Permits Secured but Exploration Risks Remain for Buxton’s Madman Copper-Gold Target

Approvals Unlock Exploration Potential

Buxton Resources Ltd (ASX:BUX) has announced a significant milestone for its 100% owned Madman copper-gold project in Western Australia, having received all key licences and regulatory approvals to commence exploration drilling. This green light follows proactive engagement with the local Mungarlu Ngurrarankatja Rirraunkaja Aboriginal Corporation, facilitating the rapid grant of the Miscellaneous Licence L69/67 and approval of drill pads, camp, and track construction.

Preparatory earthworks are slated to begin in early April 2026, with the drilling contractor McKay Drilling mobilising a rig by mid-April to undertake the maiden two-hole deep diamond drilling campaign. The program aims to test a discrete magnetic anomaly approximately 220 metres below surface, which bears a striking resemblance to the Havieron deposit, one of Australia’s most significant undeveloped underground gold-copper reserves.

Geological Context and Exploration Rationale

The Madman anomaly is situated near the Marloo Fault, a major transcrustal structure on the western margin of the Paterson Orogen; a region renowned for world-class copper-gold deposits including Telfer, Winu, and Havieron. Buxton’s geophysical inversion modelling indicates the anomaly’s top lies at about 220 metres depth and shares similar magnetic remanence characteristics with Havieron, suggesting a comparable timing and mineralisation style.

Historical data from the Geological Survey of Western Australia (GSWA) and Fortescue Metals Group highlight nearby gold-barium mineralisation and anomalous pathfinder elements such as tellurium, bismuth, and copper in stratigraphic drill holes. Hyperspectral analysis points to extensive hydrothermal alteration consistent with large-scale gold-bearing systems in the Paterson Orogen.

Logistics and Funding Support

To support the drilling program, Buxton will upgrade approximately 6 kilometres of existing seismic line track and establish around 56 kilometres of new access tracks, drill pads, sumps, and a camp pad. These activities will be overseen by Aboriginal Monitors from MNRAC, ensuring cultural and environmental considerations are respected.

Importantly, Buxton has secured up to A$180,000 in funding through the Western Australian Government’s Exploration Incentive Scheme, helping to offset drilling costs and underscoring government support for exploration in this highly prospective region.

Looking Ahead

Managing Director Marty Moloney emphasised Buxton’s track record of province-defining discoveries and expressed optimism about the Madman Project’s potential. With all permits in hand and rig mobilisation imminent, the company is poised to deliver the first-ever drill holes into this frontier target, potentially unlocking a new chapter in the Paterson Orogen’s copper-gold story.

While the upcoming drilling results remain uncertain, the combination of geological setting, geophysical signatures, and historical data positions Madman as a compelling exploration opportunity to watch closely in 2026.