High Grade Graphite at Campoona Central Bolsters Project
Adelaide, May 24, 2013 AEST (ABN Newswire) - Archer Exploration Limited (
ASX:AXE) (38A:FRA) is pleased to announce that RC drilling at Campoona Central has confirmed the presence of graphite similar to the highly graphitic schist at Campoona Shaft and at widths amenable to mining. Campoona Central is located about 2.8km immediately to the SW of the Campoona Shaft Resource.
1. Drilling at Campoona Central intersected significant graphite intervals including:
34m @ 10.7% TGC from 19m in hole CSRC13_002
25m @ 12.6% TGC from 24m in hole CSRC13_003
25m @ 12.8% TGC from 12m in hole CSRC12_026
24m @ 16.4% TGC from 18m in hole CSRC13_032
17m @ 17.4% TGC from 48m in hole CSRC13_004
16m @ 15.2% TGC from 27m in hole CSRC13_025
2. Regional drilling identified three further graphitic schist occurrences with similar geology to Campoona Central and Campoona Shaft.
A total of 42 holes totalling 1.937m were completed, with the average vertical depth below surface being approximately 45m. All holes had collars surveyed, with down hole surveys being taken to record any deviations. Standard QAQC techniques were also applied to facilitate future resource estimation. A comprehensive suite of samples has been collected for metallurgical testing.
Table 1 below provides all significant graphite intervals from the Campoona Central drilling. Most of the significant intercepts are from the northern part of the area. Towards the south the graphite pinches and swells over shorter strike distances and is dislocated by a series of short scale fault offsets.
Table 1. Significant graphite intervals from Campoona Central
------------------------------------------------------Hole ID Depth From(m) Depth To(m) Interval(m) % TGC------------------------------------------------------CSRC13_001 42 52 10 8.3 CSRC13_002 19 53 34 10.7CSRC13_003 24 50 25 12.6CSRC13_004 48 66 17 17.4CSRC13_006 28 39 11 12.4CSRC13_007 53 61 7 4.0CSRC13_013 10 31 21 3.5CSRC13_014 24 31 7 7.1CSRC13_017 22 29 7 5.5CSRC13_018 62 72 10 3.7CSRC13_020 0 10 10 2.5CSRC13_024 9 24 15 13.3CSRC13_025 27 43 16 15.2CSRC13_026 12 37 25 12.8CSRC13_027 15 23 8 10.3CSRC13_029 10 21 11 8.0CSRC13_030# 0 52 52 13.6CSRC13_031 13 15 2 7.7CSRC13_032 18 42 24 16.4CSRC13_033 4 10 6 8.4CSRC13_039 3 8 5 8.5CSRC13_042 41 55 14 19.2--------------------------------------------------------# CSRC13_030 was drilled down the dip of the graphite to collect metallurgical samples representing the weathering changes of the orebody.
The sections below are the first (most northern) sections drilled. Each section is roughly 100m apart.
Regional Graphite
A total of 59 holes for 3,656m were completed to test regional EM sigantures. The drilling successfully identified three new graphitic schist horizons similar to the Campoona Shaft and Campoona Central deposits as well as intersecting high grade graphitic gneiss at Campoona Shaft.
Table 2. Significant Regional graphite intercepts
-------------------------------------------------------------------Hole ID Depth Depth Interval %TGC Host Location From(m) To(m) (m) -------------------------------------------------------------------WHPRC13_002 39 45 6 12.6 Graphitic schist Camp _southWHPRC13_003 0 6 6 7.8 Graphitic schist Camp _southWHPRC13_012 71 84 13 9.6 Graphitic gneiss Camp_shaftWHPRC13_024 8 17 9 8.1 Graphitic schist Camp_eastWHPRC13_032 30 38 8 10.9 Graphitic schist Camp_north--------------------------------------------------------------------
In addition to the high grade graphite intercepts, holes CSRC13_009; CSRC13_026; CSRC13_028; CSRC13_031; CSRC13_039; CSRC13_040 and CSRC13_041 (refer Figures 3 & 4 in link below) all recorded graphite intervals of less than 5% TGC however all will require follow up to determine the potential for Campoona-style graphite mineralisation.
Epithermal
A total of 187m were drilled in 3 holes to close off sections previously drilled. Prominent alteration consisted of stylolites veins and breccias. Anomalous low gold values (<0.1g/t Au) are being re-assayed to determine refractory potential.
Salt Creek
Three holes were drilled for a total of 201 drill metres to test for synformal deposition of manganese. No significant manganese was intersected.
To view diagrams and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-736944.pdf
Contact
Archer Exploration Limited
T: +61-8-8272-3288
WWW: www.archerexploration.com.au
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