New Drill Results Confirm Continuity Of High Grade Graphite On Archer's Campoona Graphite Project In S.A.
Adelaide, April 24, 2014 AEST (ABN Newswire) - Archer Exploration Limited (
ASX:AXE) announce new Drill Results Confirming Continuity Of High Grade Graphite On Archer's Campoona Graphite Project In S.A.
- Results now to hand from March infill drilling program confirm continuity of high grade graphite mineralisation in the northern portion of Campoona's Central Campoona deposit.
- The drilling designed to build on February's maiden JORC Inferred resource estimate for Central Campoona of 520,000t @ 11.6% TC at nominal cut-off grade of 5% TC
- Results of 28 new holes deliver nominal drill coverage now at 25m x 50m line spacings and up to 100m depth.
- Upgraded Central Campoona JORC Resource expected in June 2014.
2014 Central Campoona Drilling Results
Results now available from new drilling in March this year have confirmed the continuity of high grade graphite mineralisation across the Central Campoona prospect within Archer Exploration Limited's (ASX:AXE) wholly-owned Campoona graphite project, north of Cleve on South Australia's Eyre Peninsula.
In addition, the new 28 Reverse Circulation holes drilled in the March program have now sufficiently infilled the Central Campoona footprint to allow a resource estimate update by June this year - building on the deposit's Maiden JORC Inferred resource estimate of 520,000t @ 11.6% Total Carbon (TC) at a nominal cut-off grade of 5% TC announced only in February this year.
In addition to confirming the continuity of the northern portion of Central Campoona mineralisation, the drilling also confirmed that the mineralisation remains open at depth and thickens at depths from 40-60 metres.
Central Campoona, one of the Campoona project's five zones of high grade, highly graphitic schist located thus far along the trend of the Campoona Shear - lies just 1.8 kilometres south of the Company's Campoona Shaft graphite deposit, which itself has a combined JORC 2004 code 2
Measured, Indicated and Inferred mineral resource totalling 2.23 million tonnes averaging 12.3% TC for 293,900 tonnes of contained graphite.
In addition to the March RC drilling schedule, one diamond drill hole was also completed to supply samples for metallurgical evaluation.
Central Campoona drill intervals above 10%Cg (graphitic carbon) are presented in Table 1 below.
Table 1. Central Campoona drill intervals reporting 10%Cg
-----------------------------------------------------Hole ID Depth From Depth to Interval (m) Cg %-----------------------------------------------------CSRC14_004 1 19 18 11.1CSRC14_005 52 69 17 16.7CSRC14_006 16 24 8 11.5CSRC14_007 32 58 26 12.4CSRC14_008 54 84 30 12.7CSRC14_009 1 11 10 11.3CSRC14_018 35 42 7 13.7CSRC14_021 52 81 29 11.3CSRC14_022 52 81 29 11.5CSRC14_024 111 119 8 11.7CSRC14_026 80 97 17 12.2CSRC14_027 88 97 9 11.8CSRC14_028 85 116 31 12.8CCDD14_01 0 11 44 10.6-----------------------------------------------------
Central Campoona 2014 Drilling
A total of 28 Reverse Circulation (RC) holes (1,447m) were drilled early in 2014 as a part of the recommendations from the maiden JORC 2012 Central Campoona Resource Estimate. The purpose of the holes was to provide additional geological data and assay data to improve the estimation confidence and possibly allow for a higher confidence resource classification.
A plan view of drill hole locations is presented below (Plate1), along with some of the sections being reported (Sections 1 to 3). Co-ordinates of the 2014 drill holes are presented in Appendix 1 at the end of this release.
The drill line spacing in the northern portion of Central Campoona is now at a nominal 25 metres, believed to be sufficient to permit a higher classification after a new estimation is completed. The Maiden resource was limited to depths of around 50 metres. The latest round of infill drilling was extended to a maximum vertical depth of 100 metres.
The Central Campoona graphite body lies beneath a thin veneer of soil cover.
The graphite occurs as highly graphitic steep west dipping schist. The deposit pinches and swells achieving true widths of 10 - 20 metres. Grade of the graphite mineralisation tends to improve with depth.
To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-794055.pdf
Contact
Mr Greg English
Chairman
Archer Exploration Limited
Tel: +61-8-8272-3288
Mr Gerard Anderson
Managing Director
Archer Exploration Limited
Tel: +61-8-8272-3288
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