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Market:	ASX
Sector:	General Mining
EPIC:	AXE
Latest Price:	0.17 (0.00%)
52-week High:	0.25
52-week Low:	0.12
Market Cap:	11.08M

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Archer Exploration

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

Archer Exploration drilling confirms nickel-chrome anomaly on Eyre Peninsula, SA

Friday, March 12, 2010

Archer Exploration (ASX: AXE) completed A new drilling program last month and has defined a 1 km long coincident nickel/chrome anomaly (greater than 1,000 ppm nickel and chrome) at the company's 100%-owned Pindari project on South Australia’s Eyre Peninsula.

The anomaly is open to the west and has peak values of 0.37% Ni and 0.34% Cr, confirming Pindari’s nickel potential, and warranting further new drilling.

The results follow a207 hole 1,711 metre aircore drilling program conducted by Archer in the eastern portion of Pindari – part of the Carappee Hill tenement (EL3711) south of Kimba.

The outline of the nickel/chrome anomaly mirrors the shape of the core of the Pindari magnetic anomaly.

Bedrock rare earth (REE) values, whilst not correlating with the nickel and chrome geochemistry were elevated over a wide area. Peak REE values were generally 10-20 times REE crustal abundance.

The company said that these geochemical results confirm Pindari’s nickel potential, originally identified from a 1987 Stockdale hole recovered from the PIRSA core library, and show a close association with the core of the Pindari magnetic anomaly.

Future work will involve aircore drilling and sampling the western portion of the Pindari magnetic anomaly. A Reverse Circulation (RC) drilling program will be undertaken in the third quarter of 2010 to test the magnetic, electromagnetic and nickel/chrome geochemical Pindari anomaly at depth.

On the 26th November 2009, Archer released the nickel and chrome analysis results from two diamond holes originally drilled by Stockdale Prospecting Ltd in 1987 to test a prominent, regional, 3 kilometre diameter, circular magnetic anomaly on an area now covered by Archer Exploration’s 100% owned Pindari Project.

Archer reported that the 9-31m interval in hole, Pindari 1, averaged 0.19% nickel and 0.24% chrome.

Petrology investigations indicated nickel sulphides, pentlandite and violarite (Fe2N23S4 – a supergene nickel sulphide after pentlandite) were present within this Ni/Cr anomalous zone. The host rock is an ultramafic protolith probably rich in olivine and clinopyroxene, which has been metamorphosed and veined.

Commencing on the 28th January 2010, Archer carried out a 1,711m aircore drilling program to sample bedrock, through the shallow, variable, (1-10m) transported sand cover, which covers the Pindari magnetic anomaly.

The geochemical survey covered the eastern portion of the 3km diameter coincident magnetic and electromagnetic anomalies at Pindari.

Samples were taken approximately 2 metres below the cover materials on a 100x100 metre grid over the eastern portion of the 3 kilometre diameter Pindari magnetic anomaly.

The objective of this program was to define multi-element geochemical anomalies, which together with the magnetic and electromagnetic survey data, would define targets to be tested with deeper drilling during the second or third quarter of 2010.

Archer will analyse the results of the recent drill program at Pindari in order to plan follow up work. Additional aircore drilling and bedrock sampling over the untested western portion of the Pindari magnetic anomaly is likely to be the next step, followed by RC drilling in the third quarter of 2010.

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