Buxton Resources Unveils Strong Assay Results from Maiden Centurion Drilling

Maiden Drilling Milestone at Centurion

Buxton Resources Limited (ASX, BUX) has marked a significant step forward with the completion of its maiden drilling program at the Centurion Project, located in the Great Sandy Desert. The drilling targeted a large, coincident magnetic and gravity anomaly characteristic of Iron Oxide Copper Gold (IOCG) deposits, with depths between 520 and 700 metres beneath post-mineral cover. Although one hole was abandoned due to loose sand just above the basement target, subsequent assay results have revealed strong pathfinder elements, hinting at promising mineralisation potential.

Buxton has also expanded the Centurion footprint with a new Exploration Licence Application, and geophysical surveys are underway to better map depth-to-basement structures. These efforts aim to refine follow-up drilling plans, with results expected soon, underscoring the company’s commitment to advancing this flagship project.

Progress and Planning at Madman and Graphite Bull

At the Madman Project in the Little Sandy Desert, Buxton secured heritage clearances during the quarter, clearing a key hurdle for exploration. Drilling is now anticipated to commence in the first half of calendar year 2026, targeting a shallow aeromagnetic anomaly comparable to notable regional discoveries.

Meanwhile, the Graphite Bull Project, situated east of Carnarvon, achieved a successful milestone with qualification testwork completed by a major Chinese anode manufacturer. This downstream validation of the graphite concentrate enhances the project’s commercial appeal and positions Buxton well within the growing battery materials sector.

Strategic Portfolio Refinement and Financial Position

Buxton has strategically refocused its project portfolio to concentrate on high-potential copper-gold discovery opportunities, including new applications such as Montello in the West Musgrave region. Non-core assets like Matrix, Shogun, and Royale are earmarked for divestment or joint ventures, reflecting a disciplined approach to capital allocation and exploration efficiency.

Financially, the company reported a cash balance of approximately AUD 1.666 million at quarter-end, with exploration expenditure of AUD 0.652 million primarily directed towards drilling and heritage surveys. Corporate costs remained controlled, and management confirmed adequate funding to sustain current activities, supported by ongoing fiscal prudence.

Leadership Transition and Upcoming AGM

Post-quarter, Buxton announced a leadership change with Martin Moloney transitioning from CEO to Managing Director, signaling continuity in strategic direction. Concurrently, Non-Executive Director Jared Jacob resigned, prompting potential shifts in board dynamics. The company’s Annual General Meeting is scheduled for 19 November 2025, where shareholders can expect further updates on exploration progress and corporate governance.

Buxton’s multi-pronged exploration approach, combined with recent assay successes and a sharpened project focus, positions it as a company to watch in the copper-gold exploration space as it heads into 2026.