11:48 AM EDT, 03/22/2024 (MT Newswires) -- Archer Exploration Corp. ( RCHRF ) on Friday reported results of its 2024 Winter Exploration Program at the Grasset Nickel Project ("Grasset") in the Abitibi Greenstone Belt of Quebec, Canada.

The company's stock plunged 10% on last look on Friday.

Among the highlights, the company said drill hole GR24-10A intersected the newly discovered H1X Zone at 400 meters below surface. Results included 2.67% nickel, 0.44% copper, 2.32 grams per ton of platinum-palladium over 2.90 meters.

This includes 4.08% nickel, 0.98% copper, 4.57 grams per ton of platinum-palladium over 0.85 meters. The company reported within a larger zone grading 1.19% nickel, 0.17% copper, 0.99 grams per ton of platinum-palladium over 8.20 meters.

Also, the H1X Discovery Zone, discovered in 2023, is a high-grade south-eastern extension of the H1 Zone, the company added.