Archer unveils high grade rock chip sampling results
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
The Yarcowie Project is located approximately 20 kilometres east of the Tesla 100MW battery array at Jamestown, South Australia. The Yarcowie tenement area crosses the Barrier Highway and is within close proximity to existing rail, power, gas and other significant infrastructure.
While pleased with the results, AXE’s Executive Chairman, Greg English also highlighted the positive implications in terms of the group’s extensive holdings outside the areas sampled in saying, “The results of Archer’s maiden reconnaissance exploration program at Yarcowie are very pleasing, and we are very encouraged by this initial assessment of the wider potential of the project area”.
It should be noted here that AXE remains a speculative play and investors should seek professional financial advice if considering this stock for their portfolio.
English explained that the group’s combined holdings across North Broken Hill, Ketchowla, Polinga and now Yarcowie provide it with cobalt projects with different styles of cobalt mineralisation covering an area in excess of 1200 square kilometres.
The Yarcowie Project (EL 5935) covers an area of 304 square kilometres, and while management was aware of low grade cobalt previously reported at one location within the tenement area, it previously had been unable to explore the tenement due to the ongoing success at Blue Hills (copper) and North Broken Hill (cobalt).
The initial exploration work at Yarcowie has targeted areas and geology deemed by the company to be prospective for cobalt mineralisation. Much of the area is under cover and samples were collected from those areas where rock outcrop was identified. Rock chips were collected over a large area at Yarcowie with grades ranging from 0.36 per cent to 0.94 per cent as indicated below.
In terms of its geological characteristics, the cobalt is hosted with manganese which appears as outcrop within a larger zone of extensive quartz veining. Most of the outcrop is concealed by soils and as such, future exploration will be focussed on determining the extent of the mineralisation through mapping and additional sampling.
Meanwhile, the company will continue the regional rock chip sampling across the rest of the Yarcowie Project area, no doubt hoping for further high-grade returns such as those announced today.
Eyre Peninsula tracking well
In news regarding its 100% owned Eyre Peninsula Graphite Project, AXE announced today that its wholly owned subsidiary Pirie Resources had received draft mining lease terms from the South Australian Government.
The terms and conditions relate to mining tenements including Campoona, Sugarloaf and Pindari. AXE is reviewing the documents and will respond accordingly.
The potential grant of the Mining Tenements in conjunction with the acquisition of Carbon Allotropes and the appointment of Mohammed Choucair as CEO, puts AXE in a strong position to move this project forward.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
