Buxton Resources (ASX: BUX) has intersected mineralisation in an ongoing 100% drilling programme at Graphite Bull project in WA, with drilling aiming to support a substantial Mineral Resource Estimate in Q4 2024.
Diamond drilling (DD) was completed 8th August with a total of 1,221.5 metres of HQ diamond core drilled across two holes.
An initial batch of 57 samples from a ~52 metre length of diamond core (GB006DD 491.00 – 541.96 metres) is currently at ALS laboratories and has completed sample preparation. Total Graphitic Carbon (TGC) results are expected within two weeks.
Reverse Circulation (RC) drilling has progressed smoothly, with 3,534 metres drilled across 24 holes averaging 146 metres depth, at 246 metres per day. Most holes have been drilled across 1,080 metres of geological strike East of the existing Resource area. Several new RC holes within the existing Resource aim to provide support for conversion to JORC Indicated classification.
The RC drilling has intersected graphite mineralisation > 5% visually estimated TGC within 832 metres, or 24% of the metres drilled. Results include 68 metres at >10% visually estimated TGC from 43 metres in GB012RC.
The company says these new results are highly encouraging given that the 2011-2012 programmes, which were drilled to the South,
achieved an equivalent rate of 25% (1050.7 metres >5% TGC assayed across 4,149.7 metres of drilling). The current programme is drilled mostly North with the aim of intersecting ore zones at an angle closer to true width. This result is interpreted to reflect generally thicker true widths of mineralisation in the East compared to the Resource area.
The first batch of RC samples is expected to be delivered to ALS laboratories in Perth on 26th August, results expected within 1-2 months. Full assays to support mineral resource estimate are expected to take 2-3 months to complete.
A substantively increased Mineral Resource Estimate is now targeted based on results from the 2023 & 2024 drill programs (>5,000m RC) supported by improved confidence in geological continuity provided by results from diamond drilling and recent structural mapping. Drilling activities will be finalised over the coming days.
In addition to the ongoing drilling programs at Graphite Bull, Buxton has recently dispatched a 1.5 kg parcel of graphite flake concentrate to BTR New Material Group, to commence qualification testwork. The concentrate was prepared by at ALS Metallurgy to a >95% TGC specification.
The Topdrill RC rig will move to the Narryer Project over the weekend to test the 800 m x 150 m Ranger EM target. This program will consist of 1-2 holes, with capacity for further drilling if warranted.
