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Archer Exploration Ltd.
Summary
| Project: | Blue Hills | |
|---|---|---|
| Deposit: | Blue Hills | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 3/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-3-2019: Archer Exploration Ltd. announces an Exploration/Drilling Update report for its Blue Hills deposit at the Blue Hills project. Drilling results incl. 4.0m @ 0.16g/t Au, 230ppm from 8m. Archer Exploration Limited (“Archer”, the “Company”) (ASX:AXE | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wade Bollenhagen (Internal) | |
| ABSTRACT: | Archer Exploration Limited (“Archer”, the “Company”) (ASX:AXE) is pleased to provide the results from the reverse circulation (RC) drilling program (Program) at the Katniss and Hawkeye prospects, which is part of Archer’s Blue Hills Copper-gold Project, located approximately 240 km north of Adelaide, South Australia (see About Blue Hills). The drilling at Hawkeye and Katniss was targeting a coincident copper-gold in soils anomaly and electromagnetic signature proximal to a modelled intrusion (ASX announcement 28/05/19). Assay results show that Hawkeye and Katniss are more gold rich than Hood indicating that these prospects are located further from the source of the Hood intrusion or are sourced from a separate more gold rich intrusion. In addition to identifying copper, gold and molybdenum mineralisation, assay results also indicate the presence of pathfinder minerals such as bismuth, tellurium and arsenic (e.g. in the form of pyrite). Whilst relatively low in concentration, the presence of these pathfinder minerals with the gold mineralisation supports Archer’s intrusive style mineralisation geological model. Archer’s Executive Chairman, Greg English, said “Our maiden drill program at Blue Hills has been a success with drill holes at Hood, Hawkeye and Katniss supporting our view that the mineralisation at Blue Hills is associated with a large intrusive body at depth”. “The presence of pathfinder minerals at Hawkeye and Katniss is exciting and gives us more confidence that we are on the right track at Blue Hills” said Mr English. | |
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