Buxton Resources (ASX:BUX) says the latest rock chip results returned from the Sun Devil and Aztec prospects confirm that there are several exploration opportunities in the area.
Chief Executive Officer (CEO) Marty Moloney says: “This result confirms there are numerous, outcropping, undrilled exploration opportunities emerging at Copper Wolf and yet we’ve barely begun work.”
A rock chip sampling program was completed over the Sun Devil and Aztec areas, with results returning highly anomalous copper and molybdenum assays, with up to 3.08% Cu, 156 parts per million Mo, and 9.34ppm silver.
Buxton CEO says that the company is continuing to conduct ‘high-value’ and low-cost generative work that is delivering discoveries.
The $21.65 million market capitalisation company has also begun a detailed drone magnetic survey across the north-eastern portion of the Copper Wolf project, around the Wolverine and Yellow Jacket prospects and potential extensions.
Buxton will be using these results to target ‘major’ fault intersections which are interpreted to localise the mineralising porphyries at Copper Wolf. Results are anticipated to be available by early April 2024.
The Sun Devil and Aztec prospects lie 7km west-southwest from the Wolverine prospect. The Copper Wolf project lies in Arizona, US.
Buxton Resources is a diversified mineral explorer with assets across Australia and the US. The company’s assets are considered prospective for nickel, copper, gold, iron, and graphite.
As of 31 December 2023, the company had $1.6 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Buxton Resources
