Buxton Resources (ASX:BUX) is conducting drilling at its Graphite Bull and Narryer projects in Western Australia, with the aim to deliver a substantial resource estimate in the fourth quarter of this year.
An increased resource estimate for Graphite Bull is targeted based on results from the 2023 and 2024 drilling programs, supported by improved confidence in geological continuity provided by results from diamond drilling and recent structural mapping.
Buxton Resources, which has a market capitalisation of $14.16 million, says drilling is expected to be finalised over the coming days.
In addition to the ongoing drilling at Graphite Bull, the company has recently dispatched a 1.5kg parcel of graphite flake concentrate to BTR New Material Group, to begin qualification testwork.
The concentrate was prepared by ALS Metallurgy to a more than 95% total graphitic carbon specification.
Further, a reverse circulation drill rig will be moving to the Narryer Project over the weekend. Drilling will be testing the 800m by 150m Ranger electromagnetic target.
The program will consist of one or two holes, with capacity for further drilling if warranted.
The Graphite Bull Project lies 250km northwest of Meekatharra in Western Australia and covers a 22km2 area. Meanwhile, the Narryer Project forms part of the Western Yilgarn Craton margin.
Buxton Resources is focused on engaging in acquisitions, exploration, and evaluation of mining tenements in Australia. The company is particularly interested in nickel, copper, gold, iron, and graphite deposits.
Write to Aaliyah Rogan at Mining.com.au
Images: Buxton Resources
