Buxton Resources (ASX: BUX) should trade higher today after commencing a maiden 3,000 metre reverse circulation campaign at its Zanthus nickel-copper project in Western Australia's Fraser Range.
The program will test up to 20 electromagnetic conductors, some with nearby calcrete geochemical anomalies, defined in the recent ground EM survey.
Zanthus is located 60 kilometres along strike from Sirius Resources’ (ASX: SIR) Nova nickel copper sulphide discovery, and covers 367 square kilometres.
Interestingly, Zanthus also hosts an inferred magnetite resource at the Cohen Deposit of 103.6 million tonnes at 26.5% iron, with an exploration target of 700 million to 1.3 billion tonnes.
Buxton also controls the Yalbra Graphite Project, also in Western Australia, and is capitalised at $13 million.
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