Buxton Resources (ASX:BUX) will undertake a drone magnetic survey in late February and early March 2024 at the Wolverine area, as part of its Copper Wolf Project in Arizona, US.
The $24.25 million market capitalisation company will continue geological mapping and rock chip sampling in the interim on the newly staked tenure around the Yellow Jacket area.
Permits for Wolverine are currently awaited.
Further exploration is being lined up after Buxton announced today (13 February 2024) it has uncovered porphyry drill targets at both the Sun Devil and Aztecs prospects at Copper Wolf.
The porphyry targets were flagged after a heli-supported field program and demonstrate ‘intense’ veining and potassic alteration at Sun Devil.
Up to 86 rock chips from the program have been submitted for geochemical analysis, with results expected mid-April.
Chief Executive Officer (CEO) Marty Moloney says: “The Sun Devil and Aztecs prospects provide windows into different levels of the Copper Wolf porphyry system which is otherwise covered in this area.
Decades of progress in understanding Arizonan geology and porphyry deposits worldwide is now enabling our systematic, boots-on-the-ground exploration to confidently define these targets at depth.
Integrating the information gathered in this field program, along with the historical data and rock chip assays, expected in mid-April, will inform future drill testing of these exciting targets.”
Meanwhile, the company notes it will move forward with a detailed review of drillcore unearthed by Lebon Gold in 2007.
The Copper Wolf Project sits within one of the most prolifically endowed copper belts in the world, yet has not seen drilling since early 1990s. The project has multiple historical resource estimates available that confirm the presence of a ‘large’ porphyry copper-molybdenum system.
Buxton Resources is a nickel, copper, gold, iron, and graphite explorer with projects in Australia and the US.
Write to Adam Drought at Mining.com.au
Images: Buxton Resources