Archer Intersects 1.82% Nickel Over 4.60 Metres at Grasset, Expands H1 Zone at Depth
Archer Intersects 1.82% Nickel Over 4.60 Metres at Grasset,
Expands H1 Zone at Depth
VANCOUVER, BC, June 15, 2023 – Archer Exploration Corp. (CSE: RCHR ) (the “Company” or “Archer Exploration”)
is pleased to provide an update on its ongoing 2023 nickel sulphide exploration program at its 100% owned Grasset
project, located in the northern Abitibi Greenstone Belt of Quebec, Canada.
Recent drilling has focused on testing for immediate extensions of the Grasset Nickel Deposit. Hole GR23 -03
represents the highest mineralized intercept to date in the H1 Zone, which remains open at depth and along strike.
Highlights
• GR23-03 intersected 1.82% Ni over 4.60 metres, including 5.75% Ni over 0.60 metres at a depth of 330
metres below surface
• The 4.60 metre interval includes 0.95 g/t Pd and 0.40 g/t Pt, with a subinterval of 3.85 g/t Pd and 1.68
g/t Pt over 0.60 metres
• This intercept represents the thickest, highest nickel sulphide tenor mineralization intersected to date in
the H1 Zone
• The H1 Zone remains open at depth and along strike
• Visible gold was intersected 250 metres below surface, with assays of 49.1 g/t over 0.30 metres
Tom Meyer, Archer’s President and CEO, commented: “We are excited by the extension of the higher grade H1 Zone
at depth and the opportunity to further grow the resource base with improving nickel grades. This portion of the H1
Zone has seen little drilling given the previous focus on the larger H3 Zone. The continuity of the higher nickel tenors
over larger widths in H1 has positive implications for potentially expanding the resource and improving our
understanding of the mineralizing event that led to the formation of this exciting nickel discovery”.
Jack Gauthier, VP Exploration, commented: “The mineralization was higher grade and more extensive than anything
we have seen in the H1 Zone to date. Furthermore, in addition to this zone being wide open at depth, this hole is more
than 200 metres away from the next nearest hole which leaves open the possibility of materially growing the size of
the H1 Zone.”
Figure 1 shows the plan view of the drilling targets relative to the surface projection of H3 and H1 Z ones that
comprise the Grasset mineral resource. The high-grade H3 Zone contains the bulk of the mineral resource and was
the focus of previous drilling campaigns.
Drill holes GR23-03 and GR23-04 were recently completed and assays have been received for a portion of GR23-03
(Table 1). GR23-04 was completed to a depth of 886 metres having crosscut both contacts of the main ultramafic
rock units without any obvious visible massive sulphide mineralisation , however, disseminated sul phides were
observed over the expected intersection of the H3 and H1 Zones. Assays for GR23-03 and GR23- 04 are currently
pending.
Hole GR23-05 was paused after 558 metres due to the forest fire evacuation order issued by the province of Quebec
(see news release dated June 5, 2023 ). Hole G R23-05 is designed to test the vertical extension of the most
prospective area of H3 at a depth of 1,000 metres below surface and is anticipated to intersect H1 at a vertical depth
of approximately 1,200 metres.
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Figure 1: Plan View of Grasset Drilling Targets and Section Locations
Table 1: Summary of Assay Results Hole GR23-03
Hole-ID From
(m)
To
(m)
Length
(m)
Ni
(%)
Cu
(%)
Co
(%)
Pt
(g/t)
Pd
(g/t)
GR23-03 399.0 404.2 5.20 0.35 0.03 0.01 0.07 0.15
and 404.2 408.8 4.60 1.82 0.22 0.04 0.40 0.95
incl. 408.2 408.8 0.60 5.75 0.24 0.13 1.68 3.85
All lengths are downhole lengths and true widths are expected to be greater than or equal to 60-70% of downhole
lengths.
As outlined in the Company’s press release on May 11, 2023, the objective of hole GR23- 03 was to test for an
extension of the nickel mineralization southeast of the current resource, approximately 200 metres beneath
historical hole GR-14-38, which intercepted 0.51% nickel over 4.51 metres, including 0.80% nickel over 1.07 metres
in the H1 mineralized horizon (Figure 2).
The only other completed hole in the area is GR12 -09, approximately 110 meters to the east of GR14-38. GR12-09
intersected 0.53 % Ni over 8.55 meters, including 1.34% Ni over 0.40 metre s and 0.94% Ni over 0.49 meters. Both
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holes are 3 00 metr es from the eastern limit of the Grasset mineral resource and are located within a circular
magnetic anomaly.
Hole GR23-03 also intersected a small auriferous veinlet within the Temiskaming -type sediments grading 49.1 g/t
gold over 30 centimetres. The one centimetre, smoky quartz veinlet with visible gold, was encountered 250 metres
below surface within Timiskaming-type conglomerates. Anomalous gold mineralization has been identified proximal
to the H3 and H1 Zones in previous drilling campaigns. Historically, the focus of the area around Grasset has been
on gold and the previous owner of the property serendipitously discovered nickel while exploring for gold in 2012.
The current exploration focus is on nickel, but the high-grade gold intercept is further evidence of a rich geological
setting for discovering gold and nickel deposits.
Figure 2: GR23-03 Cross Section
The longitudinal section (Figure 3) shows the area around the intersection of hole GR23-03 is wide open with no drill
holes below the intercept and no drilling 200 metres to the northwest and southeast towards where the Sunday
Lake fault cuts the H1 Zone.
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Figure 3: H1 Horizon Long Section Grade Thickness
Hole GR-23-04 was completed to a depth of 886 metres (assays pending) and was designed to test for an extension
of the H3 Zone below the current resource at a depth of 350 metres, within the middle of the resource area. The
hole crosscut both contacts of the main ultramafic rock units without any obvious visible massive sulphide
mineralisation, however, disseminated sulphides were observed over the expected intersection of the H3 and H1
Zones.
Table 2: Drillhole Collar Coordinates
Hole # East North Elevation
(m) Azimuth Dip Hole Length
(m)
GR23-03 679950 5539498 291 30 -60 576
The Grasset Project
The Grasset Deposit, discovered in 2012 and located at the southern end of the Grasset Ultramafic Complex ,
comprises two sub -parallel, and sub-vertically dipping zones (H1 and H3) of disseminated to locally semi- massive
sulphide mineralization. The H1 and H3 Zones remain open at depth and along strike to the northwest and southeast.
In 2021 an updated mineral resource estimate, using a 2016 drilling cutoff, was completed with an Indicated
Resource estimate of 5.5 Mt grading 1.53% nickel equivalent (NiEq) and an Inferred Resource estimate of 217,000
tonnes grading 1.01% NiEq.
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The vast majority of the Grasset Ultramafic Complex is underexplored and limited exploration prior to 2016 resulted
in the discovery of several significant nickel sulphide showings along the 23 km long belt. Most notable is the GUC
Central discovery, 7 km northwest of the Grasset Deposit, which hosts a 950 m thick ultramafic sequence with several
horizons of nickel sulphides and a best mineralized intercept of 4.14% Ni over 0.65 m, within 7.58 m of 1.05% Ni.
The Grasset deposit is one of the largest nickel sulphide deposits in Canada’s Abitibi region and the only North
American nickel sulphide deposit, with more than 50,000 contained tonnes of nickel and an average NiEq grade of
over 1.5%, not controlled by a major mining company.
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.
All 'GR23' series drill holes were completed by Archer, and geochemical analyses were completed for the Company
by ALS Canada Ltd. in Val d’Or, Quebec. All other drill holes were completed by previous operators and geochemical
assay data has been compiled from historical assessment reports or provided by the previous operator(s). This news
release may refer to properties other than those in which the Company has an interest. Mineralization on those
other properties is not necessarily indicative of mineralization on the Company’s properties. For additional
information regarding the Company’s Grasset Project, including its quality assurance and quality control procedures,
please see the Grasset Project Technical Report dated effective September 2, 2022, on the Company ’s profile at
www.sedar.com.
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 5.5Mt @ 1.53% NiEq. In addition, the Company
holds a strategically significant portfolio of 37 properties and over 300 km2 in the world -class mining district of
Sudbury, Ontario.
Archer’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.
Tom Meyer
President & Chief Executive Officer
Tel: +1 866.899.7247 (RCHR)
Email: [email protected]
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