Buxton (ASX:BUX) doubles depth extent of Gascoyne graphite
July 25, 2024Buxton Resources has intersected near-on 85 metres of graphite mineralisation and doubled the depth of drill-confirmed mineralisation as drilling continues at its Graphite Bull project in Western Australia’s Gascoyne region.
The 84.6m intersection included a 50.35m stretch within a Main Zone sitting 240m down-dip from the 4 million tonnes at 16.2 per cent total graphitic carbon Buxton established in 2014.
Buxton’s latest efforts have resulted in a doubling of the extent of mineralisation which remains open at depth, with multiple smaller intervals corresponding to the mapped mineralisation on the surface of Graphite Bull.
The lengthy intersection was within a target envelope defined by an electromagnetic model which has proven consistently successful in predicting mineralisation at depth, with no false-flag conductors drilled to date.
Buxton said the finding provided a massive boost for the company’s confidence in its drill planning and resource modelling, as drilling continues 600m eastward across open mineralisation along strike.
“We’ve found what we’re looking for in the place we expected and 240 metres below the existing Resource which itself is 240 metres deep on this section,” Buxton Chief Executive Marty Moloney said.
“This indicates the Main Zone at Graphite Bull is large, structurally simple and highly predictable – all positive characteristics for project economics.
“We’ve just started GB007DD which will again test the system at depth some 600 metres to the East.”
Drilling earlier intersected substantial visual zones of graphite in core above target depth, exposed at surface and interpreted to align with a strike of 33m at 18.7% TGC recorded last year.
Buxton believed the company held the highest reported grade JORC graphite resource in the nation when it established its resource a decade ago, but a lack of interest in the commodity at the time seems to have halted its development.
But supply chain concerns for the battery anode material had Australian assets back in vogue this decade and, after a quick scout trip early in 2023 drill-confirmed 1880m of strike over the 460m which held its resource, interest was renewed in the treasurechest.
Combined with breakthrough metallurgy, the confirmation had Buxton confident it held one of the nation’s best graphite assets on hand.
And Buxton is likewise bullish that its ongoing results have continued to highlight multiple opportunities for resource growth and the project’s potential to be developed into a long-lived production operation.
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