Buxton Resources (ASX:BUX) has uncovered an extension of the deeper Copper Wolf Project’s porphyry copper-molybdenum system at surface via geological mapping at the newly defined Wolverine prospect.
The $26.85 million market capitalisation company reports the extensive copper-molybdenum system extends onto its wholly owned tenure at surface, with mapped features including elevated copper and molybdenum.
This had been confirmed in surface rock chips, with assays returning up to 14.1% copper and 1,160 parts per million (ppm) molybdenum.
Buxton Chief Executive Officer (CEO) Marty Moloney says this latest discovery at Wolverine is a ‘game-changer’ for the company, with mineralisation present at surface and tenure, which is not subject to any joint venture (JV) agreement.
“This discovery also highlights the incredible exploration potential at Copper Wolf where previous work 1960s-1990s has barely scratched the surface of what is shaping up to be a very large porphyry Cu-Mo system.
I’m looking forward to the next steps including confirmatory scout drilling once permits are in place.”
The company is currently progressing permitting for this next round of drilling which aims to confirm the potential for enriched and primary sulphide zones at depth, as well as support with planning and interpreting new geophysical surveys.
Buxton Resources is a diversified mineral explorer. The company focuses on the discovery and development of metalliferous ore deposits including nickel, copper, gold, iron, and graphite.
Write to Aaliyah Rogan at Mining.com.au
Images: Buxton Resources
