Archer Exploration Limited (ASX:AXE) has received drilling results from Hood prospect of the Blue Hills project in South Australia, confirming large intrusive style copper-gold alteration.
The aim of the reverse circulation (RC) program, which involved Hood, Katniss and Hawkeye prospects, was to test large areas of coincident copper-gold targets.
These targets were identified from geochemical, rotary air blast (RAB) drilling and electromagnetic (EM) surveys.
Archer executive chairman Greg English said: “We have had an excellent start to our maiden exploration program at Hood.
“The early drilling results confirm what could potentially be a very large copper gold system.”
Multiple phases of alteration
RC drilling of soil anomalies and ground EM conductors intersected multiple phases of alteration with veins comprising quartz-carbonate-hematite and sulphide mineralisation observed in rock chips.
This indicates the capacity to host copper-gold mineralisation, which will be tested with additional drilling.
“Only a small part of our overall project area”
English said: “The spatial alteration and zonation pattern of large intrusive copper gold systems is well understood, and what we have seen at Hood so far is consistent with this style of mineralisation.
“In terms of the wider potential, it is also important to note that Hood is only a small part of our overall project area, with the larger North Burra project covering an area more than 3,000 kilometres.”
Magnetite, pyrite and chalcopyrite were also discovered at the depths expected in the EM model.
READ: Archer Exploration highlights advanced materials business strategy amid exploration divestments
Archer’s vision is to build a long-term, viable mineral and materials development business focusing on areas related to quantum technology, health and reliable energy.
In September last year Archer CEO Mohammad Choucair said: “Although we’re across three areas, our focus is on the advanced materials that underpin these technologies.
“We’re in a very good position because we have a suite of materials that can solve problems end-to-end with global impact – we can make these technologies quite accessible to very large markets.”
Archer has been progressing exploration at Blue Hills with the objective of discovering copper-gold mineralisation.
The three holes drilled at Hood support the application of the mineralisation model with further drilling analysis to take place at Katniss and Hawkeye next month.
- Jessica Cummins