Buxton Starts 1,000m Drill at Centurion, Backed by $220k Government Grant
Buxton Resources has commenced its inaugural drilling program at the Centurion Project, targeting a large IOCG geophysical anomaly in Western Australia, with government co-funding easing costs. Initial assay results are expected by early October.
- Maiden 1,000-metre drill hole underway at Centurion IOCG target
- Large 3x5 km magnetic and gravity anomaly resembling Olympic Dam
- WA Government Exploration Incentive Scheme offsets up to $220,000
- Initial assays anticipated late September to early October 2025
- Follow-up drilling planned based on initial results
A New Chapter in IOCG Exploration
Buxton Resources Ltd (ASX:BUX) has officially kicked off its maiden drilling campaign at the Centurion Project, a highly prospective Iron Oxide Copper Gold (IOCG) target located in Western Australia's Great Sandy Desert. This marks a significant milestone for the company, which holds 100% ownership of the project, situated in a structurally compelling region near major crustal boundaries.
Testing a Large-Scale Geophysical Anomaly
The drilling program aims to test a substantial 3 by 5 kilometre geophysical anomaly characterized by coincident magnetic and gravity signatures. These features are reminiscent of world-class IOCG deposits such as Olympic Dam and Carrapateena, raising hopes that Centurion could host a similar hydrothermal mineral system. The initial drill hole will reach approximately 1,000 metres, employing a mud rotary pre-collar to penetrate sedimentary cover before transitioning to diamond drilling to sample basement rocks.
Cost-Efficient Exploration with Government Support
Buxton has secured up to $220,000 in co-funding through the Western Australian Government’s Exploration Incentive Scheme, helping to offset drilling expenses. This financial support underscores the project's geological promise and the government's commitment to fostering mineral exploration in the region. The company expects the drilling to take three to four weeks, with initial assay results anticipated by late September or early October.
Building on Historical Insights and Community Engagement
Historical drilling by CRA in 1993 encountered altered felsic and mafic intrusives within conglomerates, suggesting proximity to a hydrothermal system consistent with IOCG mineralization. Buxton’s current program benefits from modern geophysical data and a strategic drilling plan designed to minimize risk and enable rapid follow-up holes if warranted. The company has also secured heritage protection agreements with local Aboriginal corporations, ensuring respectful and compliant access to the land.
Looking Ahead
Buxton’s CEO Marty Moloney highlighted the alignment of this drilling campaign with the company’s strategy to pursue large-scale, 100%-owned projects capable of delivering transformative discoveries. As the rig turns at Centurion, the market will be watching closely for assay results that could validate the project's potential and set the stage for further exploration and value creation.
Bottom Line?
Buxton’s maiden drill at Centurion could redefine its exploration trajectory, early assay results will be pivotal.
Questions in the middle?
- Will initial assays confirm the presence of economically viable IOCG mineralization?
- How quickly will Buxton proceed with follow-up drilling based on initial results?
- Could government co-funding pave the way for expanded exploration partnerships?
