Buxton soars on Double Magic find
The West Australian
August 10, 2015, 9:15 am
Buxton soars on Double Magic find
UPDATE 2.15pm: Shares in Buxton Resources soared after the explorer announced a shallow nickel discovery at its Double Magic project in the Kimberley east of Derby.
Buxton announced this morning that drilling had intersected eight metres of massive to matrix sulphide grading 3.05 per cent nickel and 1.87 per cent copper within a broader intersection of 14 metres at 2.04 per cent nickel and 1.36 per cent copper.
It said the discovery was just 47m downhole.
Buxton said it would continue drilling at Double Magic, with a further seven holes planned, to test the six remaining conductors.
“All drill holes completed during the program have been cased for downhole EM geophysics,” the company said.
“This downhole survey will assist with the detection of any additional off-hole EM conductors and better define the orientation of known conductive bodies.
“The geophysical field crew is due to arrive this week.”
Buxton shares were up 17.5 cents, or 147.83 per cent, to 28.5 cents at the close after touching an earlier peak of 32.5 cents.
https://au.news.yahoo.com/thewest/wa/a/29223221/buxton-soars-on-double-magic-find/
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