Archer infill drilling confirms Campoona graphite

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THE DRILL SERGEANT: Archer Exploration (ASX: AXE) has received results from a drilling campaign conducted in March this year at Central Campoona prospect, located within the company’s wholly-owned Campoona graphite project, north of Cleve on South Australia’s Eyre Peninsula.

Archer said the drilling has confirmed the continuity of high-grade graphite mineralisation across the Central Campoona prospect.

The company claims the 28 Reverse Circulation holes drilled in the March program have sufficiently infilled the Central Campoona footprint to allow a resource estimate update by June this year.

 

Plan showing location of Central Campoona 2014 RC drill holes.
Diamond hole CSDD14_01 is highlighted in yellow. Source: Company
announcement

 

This will build on the deposit’s Maiden JORC Inferred resource estimate of 520,000 tonnes at 11.6 per cent Total Carbon (TC) at a nominal cut-off grade of 5 per cent TC announced 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 to 60 metres,” Archer Exploration said in its ASX announcement.

Central Campoona is one of the Campoona project’s five zones of high-grade, highly graphitic schist located along the trend of the Campoona Shear some 1.8 kilometres south of the company’s Campoona Shaft graphite deposit.

The Campoona Shaft graphite deposit has a combined JORC 2004 code Measured, Indicated and Inferred mineral resource totalling 2.23 million tonnes averaging 12.3 per cent TC for 293,900 tonnes of contained graphite.

Archer also drilled one diamond drill hole to supply samples for metallurgical evaluation.

“The drill line spacing in the northern portion of Central Campoona is now at a nominal 25m, believed to be sufficient to permit a higher classification after a new estimation is completed,” the company said.

“The Maiden resource was limited to depths of around 50m.

“The latest round of infill drilling was extended to a maximum vertical depth of 100m.”

Email: info@archerexploration.com.au

Website: www.archerexploration.com.au