Buxton (ASX:BUX) sees black at Gascoyne Graphite Bull

Buxton Resources has seen the shine of black and intersected substantial visual zones of graphite in core above target depth during ongoing drilling over its fully owned Graphite Bull project in the Gascoyne region of Western Australia.

The highly graphitic zone is exposed at surface and has been interpreted to correlate with a high-grade intercept of 33 metres at 18.7 per cent total graphitic carbon from 11m recorded last year.

Geological logging indicated 32.31 metres of graphitic material mostly above a 5% TGC grade, and earthworks also uncovered highly graphitic zones at surface, some located directly up-dip from one of the more prominent zones.

The newly defined zones lie outside an inferred JORC resource of 4 million tonnes at 16.2% TGC, with Buxton seeing another opportunity for resource growth from a campaign already slated for a major upgrade.

Drilling is currently 200-300m above the planned depth of 650-750m, just now entering a target zone defined by the electromagnetic plates which have so far all shown a direct correlation with graphite mineralisation.

“Extension and exploration drilling continue to deliver new graphitic intersections at Graphite Bull,” Buxton Chief Executive Marty Moloney said.

“These visual results highlight the multiple opportunities for resource growth at this project and its increasing potential to be developed into a long-life producer of battery anode concentrate material.”

With high proportions of material compared to other commodities such as gold, graphite is relatively simple geologically, but its potential products are diverse, and metallurgy is a crux.

Work to that end has so far shown highly encouraging recoveries, results Buxton believes support the development of Graphite Bull as one of Australia’s most promising graphitic assets.

And Australia has been one of the more promising exploration frontiers away from China, sitting alongside Africa as the more likely sources of diversified supply as deficit forecasts build.

Chinese exports of battery material natural graphite plunged after controls came in, hurting western battery makers but offering mineral explorers and developers a new opportunity to claim a place in global supply chains.

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