- Buxton Resources (BUX) completes a scout reverse circulation (RC) drilling program at its Graphite Bull project in the Gascoyne Region of WA
- Five holes were drilled for 991 metres, all of which intersected graphite mineralisation
- The program confirms a mineralised strike extent of more than 1880 metres and to depths of 200 metres below the surface
- Buxton says the program, together with its ongoing metallurgical testwork results, position Graphite Bull as the “most attractive graphite project in WA, possibly Australia”
- Buxton shares are up 31.43 per cent, trading at 23 cents at 3:51 pm AEDT
Buxton Resources (BUX) has struck graphite mineralisation in a scout reverse circulation (RC) drilling program at its Graphite Bull project in the Gascoyne Region of WA.
The company drilled five holes for 991 metres, all of which intersected graphite mineralisation.
Buxton said the program aimed to test recently-defined ground electromagnetic (EM) targets that revealed Graphite Bull as a much larger mineralised system than previously thought.
The company said the program confirmed that “multiple, substantial zones” of graphite mineralisation extended the 1880 metres of strike length and to depths of more than 200 metres from the surface.
Buxton’s 2014 inferred resource of four million tonnes at 16.2 per cent total graphitic carbon (TGC) occupies just 460 metres of this 1880-metre strike.
Buxton said the drilling results, together with its ongoing “outstanding” metallurgical testwork results, positioned Graphite Bull as the “most attractive graphite project in WA, possibly Australia”.
The company expects assay results from the program to be received in four to six weeks from when they were sent for assessment as it continues to de-mobilise its crew from the site.
Buxton shares were up 31.43 per cent and trading at 23 cents at 3:51 pm AEDT.