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Buxton Resources Complete Soil Sampling Program at Narryer Project

23 August 2023 10:25
ASX: BUX

Buxton Resources (ASX:BUX) has successfully concluded a soil sampling program covering 400 soil samples across various tenements at its wholly-owned Narryer Project in Western Australia.

Soil Sampling

Covering a span of 19 kilometres across 27 lines, the sampling endeavour specifically targeted airborne EM and radiometric anomalies within tenements E09/2427, E09/2428, and E09/2429.

Anticipating prompt results, Buxton foresees receiving the preliminary findings from the comprehensive sampling effort within an estimated 8-week period.

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Figure 1: Magnetic image demonstrating the location of the soil sample lines targeting AEM and REE anomalies

Narryer Project Potential

Occupying a significant position within the Archean Yilgarn Craton margin, the Narryer Project is an area that has garnered attention due to the recent discovery of the Julimar Ni-Cu-PGE Project by Chalice Mining Ltd. This region, known as the West Yilgarn Ni-Cu-PGE Province, boasts a >1,000km strike length containing numerous Ni-Cu-PGE occurrences, fuelling robust exploration efforts.

As Buxton secures its position with E09/2722, encompassing 1,918 km2 across four granted ELs, it taps into the highly prospective Yilgarn Western Margin, including the Proterozoic Badgeradda Basin.

This region stands out not only for its Ni-Cu-PGE prospectivity but also for its REE potential, emerging as a focal point for REE projects like Yangibana, Mangaroon, Mick Well, and Innouendy, with Mount Weld as Australia’s sole REE operation in production nearby.

Precursive Samples

Findings from AEM surveys conducted in October 2022 revealed numerous anomalies aligning with possible Nickel-Copper-PGE mineralisation.

The field reconnaissance delivered unexpected yet ‘outstanding’ indications of the Project’s Rare Earth Element (REE) potential, with rockchip sampling undertaken at the Prodigy Prospect returning promising results of 0.45 per cent Total Rare Earth Oxides (TREO).

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Figure 2: Precursive testing competed at Narryer Project tenements carried out in October 2022.

The groundwork set by past work initiatives has paved the way for the current soil sampling campaign, utilising proprietary AEM data and open-file radiometric datasets.

Buxton is optimistic that the forthcoming results, expected in two months time, will align with the preliminary sampling undertaken in the region.

BUX’s Australian Stock Exchange-listed share price is currently trading at $0.135 (10:15am UTC+ 8 hours).

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