Buxton Resources (ASX: $BUX) Heritage Clearances for Graphite Bull Project

Buxton Resources Ltd (Buxton; ASX: $BUX) has announced the receipt of clearances from recent Aboriginal Heritage surveying at its 100% owned Graphite Bull Project, enabling the recommencement of drilling in Q2 CY24. The project currently holds a JORC (2012) compliant Inferred Resource of 4 Mt @ 16.2 % TGC, and the new clearances will facilitate infill drilling, testing depth extensions, and following-up new hanging wall zones as encountered in the 2023 scout RC drilling program.

Executive Commentary on Heritage Clearances

Buxton's CEO Marty Moloney expressed his satisfaction, stating, 'This is a fantastic outcome which provides clearances to support a resource upgrade and pre-feasibility study. We are looking forward to seeing rigs turning again at Graphite Bull. I'd like also to gratefully acknowledge the Burringurrah heritage custodians who undertook this work.'

Summary of Heritage Clearances and Future Outlook

The heritage clearances for the Graphite Bull Project mark a significant milestone for Buxton Resources, allowing the company to progress with a resource upgrade and pre-feasibility study. The project's strategic location in Western Australia, combined with the increasing demand for graphite in the global Lithium-ion battery market, positions Graphite Bull as an attractive venture with substantial growth potential. Buxton's plans for additional follow-up heritage surveys and the projected surge in global graphite production demand indicate a positive outlook for the company's future endeavors.