Archer Exploration Limited Completes Drilling at Campoona Graphite Deposits

Adelaide, Oct 27, 2011 (ABN Newswire) - Archer Exploration Limited (ASX: AXE) advises that the drilling programme at the Company's Campoona South and Grid 2 graphite deposits has been completed.

Drilling consisted of 9 RC drill holes for an aggregate 451 metres and was terminated 2 holes short due to heavy rain in the Cleve - Darke Peak area over recent days.

The purpose of the drilling was to confirm the depth continuity of the high grade Campoona South outcrop (>25% C) that hosts large flake graphite and to confirm the potential of the substantial EM signature corresponding to the Grid 2 graphite deposit. Both objectives were met.

Six drill holes were drilled at Campoona South. All six holes intersected highly graphitic intervals in sheared gneiss.

All three holes drilled at Grid 2 intersected wide graphitic intervals within weathered gneiss.

Estimates of the graphite present were achieved by sieving samples over water and recording the intensity of the layer of crystalline graphite left floating on the surface.

Samples have been submitted for laboratory analyses and are expected to take 2 to 3 weeks to complete. Additional samples for flotation are to be submitted to determine graphite recovery and the purity and flake size within the flotation concentrates.


About Archer Exploration Limited

Archer Exploration Limited (ASX:AXE) is a copper, gold and uranium explorer focused on the discovery of world-class ore deposits.

The company has carefully acquired a portfolio of projects, covering an area in excess of 7,000 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the company.

The company's flagship Evelyn Dam prospect in the West Roxby Project is an iron ore-copper-gold-uranium (IOCG-U) target which has a gravity anomaly similar in size to the nearby Olympic Dam operations.

Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company's world-class projects.


Contact

Mr Greg English, Chairman
Archer Exploration Limited
Tel: +61-8-8272-3288

Mr Gerard Anderson, Managing Director
Archer Exploration Limited
Tel: +61-8-8272-3288

Email: info@archerexploration.com.au
http://www.archerexploration.com.au