Please note it is the
Agricultural carbon - soil conditioner,
NOT the Graphite / Graphene processing facilities that are located at Sugarloaf that will process the Campoona Graphite.
Sugarloaf Agricultural Carbon
The Sugarloaf deposit is located adjacent to the proposed Sugarloaf graphite and graphene manufacturing facility. Sugarloaf is not a typical crystalline graphite deposit as much of the carbon is non-graphite carbon that also contains silica and a range of trace minerals. Initial preliminary test work showed that Sugarloaf carbon had the ability to improve soil wettability and water retention when added to soils in large quantities.
Despite this early success, the Company has decided to focus its attention and finances on development of the Campoona Shaft graphite and graphene project and will not be developing the Sugarloaf Agricultural Carbon project further, at this time.
Whilst Archer will not be developing this project in the near term, during the year the Company acquired the Cockabidnie Project to enhance the future potential of the project. The Cockabidnie tenement is located immediately south of Sugarloaf. An analysis of historic drill results from previous explorers over the area allowed Archer to significantly increase the Exploration Target for Sugarloaf from 40 – 70 million tonnes @ 10 – 12% TC to 60 – 90 million tonnes @ 10 – 12% TC.
Page 8 of the annual report 2017,
Earlier ASX announcement
http://www.archerexploration.com.au/assets/pdfs/151209_SugarloafUpdate.pdf
(20min delay)