none

LUCKY GRAPHITE STRIKE BRINGS LITHIUM VIABILITY

31-01-2017
by 
in 
Overview map of Archer graphite operations on the Eyre Peninsula.

Archer Exploration has uncovered an extremely high-grade graphite deposit in the Eyre Peninsula of South Australia, with graphite carbon grades of almost 43% indicated.

The area surveyed was located near Archer’s Cockabidnie tenement near Cleve, about 240km northwest of South Australia’s capital Adelaide.

Assays of previous drill sites undertaken by Archer have reported graphite carbon grades of up to 42.8 per cent, making it the highest level recorded in the region. They also returned Cobalt grades of up to 0.2 per cent. Graphite levels this high are suitable for the manufacture of lithium-ion batteries.

The drill holes assayed by Archer are located just 5km south of the company’s proposed Sugarloaf Graphite Processing Facility and confirm the southern extension of the Sugarloaf deposit.

Archer Executive Chair Greg English said having the potential feed source so close to the proposed Sugarloaf facility would be a significant boost to the efficiency of future operations.

“With the drilling that we’ve done today, the geophysics and the success we have had in the region already, we are quite confident we will find something significant but obviously more follow up is required,” he said.

The new graphite finding was located northwest of Cleve near Sugarloaf Hill.

The company plans to mine about 10,000 tonnes per annum of graphite from the site with the intention of eventually doubling production.

English said Archer was positioned to have all the planning and approvals in place so the Sugarloaf processing facility and its nearby Campoona operations would be ready within 18 months.

Last year, a scoping study found Archer’s 2873 sq km Eyre Peninsula Graphite Project to be economically sound, with an initial capital cost of $36 million.

The Campoona mine will source feedstock from the three deposits and is expected to generate net pre-tax cash flow of AU$21.5 million a year for a life-of-mine pre-tax net cash flow of AU$366 million.

The indicated life-of-mine revenue is estimated at AU$858 million over 17 years.

Graphite is a highly effective conductor of heat and electricity – it is also the strongest natural material in the world.

“Our graphite is unique and here at the Eyre Peninsular we are able to get a very high quality product,” English said.

Related news & editorials

  1. LEAA Sector Benchmark Research
    15.04.2021
    15.04.2021
    by      In
    There is a move towards new and productive, even more technologically savvy, ways of working, according to the latest investigations by the Lifting Equipment Engineers Association (LEEA), from their sector benchmark research.
    Seventy-two percent of firms reported being optimistic for the next six... Read More
  2. 15.04.2021
    15.04.2021
    by      In
    Farmers already battered by drought, fires and floods now face large losses in crops and damaged equipment from the mice plague currently affecting areas from Queensland to Victoria to the South Australian Mallee.
    Haulage truck drivers have described ‘waves of movement’ across the road in grain... Read More
  3. australian made logo
    15.04.2021
    15.04.2021
    by      In
    You’ve seen the green and gold kangaroo on all kinds of products, but have you ever wondered exactly what it means, how it came to be, who is using it, or how you can use it yourself?
    The AMAG (Australian Made/Australian Grown) logo has been around for 35 years. Back in 1986, the Australian... Read More
  4. Hayley Glasgow
    12.04.2021
    12.04.2021
    by      In
    More than half (55%) of Australian manufacturers with off-shored operations intend to bring them back to our shores by 2023, according to a survey of 500 senior manufacturing employees in December last year.
    This is largely being driven by market volatility caused by the pandemic and strained... Read More
Products
Suppliers