Buxton Resources (ASX:BUX) has begun drilling at its Madman Gold-Copper Project in the Paterson province of Western Australia, comprising a water bore and two diamond drill holes.
The drilling campaign is designed to test the Madman geophysical feature and the Havieron-style gold-copper magnetic anomaly.
Managing Director Martin Moloney says the commencement of drilling at Madman is a “landmark and exciting moment” for Buxton shareholders.
“Our team has done exceptional work to get us to this remote site under unseasonal conditions,” Moloney says.
“We look forward to reporting results as the program progresses.”
Site preparation works, including access track clearing and drill pad construction, were completed ahead of rig mobilisation.
As reported by Mining.com.au yesterday, Buxton Resources’ wholly owned subsidiary completed the sale of its 49% stake in the Copper Wolf Project joint venture in Arizona, US, to IGO (ASX:IGO).
The sale was completed for a total consideration of $5.91 million, along with US$168,000 ($243,840) in property acquisition funds.
Buxton Resources is focused on the discovery and development of nickel, copper, gold, iron, and graphite in Western Australia and Arizona.
Write to Maddison Elliott at Mining.com.au
Images: Buxton Resources
