Yalbra Project

The Yalbra Graphite Project is located 250km North West of Meekatharra and 280km East of Carnarvon, Western Australia, and covers an area of 37km2. Buxton has recently expended its strategic ground holdings via agreements to acquire the Coordewandy and Gum Creek Graphite Projects along strike from Yalbra “main zone” target. Upon granting of these licences, Buxton’s total tenement package will cover an area of 437km2.

The Yalbra Graphite Project is a high grade Graphite project, that has a significant preliminary global Exploration Target of 8-12 Million Tonnes @ 7 - 11% C* which was delivered by Buxton’s geological team. The exploration target was based on historical percussion drilling results and comprises six separate zones where graphite mineralisation was intersected in historical drilling. Coarse flake Graphite was encountered in previous drilling and metallurgical testwork.

At Yalbra, Buxton Resources recently confirmed substantial widespread high grade graphite at surface through a rock-chip sampling program, building on the encouraging results from an Airborne VTEM survey that identified strong graphite conductors over a 6km strike length. The majority of known mineralised zones remain open at depth and along strike. These results are driving the generation of high quality drill targets with a program planned to commence shortly.

During November 2013, the Company completed a 15 hole RC drilling program for 1,689 metres at Yalbra. Drilling and petrographic results have far exceeded the Company's expectations. Very high-grade graphite occurs within multiple zones over 500m strike length and is open at depth and along strike including;

  YBRC001   32m @ 23.4% TGC inc. 7m @ 32.6% TGC

  YBRC002   14m @ 22.3% TGC inc. 6m @ 26.8% TGC

  YBRC011   14m @ 21.5% TGC inc. 5m @ 33.0% TGC

  YBRC012   31m @ 22.9% TGC inc. 5m @ 30.2% TGC

  YBRC015   31m @ 22.5% TGC inc. 6m @ 33.0% TGC

Buxton believes these to be the highest grade graphite drill intercepts reported in Australia.

 

A significant portion of graphite in petrographic samples was shown to have medium to coarse flakes.

 

In February 2014, Buxton announced a maiden very high grade inferred graphite resource estimate for Yalbra to JORC Code reporting standards:

2.27 million tonnes @20.1% TGC

Buxton believes this to be the highest reported grade graphite resource in Australia.

 

In May 2014, Buxton commenced a ~1,750m combined RC and diamond drilling program at Yalbra. Program objectives include:

  • Resource expansion
  • Upgrade existing resource to facilitate scoping study
  • Diamond drilling for metallurgical testing

The program is expected to take approximately 3 - 4 weeks to complete and results will be reported as soon as they become available.

 

With the recently strengthened strategic land position and positive exploration results, the project continues to represent an exciting opportunity for the company to delineate a substantial potential resource and gain exposure to the buoyant graphite market with current prices and future demand outlook for the market remaining positive.

 

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Project Background and Historical Results

Historical field observations indicated that the Graphite occurs both in disseminated and veinlet styles. Coarse flake Graphite was identified in both drilling logs and in a rudimentary metallurgical test of near-surface mineralisation. However, from the historical information available it is not currently possible to estimate what percentage of the graphite mineralisation would fall into the coarse flake category.