Buxton Reports Historic Graphite Intersection Discovery

Buxton Resources has reached a notable milestone in its exploration efforts at the Graphite Bull project in Western Australia, revealing a record intersection of 124 meters with 16.6% total graphitic carbon (TGC), beginning from a depth of 44 meters. Additionally, the project has produced another promising intersection of 56 meters at 14.4% TGC, starting just eight meters below the surface.

These recent drilling results are derived from seven of the 29 drill holes completed at Graphite Bull, uncovering new intersections outside the current mineral resource, which is estimated to be four million tonnes inferred at 16.2% TGC. The latest findings confirm high-grade graphite mineralization across an impressive 240-meter strike length, extending beyond the existing resource area.

Buxton anticipates receiving assay results from the remaining 22 drill holes by mid-November, paving the way for a mineral resource update expected in December. CEO Marty Moloney expressed his excitement regarding the outcomes, stating, “These thick intersections, the excellent continuity of mineralization, and our improving geological model give us great confidence as we prepare for a mineral resource update and pre-feasibility study for Graphite Bull.”

The company is actively engaging with major anode manufacturers to conduct qualification testwork, further solidifying Buxton’s position within the expanding anode material supply chain. The Graphite Bull project, initiated in 2022 in Western Australia’s Gascoyne region, aligns strategically with the increasing demand for graphite, which is essential for producing anodes in lithium-ion batteries.

The importance of graphite in the global energy transition cannot be overstated, particularly as industries and governments pivot towards renewable energy solutions. In 2019, the Australian Federal Government introduced the Critical Minerals List, highlighting graphite's vital role in modern technology. Although Australia currently lacks active graphite mines, it ranks eighth globally in graphite resources, as noted in the report “Australia’s Identified Mineral Resources 2023,” indicating a significant potential that remains untapped.

Buxton's discoveries at Graphite Bull not only enhance the project's viability but also align with the company's strategy to establish itself as a key player in the critical minerals sector. The rising interest in sustainable energy solutions and electric vehicle production underscores graphite’s essential role for the future. With continued exploration and development, Buxton aims to contribute significantly to the supply of this crucial resource, supporting both local and global energy needs while maintaining a commitment to sustainable practices. As the demand for graphite grows, Buxton is well-positioned to capitalize on emerging opportunities within this vital market.