FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Buxton Build a Graphite Battery Bull

19 April 2023 13:18
ASX: BUX

Buxton Resources continue to build Graphite Bull’s potential to be Australia’s top graphite supplier with recent drill assays returning thick graphite intersections over considerable widths at grades up to 24.8% TGC.

The 991-metre drilling program comprised five widely spaced scouting holes targeting a number of conductive plates up to 10,3000 Siemens uncovered by an electromagnetic survey completed in February, with newly returned assays delivering on both grade and thickness.

Intersections include:

o GB001RC 33m @ 18.7% TGC
o GB003RC 18m @ 16.2% TGC
o GB004RC 32m @ 17.7% TGC and 5m @ 24.8% TGC
o GB005RC 5m @ 24.5% TGC

Alongside delivering further thick high-grade intersections, the Company has now confirmed a minimum of 2 kilometres of high-grade thick graphite mineralisation, with hole GB001RC uncovering a new near-surface graphitic zone with continuity to the other intersections.

null

(Cross Section detailing hole GB001RC and the newly identified graphite zone)

Mineralisation remains open, providing the Company with the opportunity to extend mineralisation even further and showing that the Projects existing JORC 4 Mt @ 16.2% TGC still has room to grow as the explorer looks to develop the Project into a major player in Australia’s graphite market as demand for graphite-intensive renewables technology continues to build.

The extension of mineralisation is just another feather in Graphite Bull’s cap, with metallurgical test work at the Project producing >95% TGC concentrate at recoveries up to 93.7%, with the generation of a bulk concentrate sample currently underway.

The Company said it has now appointed industry-leading environmental consultants Ecologia to undertake a baseline biological survey to support environment metal assessments and approvals.

BUX’s Australian Stock Exchange-listed share price has risen 14.705 per cent today, currently selling at 19.5c (1:16 pm UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This