Buxton Resources Limited updated shareholders that interpretation of Airborne EM (AEM) by JV partner IGO Ltd. has identified multiple high priority anomalies at the Narryer Project, including at the newly defined Bandito
Ranger Prospects. IGO have identified 21 Priority 1 and 2 anomalies (warranting immediate follow-up) along with 214 Priority 3 anomalies from Buxton AEM survey. Based on this analysis, IGO have identified the newly defined Bandit and Ranger Prospects as areas for immediate follow-up Ground EM subject to a field reconnaissance visit scheduled for the week of 24th October. IGO will be required to strike their Option on the Narryer Project for Ground EM to commence. IGO may earn a 51% interest in the Narryer tenements by spending $3,000,000 within a 3-year period. The highest priority target is associated with several anomalies at the Bandit Prospect, located in the Proterozoic Badgeradda Basin. The northern extension of this area has been covered with exploration license application E09/2722. This target is also associated with a discrete magnetic anomaly. Many Priority 2 anomalies have high Time Constant and are located within a string of Priority 3 anomalies interpreted to represent conductive Archean lithologies. The elevated conductivity of these Priority 2 anomalies may be related to mineralisation, and these areas will be also subject to ground follow-up.