Copper, Discovery, News

Buxton strikes “globally significant” mineral system

Visual observations from Buxton Resources’ second diamond drillhole at Copper Wolf in Arizona indicate the presence of a globally significant copper–molybdenum mineral system.

Buxton announced 626.88m of porphyry Cu–Mo sulphide observed in a second drillhole at Copper Wolf, which the company described as a highly encouraging result.

The first drillhole at the site reached a depth of 611.67m, intersecting 81.93m of basement rocks with mineralisation throughout.

“The intersection of significant thicknesses of continuous alteration, veining and mineralisation in the second drillhole establishes Copper Wolf as a porphyry copper-molybdenum project of global relevance,” Buxton chief executive officer Marty Moloney said.

“Our second drillhole shows that historical drilling has barely scratched the surface. It’s time to wake the giant which has been lying low at Copper Wolf for the last 74 million years.”

The drilling penetrated the cover sequence at 527.61m and immediately intersected visual copper and molybdenum mineralisation.

The hole was terminated in mineralised rocks at 1174.40m for a total of 646.79m of basement diamond drilling.

The scale and continuity of mineralisation intersected in the second drillhole provide strong evidence of a large porphyry copper–molybdenum mineral system within the project area.

A key implication of Buxton’s observations is that high-grade zones are potentially preserved at depth and along strike.

Buxton reported that the drilling program has greatly improved the company’s confidence the Copper Wolf project has potential to host economic mineralisation with sufficient grades and thicknesses for modern underground bulk mining methods to be feasible.

Buxton and joint venture partner IGO, who fund the operation, said the companies are continuing to generate high quality data and interpretations from the first drilling program in 30 years on the site to optimise follow-up geophysical and drilling programs.

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