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Archer Exploration Ltd

Archer Exploration review suggests potential for copper-gold system at Blue Hills

The company is now turning its attention at the project to identifying new exploration targets.

map of Australia with South Australia marked
AXE has explored less than 1% of the 3,000-square-kilometre tenement holding

Archer Exploration Ltd (ASX:AXE) conducted an independent review of the February 2019 drilling program at its Blue-Hills Copper-Gold Project in South Australia.

While drilling did not intersect an economic system, it identified copper, gold, molybdenum as well as pathfinder elements such as bismuth, tellurium and arsenic.

Modelling of the results from the drilling program supports the presence of an intrusive style mineralising event that has the capacity to host copper-gold mineralisation.

Blue Hills regional geologic setting closely resemble areas hosting significant deposits such as Nifty copper deposit, the Telfer copper-gold deposit, and the Winu copper-gold deposit.

Focus moves to identifying new exploration targets

The independent review of Archer’s recent drilling at Blue-Hills confirms that Archer’s exploration model is valid.

Archer has applied for an additional exploration licence in the Blue Hills area and intends to collate all available information from the new tenement area for incorporation into the Blue Hills model to identify future exploration targets.

READ: Archer Exploration advances dual quantum computing and graphite technologies

Archer’s 100% owned Blue Hills Copper-Gold Project is part of the larger North Burra project area which covers an area of more than 3,000 square kilometres.

Three large gold and copper in soils anomalies have been discovered at Blue Hills - Hood, Hawkeye and Katniss.

Regional exploration programs have also identified multiple other targets which are yet to be tested.

Quick facts: Archer Exploration Ltd

Price: $0.13

Market: ASX
Market Cap: $25.62 m
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