Buxton Resources (ASX:BUX) has begun a maiden diamond drilling (DD) program at its wholly owned Copper Wolf Project in Arizona, US.
The company reports the drilling represents the first drill exploration in the project since 1993 and is being solely funded by IGO (ASX:IGO) as part of a pre-earn-in option.
Buxton notes drilling of hole CW0001DD has already begun and has been designed to target an area proximal to and beneath historical hole RC-UC-17, which ended in porphyry style copper-molybdenum mineralisation.
Drilling has also been designed to test the hanging wall of the Bobcat Cluster Fault
Drilling has also been designed to test the hanging wall of the Bobcat Cluster Fault, which is thought to have ‘strongly’ influenced the emplacement of the Copper Wolf Laramide porphyry mineral system.
The company says drilling is planned to continue at least 320m deeper than RC-UC-17 to an initial target depth of 1,100m, and is expected to be completed within a minimum of 4 weeks. Buxton also notes it has the capacity to extend the hole if favourable geology and mineralisation is intersected.
With drilling now underway, Buxton Resources announces it will update shareholders as the program progresses.
The Copper Wolf Project is located within one of the most ‘prolifically endowed’ copper belts in the world, however has not seen any drilling since the 1990s. The project also hosts a number of historical resource estimates that confirm the presence of a large laramide porphyry copper-molybdenum system.
Buxton Resources is an ASX-listed company focused on the discovery and development of metalliferous ore deposits, including nickel, copper, gold, iron, and granite.
Images: Buxton Resources Limited
