Archer Exploration Limited (ASX:AXE) Received Manganese Assay Results From Recent Drilling On EL3711
OM Manganese Ltd (OMM), a wholly owned subsidiary of OM Holdings Limited (ASX:OMH) is required to fund A$600,000 over four years to acquire a 60% participating interest in the manganese and iron assets on Archer Exploration's 100% owned Carappee Hill License EL 3711.
The recent drilling was follow up to auger drilling and RC drilling in 2010, which had identified anomalous Mn along strike to the south of a previously identified Mn trend. All holes intercepted Mn of various percentages; the more significant intervals are presented below in table 1 (see link at the bottom of the release) and quoted at a 10%Mn cutoff grade.
A proposed diamond drill hole to test the metallurgical character of the manganese mineralisation was postponed until cropping by has been completed.
Figure 1 (see link at the bottom of the release) shows the locations of the holes drilled in April 2011 with respect to the area drilled previously in 2010
For the complete Archer Exploration Limited announcement including tables and figures, please refer to the following link:
About Archer Exploration Limited
Archer Exploration Limited (ASX:AXE) is an Australian Stock Exchange listed company with 100% ownership of 15 tenements and one Exploration Licence Application all in South Australia covering 6,053 km2.
Archer also has the rights to all minerals other than uranium on EL4693 covering a further 816 km2. Archer's main project is the Campoona Graphite Project which is located within reach of established and major developing infrastructure. It has a JORC 2004 Resource of 5.27 million tonnes @ 7.6 % TC (based on 2% TC cut-off).
Om Holdings Limited
Archer Exploration Limited