West Kimberley NI – Cu
Merlin
The Merlin Project is located 100km east of Derby in the Kimberley Region of Western Australia and covers an area of 28km2. In 2015 Buxton discovered significant Ni-Cu sulphide mineralisation at Merlin.
Over the course of the next few field seasons, Buxton’s pioneering exploration has defined an entirely new nickel-copper exploration province within the Palaeoproterozoic Ruins Dolerite unit in the King Leopold Orogen.
At Merlin, multiple intersections of primary orthomagmatic Ni-Cu sulphide have been intersected in diamond drilling. Highlights include hole DMDD0015 into Conductor J which assayed 40m at 1% Nieq, including an interval of 6m at 3.01% Ni.
Another highlight was drill hole DMDD0018 into conductor H which assayed at 6m at 2.02% Ni.
Figure one below: Plan of Merlin prospect with drill collar locations and intercepts from our 2019 drill program.
A number of untested downhole EM conductors indicate that the system remains open at depth and along strike. These conductors, along with our detailed structural framework provide targets for future drilling, including within the Conductor C interpreted hinge zone, proximal to the local gravity high feature.
Merlin is a very high metal tenor system (average 8% Ni tenor) with individual assays up to 8.14% Nickel, 5.26% Copper and 0.69% Cobalt indicating the presence of an extensive high-grade orthomagmatic Ni-Cu system.
Buxton has entered into several binding agreements with nickel producer IGO Limited (ASX:IGO) to dramatically advance and accelerate the exploration of the Merlin Project and the greater West Kimberley tenement position. At Merlin, IGO can earn in and ultimately achieve a 80% JV interest by spending AUD $5,000,000 over a four year period. Buxton will then be free carried to completion of Feasibility. For more information, see here.
IGO completed deep diamond drilling and EM exploration program at Merlin during the 2020 field season, see here. The 2021 program will include rehabilitation and deposit modelling and resource estimation.
Figure 2 right: photographs of magmatic nickel-copper sulphides intersected in Buxton’s 2018 drilling programme.
West Kimberley Ni- Cu
Quick Shears
The Quick Shears Project is located on tenements contiguous Merlin Project where Buxton discovered an orthomagmatic Ni-Cu sulphide system in 2015. The Quick Shears Project includes the north-western continuation of the geological sequence that hosts the Merlin mineralisation (the Ruins Dolerite) so it is considered highly prospective for additional nickel-copper sulphide mineralisation. Buxton entered into an agreement to acquire an 80% interest in the key licenses E04/1972 and E04/2314 from New World Cobalt (ASX:BUX 6th November 2018).
It didn’t take long before Buxton made another exciting discovery: fresh outcropping nickel-copper sulphides (Figure 1 & 2, ASX:BUX 28th May 2019).
The Quick Shears discovery increased the footprint of the Merlin mineralised system to over 7 kilometres (Figure 2). A large gravity high feature in the regional gravity is interpreted as a large package of intrusive mafic-ultramafic rocks (Figure 2), potentially being part of the Ruins Dolerite suite. Additional mapping and rock chip sampling, aircore drilling and low temperature SQUID ground EM was conducted in 2019.
The Quick Shears Project is currently managed by IGO Limited under a farm in agreement whereby, having paid AU$1,275,000 to BUX in March 2020, IGO has an 80% of BUX’s 80% interest in these licenses (leaving BUX with a 16% trailing iterest). Additionally, 3 further $500,000 deferred cash payments are to be made on the satisfaction of relevent milestones (significant drilling results and declaration of JORC compliant resourses). For more information, see here.
During the 2020 field season, IGO has conducted additional ground EM and drilled 5 diamond holes for 3762.6 metres.
Figure 1: Quick Shears Project tenements highlighing the Buxton’s discovery of outcropping magmatic nickel copper sulphides
Figure 2: A sample from the Quick Shears Project discovery outcrop
West Kimberley ni – cu
Regional
The recently formed regional joint venture between Buxton Resources and Independence Group NL will allow for significantly increased Ni-Cu sulphide exploration activity in the underexplored King Leopold Orogen. A highly experienced team has been established and work has commenced. Aerial geophysics, geological mapping and surface geochemistry is currently planned for the 2019 field season.
Independence Group NL (ASX:IGO) is currently managing exploration whilst earning into the West Kimberley Project, with Buxton being free carried until completion of a Feasibility Study (refer to ASX: BUX announcement 29 November 2018 for further information).
