Buxton Resources Ltd (ASX:BUX) Reports High-Grade Graphite Intersections
Key Operational Achievements
Buxton Resources Ltd (ASX:BUX) has announced standout results from its recent drilling program at the Graphite Bull Project. The assays reveal high-grade intersections, including GB011RC, with 50 metres at 24.9% Total Graphitic Carbon (TGC) from 38 metres and GB009RC, featuring 10 metres at 37.3% TGC from 12 metres, with a peak of 6 metres at 47.3% TGC.
Geological modelling is currently underway, and the company anticipates a new resource estimate to be released by late January or early February 2025. Additionally, results from qualification test work with BTR are expected in early February.
Future Outlook and Strategies
The drilling campaign targeted a strike length of approximately 1,500 metres, indicating open mineralisation at depth. Buxton Resources believes certain zones may support resource classification, offering potential for economic extraction through open-pit methods. The forthcoming resource upgrade is a crucial short-term objective for the company.
CEO, Marty Moloney, stated, “Incredibly high grades and an investment-friendly location are two of Graphite Bull’s defining qualities. We’re now finalising inputs to the resource upgrade, which is a key short-term priority. These results, along with qualification feedback from BTR, will then guide Buxton’s strategy at Graphite Bull.”
About Graphite Bull Project
The Graphite Bull Project, located in Western Australia, has established a JORC-compliant inferred resource of 4 million tonnes at 16.2% TGC. The project is strategically positioned to address the increasing demand for lithium-ion battery materials, particularly as global capacity for anode materials is projected to expand significantly by 2030.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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