84.6m of mineralisation intersected at Graphite Bull Project
Released
Released
Announcement PDF
ASX Release
25th July 2024
Graphite Bull Project – GB006DD intersects 84.60 m of
graphite mineralisation including 50.35 m within a 52.2 m
Main Zone 240 m down-dip from the 2014 resource
•
84.6 m of mineralisation intersected: GB006DD intersected 84.60 m of
graphitic mineralisation including 50.35 m within a 52.2 m Main Zone from
481.00 m downhole and multiple smaller intervals corresponding to
mineralisation mapped at surface.
•
2 x depth extent: The Main Zone intersection is ~240 m down-dip from the
existing 2014 Resource, doubling the depth extent of drill confirmed
mineralisation. Mineralisation remains open at depth.
•
EM model again successfully predicts mineralisation at depth: This intersect is
within the target envelope defined by EM modelling, providing a massive
boost for drill planning and Resource modelling confidence. To date no false
conductors have been drilled.
•
Drilling continues along strike: Diamond drillhole GB007DD has now
commenced 600 m East along strike. Mineralisation remains open along strike.
Figure 1: Graphitic pelitic schist from GB006DD ~523.70 m (visually estimated >10% TGC)
Buxton Resources Ltd (‘Buxton’; ASX:BUX) is pleased to announce that GB006DD
has intersected a 52.20 m thick zone containing 50.35 m of visually estimated
graphitic mineralisation at the 100% owned Graphite Bull project in Western
Australia (Figure 1, 2, & 3 & Table 1).
Figure 2: Completed GB006DD drill trace visual graphite estimate log.
intersections (>10% TGC cutoff) from 2023 RC drilling are labelled.
Significant assayed
Buxton’s CEO Marty Moloney said; “We’ve found what we’re looking for in the place
we expected and 240 metres below the existing Resource which itself is 240 metres
deep on this section. This indicates the Main Zone at Graphite Bull is large,
structurally simple and highly predictable - all positive characteristics for project
economics. We've just started GB007DD which will again test the system at depth
some 600 m to the East."
This new intersection is 240 m directly down dip from the base of the 2014 Resource
(4 Mt @ 16.2% Total Graphitic Carbon (TGC) - ASX 24/10/2014). It is also within the
target envelope defined by EM modelling and has been assigned to the "Main Zone"
and interpreted to correlate with the mineralisation zones modelled for the 2014
Resource (Figure 3).
Within GB006DD's 52.20 m Main Zone intersect, 22.56 m have visually estimated
grades of >10% TGC (Table 1, Table 2).
EM has proven highly effective in targeting the Main Zone, with a 100% success rate
from the six holes drilled since undertaking high-powered moving and fixed loop EM
surveys in early 2023 (ASX 07/02/2023).
This Main Zone mineralisation in GB006DD is also interpreted to correlate with the
lower significant intersection in GB001RC, which returned 20 metres @ 18.3% TGC
from 170 metres downhole (ASX 19/04/2023).
GB006DD was completed at 641.00 m depth and the rig has been shifted some 600
metres East to commence GB007DD which will test the down-dip extensions of
mineralisation intersected in GB003RC & GB004RC (Figure 2). Sampling of the Main
Zone core has been expedited and laboratory results are expected later this quarter.
Buxton has commenced detailed structural mapping, and preparations for an
extensive program of RC drilling are ongoing.
Buxton looks forward to providing regular updates to shareholders on this exciting
West Australian natural graphite project.
---ooo--This announcement is authorised by the Board of Buxton Resources Ltd. For further
information, please contact:
Martin Moloney
Sam Wright
Chief Executive Officer
Company Secretary
marty@buxtonresources.com.au
sam@buxtonresources.com.au
Table 1: GB006DD - HQ core intervals with visual estimates of Total Graphitic Carbon (TGC).
Intervening intervals (not listed) are estimated to contain negligible TGC. Main Zone estimates
discussed are highlighted, with sub-intervals > 10% TGC and 5m continuous thickness in bold. True
thickness is estaimted to be 85%-95% of drilled thickness.
Hole ID
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
GB006DD
From (m)
121.00
121.55
269.49
279.15
295.52
311.80
314.22
322.80
383.22
400.80
401.20
443.26
450.95
461.80
467.90
481.00
494.60
495.20
495.55
495.85
496.60
497.25
497.70
500.75
501.80
503.25
503.75
503.95
510.46
510.95
512.25
512.50
513.90
516.10
524.55
530.20
To (m)
121.55
125.69
270.62
282.55
297.20
314.22
316.56
324.55
384.32
401.20
409.50
446.70
453.05
462.20
469.00
494.60
495.20
495.55
495.70
496.35
496.85
497.45
499.95
501.80
503.25
503.75
503.95
510.46
510.95
512.25
512.50
513.90
516.10
524.55
530.20
532.05
Total
Interval (m)
0.55
4.14
1.13
3.40
1.68
2.42
2.34
1.75
1.10
0.40
8.30
3.44
2.10
0.40
1.10
13.6
0.60
0.35
0.15
0.50
0.25
0.20
2.25
1.05
1.45
0.50
0.20
6.51
0.49
1.30
0.25
1.40
2.20
8.45
5.65
1.85
84.60
Visual TGC Estimate
5-10%
>10%
5-10%
>10%
5-10%
>10%
5-10%
>10%
5-10%
>10%
0-5%
>10%
>10%
>10%
>10%
0-5%
>10%
0-5%
>10%
>10%
>10%
>10%
>10%
5-10%
0-5%
>10%
0-5%
>10%
0-5%
>10%
0-5%
5-10%
5-10%
>10%
0-5%
>10%
Min. Zone
HW1
HW1
HW2
HW2
HW2
HW2
HW2
HW2
Not classified
HW3
HW3
HW4
HW4
HW4
HW4
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Main
Lithology
Ap
Ap
Ap
Ap
Ap
Ap
B
Ap
Ap
Ap
Ap
Ap
Ap
Ap
Ap
B
Ap
B
Ap
Ap
Ap
Ap
Ap
B
B
Ap
B
Ap
Ap
Ap
Ap
Ap
Ap
Ap
Ap
Ap
Lithology Codes: Ap = pelitic schist, B = banded quartz-feldspar-biotite gneiss
Cautionary Statement: Visual estimates of mineral abundance should never be considered a proxy or
substitute for laboratory analyses where concentrations or grades are the factor of principal economic
interest. Visual estimates also potentially provide no information regarding impurities or deleterious
physical properties relevant to valuations.
Table 2: GB006DD - Visual estimates collated by Mineralisation Zone & Grade - Main Zone in
highlights
Mineralisation Zone
by Visually Estimated Grade
HW1 (269.49 m - 324.55 m)
5-10%
>10%
HW2 (269.49 m - 324.55 m)
5-10%
>10%
HW3 (400.80 m - 409.50 m)
0-5%
>10%
HW4 (443.26 m - 469.00 m)
>10%
Main (481.00 m - 533.20 m)
0-5%
5-10%
>10%
Not classified
5-10%
>10%
Grand Total
Sum of Visually
Estimated Intervals (m)
4.69
0.55
4.14
12.72
5.15
7.57
8.70
8.30
0.40
7.04
7.04
50.35
23.14
4.65
22.56
5.79
1.65
4.14
84.60
Cautionary Statement: Visual estimates of
mineral abundance should never be
considered a proxy or substitute for
laboratory analyses where concentrations
or grades are the factor of principal
economic interest. Visual estimates also
potentially provide no information
regarding impurities or deleterious
physical properties relevant to valuations.
Table 3: Collar location details for GB006DD & GB007DD
Hole ID
GB006DD
GB007DD
Easting (m)
435135
435713
Northing (m)
7172486
7172612
RL (m)
385.9
381.9
Azimuth (grid)
337.56
335
Incl.
-66.58
-60
Total Depth (m)
641.00
650-750
(planned)
Figure 3: Cross section through diamond hole GB006DD (now complete) showing and down hole
intervals with visual total graphitic carbon estimates per Table 1. The block model at > 7% TGC from
the 2014 Resource is shown in purple. The Main Zone intersected in GB006DD is approximately 240
m below the existing Resource, which is a maximum of ~240 m deep on this section. In addition to
the down-dip extensions to the existing Resource defined by the Main Zone intersect, the various
hanging wall zones intersected in GB006DD provide further opportunities for Resource expansion as
discussed in ASX 19/07/2024).
Competent Persons
The information in this report that relates to Exploration Results is based on information compiled by
Mr Martin Moloney, Member of the Australian Institute of Geoscientists and Society of Economic
Geologist. Mr Moloney is a full-time employee of Buxton Resources Ltd. Mr Moloney has sufficient
experience which is relevant to the activity being undertaken to qualify as a “Competent Person” as
defined in the 2012 edition of the Joint Ore Reserves Committee (JORC) Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Moloney consents to the
inclusion in this report of the matters based on the information in the form and context in which it
appears.
Previously Reported Information
There is information in this announcement relating to exploration results previously announced on:
1.
2.
3.
4.
5.
6.
7.
24th October 2014 – Buxton significantly expands Graphite Resource at Yalbra
7th February 2023 – Graphite Bull Exploration Update (Ground EM results)
19th April 2023 – Graphite Bull Drilling Assays
23rd October 2023 – Outstanding shallow conductors identified at Graphite Bull
29th April 2024 – Graphite Bull Heritage Clearances Received
9th July 2024 - Drilling Program Commences at Graphite Bull Project
19th July 2024 - Graphite Bull Project - Drilling Update
Validity of Referenced Results
Buxton confirms that it is not aware of any new information or data that materially affects the
information from previous ASX announcements which has been referenced in this announcement.
About the Graphite Bull Project
The at-surface, high-grade Graphite Bull (formerly Yalbra) Project is in the Tier 1 mining jurisdiction of
Western Australia, Gascoyne region, on granted Exploration License E09/1985. Graphite Bull was
acquired by Buxton in 2012 and by 2014 an airborne EM survey, several drilling programs and two
resource estimates were completed. The Graphite Bull project currently has a JORC (2012) compliant
Inferred Resource of 4 Mt @ 16.2 % TGC (ASX 24/10/2014).
Due to projected growth of the global Lithium-ion battery market, and the essential part graphite will
play in that – graphite is the single largest component of Li-ion batteries – Buxton recommenced work
at Graphite Bull in 2022. Work since then has been focused on metallurgical test work through to final
product (Activated Anode Material), and increasing Resource confidence and size, with very promising
results to date.
Forecast battery-related demand (Benchmark Mineral Intelligence) means that by 2027, global
graphite production needs to double and that, by 2040, eight times current production will be
required to supply the world’s lithium-ion battery anode market. Non-China battery anode capacity,
and investment, is being spurred by US IRA legislation. Graphite Bull is therefore a very attractive
project, being a high-grade deposit located in a Tier 1, US FTA mining jurisdiction, with ore materials
having demonstrated excellent electrochemical performance and with outstanding Resource growth
potential.
Figure 4: Buxton’s Graphite Bull Project is located 750 km north of Perth, and 500 km from the port
of Geraldton.
About the current diamond drilling program at Graphite Bull
The ongoing diamond drilling program aims to test the mineral system at depth where 2023 EM
surveying (ASX 07/02/2023) and scout RC drilling (ASX 19/04/2023) indicates there is a significant
opportunity to expand the current Resource. The first of the two holes is just completed
(GB006DD) has tested a position approximately 300 metres below of the existing drilling, 240m
below the existing Inferred Resource, and 300 metres down plunge from the outstanding intercept
in GB001RC (33m @ 18.7% TGC from 11m, 20m @ 18.3% TGC from 170m).
The second hole, just commenced (GB007DD) is planned to test a similar depth and around 600 m
to the East from GB006DD and down plunge from 2023 RC holes GB003RC (18m @ 16.2% TGC
from 145m) and GB004RC 5m @ 24.8% TGC from 20m, 5m @ 19.7% TGC from 34m & 32m @ 17.7%
TGC from 49m.
The program also provides a platform to establish operations and earthworks ahead of the major
program of RC + diamond resource extension and infill drilling which is scheduled to follow these
initial deep diamond holes.
Cautionary Note Regarding Forward-Looking Information
This Announcement contains forward-looking statements and forward-looking information within the
meaning of applicable Australian securities laws, which are based on expectations, estimates and
projections as of the date of publication. This forward-looking information includes, or may be based
upon, without limitation, estimates, forecasts and statements as to management’s expectations with
respect to, among other things, the timing required to execute the Company’s programs, and the
length of time required to obtain permits, certifications and approvals.
Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, "should", "intend",
“may” and similar expressions have been used to identify such forward-looking information. Forwardlooking information is based on the opinions and estimates of management at the date the
information is given, and on information available to management at such time. Forward-looking
information involves significant risks, uncertainties, assumptions, and other factors that could cause
actual results, performance or achievements to differ materially from the results discussed or implied
in the forward-looking information. These factors, including, but not limited to, fluctuations in
currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient
capital on favourable terms or at all, changes in national and local government legislation, taxation,
controls, regulations, political or economic developments in Australia or other countries in which the
Company does business or may carry on business in the future, operational or technical difficulties in
connection with exploration or development activities, employee relations, the speculative nature of
mineral exploration and development, obtaining necessary licenses and permits, contests over title
to properties, especially title to undeveloped properties, the inherent risks involved in the exploration
and development of mineral properties, the uncertainties involved in interpreting drill results and
other geological data, environmental hazards, industrial accidents, limitations of insurance coverage
and the possibility of project cost overruns or unanticipated costs and expenses, and should be
considered carefully.
Many of these uncertainties and contingencies can affect the Company’s actual results and could
cause actual results to differ materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, the Company. Prospective investors should not place undue
reliance on any forward-looking information. Although the forward-looking information contained on
in this Announcement is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure prospective purchasers that actual results will
be consistent with such forward-looking information, as there may be other factors that cause results
not to be as anticipated, estimated or intended, and neither the Company nor any other person
assumes responsibility for the accuracy and completeness of any such forward-looking information.
The Company does not undertake, and assumes no obligation, to update or revise any such forwardlooking statements or forward-looking information contained herein to reflect new events or
circumstances, except as may be required by law. No stock exchange, regulation services provider,
securities commission or other regulatory authority has approved or disapproved the information
contained in this Announcement.
JORC Table: Section 1 – Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (eg cut channels, random
chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as down-hole gamma sondes, or
handheld XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
Aspects of the determination of mineralisation that are
Material to the Public Report. In cases where ‘industry
standard’ work has been done this would be relatively
simple (e.g. ‘reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other cases,
more explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (e.g.
submarine nodules) may warrant disclosure of detailed
information.
Drill type (e.g., core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc) and
details (e.g. core diameter, triple or standard tube, depth
of diamond tails, face-sampling bit or other type, whether
core is oriented and if so, by what method, etc).
Diamond drilling produced HQ diameter core (63.5mm
diameter). All core runs are oriented using an Axis
Mining Technology Champ Ori tool.
Method of recording and assessing core and chip sample
recoveries and results assessed.
Measures taken to maximise sample recovery and ensure
representative nature of the samples.
Sample recovery for core loss is recorded by the drillers
with any core loss intervals noted on annotated wooden
blocks inserted into the core boxes by the driller. Core
loss averages 99.5% for the hole. No significant core loss
is recorded in the reported mineralised intervals.
Drilling techniques
Drill sample recovery
Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse material.
Analyses will be undertaken by ALS Geochemistry,
samples received 278/02/23, in Wangara and include
Total Graphitic Carbon and Total Carbon.
Drill hole GB006DD was drilled by Topdrill PL using a
Sandvik DE880 trick mounted drill rig.
Rod counts are routinely carried out and marked on the
core blocks by the drillers to ensure the marked core
block depths are accurate.
Full assessment of recovery will be undertaken when the
core is transported to BUX’s core processing facility in
Perth, with QA/QC of the recovery to be assessed by
reconstructing the core into continuous runs in an angle
iron cradle.
No apparent relationship is seen between sample
recovery and grade.
Logging
Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies
and metallurgical studies.
Whether logging is qualitative or quantitative in nature.
Core (or costean, channel, etc) photography.
The total length and percentage of the relevant
intersections logged.
Logging of the diamond drill hole was conducted at the
Project site by qualified geologists with sufficient
knowledge of the deposit style and the geological
terrane the drilling was completed in.
Logging of the hole is ongoing with lithology, mineralogy
and mineralisation being recorded digitally.
Logging completed can be considered qualitative in
nature.
Once the core is transported to BUX’s core processing
facility in Perth, further qualitative logging of the entire
hole will be undertaken recording weathering, colour,
and other features of the samples.
In addition to the qualitative logging, once the hole has
been transferred to BUX’s core processing facility in
Broome the core will be logged in a quantitative manner
in terms of structure and geotechnical parameters.
Photographs of all DD trays will be taken at BUX’s core
processing facility at the Project, and in Perth and
retained on file with the original core trays stored at
BUX’s core library in Peth.
Logging to date can be considered sufficient to report
the intersection of low grade (trace-5% TGC), moderate
(5-10%) and high-grade (>10% TGC) graphite
mineralisation based on visually estimates and with
reference to previous drillhole samples and results.
Sub-sampling
techniques and
sample preparation
If core, whether cut or sawn and whether quarter, half or
all core taken.
If non-core, whether riffled, tube sampled, rotary split,
etc and whether sampled wet or dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling
stages to maximise representivity of samples.
Measures taken to ensure that the sampling is
representative of the in-situ material collected, including
for instance results for field duplicate/second-half
sampling.
Logging to be completed at BUX’s core processing facility
in Perth will be adequate to support downstream
exploration studies and follow-up drilling.
Following core processing at BUX’s core processing
facility in Perth, the mineralised intervals will be
subsampled into quarter and/or half-core using a wetdiamond-blade core saw and submitted to ALS Limited Perth.
All samples to be submitted for assay will be selected
from the same side of the core, with exceptions only
being for duplicate samples of selected intervals, where
quarter-core subsamples will be cut from the half-core.
Whether sample sizes are appropriate to the grain size of
the material being sampled.
Quality of assay data
and laboratory tests
Verification of
sampling and
assaying
The nature, quality and appropriateness of the assaying
and laboratory procedures used and whether the
technique is considered partial or total.
Not applicable, the release does not include laboratory
assay results.
For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining the
analysis including instrument make and model, reading
times, calibrations factors applied and their derivation,
etc.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory checks)
and whether acceptable levels of accuracy (ie lack of bias)
and precision have been established.
Not applicable, the release does not include data from
geophysical or handheld XRF tools.
The verification of significant intersections by either
independent or alternative company personnel.
Senior company geological personnel onsite for the
entirety of the drilling and logging process.
In addition to duplicate samples (detailed above),
Quality Control and Quality Assurance (QA/QC)
procedures included insertion of standards (three
different standards each certified for TGC at three
different abundance levels appropriate for the Graphite
Bull mineralisation) and blanks which were inserted
every 20 samples.
Once the core is processed at BUX’s core processing
facility in Perth. The logging will be validated by a BUX
on-site geologist and compiled onto the BUX MX Deposit
drill hole database
Assay data will be imported directly from digital assay
files from contract analytical company ALS (Perth) and
merged in the Company MX Deposit drill hole database.
Data is backed up regularly in off-site secure servers.
The use of twinned holes.
Location of data
points
Documentation of primary data, data entry procedures,
data verification, data storage (physical and electronic)
protocols.
Logging and sampling were recorded directly into a
digital database.
Discuss any adjustment to assay data.
Not applicable, the release does not include laboratory
assay results.
The surface hole collar location was surveyed using a
handheld Garmin GPS unit with an expected accuracy of
±6m for easting and northing with elevation also
recorded.
Accuracy and quality of surveys used to locate drill holes
(collar and down-hole surveys), trenches, mine workings
and other locations used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
Data spacing and
distribution
Data spacing for reporting of Exploration Results.
Orientation of data in
relation to geological
structure
Whether the orientation of sampling achieves unbiased
sampling of possible structures and the extent to which
this is known, considering the deposit type.
If the relationship between the drilling orientation and
the orientation of key mineralised structures is considered
to have introduced a sampling bias, this should be
assessed and reported if material.
The measures taken to ensure sample security.
Sample security
No new geophysical results are used in exploration
results reported.
No historic holes were twinned as part of this program.
Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity
appropriate for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Drill path gyroscopic surveys were at 0m and at
subsequent 30m downhole intervals to final hole depth
using an Axis Gyro tool.
All surface surveying was completed using a handheld
GPS to MGA94 / Zone 50 South grid system.
Topographic control was provided by a Digital Elevation
Model (DEM) derived from the 2024 Drone survey which
provided a DEM with a 0.05cm resolution and +/- 0.5m
vertical accuracy.
See drill tables for drill hole location.
This spacing and distribution is considered not suitable
for mineral resource estimations at the present time as
the program was designed to test the relationship
between EM conductors and graphite mineralisation
along at depth from the known resource. The results
from this drill hole may be utilised in future mineral
resource estimations at the discretion of the relevant
Competent Person.
The orientation of the drilling is not expected to
introduce sampling bias. All drill holes have intersected
the mineralisation at a sufficient angle to the strike and
dip of the mineralised units.
The chain-of-sample custody is managed by the BUX
staff from collection at the rig to the submission of the
samples to ALS Limited – Perth for analysis.
Samples are being stored at the drillsite before being
transported and processed at BUX’s core processing
facility in Perth.
To date no samples have been sent to ALS Limited –
Perth for analysis.
The diamond drill core will be wet cut using a diamond
blade and sampled at BUX’s core processing facility in
Perth by BUX staff and contractors.
Diamond drill core samples will be placed in prenumbered calico bags and further secured in green
plastic sample bags with cable ties. The samples are
further secured in a bulk bag and delivered to the ALS Perth by contractor freight service.
Sample reconciliation advice is sent by ALS-Perth to
BUX’s Geological Database Administrator on receipt of
the samples.
Any inconsistences between the despatch paperwork
and samples received is resolved with BUX before
sample preparation commences.
Sample preparation and analysis is completed at one of
the ALS laboratories in Perth.
Audits or reviews
The results of any audits or reviews of sampling
techniques and data.
The risk of deliberate or accidental loss or contamination
of samples is considered very low.
Sampling procedures are identical to those followed by
Buxton in 2013/14 which have previously been reviewed
and found to be adequate by an independent resource
geologist.
JORC Table: Section 2 – Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and
land tenure status
Type, reference name/number, location and ownership
including agreements or material issues with third parties
such as joint ventures, partnerships, overriding royalties,
native title interests, historical sites, wilderness or
national park and environmental settings.
BUX have a 100% interest in exploration license
E09/1985.
Exploration done by
other parties
Geology
The security of the tenure held at the time of reporting
along with any known impediments to obtaining a licence
to operate in the area.
Acknowledgment and appraisal of exploration by other
parties.
Deposit type, geological setting and style of
mineralisation.
A 0.75% Gross Revenue Royalty was granted under a
Tenement Sale Agreement dated 31 March 2016,
between
Montezuma
Mining
Company
Ltd
(“Montezuma”) and Buxton Resources Limited. This
royalty is currently held by Electric Royalties Ltd
(TSXV:ELEC & OTCQB:ELECF).
The tenement is in good standing with DMIRS and there
are no known impediments for exploration on this
tenement.
Numerous exploration parties have held portions of the
area covered by BUX tenure previously. The only
substantive historical exploration for graphite was
undertaken by CEC in 1974 – see WAMEX report A6556.
No other parties were involved in the exploration
program that generated data that was used in this
release.
The Graphite Bull Project area lies within the Errabiddy
Shear Zone, situated at the contact between the
Glenburgh Terrane of the Gascoyne Province and the
Narryer Terrane of the Yilgarn Carton, on the
southwestern margin of the Capricorn Orogen.
The known graphitic mineralisation occurs as lenses in
graphitic paragneiss assigned to the Quartpot Pelite. This
unit has been interpreted to have been deposited
between 2000 Ma and 1985 Ma in a fore-arc setting to
the Dalgaringa continental margin arc (part of the
Glenburgh Terrain), and subsequently deformed
between 1965–1950 Ma during the Glenburgh Orogeny
within the Errabiddy Shear Zone which represents the
suture between the colliding Pilbara–Glenburgh and
Yilgarn Cratons.
All units at Graphite Bull show evidence for
metamorphism in the amphibolite to granulite facies,
with the production of voluminous leucosomes and
leucogranites within the pelitic lithologies
Drill hole Information
A summary of all information material to the
understanding of the exploration results including a
tabulation of the following information for all Material
drill holes:
o easting and northing of the drill hole collar
See the body of the r
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