Buxton's assessment is the intersection of brecciated massive sulphides within three separate conductors up to 1000m apart at the Merlin prospect mean the "highly prospective target area (has) grown substantially".
Buxton further said the conductors "remain open, unconstrained and plunging towards (the) gravity high" at Merlin.
Drilling is continuing.
Last year the company said the presence of brecciated sulphides "indicates forceful injection or re-working of sulphides in a high-energy magmatic environment, something usually considered an essential part of the processes involved in forming large, high-grade magmatic sulphide deposits".
Merlin is about 80km north east of Derby.
Buxton is led by former Fortescue Metals Group exploration executiv...