Buxton Resources (ASX:BUX) will enter substantially higher after emerging from a trading halt to show off a truly goliath graphite intercept of 127 metres at 13.4% TGC from 23 metres, including 7 metres at 23.8% TGC from Yalbra in Western Australia.
Notably, the intersect remains open, and looks to be increasing with grade at depth, with the last metre assaying 28.9% TGC.
Other results included 15 metres at 18.3% TGC from 40 metres including 4 metres at 25.6% TGC, 34 metres at 15.1% TGC from 112 metres with 5 meters at 20.4% TGC, and 23 metres at 16.5% TGC from 16 metres with 4 metres at 24% TGC.
These are just results from the first 4 holes - results from a further 13 holes are pending.
The new results significantly extend graphite mineralisation along strike to the west, and results to date bode well for the upcoming resource upgrade expected during the current quarter.
Latest results build on the last batch of drilling results from Yalbra which included 32 metres at 23.4% TGC, 31 metres at 22.9% TGC, and 31 metres at 22.5% TGC.
Capitalised at just $18 million, Buxton may be in for a market re-rating.
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