Buxton Resources has received assay results from the first diamond drillhole at its Dogleg prospect in the West Kimberley region of WA.
The results show a strong in-hole response, providing Buxton with additional focus outside the original moving-loop electromagnetic conductor.
According to Buxton, the result will trigger a $500,000 payment from its joint venture (JV) partner IGO, which will be added to the $2.35 million at the end of the September quarter.
“The Buxton and IGO technical teams are extremely excited to report high grade nickel and cobalt mineralisation in sulphides from the first diamond hole at the Dogleg prospect within our West Kimberley project JV,” Buxton Resources chief executive officer Marty Moloney said.
“This result, along with previous exploration success at the Merlin prospect, validates our view that the West Kimberley project has the potential to host Nova-Bollinger style nickel sulphide deposits.
“Such deposits are notoriously difficult to find but the success of the first two diamond holes at Dogleg, combined with highly anomalous down-hole EM responses, provide Buxton and our JV partner IGO with enormous encouragement.
“We look forward to reporting the assays from the second hole in this program and hope to build on this momentum with future drilling programs designed to fully reveal the emerging exploration potential at Dogleg.”
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