Buxton Resources Sets Sight On Manganese Project In Arizona

Buxton Resources Ltd (ASX:BUX) has agreed to acquire the Matrix Manganese Project in Mohave County, Arizona.

The Matrix Project is adjacent to the Artillery Peak manganese deposits, the world’s sixth largest resource by contained metal according to S&P Global.

Low-cost brownfields exploration project

The Artillery Peak deposits are unique in that they are hosted by sandstone having high porosity and low gangue acid consumption.

These characteristics underpin excellent leaching characteristics in comparison with other deposits.

Mapping by the Arizona Geological Survey indicates good potential for known resources to extend onto the Matrix Project tenure.

Strategic market

Buxton CEO Marty Moloney said: “The Matrix Project acquisition provides Buxton shareholders a low-cost option on the high-purity manganese sulphate market which is predicted to grow between 4-6 times by 2030.”

Moloney noted that the strategic context is highly compelling as the project is near >1 TWh of announced US auto pipeline battery cell capacity across > 35 plants.

Next steps

Buxton is planning to commence work on the ground in Q3 2024.

Drilling designed to test extensions of known manganese mineralisation is planned for Q4.

The USA currently relies 100% on manganese imports and significant incentives, such as the Biden Administration’s massive Inflation Reduction Act, are available for critical mineral projects.

 

 Disclaimer

JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.

Articles of Interest