Buxton Resources (ASX:BUX) Graphite Bull sets new benchmark in graphite exploration
October 24, 2024Buxton Resources (ASX:BUX) has set a new benchmark in the Australian graphite space with its latest drilling results at the Graphite Bull Project in Western Australia.
As battery-grade graphite demand soars globally, Buxton has demonstrated that quality—and quantity—matter.
The recent drill program yielded a standout intersection of 124 metres at 16.6% Total Graphitic Carbon (TGC), establishing a new standard for the project and surpassing previous records.
Expanding Horizons: A Game-Changer for Graphite Bull
Buxton’s high-grade discovery isn’t just about the numbers; it signals a broader trend in graphite exploration where scale and quality will determine who thrives in the battery metals boom.
The recent results come from drilling outside the current resource boundaries, which currently stand at 4 million tonnes inferred at 16.2% TGC.
This expansion potential is crucial as the global appetite for lithium-ion battery materials accelerates.
Martin Moloney, CEO of Buxton Resources, captured the significance of the recent findings: “These thick intersections, the excellent continuity of mineralisation, and our improving geological model provide us with great confidence as we work toward a Mineral Resource update and PFS for Graphite Bull.”
Key Takeaways:
- New Standard: The 124 metres at 16.6% TGC represents the highest-grade and longest intersection ever recorded at Graphite Bull, setting a new standard and eclipsing the previous best result of 127 metres at 13.4% TGC achieved in 2014.
- Strategic Positioning: Located in a Tier 1 mining jurisdiction in Western Australia, Graphite Bull’s strategic position aligns with the global push to diversify critical mineral supply chains away from China. Buxton’s emphasis on quality ore with strong electrochemical properties underscores its potential in the anode material market.
- Potential for Significant Growth: Drilling has confirmed high-grade mineralisation over 240 metres beyond the existing resource, suggesting a considerable increase in the resource estimate due in December 2024. This puts Buxton in a prime position to scale up production to meet future demand.
A New Chapter in Graphite Exploration
With these results, Buxton is stepping into a pivotal role at a time when the world’s demand for high-quality, battery-grade graphite is expected to skyrocket.
Benchmark Mineral Intelligence predicts that global graphite production needs to multiply eightfold by 2040 to meet lithium-ion battery demand.
Buxton’s recent progress places it at the vanguard of this movement, with high-grade intersections that are hard to ignore.
Buxton’s recent findings also dovetail with ongoing qualification testwork involving major anode manufacturers, reflecting the company’s long-term commitment to becoming a cornerstone supplier in the battery materials supply chain.
Moloney summed it up best: “We’re now looking to cement Buxton’s position in the anode material supply chain.”
Beyond the Numbers: Buxton’s Unique Approach
In a sector often driven by hype, Buxton’s Graphite Bull Project stands out for its focus on robust geological foundations.
The upcoming Mineral Resource update, combined with the project’s impressive continuity of mineralisation, suggests the potential for a significant increase in scale—a prospect that may prove transformative for Buxton’s standing in the graphite sector.
The stakes are high, but if Buxton’s results continue to deliver, the company might just redefine what quality means in the Australian graphite industry.
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