- Archer Exploration (CSE:RCHR) has resumed drilling at its 100-per-cent-owned Grasset Nickel Project in Quebec’s Abitibi Greenstone Belt
- Drilling will test shallow depth extensions of the recently discovered nickel-rich massive sulphide zone
- The fall program will consist of two holes and roughly 1,200 metres of drilling
- Shares of Archer Exploration are up 4.76 per cent to C$0.11 as of 11:50 am ET
Archer Exploration (CSE:RCHR) has officially resumed drilling at its 100-per-cent-owned Grasset Nickel Project in Quebec’s Abitibi Greenstone Belt.
In a news release, the Vancouver-based company said drilling will test shallow depth extensions of the recently discovered nickel-rich massive sulphide zone that was by hole GR23-03 during summer 2023 drilling.
Archer Exploration also noted the fall program will consist of two holes and roughly 1,200 metres of drilling.
“The fall 2023 campaign will test the newly discovered nickel-rich sulphide mineralization identified by hole GR23-03 and the subsequent down hole electro-magnetic surveys will provide invaluable targeting data for extensions to this new zone as we begin planning for a larger winter 2024 drilling program at Grasset,” Tom Meyer, CEO of Archer Exploration, said in a statement.
The Grasset Deposit was discovered in 2012 and is at the southern end of the Grasset Ultramafic Complex. An updated mineral resource estimate from 2021, using a 2016 drilling cutoff, showed an indicated mineral resource estimate of 5.5 Mt grading 1.53 per cent nickel equivalent and an inferred mineral resource estimate of 217,00 tonnes grading 1.01 per cent nickel equivalent.
Archer Exploration has a goal of being a responsible nickel sulphide project developer in stable pro-mining jurisdictions.
Shares of Archer Exploration are up 4.76 per cent to C$0.11 as of 11:50 am ET.
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