Buxton Resources claims confirmation of new nickel province
THE DRILL SERGEANT: Buxton Resources (ASX: BUX) has received final assay results for two diamond core holes it sampled as part of a Phase 2 drill program at the company’s Double Magic nickel-copper project in the West Kimberley region of Western Australia.
Drillhole intercepts of greater than three per cent nickel have been returned from three separate targets (B, C, and D) with results of up to 8.14 per cent nickel in diamond drill core.
The company said the drilling had indicated the high-grade mineralisation at Conductor D remains open along strike and down plunge.
Follow-up drilling targeting extensions to the mineralisation is planned.
According to Buxton the drilling has confirmed the Double Magic project to be hosting better than economic nickel-copper grades and thicknesses.
Since entering the region just five months ago, Buxton now claims to be the first explorer to detect high-grade magmatic sulphides in the Ruins Dolerite, confirming the genetic model, exploration vectors, and potential of the project area to host nickel-copper deposits of note.
The company said that all geophysical targets (conductors) it has drill tested to date have proven to be related to nickel-copper sulphide mineralisation, with no false conductors identified.
It has also identified a number of new VTEM conductors further to the east (Fireant prospect and elsewhere) where no previous exploration has been undertaken.
“Buxton can certainly be pleased with, and proud of, the significant advancements the small team has made at the Double Magic project in the past five months,” Buxton Resources CEO Eamon Hannon said in the company’s announcement to the Australian Securities Exchange.
“Over this short period of time, the company has proven for the first time the existence of thick and high grade nickel and copper mineralisation within the Ruins Dolerite.
“Buxton has the first mover advantage in what we now consider exceptionally prospective ground, in one of the world’s best jurisdictions for exploration.
“The company has immediate follow up drilling targets at Conductors B, C and D and in addition numerous high priority new targets in previously unexplored areas.” “The Buxton team is greatly buoyed with these results and we are counting down the days until returning to Double Magic for Phase 3 exploration targeting significant nickelcopper accumulations, once weather and access permits.”
Email: info@buxtonresources.com.au
Website: www.buxtonresources.com.au