Buxton Resources (ASX:BUX) has increased the resource of the Graphite Bull Project in Western Australia by 345% to 20.7 million tonnes @ 10.8% total graphitic carbon for 2.25 million tonnes of contained graphite.
The larger resource is partly due to the definition of a maiden indicated resource that now accounts for 40% of the total resource and was achieved following recent metallurgical studies.
In the higher confidence indicated category, Graphite Bull’s resource totals 7.6 million tonnes @ 11.6% total graphitic carbon for 890,000 ounces of contained graphite.
CEO Marty Moloney says this outcome is the result of multiple phases of work conducted over the past two years.
“This updated mineral resource estimate improves the tonnage, thickness, strike extent, and geological confidence of the Graphite Bull Project, with numerous shallow drill targets remaining as exploration upside,” Moloney says.
Buxton adds that the grade and tonnage block model highlights the presence of several shallow, high-grade zones, plus a hanging wall zone which are each likely to enhance the flexibility of open pit operations.
As such, additional opportunities exist to expand the resource, particularly along strike at shallow depths where multiple electromagnetic conductors remain untested by modern drilling.
Further, historical exploration has confirmed the presence of graphite at several of these targets.
Meanwhile, downstream qualification testwork on Graphite Bull ore and flake is well underway at BTR’s in-house laboratories. This work includes flotation, spheroidisation, purification, and anode/cell manufacture.
BTR’s results, combined with internal economic assessment of the updated resource, will guide Buxton’s plans for further work at the project.
The Graphite Bull Project, covering 22km2, is located 250km northwest of Meekatharra in Western Australia.
Buxton Resources is focused on discovering and developing metalliferous ore deposits including nickel, copper, gold, iron, and graphite.
Write to Aaliyah Rogan at Mining.com.au
Images: Buxton Resources
