February 6, 2012
Multiple gold intersections have been identified with a 41 meter zone in TB006. Please see our news release ASP2012-02
January 20, 2012
The Company has entered into two indicative proposals to acquire gold properties in the Rice Lake Manitoba Greenstone Gold Belt, in close proximity to San Gold's Rice Lake gold mine. Please see our news release ASP2012-01
The Company is participating in the upcoming Cambridgehouse Resource Investment Conference, Jan, 22 and 23, 2012. It will also be participating at the Hong Kong Mines and Money Conference MArch 20, 2012
Now that the Australian Christmas/New Year break is over, drilling and SAM survey programs have recommenced. The Company is awaiting assay results from over 500 samples submitted prior to the Christmas break.
Archean's Gnaweeda property lies approximately 10 km to the east of Doray Minerals Andy Well property. Doray is a ASX listed company that is increasing the size of its 329,000 ounce plus Andy Well property, and has reported that Ramelius Resources, also an ASX listed Company, has purchased over 8% of Doray from the open market.
Visible gold in a new mineral suite has been identified at the Bunarra zone and appears to run parallel to the 18 meters of 11.71 g/t Au hosted in the quartz-tourmaile-arsenopyrite-prite mineralized suite found in BN003.
An up to 3,000 meter diamond drill program at both Bunarra and Turnberry gold zones is underway, with drilling to recommence after the Christmas break. (see news release ASP2011-13
The Company has expended in excess of AUD$1,969,000 on Gnaweeda to date and has met both the first and second years expenditures (AUD$1,500,000 required under the Teck Agreement in order to earn 100% of Teck's interest in Gnaweeda. The Company expects to have completed the earn in by the end of February, 2012.
The recently completed Resistivity and IP Chargeability Survey at the St. Anne's and Bunarra prospects at the Gnaweeda Gold Project has identified a large IP chargeability zone immediately to the south east of the high grade zone. Mineralization appears to be well developed between the resistivity lows and the resisitivty highs and in proximity to the IP chargeability high. Drill targets are being re-defined based upon the resistivity and IP chargeability results.
The recent diamond drill program at Bunarra identified mineralized zone with a known strike from the NNW to the SSE of approximately 200 meters, that is open along strike and to depth, and mineralization of up to 50 meters in width. This included hole BN003, that was drilled in March of 2010, that intersected a 50 meter zone from 100 meters downhole to 154 meters downhole containing gold associated with arsenopyrite/pyrite mineralization, of which 18 meters averaged 11.71 g/t Au.
Diamond drilling has also identified the halo of lower grade gold, from 0.3 g/t Au to 0.4 g/t that is typically associated with the higher grade zones, suggesting that the Bunarra mineralized zone may be greater than currently defined.
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