Buxton Resources (ASX:BUX) has been granted a trading halt by the Australian Stock Exchange pending a resource upgrade from the company's Yalbra Project.
Yalba currently hosts 2.21 million tonnes at 20.1% total graphitic carbon (TGC).
The company finished a combined 2476 metre reverse circulation and diamond drilling program at the project in July.
Very wide and high grade intercepts included: 127 metres at 13.4% TGC (down-hole length).
Buxton will also commence a Scoping Study at the project on completion of a metallurgical test-work program
The company had $2.3 million in cash at the end of September 2014. This excludes a share purchase plan to raise up to a further $1 million.
The halt will remain in place until the opening of trade on Monday 27th October 2014, or earlier if an announcement is made to the market.
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