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BUX - Buxton Resources

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Assay results returned from first diamond drill hole at the Dogleg Prospect:
Click to expand...
 
bit of a writeup from Livewire Markets
.
There has to be some sympathy out there for Buxton (BUX). Along with its bigger name partner IGO, the explorer has notched up one of the best nickel finds of recent times at the Dogleg prospect in the West Kimberley region.

It is the one where interesting looking intersections were announced early last month. The assays are now in for the first hole and they impressed – 13.34m true width grading 4.35% nickel, 0.34% copper and a handy 0.15% cobalt from 177.34m.

A 5.6m massive sulphide zone from 179.08m returned an impressive 7.47% nickel, 0.31% copper and 0.25% cobalt.

Normally there would be celebration in the share price of a company of Buxton’s size (21.5c for a market cap of $37m).

But base metals aren’t exactly flavour of the month at the moment so the celebrations have been put on hold pending confirmation the joint venture is in fact on to what could be the next magmatic-style Nova-Bollinger, or Voisey’s Bay.

As for Nova-Bollinger owner IGO, the assays from Dogleg were never going to move the dial given it is a $7 billion lithium-nickel-copper producer. But like Buxton, things will be dialled up in a big way for IGO should its regional play in the West Kimberley deliver another Nova-Bollinger...
 
Graphite Bull is 100% owned by Buxton. It is the company's principal asset as other projects are being bought into mainly by IGO so the percentage interest is far lower. A further progress report is expected very soon.
 
The Assay TV is joined by Martin Moloney, CEO of Buxton Resources (ASX: BUX), a company focused on the discovery and development of metalliferous ore deposits including nickel, copper, gold, iron, and graphite. Buxton is focused on its 100% owned Graphite Bull Project, Western Australia, with the objective to develop Australia’s highest quality graphite project. The project offers a clear opportunity for resource expansion at a shallow depth, and metallurgical studies are currently underway. Martin highlights that the Graphite Bull Project can provide 10-100kg samples of natural graphite concentrate for downstream anode test work. Additionally, Buxton’s joint venture partner IGO Limited (ASX: IGO) has intersected massive sulphide mineralization at the Dogleg Prospect. Diamond drilling has been completed and downhole electromagnetics are scheduled to be completed soon.
 
This is very good grade for a porphyry. Unusual there's no gold in it. No indication of scale that I can see.


 
Yesterday's announcement on the Copper Wolf Project: Wolverine prospectivity enhanced (BUX 100%) took the share price to close at 13c up 22% from the low point recently. My view is that Buxton is a reasonable gamble on coming good considering its tie-up with IGO on several projects.
May 1, 2024 - Copper Wolf Project: Wolverine prospectivity enhanced (BUX 100%)

BUX News, Analysis, Announcements & Results | Buxton Resources Limited | AFR

The latest Buxton Resources Limited [BUX] news, articles, data and analysis from The Australian Financial Review
www.afr.com
 
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23rd May 2024
Centurion Project (100% BUX) – Exploration Update
Buxton’s 100% owned Centurion Project proximate to WA1 Resources West
Arunta Project readies for exploration activity
• Geophysical surveys identify an Olympic Dam-style IOCG anomaly for testing

The Centurion Project consists of a single EL covering ~80 km2 located in the Great Sandy Desert
between Kiwirrkurra and Balgo. The EL covers a prominent dipolar and offset magnetic and gravity
anomaly pattern which is characteristic of Iron Oxide Copper Gold (IOCG) deposits such as Olympic
Dam and Prominent Hill.
 
Well, there you go. Buxton has fallen back close to the start after a 170% rise. A cash raising at 8.5c but the shares stayed steady despite this as IGO remains on board increasing their holding to close to 20%.
 
Buxton Resources CEO Martin Moloney joins Stewart Walters to talk about deep diamond drilling and its potential to turn Graphite Bull into a multi-decade operation.

MarketOpen on LinkedIn: #naturalgraphite #exploration #lithiumion #gascoyne

Buxton Resources CEO Martin Moloney joins Stewart Walters to talk deep diamond drilling and its potential to turn Graphite Bull into a multi-decade operation.…
www.linkedin.com

Or available at:
It's been a long trek of ups and downs for the Buxton share price - 8c to 27c and then 27c to 7.5c. A share if you like joy rides.
This could be a fantastic success but for those of us who understand the grading of Graphite it can go so wrong. So if you like a jolly punt - fortune to nothing, it holds out its hands for your cash. I'm going for it you say - oh erm jolly dee or melancholy.
 
A Podcast from Spotify which gives an explanation of what Buxton Resources is about. They hope they have a Bollinger maybe maybe not. You may remember Sirius Resources' Nova and Bollinger find back in 2012 one of Australia's great drilling successes. I wont comment further as it's your call.
Good weekend listening.
 

Buxton Resources on LinkedIn: #graphite #bux #shareholdervalue

CEO Martin Moloney on our Graphite Bull Project's Drilling Update #Graphite #BUX #ShareholderValue
www.linkedin.com
July 19, 2024, Drilling Update: https://www.listcorp.com/asx/bux/bu...ite-bull-project-drilling-update-3057447.html
The above should turn out very well for Buxton. It is necessary to send graphite for further testing in Germany so nothing will be certain for some time. On other projects, the company is in partnership with IGO which can hardly be seen as one of equals. Some uncertainties in this respect have, or probably have, crashed the share price of Buxton to only about one-third or fairly recent highs.
 
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