Business
Archer Exploration Provides Exploration Update at the Caster Property and Amends Option Agreement
VANCOUVER, BC, Oct. 21, 2021 /CNW/ - Archer Exploration Corp. (CSE: RCHR) ("Archer" or the "Company") is pleased to announce that it has commenced field work to
About this update from Northx Nickel Corp.
[{"type":"text","content":" VANCOUVER, BC, Oct. 21, 2021 /CNW/ - Archer Exploration Corp. (CSE: RCHR) (\"Archer\" or the \"Company\") is pleased to announce that it has commenced field work to follow-up on high-grade rock-chip results from previous and historical exploration activities on the Caster property, located in the Lac Paul region of Quebec (the \"Caster Property\"). The Company is also pleased to announce that it has agreed to extend certain deadlines in the option agreement dated August 1, 2020 (the \"Option Agreement\") between Geomap Exploration Inc. (the \"Optionor\") and the Company, pursuant to which the Company has an option to earn a 100% interest in the Caster Property. Highlights: Grab sampling from Company reconnaissance prospecting has identified the following: Massive magnetite and illmentie lenses and breccias identified associated with an anorthosite intrusive Assays up to 0.56% V2O5 from grab sampling Oxidised lenses traceable along northeast-southwest strike Lenses appear stacked and dipping to the south-east V2O5 anomalous (>0.10%) zones coincident with aeromagnetic features Limited assaying indicates favourable concentration of V2O5 and Fe2O3 via magnetic separation (Davis Test), with beneficiation averaging 288% for vanadium oxide. Notable titanium enrichment in non-magnetic component. High grade phosphate in form of appetite correlated with vanadium mineralisation, assaying up to 6.71% P2O5. To follow up on these very promising results the Company has planned a ground magnetic survey at the southwestern and eastern anomalies and the large northern magnetic area (Figure 1). \"We are very pleased to be getting back to the field to help define trenching and drilling targets on the two mineralised trends identified to date. We also plan to test the significant magnetic anomalies in the north. Critically the mineralisation has demonstrated that the vanadium and iron oxide grades can be significantly enhanced via magnetic separation, whilst titanium reports to the non-magnetic fraction and is also significantly enriched, which is very encouraging for future studies. The project is located just to the southwest of the advancing Lac Paul phosphate project, potentially opening up significant infrastructure synergies,\" stated Mike Brown, CEO of Archer. \"Vanadium has a growing role in battery technology for storage...