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Archer Exploration Ltd

Archer Exploration first assays support presence of large copper-gold system

Drilling at the project continues with additional assay results pending.

Drilling at the Hood prospect at the Blue Hills Copper-gold Project
Drilling is targeting a large copper-gold system at the Hood Prospect

Archer Exploration Ltd (ASX:AXE) has received assays from the first two holes drilled at the Hood Prospect within the Blue Hills Copper-Gold Project in South Australia.

Reverse circulation (RC) drilling intersected copper from surface in the first drill hole showing 24 metres at 0.1% copper.

The second hole was drilled 51 metres away from the first and intersected 46 metres at 0.05% copper from 40 metres depth in similar geology to the firs thole.

The assays are supportive of Archer’s geological model and suggest the presence of a large intrusive related copper-gold mineralising event.

HDRC19-01 depths 54 and 55 metres showing the bleaching at 55 metres (sodic alteration)

READ: Archer Exploration’s drill results confirm potential for large copper-gold system at Blue Hills

Archer’s executive chairman Greg English said: “At Hood we have received positive results from the first drill holes ever drilled in this area, and we believe that the results from HDRC19-01 could represent the edge of a much larger system.

“Importantly, the presence of molybdenum, albitite and alteration in both holes HDRC19-01 and HDRC 19-02 supports our conceptual model that an intrusive style mineralising event is driving the copper-gold mineralisation at Hood.”

Further assays pending

Blue Hills’ RC drill program involves the drilling of up to 12 holes for 1,800 metres at the Hood, Hawkeye, Katniss and Legolas Prospects

Additional assays will be reported as they become available.

Drilling continues to test soil anomalies and geophysical targets previously identified by Archer over the wider Blue Hills area.

These other target areas are Katniss and Hawkeye located 4.5 kilometres to the North of the holes being reported at Hood.

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