Buxton Resources (ASX: BUX) has joined the throng of companies looking to add to their cash holdings by entering a trading halt pending the release of details of a capital raising.
The halt will last until an announcement is made or until Wednesday 13th March 2013.
Of interest, Buxton completed a HeliVTEM survey in November 2012. The survey has shown at least 14 interpreted bedrock conductors, of which 7 have been defined as priority 1 targets for immediate follow up exploration.
Significantly, the survey was flown at 150 metres line spacing by a helicopter-borne VTEMmax system across the western two thirds of the Widowmaker tenement.
This area is directly along strike from Sirius Resources’ (ASX:SIR) Nova Ni-Cu discovery, appears to contain the same/similar mafic-ultramafic rocks as Nova. Further exploration will be necessary.
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