Archer Exploration reveals tungsten mineralisation at Broken Hill project
Tungsten and tin would complement the company’s exploration for valuable commodities required for expanding energy and technology markets.
Company
ASX:AXE
Archer is a quantum technologies company developing solutions for next-generation computing, advanced sensing, and breakthrough medical applications.
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Tungsten and tin would complement the company’s exploration for valuable commodities required for expanding energy and technology markets.
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The company’s share price has increased about 63% over the past month, last trading at 13 cents.
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The company is well-funded to continue developing the 12CQ carbon-based quantum computing chip.
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The 12CQ carbon-based quantum computing chip aims to make quantum computing more practical and accessible.
The company’s securities will remain in trading halt until the beginning of trade on Wednesday June 26 or when an announcement is made.
The company has rights to develop and commercialise quantum computing technology IP, including the 12CQ quantum computing chip.
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The company’s carbon-based quantum computing chip will integrate critical materials sourced from the inventory of Carbon Allotropes, a wholly-owned subsidiary of Archer.
The company is now turning its attention at the project to identifying new exploration targets.
The graphite from Archer’s Campoona Graphite Deposit in South Australia is structurally near perfect, even after mechanical and chemical processing.
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As part of its advanced materials strategy, the company is progressing a graphite-to-graphene beneficiation strategy.
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The company’s shares are trading about 4% higher intra-day, at 7.3 cents.
95% and 99%+ total carbon content (TCC) flake products have been converted into spherical graphite by small-scale mechanical mill processing.
Results show Hawkeye and Katniss are more gold-rich than Hood prospect indicating these prospects are further from the source of the Hood intrusion or are from a separate more gold-rich intrusion.
Last week, Archer intersected strong copper-gold mineralisation at its Blue Hills Project in South Australia.
The RC drilling program at Blue Hills is completed for all three prospects with the company expecting to receive results from its Hawkeye and Katniss targets by the end of the month.
The company is the sole applicant of the patent and maintains 100% ownership of the patent and intellectual property.
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As part of its advanced materials strategy, the company is progressing a graphite-to-graphene beneficiation strategy.
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‘Subject to finance’ condition has been satisfied in the sale of Sugarloaf farmland in South Australia.
Drilling at the project continues with additional assay results pending.
The maiden drilling provides an important vector into the target zone at the Hood prospect to be tested with subsequent holes.