Yalbra Project (BUX)

 

The Yalbra Graphite Project is located 250km North West of Meekatharra and 280km East of Carnarvon, Western Australia, and covers an area of 22km2.

 

Since grant the licence has been systematically explored for graphite mineralisation. Buxton has undertaken mapping, a heli-VTEM survey, several rounds of drilling, petrology, two resource estimates and metallurgy test work.

 

During November 2013, the Company completed a 15 hole RC drilling program for 1,674m at Yalbra. Drilling and petrographic results 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:

 

2.27Mt @ 20.1% TGC

 

In July 2014, Buxton completed a combined RC and Diamond drilling program of 17 holes for 2476m Yalbra.

 

An updated JORC compliant Mineral Resource Estimate was calculated for the main zone of graphite mineralisation located within the boundaries of E09/1985. The Mineral Resource is in the inferred category at:

 

4.0Mt @ 16.2% TGC, using a 4% TGC cut-off

 

 

Metallurgical testing results show a significant portion of the graphite exists as medium to coarse flakes within high-grade microbands. Observations show that graphite flakes generally range from 100 to 500 microns long and in some cases reach over 1mm in length. Fine-grained graphite also occurs but is mainly confined to lower grade micro-bands. The typical crystal size therefore in the high-grade micro-bands is well above the commercial definition for coarse flake graphite, which is >150 microns in length. 

 

 

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.