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Buxton’s Metallurgical Success and Drill Results Drive Graphite Project Expansion

17 May 2023 11:21
ASX: BUX
Graphite Bull Export 2

Buxton Resources continues to showcase Graphite Bull’s potential as one of Australia’s premier graphite projects, with recent metallurgical testwork delivering a graphite concentrate grading 96.7% Total Graphitic Carbon from the second bulk sample of Graphite Bull’s product, reinforcing its status as a high-quality graphite project.

Top Marks

Testwork was able to hit a recovery rate of 92.1% for the sample, showing a higher recovery rate than the first bulk sample and providing further concentrations for the additional downstream testwork.

While the drill-core tested was similar to bulk sample #1 in both head grade and down-hole depth, the two samples differ in rock type and grain sizes, with the excellent results from this second bulk sample de-risking the impact of variability with the deposit.

Processing of an additional 80 kg of bulk #2 is set to kick off within the coming days, with Buxton expecting to dispatch over 10kg of concentrate to European specialty minerals producer Dorfner Anzaplan for downstream testwork scheduled later in August.

The commencement of this downstream testwork will coincide with the completion of testwork for the >95 per cent TGC flake concentrate produced from bulk #1 which is currently being undertaken in Germany by graphite industry expert Prograhite GmbH, with Buxton expecting results for micronising, sermonising and purification in July and electrochemical testwork by the end of August.

Building the Bull

Building on the repeated success of Graphite Bull’s testwork and recent drilling campaigns, Buxton is embarking on an extensive 5,000-metre drill program for the Project. This program is scheduled to be completed within the next two months.

The campaign will focus on extending the Project’s inferred 4 Mt @ 16.2% TGC resource and build on a number of drilling campaigns that have indicated the potential for significant resource upsides. Notably, a recent campaign unveiled a new zone of graphite mineralisation, exhibiting grades of up to 24.8% TGC.

BUX’s Australian Stock Exchange-listed share price has risen 3.12 per cent today, currently selling at 16.5c (11:18 am UTC+ 8 hours).

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