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Galaxy Graphite Corp. Commences Field Work at Brownell Lake Project, Saskatchewan

Posted by AGORACOM-JC at 9:42 AM on Thursday, July 19th, 2012

VANCOUVER, BRITISH COLUMBIA–(July 18, 2012) – Galaxy Graphite Corp. (TSX VENTURE:GXY) (the “Company” or “Galaxy”) is pleased to announce that it has commenced field work on its Brownell Lake gold property, located approximately 100 km E of La Ronge. The work program will include line cutting, ground geophysics (VLF/Mag), mapping, prospecting and soil sampling. This work will be managed by Mackevoy Geosciences Ltd of Williams Lake, BC. This Phase 1 work program is expected to be completed by the end of July, 2012, with a Phase 2 field program in early September 2012 to follow up on the results of the current program.

Brownell Lake Property, Saskatchewan

On March 3, 2011, the Company signed a letter of Intent (“LOI”) with Brownell Lake Holdings Inc. (“Brownell”) whereby Brownell agreed to grant to the Company an option to acquire a 100% interest in seven mining contiguous claims located approximately 100 kilometres east of La Ronge, Saskatchewan. On December 2, 2011, the Company received regulatory approval for its qualifying transaction.

Galaxy can earn a 100% undivided interest in the property in three stages by paying an aggregate sum of CDN$825,000 to the vendors, issuing 5,000,000 Common Shares to the vendors and spending an aggregate sum of CDN$1,250,000 on expenditures over a three year period.

An NI43-101 Technical Report was prepared for property vendor in October 2009. This report can be viewed on Sedar ( under the company’s profile. The report concluded that the Brownell Lake project is at an early exploration stage and additional ground geophysics, ground prospecting, geological mapping and geochemical sampling are warranted. Significant amounts of exploration data are available from the Saskatchewan Government and the digitization and compilation into a GIS database will greatly enhance the framework and help focus further work. Subsequent to compilation and further ground work, additional diamond drilling was recommended to assess continuity of mineralization tested in 2007 and 2008 and to evaluate the other anomalous zones in the area.

The Olsen Lake showing has been the main subject of exploration by 101053292 Sask Ltd. receiving preliminary drilling in 2007. Follow up drilling in 2008 successfully tested lateral and down dip extensions of the first promising drill hole, DDH BL-1. In total, 5 holes totaling 894.5 m have been drilled on the Brownell Lake Property. The drilling results include mineralized zones correlating between drill holes, assay values up to 13 g/t Au over 0.65 m (DDH BL-4), composite continuous assay values of up to 1.52 g/t Au over 11.6 m (DDH BL-4), and discontinuous composite assay values of 0.56 g/t over 17.3 m (DDH BL-2).

Chris M. Healey P.Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.


Chris M. Healey, President and CEO

We seek safe harbor.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information


Galaxy Graphite Corp.
Chris M. Healey
President and CEO
(604) 921-1810
(604) 921-1898 (FAX)

Investments Worth Their Weight in Graphite: Glen Jones

Posted by AGORACOM-JC at 5:08 PM on Wednesday, June 27th, 2012

The Critical Metals Report: In a May 31 press release, your firm said, “If China’s approach to rare earths was applied to graphite, the impact on global demand, supply and prices would be significant.” Do you believe China will establish export quotas on different types of graphite?

Glen Jones: If the demand for the different products in which graphite can be used—for example, lithium-ion batteries—actually comes to fruition, then yes, I believe China will establish export quotas, because it will need graphite for its own internal production.

“Rare earths and graphite are not as cut-and-dry as gold or copper. Thus, my advice is always, ‘Research.'”

TCMR: Is the growth in graphite demand from current applications like refractory and lithium-ion batteries enough to support the 40 companies now seeking economic graphite deposits?

GJ: If this growth comes about, there could be a shortage of graphite. Not all of these companies will find deposits, but it is necessary to have 40 companies exploring—it increases the chance of discoveries.

TCMR: Graphite demand is growing at a rate of about 5% per annum right now. That’s reasonably healthy, but not extraordinary. What catalysts are going to get investors excited?

GJ: Green energy initiatives: fuel cells, solar electricity, new-generation nuclear power and pebble-bed nuclear reactors. When some of those technologies will be perfected and when greater graphite demand will come still remains to be seen.

TCMR: You’ve said the graphite mining business is misunderstood. What is the source of confusion?

GJ: Investors are overwhelmed about the various types of graphite, flake or vein. The variations in grade, prices and the sources for each type make graphite a very confusing market, and a lot of investors are just jumping on the graphite bandwagon because they don’t want to be left out. I compare it to the early days of rare earth elements (REEs). REEs, like graphite, are not as cut-and-dry as gold or copper. Also, graphite just kind of popped up, and investors wonder why it’s suddenly in such demand. All of the numbers about the future use of graphite and how much supply will be required are still just estimates. Even if the numbers were more certain, they still depend on the fluctuating economy.

That’s what’s misunderstood in the business. Thus, my advice is always, “Research.” With the Internet, there’s such a huge amount of research available. Most companies have PowerPoint presentations you can access. There are also many government sites, such as the U.S. Geological Survey, that you can consult to boost your technical knowledge.

TCMR: Canada is home to 71% of the graphite projects currently being developed. Graphite is relatively abundant throughout the world, so why are so many projects located in Canada? Does it hurt the sector to have so much of the work happening in one country?

GJ: For investors, it’s not bad to have so much supply concentrated in Canada. The country is blessed with great geology for resources, not only for graphite but many other commodities, including gold, copper, nickel and lead zinc. About 45% of the world’s listed mining companies, over 1,600, are listed on the TSX and TSX-Venture exchanges. Most of these companies are experienced. They know how to raise money. They know how to explore. Plus, Canada has great infrastructure and is mining friendly.

TCMR: Within the last year, roughly 40 companies specifically seeking graphite were listed on various Canadian exchanges. Does this almost-overnight increase trigger any alarm bells?

GJ: I’m not concerned with the number of companies jumping in. It happens in the exploration business. Of the 140 projects in the world that these companies own or have acquired, about 80 are grassroots projects, which Intierra classifies as having no previous drilling. This leaves about 40 properties that are at various advanced stages. Of that group, maybe half a dozen will get to the feasibility stage. I think it’s good to have so many companies in there right now.

TCMR: Within those 140 graphite projects, only one graphite mine is being built. Should that concern investors?

“Canada is blessed with great geology for resources. Most of these companies are experienced. They know how to raise money. They know how to explore. Plus, Canada has great infrastructure and is mining friendly.”

GJ: I don’t think so. Within the next couple of years, two or three other mines will likely come into production. One is the Kearney mine in Ontario, currently privately owned by Ontario Graphite, which I think will go public. It’s a past producer of graphite, and it should open in Q312 or Q412. It will produce about 20,000 tons per year (t/a), which is a decent size. Total world production in 2010 was about 925,000 metric tons graphite. The Lac Des Iles mine is in Québec and owned by Timcal, which is a division of Imerys (NK:PA), produces about 25,000 t.

Another upcoming mine is the Kringel mine, owned by Flinders Resources Ltd. (FDR:TSX.V) in Sweden. It was a past-producing mine and is currently under care and maintenance. It’s permitted with a mine and a mill just sitting there. The company should produce up to about 13,000 t/a graphite and hopes to be producing by 2014.

The Lac Knife deposit, which is owned by Focus Graphite Inc. (FMS:TSX.V), is in Québec. Construction there should begin in 2013, and it will probably produce about 25,000 t/a. It’s supposed to be one of the largest high-quality and high-grade deposits in the world. Focus raised $20 million ($20M) as of April 11 to continue exploration and development of Lac Knife and various facilities there. That’s impressive, given the current economic climate.

TCMR: It’s not all that far from the Lac Des Iles mine you referenced earlier. Will that be useful to the new project?

GJ: The closeness means there’s good infrastructure in place already, so a new project doesn’t necessitate a new railway or more roads.

TCMR: Another company that’s done a couple of financings in the last year and raised over $12M is Northern Graphite Corporation (NGC:TSX.V; NGPHF:OTCQX).

GJ: Northern owns the advanced-stage, flake-graphite Bissett Creek deposit in Ontario. It’s completed a preliminary economic assessment and started its bankable feasibility study and environmental and mine-permitting process. It hopes to fast-track it and begin construction late this year.

TCMR: Could you see an offtake partner coming into that equation?

GJ: Probably. That’s certainly something that’s happened with many companies in the REE sector, which is similar to the graphite space in a lot of ways.

TCMR: You have said that only four graphite companies, Focus Graphite, Northern Graphite, Archer Exploration Ltd. (AXE:ASX) and Flinders Resources, have raised more than $2M since January 2011. Did you think there would be more companies reaching that level?

GJ: Yes, I was surprised. I thought that there would have been a lot more companies in there, and I thought there would have been a lot more raised. At Intierra, we only track anything over $2M. That’s our bottom line.

TCMR: What are some commonalities among those companies that did raise over $2M?

GJ: They all had advanced projects. A lot of the juniors with early-stage projects are having trouble raising capital now.

TCMR: If you were investing in a graphite play, would you be more likely to invest in an advanced-stage play or in one of the early stages of exploration, where you can see those quick run-ups?

GJ: You have to know your investment appetite. Do you want less risk or more risk? With more risk come better gains. I invest in both.

TCMR: What are some of the early-stage plays that have some potential?

GJ: I like Energizer Resources Inc. (EGZ:TSX.V; ENZR:OTCBB). It has the Green Giant project in Madagascar. Its vanadium property is already at the prefeasibility stage, and the company has found 17 graphitic zones on the property. Investors get vanadium and graphite in one.

TCMR: That’s a sizeable resource in a country that has seen very little exploration. How much of an advantage is that?

GJ: There are advantages and disadvantages. Virgin territory is more open for discoveries. But because the country has not had significant exploration, companies could possibly run into permitting, infrastructure and labor issues.

TCMR: What other early-stage plays do you like?

GJ: Strike Graphite (SRK:TSX.V) has two interesting projects in Saskatchewan. The Deep Bay East project is a historic property with significant exploration in past years. It’s very close to the Deep Bay West graphite mine, which is also being ramped up. The Wagon graphite property is near the Lac Des Iles mine, and it’s had numerous amounts of historical exploration on it as well.

TCMR: It’s going to have an NI 43-101-compliant resource estimate by Q412. Will that be a catalyst for the share price?

GJ: Definitely. A lot of investing is about anticipation.

TCMR: Tell us about IntierraLive and how it could help investors in graphite.

“You have to know your investment appetite. Do you want less risk or more risk? With more risk come better gains. I invest in both.”

GJ: IntierraLive is the largest global mining database, but unfortunately we do not have a package for retail investors. However we are also famous for our maps. They show where a company is exploring, that region’s infrastructure, its mines and deposits, et cetera. We hope to have a graphite map out in a month or two. It’s going to be a Canadian graphite map, focused on Ontario and Québec. Investors will be able to pick one up at a conference or call the company they’re interested in to request one. A number of companies put portions of our maps on their websites.

TCMR: Do you have any thoughts you’d like to leave our readers with on the graphite space?

GJ: Do your research. Look at a company’s cash position. These days, that’s really important, and if a company doesn’t have cash, it’s really hard to raise it. Look at the company’s management. Have the members been involved in other commodity plays? Have they been around the business for a while? Does the company have the technical expertise to move their company’s projects forward? Sure, you could just put your money in a company and hope that the stock will double or triple, but if you’re a serious investor and you do not want to lose your money, then you do have to do the research.

TCMR: Thank you.

Glen Jones started his career in the mineral exploration industry over 35 years ago, mapping underground stopes and logging drill core. He founded Mineral Information Maps in 1980, and in 1992, he developed the “Hot Play” map concept and began publishing maps that showed rapidly developing area plays around the world. He merged his company with Intierra Resource Intelligence in 2003, which developed a web-based application for bringing together all levels of technical, financial and spatial data. Jones is the executive director for the Western Hemisphere at Intierra, where he oversees all aspects of the business for the Americas.

Want to read more exclusive Critical Metals Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators and learn more about critical metals companies, visit our Critical Metals Report page.

1) Brian Sylvester of The Critical Metals Report conducted this interview. He personally and/or his family own shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of The Critical Metals Report: Northern Graphite Corp., Focus Graphite Inc., Energizer Resources Inc. Streetwise Reports does not accept stock in exchange for services. Interviews are edited for clarity.
3) Glen Jones: I personally and/or my family own shares of the following companies mentioned in this interview: None. I personally and/or my family am paid by the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this story.


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Archer Exploration Limited (ASX:AXE) High Grade Amorphous and Flake Graphite Recovered at Campoona

Posted by AGORACOM-JC at 10:18 AM on Monday, June 4th, 2012

Sydney, Australia, June 1, 2012 – (ABN Newswire) – Archer Exploration Limited (ASX:AXE.AX – News) advises that initial metallurgical test work results from Campoona drill samples drilled in February and April 2012 have been received. The Company’s 100% owned Campoona Graphite Project is located approximately 12km north of the township of Cleve on Eyre Peninsula, South Australia.

Drilling by the Company in February and in April 2012 (Figure 1) confirmed the presence of visible flake graphite within a discrete intense graphitic shear zone hosted in low grade graphitic proto-gneiss (high grade metamorphosed sediments). The high grade graphite unit averages 10-50m in true width with the hangingwall section particularly high grade averaging over 15% graphitic carbon and carrying visible flake.

Metallurgical Testwork
Two composite RC samples were submitted for detailed metallurgical evaluation. CSRC12-003 head assay was 16.2%TGC and 97% passing 2mm sizing. CSRC12-006 head assay was 15.5%TGC and also 97% passing 2mm sizing.

The first process was to determine if high quality amorphous graphite could be recovered.

Using conventional flotation methods the following results were achieved:

– CSRC12_003 : 92%TGC Concentrate & 98% recovery.
– CSRC12_006 : 93%TGC Concentrate & 92% recovery.

Most amorphous graphite is sourced from metamorphosed coal where the presence of fine ash makes it difficult and costly to achieve grades above 85%TGC. Campoona can provide very high quality amorphous graphite and it is possible with further refinement of the liberation and flotation process, that market premium concentrates could be readily produced.

The samples as received already had 80% passing 220 micron thus making it potentially unsuitable for the recovery of flake graphite. Despite the limitations of the sample it was considered prudent to continue the recovery process for flake even though the results could only ever be seen as probably indicating a “worse case” result.

The tests as seen in Plate 1 to Plate 4 clearly show that flake graphite is present and recoverable with grades to 91%TGC. Acid washing is in progress which is expected to result in even higher flake grading.

These are considered to be extremely promising results, particularly given that the only samples available for testing were RC chips which are far from ideal for flake recovery. The fine nature of the samples were challenging for any real attempts at recovering coarse flake graphite as the as received samples were already 80% passing 212 microns and any flake present would have undergone serious damage to its structure during the sample recovery process in the field.

The initial tests clearly show that flake is present in the deposit. The focus is now on obtaining large weight trench samples and diamond drill samples that will enable preservation of flake prior to comminution testing, liberation and recovery phases.

Next Steps

Now that a baseline has been established, future work will focus on optimizing a two-stage approach to recovery of product. This will be performed on trench samples and diamond drill core which will ensure the samples tested have far less chance of damage caused to flake present via the drilling and sample recovery process.

The two stage approach will involve targeted sizing and comminution ahead of flotation and then density separations to produce high grade large, medium and fine flake concentrate. The rejects will then be combined with the bulk sample for grinding and production of a very high grade amorphous graphite product. This two stage approach will be confirmed initially on rock samples and then further optimized on trench and diamond core samples when they become available. This will ensure the desired marketing strategy of producing the highest value products is fulfilled.

View photographs here:
About Archer Exploration Limited:

Archer Exploration Limited (ASX:AXE.AX – News) is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.

The company has carefully acquired a portfolio of projects, covering an area in excess of 7,000 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the company.

The company’s flagship Evelyn Dam prospect in the West Roxby Project is an iron ore-copper-gold-uranium (IOCG-U) target which has a gravity anomaly similar in size to the nearby Olympic Dam operations.

Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company’s world-class projects.


Archer Exploration Limited
T: +62-8-8272-3288


Archer Exploration Limited

Archer Exploration Limited (ASX:AXE) Exceptional Grade Graphite Intercepts Continue at Campoona

Posted by AGORACOM-JC at 9:43 AM on Monday, April 16th, 2012

Adelaide, Australia, April 16, 2012 – On the 15th March 2012 the Archer Exploration Limited (ASX:AXE.AXNews) announced that it had commenced a staged resource drilling programme at the Company’s 100% owned Campoona Graphite Deposit located approximately 12km north of the township of Cleve on Eyre Peninsula, South Australia.

The first stage of drilling consisted of thirty RC and RC aircore drill holes aggregating 1,528 drill metres. Drilling was conducted between the 14th March – 7th April 2012 to test the consistency of the Campoona Graphite Deposit along strike. (fig 1).

The drilling was concentrated in two main areas around the northern portion of the deposit immediately south of the Campoona Shaft and north of the Campoona South outcrop. Most holes intersected significant graphite which occurs either as an intense graphitic schist unit or as graphitic proto-gneiss. It is likely that the graphitic schist pinches and swells along strike.

Drilling Results

The assay results for the first 6 drill holes (CSRC12_008 – CSRC12_013) have been received after some considerable delays due to internal quality control performed by the laboratory due to the very high grade of the graphite. The delay in reporting the assays is beyond the Company’s control and is important in ensuring the reliability of the data being reported. Results confirm previous drill intercepts around the Campoona Shaft.

Results for the Campoona Shaft area included:

CSRC12_006(Reported in March)    21m @ 15.0%C from 46m downhole

CSRC12_007(Reported in March)    25m @ 10.9%C from 64m downhole
                                 Including 14m at 15.5%C from 71m

CSRC12_OO8                       38m @ 8.60%C from Om downhole
                                 Including 22m @ 10.34%C from 8m

CSRC12_OO9                       67m @ 10.08%C from Om downhole
                                 Including 25m @ 13.17%C from Om

CSRC12_OlO                       48m @ 12.48%C from 24m downhole
                                 Including 20m @ 16.54%C from 46m

CSRC12_Oll                       3m @ 6.21%C from Om downhole
                                 and 6m @ 8.02%C from 6m

CSRC12_012                       23m @ 11.45%C from Om downhole
                                 Including 16m @ 12.90%C from 1m
                                 and 4m @ 10.41%C from 28m

CSRC12_013                       24m @ 10.00%C from 21m downhole
                                 Including 10m @ 12.50%C from 25m
                                 and 4m @ 11.80%C from 50m

The assays for the 6 drill holes reinforce the observations made from previous drilling, namely:

– The high grade intersections carry visible flake graphite. Previous petrology records average graphite size of between 250-300 microns (large flake is >177 micron).

– The discrete intense graphitic schist is hosted within graphitic proto-gneiss formed under conditions important for the development of crystalline graphite.

– There appears to be little to no silicification of the graphite in both the Campoona Shaft area and the area around hole CSRC12_003 (4.2km south of the Campoona Shaft). The absence of silicification is considered important for the liberation of graphite during comminution and flotation extraction. The Campoona Shaft area and the area around hole CSRC12_003 contrast with the Campoona South outcrop which in surrounded by pegmatite intrusives and is variably silicified.

– The latest drilling recorded significant widths of high grade graphite indicating that the unit thickens to a maximum true width of 40m.

– The variation in thickness of the graphitic schist suggests the unit “pinches and swells” along strike. Such pinching and swelling is likely to also occur in the vertical dimension.

– The graphite unit outcrops, dips sub-vertically and extends continuously to a vertical depth of at least 80m. The next drilling campaign will include deeper drilling to target the graphitic unit to depths of 150 vertical metres below surface.

– Field observations indicate the thick graphitic unit extends well north of the Campoona Shaft.

– The drilling when combined with the electromagnetic data indicates a strike potential in excessof 6km although some pinching is expected.


Samplesfrom holes CSRC12_003 and CSRC12_006 have been submitted for liberation and flotation concentrate recovery. Results will be released as and when they are received.

To view the complete Archer Exploration announcment including Figures, please refer to the following link below:
About Archer Exploration Limited:

Archer Exploration Limited (ASX:AXE.AXNews) is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.

The company has carefully acquired a portfolio of projects, covering an area in excess of 7,000 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the company.

The company’s flagship Evelyn Dam prospect in the West Roxby Project is an iron ore-copper-gold-uranium (IOCG-U) target which has a gravity anomaly similar in size to the nearby Olympic Dam operations.

Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company’s world-class projects.


Mr Greg English
Archer Exploration Limited
Tel: +618-8272-3288

Mr Gerard Anderson
Managing Director
Archer Exploration Limited
Tel: +618-8272-3288


Archer Exploration Limited

Archer Exploration – Campoona graphite deposit: Drilling update

Posted by AGORACOM-JC at 9:18 AM on Friday, March 23rd, 2012


  • Wide intercepts of graphite intersected in all seven holes drilled to date covering 500 metres of the estimated greater than 6km of strike of the deposit.
  • Visible flake component to the drill intercepts.
  • Graphite occurs as highly graphitic schist within graphitic gneiss.
  • The drilling reinforces the importance of Campoona as a high priority resource target.
  • Resource drilling is continuing.

The directors of Archer Exploration Limited (“Company“) are pleased to provide an update on the resource drill program at the Company’s 100% owned Campoona Graphite Project located approximately 12km north of the township of Cleve on Eyre Peninsula, South Australia.

On 15 March 2012 the Company announced that it had commenced a resource drilling program at Campoona. This drilling program was accelerated as a result of the discovery of visible flake graphite during the Company’s February drilling campaign. In the announcement of 15 March 2012 the Company reported wide intervals of exceptional grade graphite including:

  • 21m @ 15.0%C from 46m downhole in hole CSRC12_006.
  • 24m @ 10.4%C from 49m downhole, including 10m @ 16.7%C from 48m and 3m @ 13.9%C from 70m in hole CSRC12_003.

The current 2,000m RC and aircore resource drilling program at Campoona is designed to test the consistency of the graphite mineralisation along strike and to form the basis for subsequent infill drilling programmes designed to enable the estimation of a JORC Resource.

Drilling Completed to Date

The current Campoona drilling programme commenced on 14 March 2012 targeting outcropping graphite south of the historic Campoona graphite shaft. Graphite is observed at the surface over the 500m of strike and in places reaches more than 20m wide.

The summary of drill holes drilled in Campoona North is shown in Table 1. Drill holes CSRC12_008 – CSRC12_014 have been drilled since 14 March 2012.

Table 1. Campoona North Drill Hole Details

Hole ID Easting Northing RL Depth Dip Azimuth
CSRC12_006 637355 6289256 359 69 -60 130
CSRC12_007 637352 6289263 361 121 -60 130
CSRC12_008 637281 6289152 361 38 -60 110
CSRC12_009 637258 6289157 369 73 -60 110
CSRC12_010 637243 6289164 362 72 -60 110
CSRC12_011 637202 6289068 368 21 -60 110
CSRC12_012 637186 6289075 372 55 -60 100
CSRC12_013 637175 6289076 366 59 -60 100
CSRC12_014 637027 6288890 370 97 -60 110

All holes drilled in this current round of drilling (CSRC12_008 onwards) have intersected graphite including sections carrying visible flake.

Table 2. Campoona North Graphite Intercept Summary

Hole ID EOH(m) From(m) To(m) Graphite Interval(m)
CSRC12_008 38 0 31 31
CSRC12_009 73 0 67 67
CSRC12_010 72 24 67 43
CSRC12_011 21 0 10 10
CSRC12_012 55 0 35 35
CSRC12_013 59 20 55 35
CSRC12_014 97 75 90 15

Geological Observations

The current drilling indicates:

  • The Campoona graphite deposit dips steeply to the west.
  • The graphite unit shows strong correlation between drill holes in having a coarser graphite unit (about 10m true width) overlying finer grained graphite.
  • The graphite unit varies in width from 15m to greater than 25m.
  • The graphite footwall is marked by a thin hematite unit possibly reflecting a primary sulphide-rich sediment.
  • Graphite outcrops over the full 500m of strike drilled to date. The weathering seen in the pavement outcrop accentuates the flake component of the unit.

Figure 1. Drill hole location of Campoona Shaft holes.

Figure 1 shows the location of the holes drilled to date over the 500m of strike.

The next phase of drilling will include:

  • Additional drill holes to confirm graphite at holes 006 and 007.
  • Drilling to the north of the Campoona shaft.
  • Systematic drilling from the Campoona South outcrop to the Campoona shaft (a distance of 6kms) on 200m and 400m drill lines until the full strike of the deposit is covered.

The results of this phase of drilling will be used to design the Resource drill out.

Drill Results

Assay results for holes 008 to 013 are anticipated within a week.

For further information please contact:

Mr Greg EnglishChairman

Archer Exploration Limited

Tel: (08) 8272 3288

Mr Gerard AndersonManaging Director

Archer Exploration Limited

Tel: (08) 8272 3288

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr. Wade Bollenhagen, Exploration Manager of Archer Exploration Limited. Mr. Bollenhagen is a Member of the Australasian Institute of Mining and Metallurgy who has more than seventeen years experience in the field of activity being reported. Mr. Bollenhagen consents to the inclusion in the report of matters based on his information in the form and context in which it appears.