Archer Exploration extends mineralization of Grasset Nickel Project in NWQ

Archer Exploration Corp. is pleased to announce the results of its 2023 Fall drilling program at its 100% owned Grasset Nickel Project  in the Abitibi Greenstone Belt of Quebec, Canada. 

Highlights

• Two holes drilled in December 2023 extend the H1 Discovery Zone by a depth of approximately 100 metres

• Hole GR23-07 intersected 0.44 metres of massive sulphides grading 2.97% Ni, 0.1% Cu, 4.1 g/t Pt-Pd under GR23-03 at a depth of 430 metres

• 60 metres to the South-East, at a depth of 420 metres, GR23-08 intersected:

  • 2.14% Ni, 0.91% Cu, 0.6 g/t Pt-Pd over 1.40 metres of net texture sulphides

  • 1.06% Ni, 0.14% Cu, 0.7 g/t Pt-Pd over 5.60 metres, including 1.61% Ni, 0.24% Cu, 1.1 g/t Pt-Pd over 2.50 metres, within a zone of net texture sulphides, 3 metres below the higher grade intercept

• In July 2023, GR23-03 intersected 1.55% Ni, 0.18% Cu, 1.17 g/t Pt-Pd over 5.80 metres, including 5.75% Ni, 0.24% Cu, 5.53 g/t Pt-Pd over 0.60 metres of massive sulphides, at a depth of 330 metres

• The Company remains fully funded following a $2 million private placement in November 2023 and is planning to resume drilling at the end of January.

"Drilling the South-East extension of the H1 mineralized zone at depth continues to provide very interesting results, with nickel grades higher than the H1 Indicated Resource grade of 0.82%" commented Jacquelin Gauthier, Archer's VP of Exploration. "With limited drilling we have discovered what looks like the fringe of another high-grade nickel conduit within a 500-metre-long untested area starting 300 metres below surface. We have great expectations for the next drilling phase that will commence in the 4th week of January."

Fall 2023 Drill Program

The objective of the Fall drilling program was to explore the nickel-rich sulphide zone discovered during Summer 2023 drilling in the southeastern portion of the H1 mineralized Horizon and was successful in extending the high-grade H1 Discovery Zone to a known depth of approximately 430 metres. The drilling program consisted of two holes totaling 1,132 metres. Hole GR23-07 intersected the H1 zone at a depth of 430 metres, 100 metres below the high-grade intercept of hole GR23-03 (Figures 2 and 3). The northern contact of the ultramafics, where H1 mineralization is located, was strongly sheared and hosted a few metres of disseminated sulphides. Within 10 metres of the ultramafic contact the hole intersected 0.44 metres of massive sulphides grading 2.97% Ni and 4.1 g/t Pt-Pd within felsic volcanics. Finding the massive sulphides outside the ultramafic rocks is a first on the Grasset Property but it's not uncommon in other nickel mining camps like Sudbury, or particularly Norilsk where the bulk of the mineralization is within the sediments under the ultramafics.

Hole GR23-08 cut the H1 horizon 60 metres south-east of hole GR23-07, at a depth of 420 metres. It intersected two zones of mainly net texture sulphides that graded 2.14% Ni over 1.40 metres and 1.06% Ni over 5.60 metres respectively (Figures 2 and 4). 

The results of the last two holes of 2023 confirmed the extension of the H1 mineralization at depth under discovery hole GR23-03, with nickel grades higher than the Indicated Resource grade of the H1 horizon of 0.82%. It also demonstrates the presence of a strong mineralizing system that is still open in all directions below 250 metres in the South-East part of the H1 horizon (Figure 2). Grades and textures observed indicated the potential for the last intersections to be at the fringe of a new high-grade-hosting ultramafic conduit.

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