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Buxton Resources Ltd (ASX:BUX) says recent results from drilling and remodelling of prospects at its Narryer project in Western Australia’s Murchison region could indicate a significant new graphite province there.
Buxton has been progressing a reverse circulation (RC) drilling program at Narryer, with assays showing TGC (total graphitic carbon) grades of up to 9.06% across 20 metres, within a wider graphitic zone of 57.7 metres (true width) with a grade of 4.34 % TGC.
The highest grade yielded from the program – that is, from a single 1 metre RC sample – came in at 14.95% TGC from 240 metres.
Another feature of exploration work at Narryer has been the use of ground EM coverage of two prospects – Ranger and Oculus – with this being used to remodel the prospects to include additional early-time channels.
Crucially, the new model is now 2.9 times more extensive than the previous one, while also showing that Ranger’s graphite mineralisation likely projects up-dip to within 60 metres of the surface.
Models drawn up for Oculus also project to shallower depths.
The combination of both clusters of exploration data indicate – according to Buxton – the discovery of a new, and significant graphite province at Narryer, which itself is only 100 kilometres south of Buxton’s Graphite Bull play.
Buxton shares have moved up on the report, and at 12:24 AEST, they were trading at 5.9 cents – a rise of 3.51% since the market opened.
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