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Archer Exploration Ltd.
Summary
| Project: | Polinga | |
|---|---|---|
| Deposit: | Polinga | |
| Location: | Australia | |
| Commodities: | Cobalt-Manganese | |
| Date: | 2/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-2-2017: Archer Exploration Ltd. announces an Exploration/Drilling Update report for its Polinga deposit at the Polinga project. Drilling results incl. 6m @ 0.15% Co from 27m. Archer Exploration Limited (ASX: “AXE”) is pleased to announce high grade cob | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wade Bollenhagen (Internal) | |
| ABSTRACT: | Archer Exploration Limited (ASX: “AXE”) is pleased to announce high grade cobalt results from the first six holes assayed at the Polinga Project, Eyre Peninsula, South Australia. The results confirm Polinga, as a major new discovery of high grade cobalt. The Polinga Project comprises a large north south trending structure that extends for over 20km and is open to north and south. At the southern end of Polinga, historic drilling by Lincoln Minerals intersected 6m @ 0.2% cobalt from 32 metres at Cockabidnie. At Central Polinga 5 out of 6 six holes assayed contained cobalt grades greater than 0.1%. Whilst historical rock chip samples at Hodgins (northern end of Polinga) have assays reporting up to 0.1% cobalt. Commenting on the drilling results, Archer’s Executive Chairman, Greg English said: “Archer has identified high grade cobalt with the first batch of central Polinga samples submitted and we are highly encouraged by the potential of the larger Polinga Project. The Polinga project extends for over 20km and remains open to the north and south.” “The high-grade cobalt results confirm Polinga as a new cobalt discovery. Although the single hole tested at Hodgins did not report any cobalt greater than 0.1% the presence of high grade cobalt in rock chips gives Archer the confidence to submit additional Hodgins drillholes for assay.” “The Polinga Project compliments Archer’s existing Ketchowla Cobalt Project and Broken Hill Cobalt Projects. Archer expects to start drilling Ketchowla in April.” | |
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