www.archerexploration.com.au
Archer Exploration is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits. The company’s flagship project is the Evelyn Dam iron ore-copper-gold-uranium prospect.
Archer Exploration shares spike on Ketchowla Manganese Project drill results
The results from a 45 reverse circulation (RC) holes (643 m) drilling program at Archer Exploration’s (ASX: AXE) Ketchowla Manganese Project, near Burra in South Australia’s midnorth, are now available.
The holes tested a variety of targets in a 140 sq km area. Many of the holes intersected intervals of mineralisation exceeding 5% manganese.
Results include 6m @ 21.9% Mn, 8m @ 15.6% Mn and 4m @ 29.3% Mn. High grade intervals of 1m @ 36.1% Mn, 1m @ 33.6% and 1m @ 31.7%.
Results also include up to 0.34% Cu, 0.14% Co; 0.24% Ni and 0.15% Zn and prospective areas at K1 and K2 are yet to be drill tested.
Rock chip sampling in the K1 and K2 areas has identified copper (Cu), cobalt (Co), nickel (Ni) and zinc (Zn) mineralisation.
These metals appear to be associated with manganese (Mn) in the historic workings at K1 and in small exposures of manganese in rubbly outcrop or in small pits up to 4.7km north of the workings.
The K1 workings and the north part of K2 were not drill tested, because of the steep terrain. However, holes K1RC001 and K1RC004 drilled immediately north of K1 workings to test the potential extension of the mineralisation confirmed the association between manganese, copper, cobalt, nickel and zinc at depth.
The company said another encouraging aspect of the results from K1001 and K1004 was the width of manganese mineralization intersected below small rubbly manganese outcrops < 1m wide on a scree covered slope. This highlights the potential of the 4.7 km northern extension of K1.
The original 2,500m drill program was only partially completed, because of the unavailability of the track mounted rig originally contracted to carry out the program.
Access was restricted to relatively flat areas, because the replacement rig was truck mounted. This meant the steeper and most prospective areas of K1 and K2 were not drill tested.
Archer is currently analysing the results of the recent drill program and planning further work, which will include additional drilling and bacterial heap leach testwork of the manganese, copper, cobalt, nickel mineralization at the K1 prospect.
Archer Exploration shares were trading up today.
