Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Archer Exploration hits bulls eye at Campoona graphite project  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 06/12/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Archer Exploration (ASX:AXE) has defined 2.572 million tonnes of JORC compliant graphite grading at 12.3% at its Campoona graphite project in South Australia.

It has also defined 310,800 tonnes of contained graphite at a lower cut-off grade of 5%.

The Campoona JORC Resource estimation was done by MiningPlus.

Archer is now conducting scoping study including environmental baseline studies.

The scoping study is likely to transition into a pre-feasibility study starting mid calendar year 2013, which will in turn lead to a definitive feasibility starting in the second half of 2013.

It has made significant progress of defining the optimum processing flow sheet for the extraction of high value graphite product with initial results showing that more than 98% of the graphite concentrates are reproducible with excellent recoveries.

Phase 2 Resource drilling is likely to start in Central Campoona in February 2013.

With 80% of the Campoona strike yet to be drilling, Archer plans drill for resource extension in the North and South of the Campoona Shaft and Central Campoona in April 2013. This will help define the likely exploration target for the combined graphite deposit.

The JORC Resources used data from five diamond drill holes and thirty seven reverse circulation drill holes completed until this September.

The JORC Resource, which has been achieved within 9 months of the discovery drill hole, is estimated to contain almost 400,000 tonnes of contained graphite that occurs as highly graphitic, uniform and steeply dipping schist, which outcrops in the Campoona Shaft area.

Central Campoona graphite pod, located just 2 kilometres south of Campoona Shaft, has been drilled on a 200 metre spacing with onsection drill spacings from 2040 metres.

Central Campoona has a known strike of 1,400 metres. Drill density over a length of 200 metres of the known strike was deemed sufficient to support an Inferred Resource of 0.295 million tonnes grading 12.5%.

Archer will soon start regional drill testing to test a series of known graphite occurrences and a number of additional EM targets identified by the regional airborne EM surveys over Archer's 1,200 square kilometres landholding at Cleve.

The objective of Archer's regional program is to identify those graphite targets likely to translate into future resources for any Campoonabased processing facility.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help