ActivEX delves into graphite, options Eyre Peninsula project


ActivEX (ASX: AIV) is planning its foray into graphite with an option to acquire a project on South Australia’s Eyre Peninsula.

The company has negotiated an option to acquire 100% of Ausmin Development, which holds three graphite exploration licences spanning 1,371 square kilometres.

The Eyre Peninsula is an area with considerable current exploration activity and development potential for high grade, high value, coarse flake graphite deposits.

Highlighting the potential of Ausmin’s landholding, a well-defined electromagnetic conductive target of significant size has been discovered and is ready to drill.

The conductor lies in a belt which is known for high grade, coarse flake graphite deposits.

A previous diamond drill hole located on the edge of the conductor intersected 24 metres of graphite mineralisation, including 12.4 metres at 8.34% total graphitic carbon.

Petrology indicates jumbo flake graphite potential.

The area of interest is part of a geological formation which has numerous graphite occurrences over a 200 kilometre long zone from south of Port Lincoln to Kimba.

There are three significant deposits in the area – Archer Exploration’s (ASX: AXE) Campoona Hill, Lincoln Minerals’ (ASX: LML) Koppio/Kookaburra Gully and Megagraphite’s Uley.

Both Archer Exploration and Lincoln Minerals have recently released maiden JORC Resources at their deposits which lie immediately north and south respectively from Ausmin’s licences.

Ausmin’s project area contains several known occurrences of graphite at Siviour, Carpa, Mt Priscilla, Beames Farm.

ActivEX plans to begin exploration activities in the area as soon as possible with first pass drilling on the key target, the Siviour prospect, likely in the June quarter.

Option terms

The option, which expires on 31 December 2016, gives ActivEX the exclusive right to explore for and develop graphite in the licences.

It also gives the company the right to explore for all minerals in the areas defined as the Carpa and Siviour exclusive zones of EL 4430 and ELA 2012/00185.

To exercise the option to acquire Ausmin, ActivEX is required to complete exploration and evaluation of graphite occurrences, complete definitive studies into the commercial exploitation of the graphite and a Definitive Feasibility Study by no later than 31 December 2016.

Strategically located

Ausmin’s licences are located 55 to 100 kilometres north of the port city of Port Lincoln, an area serviced by the Lincoln Highway between Whyalla and Port Lincoln, with established powerlines linking Port Lincoln and generation capacity at Port Augusta.

While the nearest operating port is at Port Lincoln, a proposed Panamax size multi user port for Port Spencer to service iron ore industry development and the grain industry has been given state development support.

An operating railway passes within 20 kilometres of the area servicing the grain transport from Kimba/Ceduna to Port Lincoln.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: ActivEX

Price: 0.155 AUD

Market: ASX
Market Cap: $27.46 m

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