Archer scores high-grade graphite at Campoona

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THE DRILL SERGEANT: Recent RC drilling completed by Archer Exploration (ASX: AXE) at Campoona Central has confirmed the presence of graphite similar to the highly graphitic schist at Campoona Shaft and at widths amenable to mining.

The Campoona project is one of the company’s Eyre Peninsula graphite projects and has a current JORC Resource of 5.27 million tonnes at 7.6 per cent total graphitic carbon (TGC).

The other Eyre Peninsula graphite project is at Carappee Hill, which has an Exploration Target of 37 to 70 million tonnes at 10 to 12 per cent carbon.

Campoona Central is located about 2.8 kilometres immediately to the southwest of the Campoona Shaft Resource.

 

Location of Campoona Central with respect to Campoona Shaft area. Source: Company announcement

 

The recent drilling at Campoona Central intersected graphite intervals including:

–    34 metres at 10.7 per cent TGC from 19 metres;

–    25m at 12.6 per cent TGC from 24m;

–    25m at 12.8 per cent TGC from 12m;

–    24m at 16.4 per cent TGC from 18m;

–    17m at 17.4 per cent TGC from 48m; and

–    16m at 15.2 per cent TGC from 27m.
 
Archer completed a total of 42 holes totalling 1.937m, with the average vertical depth below surface being approximately 45m.

Four of the holes drilled recorded graphite intervals of less than 5 per cent TGC, however Archer indicated these will be followed up to determine the potential for Campoona-style graphite mineralisation.

“Most of the significant intercepts are from the northern part of the area,” Archer Exploration said in its ASX announcement.

“Towards the south the graphite pinches and swells over shorter strike distances and is dislocated by a series of short scale fault offsets.”

Another 59 holes for 3,656m were completed to test regional EM signatures.

According to Archer this drilling 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.