Archer Exploration completes drilling on Eyre Peninsula

26 February 2012 (Last Updated February 26th, 2012 18:30)

Archer Exploration has completed a 15-hole RC drill programme to test the Sugarloaf, Campoona, Grid 2 and Council Pit graphite deposits located on Eyre Peninsula, South Australia.

Archer Exploration has completed a 15-hole RC drill programme to test the Sugarloaf, Campoona, Grid 2 and Council Pit graphite deposits located on Eyre Peninsula, South Australia.

The Sugarloaf graphite deposit is located on EL 3711 Carappee Hill, 10km east of Darke Peak, while the Campoona and Grid 2 graphite deposits are located in the north western portion of EL4693 Wildhorse Plain.

Archer's drilling programme also included limited drilling on Wildhorse Plain Emu Plains copper target and on an Epithermal Au-Ag target, also in Wildhorse Plain.

The assay results are expected within the next two to three weeks.

The Sugarloaf graphite deposit consists of two separate fold limbs - the western limb and eastern limb.

Three RC drill holes were drilled for an aggregate of 328m to test for graphite in the eastern limb.

All holes intersected wide intervals of highly graphitic schist, however, graphite and carbon content is unknown.

The company said the current drilling programme is likely to result in an increase in the exploration target for Sugarloaf.

Seven RC drill holes were completed for an aggregate 430m to test the length of the 6km Campoona EM trend targeting the Campoona graphite shaft, the central Campoona trend and the western Campoona area. The assay results are pending.

Three RC drill holes for 304m were drilled on the Wildhorse Plain Epithermal Target to test follow up to low grade gold anomalism detected by Archer in historic drill core.

Archer Exploration is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.