Buxton Resources (ASX:BUX) has identified graphite as the source of an off-hole conductor at its Madman Copper-Gold Project in Western Australia, after completing diamond hole MD004DD to a depth of 627.2m.
The hole intersected pyritic, graphitic metasediments from about 505m to end of hole. Buxton interprets these as the source of the conductor modelled from downhole electromagnetic surveys of previous holes MD002DD and MD003DD.
Graphite had not previously been observed at Madman. The company says graphite is highly conductive, and the modelled conductor plates lie broadly parallel to bedding measured in the graphitic metasediments.
The hole also intersected rare vein-hosted sulphides in quartz-sulphide veins up to 5cm thick, as well as wider zones of quartz vein stockworks spanning 0.2–1.2m and containing trace sulphides. One vein contains about 1% disseminated chalcopyrite.
Core logging and sampling are in progress, with assay results expected in December 2026.
“We will now complete field activities at Madman, undertake assaying and detailed logging, and integrate the results over the Australian summer,” Managing Director Marty Moloney says.
The company intersected the graphitic sediments about 95m above the shallowest predicted plate intersection.
MD004DD was terminated within the predicted 600–700m intersection window, with the difference between the predicted and actual intersection depths falling within the uncertainty expected from plate modelling.
Cross-sectional analysis shows the Skates Hills Formation conglomerate is more than four times thicker in MD003DD than in MD002DD across only 200m of lateral separation. The company interprets this as fault displacement rather than depositional drape or erosion.
MD004DD did not intersect any Skates Hills Formation conglomerate, with the Mundajini Formation gypsum member resting directly on the basement at 494.4m. This indicates an abrupt pinch-out about 230m north-northeast of the 148m conglomerate intersection in MD003DD.
Meanwhile, Buxton is continuing preparations for airborne magnetics and drilling in Arizona, US, with updates expected in coming weeks.
The Madman Project is located 375km northeast of Wiluna and is accessible via the Gunbarrel and Eagle highways.
Buxton’s maiden program in July and August 2026 comprised two diamond exploration holes and a water bore. Both exploration holes intersected quartz-carbonate veining, brecciation, and sulphide mineralisation.
Buxton Resources is an Australian explorer advancing nickel, copper, gold, iron, and graphite projects across WA and Arizona.
Write to JC Villarba at Mining.com.au
Images: Buxton Resources
