Buxton Drives Exploration Forward to Finalize Graphite Bull Resource Estimate

Buxton Resources (ASX:BUX) is actively drilling at its Graphite Bull and Narryer projects in Western Australia, aiming to produce a significant resource estimate by the end of this year. The company is working towards an enhanced resource estimate for the Graphite Bull project, leveraging results from its 2023 and 2024 drilling programs. These efforts are bolstered by increased geological confidence from recent diamond drilling and structural mapping, which have improved the understanding of the area's geological continuity. Buxton Resources, which has a market capitalization of $14.16 million, expects to complete the current drilling operations in the coming days.

In addition to the drilling at Graphite Bull, Buxton Resources has recently sent a 1.5kg sample of graphite flake concentrate to BTR New Material Group for qualification testwork. This concentrate, prepared by ALS Metallurgy, meets a specification of over 95% total graphitic carbon. This step is crucial for assessing the quality and potential applications of the graphite material.

Furthermore, a reverse circulation drill rig is scheduled to move to the Narryer Project over the weekend. Drilling at this site will focus on the 800m by 150m Ranger electromagnetic target. The drilling program is planned to include one or two initial holes, with the possibility of additional drilling depending on the results obtained.

The Graphite Bull Project is situated 250km northwest of Meekatharra, covering an area of 22km². This project is part of Buxton’s strategic focus on advancing resource exploration and development in Western Australia. Meanwhile, the Narryer Project is located along the Western Yilgarn Craton margin, a region known for its mineral potential.

Buxton Resources is dedicated to the acquisition, exploration, and evaluation of mining tenements throughout Australia. The company's primary interests include nickel, copper, gold, iron, and graphite deposits. As Buxton continues its drilling activities and testwork, it aims to enhance its resource base and provide valuable insights into the potential of its projects.

Buxton Resources has developed and is continuously enhancing procedures to uphold and foster a culture of strong corporate governance throughout the organization. The Company has established a written policy to ensure adherence to ASX Listing Rules and other regulatory disclosure requirements. Furthermore, Buxton Resources has implemented a policy to guarantee that the procedures for executing this policy are both suitable and effective. The Board affirms that, to date, no issues have arisen that would suggest its current practices and procedures are inadequate for the organization, considering its size and maturity.