Buxton Resources’ (ASX: BUX) shares are in pre-open after it was granted a trading halt pending the release of exploration results from its Yalbra Graphite Project in Western Australia.
The halt will last until the earlier of the announcement being made or the start of trade on Tuesday, 14 January 2014.
The company had in November 2013 completed a 15 hole reverse circulation drilling program at the project, which is located 250k kilometres northwest of Meekatharra and 280 kilometres east of Carnarvon.
Drilling within the Main Zone intersected substantial widths of graphite mineralisation visually consistent with historical results. A new area of graphite mineralisation was also discovered at the Northern Zone by drilling a significant VTEM conductor.
Notably, the company has received investment interest in the project from several overseas parties.
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