JORC 2012 Graphite Resources
Sydney, Aug 6, 2014 AEST (ABN Newswire) - Archer Exploration (
ASX:AXE) is pleased to announce a combined JORC 2012 Graphite Resource at their Eyre Peninsula Project of 8.55Mt @ 9.0 Cg%. The Eyre Peninsular Project encompasses Campoona, Sugarloaf and recently acquired Wilclo South areas.
This result is based on a 5% cut-off grade and utilises the JORC 2012 definition of 'reasonable prospects of eventual recovery' (refer to the appendix for a detailed summary of the updated JORC 2012 report.)
Commenting on the release of the JORC resource, Managing Director, Gerard Anderson said, "This JORC 2012 Resource of 8.55Mt of graphite is the largest JORC 2012 graphite resource in Australia.
With exposure to large flake graphite at Wilclo South and high purity graphite at Campoona, we now have a range of flake sizes across our tenements that allows us to target a wide spread of end graphite users."
"Our access to infrastructure and location in a safe and reliable mining jurisdiction provides us with a competitive position as the project is developed further" said Mr Anderson.
Global JORC 2012 Graphite Resources (5% Cg cut-off)
---------------------------------------------Area Resource Tonnes Graphitic Contained Category (Mt) Carbon% Graphite(t)---------------------------------------------Campoona Shaft Measured 0.32 12.7 40,600 Indicated 0.78 8.2 64,000 Inferred 0.55 8.5 46,800---------------------------------------------CentralCampoona Indicated 0.22 12.3 27,100 Inferred 0.30 10.3 30,900---------------------------------------------Wilclo South Inferred 6.38 8.8 561,400---------------------------------------------Combined Total Resource 8.55 9.0 770,800---------------------------------------------
The Wilclo South Mineral Resource estimate represents only a very small strike length (1.4km) of the more than 10km of strong linear EM conductors. There is significant potential for further resource growth. In addition to the Wilclo trend there are 5 other graphite prospects corresponding to strong linear EM conductors aggregating an additional 10km of potential strike that has been the subject of only limited drilling. Mr Anderson went on to say, "Given our strong financial position, our immediate next step will be to drill test our additional graphite prospects to further build on our resource base and enable a ranking of deposits based on deposit size, graphite sixe distribution and purity of graphite in concentrates."
Scoping Study
As previously announced, the Company is undertaking a re-design of the process flow sheet for the Sugarloaf processing plant in order to accommodate the large flake graphite product and the high purity graphite expected to be produced from Wilclo South and Campoona respectively.
The expanded graphite resource (Eyre Peninsula Project), and the new process flow sheet will now underpin a Scoping Study which will assess the potential viability of the Eyre Peninsula Project.
SUMMARY OF 2012 JORC RESOURCE REPORT
The Campoona JORC 2012 Resource estimation was conducted by MiningPlus, an independent expert resource consultancy with offices in Australia, Canada and South America. The resources were reported in July 2014, the Executive Summaries, Contents and associated Tables are presented below. The Wilclo South Resource documentation (which has not changed since its reporting) can be found on ASX listed Monax Mining Limited's (MOX) website dated 26th August 2013. It is titled "Maiden Wilclo South Graphite Resource".
Resource Locations
All resources being reported occur on the Eastern side of the Eyre Peninsula, South Australia between the townships of Cleve and Kimba (Figure 1 in link below).
All Resources exist within a 30km radius of the proposed graphite processing facility at Sugarloaf adjacent to the Sugarloaf Graphite Deposit.
To view all tables and figures as well as JORC Statement, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-810070.pdf
Contact
Mr Greg English
Chairman
Tel: +61-8-8205-3343
Mr Gerard Anderson
Managing Director
Tel: +61-8-8272-3288
| ||
|
