Archer Exploration Corp. announced that it has resumed drilling at its 100% owned Grasset Nickel Project in the Abitibi Greenstone Belt of Quebec, Canada. The exploration team is on site and drilling has commenced at Grasset, where the Company will explore a newly identified nickel-rich sulphide zone in the southeastern portion of the H1 Horizon.

The Fall 2023 drilling program will consist of two holes and approximately 1,200 metres. Hole GR23-07 will target the H1 discovery zone at a depth of approximately 100 metres below the high-grade intercept southeast of hole GR23-03, while hole GR23-08 will test for mineralized extensions about 50 metres south-east and 150 metres deeper than GR23-07. Once drilling has completed, DHEM surveys will be conducted to help define this new zone and assist in the planning of an expanded 2,000 metre diamond drilling program in early 2024 that is planned to include further step-out holes that will test for extensions.

The Fall 2023 campaign is designed to test the highly prospective new target zone identified by drill hole GR23-03 and DHEM surveys during the Summer 2023 drilling campaign. In June 2023, the Company reported that hole GR23-03 intersected 1.55% Ni over 5.80 metres, including 5.75% Ni over 0.60 metres of massive sulphides within a large untested area in the southeastern portion of the H1 Horizon. The extent of this newly discovered and completely untested zone has yet to be defined but contains known mineralized intercepts at its periphery as defined by DHEM survey results and historical drill holes.

The longitudinal section shows that the area around the intersection of hole GR23-03 is wide open for mineralized extensions with no previous drill holes below the intercept and no drill holes within 200 metres to the northwest or to the southeast of GR23-03 towards the regional-scale Sunday Lake Deformation Zone which truncates the H1 Horizon. A high-powered InfiniTEM-XL electromagnetic surface survey, performed in 2023, has defined a conductive plate that is consistent with the high-grade mineralization discovered in hole GR23-03. The interpreted conductive plate is 400 metres by 400 metres and begins 290 metres below surface.

A very similar 400-metres by 400-metre conductive plate was detected at the same depth approximately two kilometres north-east of S6. Both conductive plates are located at the northern basal contact of an ultramafic sequence. To date, only one shallow hole, almost two kilometres to the northwest, has intersected the ultramafic contact where N9 is located.

As is the case along H1, sulphide-rich sedimentary rocks are sub-parallel and close to the N9 ultramafic contact. This is significant, as in the nickel magmatic metallogenetic model, assimilation of the sedimentary sulphides by the ultramafic magma is the key mechanism to the precipitation and accumulation of the nickel sulphides at the bottom of the ultramafic sequence. The geological and geophysical similarities between conductive plates S6 and N9 make plate N9 a high priority drilling target that will be tested during the 2024 winter drilling program.

Holes GR23-04 and GR23-05 were designed to test the down extension of the H3 Horizon at a depth of 600 and 1,000 metres, respectively. The two holes intersected disseminated sulfides where the Extension of the H3 and H1 Horizons were expected but did not return any significant nickel values. Hole GR23-06 was designed to test a deep-seated 3D magnetic anomaly at the north-west limit of the mineralized zone and successfully intersected two separate ultramafic sequences containing zones of disseminated sulphides but did not intersect any significant mineralization.

As a priority objective to expand the Grasset resource and identify new targets along the ultramafic corridor in the south-east part of the property, the Company conducted a 53-kilometre surface InfiniTEM-XL survey and continues to utilize DHEM surveys where applicable. Results from the InfiniTEM-XL and DHEM surveys have been received and an interpretation is underway. In addition, analysis of the final data from the airborne magneto-telluric survey covering the entire 23-kilometre-long property is also progressing.

Management is compiling the new data which will be incorporated into a new geological model based on the re-logging of more than 50% of the holes covering the H1 and H3 Horizons. The Grasset Deposit is situated at the southeastern end of an underexplored 23-kilometre claim block containing abundant favourable ultramafic rocks. A sonic drill program was initiated to sample the base of the glacial till (60-90 metres thick).

Such thick overburden, and the lack of outcrop renders the Grasset Deposit and other mineralization blind to conventional surface geochemical sampling techniques. This technique is commonly used with success in exploration campaigns for detecting mineral deposits under thick overburden. The preliminary results from the sonic drilling program were initially inconclusive but follow-up analysis has demonstrated the potential of this important exploration tool.

The Company is conducting a higher resolution analysis of the clasts and heavy minerals within a select group of key samples. The basal till, in the last 8-12 metres, is typically composed of sub-angular mafic to ultramafic clasts with felsic clasts in a silty-sand matrix. Assay results of the fine fraction of the till samples remain outstanding.

In addition, the Company is also revising the preliminary interpretation of the glacial movement history over claim blocks with the guidance of leading experts in Quaternary geology.