Buxton Resources Limited updated shareholders that the Moving Loop Electromagnetic (MLEM) survey to identify drill targets adjacent to the existing Resource has commenced at Buxton's 100% owned Graphite Bull project. The high-power ground MLEM will identify any untested high-grade zones proximal to the known resource. These will be in addition to several high-grade zones open within the existing Resource, for example, westwards from YBRC0015 (31m @ 22.5% TGC) and YBRC0016 (30m @18.9% TGC). Buxton therefore anticipates that the MLEM will provide targets to expand the current Resource of 4M @ 16.2% TGC, particularly given the existing Resource covers 450 metres of strike, and airborne EM indicates excellent potential for additional graphite mineralisation along at least 3 km of strike. Buxton is also pleased to announce that the Wajarri Yamaji Aboriginal Corporation
("WYAC") in conjunction with Archaeological Excavations Pty Ltd. have completed a heritage survey at Graphite Bull. The polygon clearance survey will enable final planning and commencement of extensional, exploration and some infill drilling in fist quarter of 2023, for which a Program of Works approval is already in place. During November, Buxton engaged two experienced and well credentialled WA graphite metallurgical consultants, BatteryLimits and Independent Metallurgical Operations (IMO) to undertake collaborative testwork on flotation pathways through to a >95% TGC concentrate suitable as feed for purified spheroidised graphite (PSG) production. A representative 51 m @ 15.8% TGC 133 kg master sample of diamond drill half-core was submitted to ALS Metallurgical on 17 November for crushing, blending and sub-sampling. Flotation testwork by BatteryLimits and IMO is well underway, with the first three float tests successfully completed. Final results are expected early in 2023.