Buxton Resources clears path to start Royale copper-gold exploration
Buxton Resources granted first of three exploration licences covering its Royale porphyry copper-gold project
Project sits along the same cratonic margin that hosts several world-class mineral deposits
Airborne magnetic and magnetotelluric surveys along with geochemical sampling to start soon
Special Report: Buxton Resources has secured the first of three exploration licences covering its intriguing Royale copper-gold project in WA's Paterson region, paving the way for exploration to begin.
Royale is a belt-scale opportunity that covers 671km2 (once all licences are awarded) in the Paterson Orogen along the West Australian Craton margin, a region with proven mineral wealth.
It is close to Buxton Resources' (ASX:BUX) Shogun nickel project and is linked to key logistics hubs through existing tracks and infrastructure.
The company is targeting porphyry-style copper-gold mineralisation based on multiple lines of evidence including recognition of a cluster of geochemically distinctive, felsic, Mesoproterozoic intrusives that trend under transported cover to where a large, coincident gravity low and magnetic high underlies the project tenure.
This geophysical feature is interpreted to represent a preserved, fertile pluton which outlines an area of higher prospectivity for copper-gold and molybdenum deposits.
Geoscience Australia and the Geological Survey of Western Australia have also recognised porphyry potential based on evidence indicating a Mesoproterozoic subduction zone extending from the Musgrave Province through to the Royale area along the northern margin of the West Australian Craton.
Further evidence is found in multiple ages of felsic intrusive activity, anomalous copper and molybdenum in a 2017 Exploration Incentive Scheme co-funded drill hole RUD0003, and volcanic textures and weak deformation affecting lithology, veining and mineralisation in the same hole.
Additionally, weathering to ~100m depth in RUD0003 indicates excellent potential for supergene enrichment processes to improve mining economics.
'Buxton's 100%-owned Royale Project is located along the same cratonic margin that hosts several world-class mineral deposits,' chief executive officer Marty Moloney said.
'At Royale, our target generation has leveraged extensive geological and geophysical data to identify potential for a significant discovery of large-scale copper-gold mineralisation, so it's fantastic news that exploration will soon commence.' Planned exploration
BUX plans to carry out airborne magnetic and magnetotelluric surveys to map elevated conductivity related to alteration zones and target-scale structural controls.
Other work includes geochemical sampling to identify metal anomalism tied with heavy-mineral concentrate and zircon analysis to identify fertile catchments.
This initial exploration will focus on the newly granted E45/6231 licence, which constitutes a prospect-scale target.
The company will also progress additional licences E45/6229 and E45/7017 to grant.
This article was developed in collaboration with Buxton Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Buxton Resources clears path to start Royale copper-gold exploration
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