Buxton Resources (ASX:BUX) has completed a soil sampling program at its wholly owned Narryer Project in Western Australia.
The $23.12 million market capitalisation company says the soil sampling targeted priority airborne electromagnetic (EM) and radiometric anomalies across tenements E09/2427, E09/2428, and E09/2429.
A total of 19km of sampling was undertaken over 27 lines comprising 400 soil samples.
Buxton says the results of initial laboratory analysis are anticipated within 8 weeks.
The company used data from an airborne electromagnetic (AEM) survey flown across the area in 2022 and from field reconnaissance earlier in 2023 to help provide the basis for targeting the soil sampling program.
According to Buxton, the AEM survey identified multiple anomalies consistent with the potential for nickel-copper-platinum group elements (PGE) mineralisation, and the fieldwork at the Prodigy prospect returned ‘highly anomalous’ rare earth element (REE) levels in outcrop.
The Narryer Project is located in the Gascoyne region of Western Australia and has the potential for regolith-hosted rare earths within both proterozoic and archean successions.
Buxton Resources is an ASX-listed exploration company focused on the discovery of nickel, copper, gold, iron, and graphite. As of 30 June 2023, the company had $4.145 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Buxton Resources
