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Archer Exploration Ltd.
Summary
| Project: | Blue Hills | |
|---|---|---|
| Deposit: | Blue Hills | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 2/7/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-2-2019: Archer Exploration Ltd. announces an Exploration/Drilling Update report for its Blue Hills deposit at the Blue Hills project. Drilling results incl. 24.0m @ 0.10% Cu from 0m. Archer Exploration Limited (“Archer”, the “Company”) (ASX:AXE) is plea | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wade Bollenhagen (Internal) | |
| ABSTRACT: | Archer Exploration Limited (“Archer”, the “Company”) (ASX:AXE) is pleased to provide an update of the reverse circulation (RC) drilling program (Program) at the Hood prospect, 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 maiden RC drill program at Hood continues to deliver encouraging results with copper intersected from surface in the first hole drilled at Hood (drill hole HDRC19-01) reporting 24m @ 0.10% copper. Full results for holes HDRC19-01 and HDRC 19-02 are shown in Table 2 at the end of this announcement. The assay results and geological observations from HDRC19-01 and HDRC19-02 holes completed at Hood, with all of the information to date, suggests the presence of a large intrusive related copper-gold mineralising event. Hole HDRC 19-02 was drilled 51 metres to the south-west of hole HDRC 19-01. The fact that the copper mineralisation in hole HDRC 19-02 did not commence from surface may indicate that the target zone of copper-gold mineralisation is likely located closer to the northern hole HDRC 19-01 than where HDRC19-02 was drilled. In that context, the broad low-grade interval encountered in HDRC19-01 is considered very encouraging by Archer. In addition to the presence of copper, zones of albitite and molybdenum mineralisation were also intersected in holes HDRC19-01 and HDRC19-02 and when combined with geological observations of the surrounding host rock sequence also provides strong support for an intrusive style mineralising event. | |
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