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Buxton Resources Ltd.
Summary
| Project: | Double Magic | |
|---|---|---|
| Deposit: | Merlin | |
| Location: | Australia | |
| Commodities: | Nickel-Copper | |
| Date: | 11/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-11-2017: Buxton Resources Ltd. announces an Exploration/Drilling Update report for its Merlin deposit at the Double Magic project. Drilling results incl. 14m @ 0.48% Zn, 0.16% Cu from 80m. Buxton Resources Limited (ASX: BUX) is pleased to report that al | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Mark Glassock, Eamon Hannon (Independent;Internal) | |
| ABSTRACT: | Buxton Resources Limited (ASX: BUX) is pleased to report that all assays for the 2017 drill program at Double Magic have been received. Several intersections have returned grades above 1% Ni. Of the 26 holes drilled, 25 intersected magmatic Ni-Cu sulphides confirming a much-increased extent of Ni-Cu sulphide mineralisation at Merlin. A very large, complex mineralised magmatic system, still open in all directions, continues to be discovered within the Ruins Dolerite. Fieldwork during 2017 has substantially expanded the known extent of continuous sulphide mineralisation along strike (~1,500m) and down-dip (>600m). A second possible conduit or feeder, with brecciated massive sulphide (DMDD0014) indicating high-energy emplacement, has now been located 450 metres south-east of the 2015 discovery at Conductor D. A possible high-grade trend has been identified within the broader magmatic Ni-Cu sulphide system (Figures 1-4), providing one obvious target for future drilling. Higher-grade mineralisation along this trend includes stringer or net-textured sulphides, massive sulphides, and/or brecciated massive sulphide. This trend appears open to the south and south-west as indicated by recent down-hole transient electromagnetic (DHTEM) results, which are supported by geological observations in up-dip holes. The presence of brecciated massive sulphides is particularly encouraging, indicating forceful injection or re-working of massive sulphides in a high-energy magmatic environment, something usually considered an essential part of the processes involved in forming large, high-grade magmatic sulphide deposits. This discovery of brecciated sulphides at Merlin is therefore a very strong confirmation of the genetic model, and consequent prospectivity, of the Merlin mineralised system as it demonstrates the system had the capability to segregate and deposit high-grade massive sulphides. | |
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