Buxton Resources (ASX:BUX) has reported assay results from its maiden drilling program at the Madman Project in Western Australia, supporting the area’s gold prospectivity.
The company received results for 147 samples over 140.8m, covering the basement sequence from 498m to 635.8m in hole MD002DD. The peak coincident gold‑copper result returned 0.37m @ 0.239 grams per tonne gold (Au) and 1,630 parts per million copper (Cu) from 542.72m.
Managing Director Marty Moloney says the maiden drilling program has established that Madman hosts a fertile and apparently large hydrothermal system.
“This maiden drilling program, a wildcat 40km from the nearest hole, has established that Madman hosts a fertile and apparently large hydrothermal system. In that context, detecting gold in MD002DD is highly significant,” Moloney notes.
The highest gold grades are accompanied by pyrrhotite, a highly conductive sulphide that also accompanies the main gold event at Greatland Resources’ (ASX:GGP) Havieron copper-gold deposit.
Buxton reports the multi‑element geochemical association at Madman is markedly richer in arsenic and antimony and poorer in tellurium and tin than at Havieron. The company interprets this as consistent with a higher structural level within a system of comparable style.
The basement sequence carries a hydrothermal overprint signal comprising enrichment in arsenic, bismuth, tungsten, tellurium, silver, and antimony, accompanied by depletion in sodium and strontium.
Comparison with open‑file Havieron data shows that MD002DD is distinctly higher in several pathfinder elements, particularly arsenic and antimony. Median silver, antimony, and arsenic at Madman are approximately four, eight, and eight times the corresponding Havieron peripheral values, respectively.
The untested off‑hole conductor identified by downhole electromagnetic surveying remains the highest‑priority target for follow‑up drilling. The conductor sits approximately 350m north of MD002DD and measures up to 1km by 1km in size.
“The new assay data provides pathfinder signatures that tell us we need to look laterally and/or deeper in the system. Gold appears to be accompanied by pyrrhotite — a highly conductive mineral also found at Havieron,” Moloney adds.
Downhole electromagnetic surveying of MD003DD is scheduled for late August, with assays anticipated by late September. Drill testing of the conductor is subject to contractor availability.
Buxton holds a 100% interest in the Madman Project through granted exploration licences E69/4182 and E69/4356.
Buxton Resources is an Australian explorer advancing a portfolio of copper‑gold projects across Western Australia and the US, including the Centurion and Copper Wolf projects alongside its flagship Madman asset.
Write to JC Villarba at Mining.com.au
Images: Buxton Resources
