Archer Exploration Resumes Drilling at Grasset
Archer Exploration Resumes Drilling at Grasset
VANCOUVER, BC, July 20, 2023 – Archer Exploration Corp. (CSE: RCHR) (OTCQB: RCHRF) (FSE: 6YR0) (the
“Company” or “Archer”) is pleased to announce that the Company has resumed exploration at its Grasset
Project in the Abitibi Greenstone Belt of Quebec, Canada.
Tom Meyer, Archer’s President & CEO, commented: “ Our thoughts are with the people and the
communities within the affected wildfire areas, and we would like to offer a s pecial thanks to all fire
fighters and first responders who continue to work tirelessly to contain other wildfires in the region. Archer
is now able to safely resume work at Grasset after only a short interruption with no damage o r loss to
infrastructure. With drilling now underway, we expect to update the market about our progress in the near
future.”
On June 5, 2023, the Company announced that in response to an emergency order from the Quebec
Ministry of Natural Resources and For ests it had temporarily suspended all drilling and exploration
activities in the James Bay territory and evacuated all personnel from the area. The Quebec Ministry of
Natural Resources and Forests has since partially lifted these restrictions and the Company has resumed
exploration and drilling at Grasset.
The Company is not aware of any damage or loss to infrastructure and will continue to monitor wildfire
development in the region and respond proactively and accordingly should the situation change.
Grasset Resource Drilling
As announced on Ju ne 5, 2023, drill hole GR23 -05 was paused after 558 metres due to the wildfire
evacuation order. Drilling has now resumed and GR23-05 will proceed as planned, testing one of the more
prospective areas of the high-grade H3 Zone at a depth of 1,000 metres and is expected to intersect the
H1 Zone at a depth of 1,200 metres below surface.
On June 15, 2023, the Company announced that hole GR23 -03 intersected 1.82% Ni over 4.60 metres in
the H1 Zone, which represents the thickest, highest nickel sulphide tenor mineralization intersected to
date in H1. Importantly, this confirms that the H1 Zone may be more extensive than what was previously
understood and potentially higher -grade at depth , approximately 200 metres to the southeast of the
currently defined resource (Figure 2).
The mineral resource has been defined down to a vertical depth of approximately 600 metres, with the
deepest mineralized intercept 775 metres be low surface in the H1 Zone where hole GR -18-102A
intersected 2.76% Ni over 0.51 metres within a broader intercept of 0.41% Ni over 14.51 metres.
Both mineralized horizons remain open at depth and along strike.
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Figure 1 – Grasset Deposit Planview and 2023 Drilling Targets
Figure 2 – H1 Horizon Long Section Grade Thickness
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Qualified Person
The scientific and technical content of this press release has been reviewed and approved by Mr. Jacquelin
Gauthier, P.Geo, Vice President, Exploration, who is a "Qualified Person" as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Archer
Archer Exploration is a Canadian Ni -Cu-Co-PGE focused exploration and development company with an
extensive portfolio of assets in Quebec and Ontario, Canada. The Company’s flagship asset is the Grasset
Project, located within the Abitibi Greenstone Belt, with an Indicated Resource of 5.5 Mt @ 1.53% NiEq.
In addition, the Company holds a portfolio of 37 properties and over 300 km2 in the world -class mining
district of Sudbury, Ontario.
The Company’s growth strategy is focused on the exploration and development of its nickel sulphide
properties within its portfolio. Archer’s vision is to be a responsible nickel sulphide developer in stable
pro-mining jurisdictions. Archer is committed to socially responsible exploration and development,
working safely, ethically, and with integrity. For more information, please visit
www.archerexploration.com.
Tom Meyer
President & Chief Executive Officer
Tel: +1 866.899.7247 (RCHR)
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
The information contained herein contains “forward-looking statements” within the meaning of applicable
securities legislation. “Forward-looki ng information” includes, but is not limited to, statements with
respect to the activities, events or developments that Archer expects or anticipates will or may occur in the
future. Generally, but not always, forward-looking information and statements can be identified by the
use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and
phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved” or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among
others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned
exploration activities, that general business and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed and on reasonable terms, that third party
contractors, equipment and supplies and governmental and other approvals required to conduct Archer’s
planned exploration activities will be available on reasonable terms and in a timely manner. Although the
assumptions made by Archer in providing forward-looking information or making forward-looking
statements are considered reasonable by management at the time, there can be no assurance that such
assumptions will prove to be accurate.
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By their nature, forward -looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors and risks include, among others: risks associated with the
conduct of the Company's mining activities; regulatory, consent or permitting delays; risks relating to
reliance on the Company's management team and outside contractors; risks relating to project financing
and equity issuances; risks and unknowns inherent in all mining projects; laws and regulations governing
the environment, health and safety; the ability of the communities in which the Company operates to
manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19
to the Company; operating or technical difficulties in connection with mining or development activities;
employee relations, labour unrest or unavailability; the Company's interactions with surrounding
communities; the Company's ability to successfully integrate acquired assets; the speculative nature of
exploration and development; stock market volatility; conf licts of interest among certain directors and
officers; lack of liquidity for shareholders of the Company; litigation risk; the ongoing military conflict in
Ukraine; general economic factors (including inflationary pressure); the price of commodities; and the
factors identified under the caption "Risk Factors" in the Company’s public disclosure documents.
The forward-looking information contained in this news release represents the expectations of Archer as
of the date of this news release and, accordingly, is subject to change after such date. Readers should not
place undue importance on forward-looking information and should not rely upon this information as of
any other date. Archer does not undertake any obligation to update these forward-looking statem ents in
the event that management’s beliefs, estimates or opinions, or other factors, should change.