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BUXTON RESOURCES LIMITED

ASX: BUX

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Buxton is listed on the ASX (October 2007). The goal of Buxton Resources is to create shareholder wealth through the discovery and development of world-class precious metal, base metal and iron deposits. The strategy is two-fold and runs in parallel, consisting of project evaluation and project acquisition.

The Company has three projects in southern Western Australia which it believes have the capability of delivering a world-class discovery. The key drivers for success will be rapid assessment using cost-effective innovative exploration techniques with accelerated funding directed to those projects which meet key decision points and exceed internal technical hurdles.

Buxton will also assess other mineral projects (and acquire where appropriate) those which have known mineralisation, strong technical merit and a real chance of delivering success.

Warda Warra Project

Following a strategic review of exploration results (airborne EM, soil samples, aircore drilling) the Farmin Agreement with AXG Mining Limited was terminated and all other tenements held by Buxton were surrendered.

Dempster Project

Buxton has complete two main phases of calcrete sampling which has identified large low-level gold anomalies. A web page update for this project is under construction and for progress report refer to the latest quarterly reports. The Project area is located 90 km north-northeast of Esperance and approximately 60 km west of the sealed Kalgoorlie-Esperance highway and rail line. It consists of three exploration licence applications covering 411.6 km2. The principle target is gold mineralisation associated with a northeast trending corridor of Paleoproterozoic rocks which are thrust north-westerly over the Archaean Yilgarn Craton. New discoveries by AngloGold Ashanti at Tropicana – Havana and Beachcomer located along strike and to the northeast indicate that this is an emerging new Australian gold province. There is no outcrop in the Project area, however wide spaced exploration drilling carried out in the past for lignite and base metals indicates that the depth to basement is consistently less than 20 m. Reconnaissance work by previous explorers in the Project area has located gold-in-calcrete and gold in bedrock.

* The gold-in-calcrete surface anomalies are not well defined as sampling was restricted to existing access tracks. Nonetheless, the surface anomalies are considered significant as many gold values exceed 2.5 ppb gold with a peak value of 14 ppb gold. The dimension of this gold anomaly is comparable in size and magnitude that led to the discovery of the Tropicana – Havana Prospect. Systematic grid-based sampling is planned to better define the gold target prior to drill testing.

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* The gold in bedrock anomaly was originally detected by BHP in aircore hole GPDH141. This hole was part of a fence line traverse to investigate the base metal potential of the district. Holes were vertical and spaced at 400m along the traverses. Mineralisation in GPDH141 occurred at the bottom of the hole associated with saprock after medium grained feldspar-quartz-biotite gneiss. The bottom of hole sample from the 20-21 m interval returned 0.687 g/t gold, 439 ppm copper with elevated silver, molybdenum, nickel and tin. This Paleoproterozoic gold intercept is considered highly significant and confirms the potential of the region.

Ellya Hill Project

As at October 2008, land access issues had stalled mineral exploration work. The Project occurs within the Murchison granite-greenstone Province of the Archaean Yilgarn Craton. It is located some 27 km east of Cue and is 350 km east-northeast of the port city of Geraldton. Several abandoned old gold mines occur in the district (not on the Company’s ground) including the Tuckabianna line of workings. Buxton Resources intends to aggressively evaluate the base metal potential of the Project area.

Kanandah Project

Buxton completed deep RC drilling on this project in October 2008. Results were not encouraging enough to continue this high cost exploration effort under thick cover and as a consequence the project was surrendered. The Kanandah Project is located 310 km east of Kalgoorlie on the margin of the Eucla Basin and covers a buried metamorphic complex considered prospective for Broken Hill type mineralisation.

Mine For

gold, nickel, copper, zinc, lead, iron ore

Location of operation(s)

Western Australia

Australian Basins

Eucla

Address

50 Derby Rd
SUBIACO, WA, AUSTRALIA

Phone

(61 8) 9380 6063

Email

Website


Last Updated

21/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.