Buxton Resources encounters high-grade nickel sulphide at Double Magic project
Junior explorer Buxton Resources (ASX: BUX) has encountered “significant massive sulphide mineralisation” during a drilling campaign over the Conductor J target within its wholly-owned Double Magic nickel-copper-cobalt project in Western Australia.
Results taken from hole DMDD0015 at the Merlin prospect have intersected high-grade brecciated sulphides assaying nickel grades as high as 7.1%, located within a broad interval of mineralised sequence.
The hole is the first to be drilled in Buxton’s campaign and is a 40 metre step-out from hole DMDD0014 which also intersected high-grade primary brecciated sulphide and returned 7.1% nickel grades in May.
Buxton said three separate zones have been recorded within DMDD0015, encompassed by a broader mineralised sequence containing abundant visible coarse grained pentlandite crystals associated with pyrrhotite and chalcopyrite.
The Conductor J target is believed to host high-grade matrix and brecciated massive nickel-copper sulphides and is one of several high-priority open conductors to be followed up during the current campaign.
Drilling will also test extensions to known mineralisation at Merlin, potential electromagnetic “blind spots” and key gravity features.
Completed drill holes will be followed up with downhole electromagnetics to identify additional conductive features and mineralised zones.
Walk up drill targets
The shallow Double Magic project, across 93 square kilometres in WA’s East Kimberley region, was acquired by Buxton in 2015 and has been reported to contain at least three existing “walk up” drill targets which were either untested or only partially tested by historic drilling.
Reinterpretation of geological and geophysical datasets at the time of acquisition showed two separate “eye-like” features in the deposit, due to the presence of nickel host lithology known as the Ruins Dolerite.
Sills of the Ruins Dolerite host the known nickel-copper sulphide mineralisation.
Buxton believes significant further zones of Ruins Dolerite and numerous untested conductors occur within the project area, adding “substantial regional exploration potential” to the Double Magic project.
At midday, shares in Buxton Resources were up 24% to $0.205.