Buxton’s Madman Drill Hole Reveals Sulphide Mineralisation Matching Magnetic Anomaly

• Maiden drill hole MD002DD hits hydrothermal breccia with sulphides
• Pyrrhotite identified as source of ~200nT magnetic anomaly
• Visual textures consistent with Paterson Orogen gold-copper deposits
• No gold yet detected; assays pending with timing unknown
• Further drilling and downhole EM survey planned to refine target

Drill Hole MD002DD Intersects Sulphide-Rich Hydrothermal Breccia

Buxton Resources Ltd (ASX:BUX) has delivered an encouraging update from its 100% owned Madman Project in Western Australia, where maiden diamond drill hole MD002DD has intersected a hydrothermal breccia hosting clotty semimassive sulphides. The sulphide intensity notably increases with depth, with pyrrhotite identified as the key magnetic mineral explaining the ~200nT magnetic anomaly that defines the ~1 km² target.

These sulphide textures and veining bear visual resemblance to other prominent gold-copper deposits in the Paterson Orogen, including Havieron and Telfer, though no direct evidence of gold has yet emerged from the hole. The drilling is ongoing, currently at 533.9 metres, with plans to extend it further subject to geological assessment.

Pyrrhotite Discovery Links Geophysics to Mineralisation

Buxton’s identification of pyrrhotite is a pivotal development, as it is the only mineral phase in MD002DD with sufficient magnetic susceptibility to explain a meaningful component of the Madman geophysical target. The presence of pyrrhotite, alongside increasing pyrite and chalcopyrite, supports the interpretation of a hydrothermal gold-copper system beneath shallow cover.

However, the current hole has not intersected enough magnetic material to fully explain the anomaly, suggesting the main magnetic source may lie to the north along a planned second drill hole. This aligns with Buxton’s magnetic inversion modelling, which places the target around 220 metres below surface.

Geological Context and Exploration Strategy

The Madman Project sits on a major crustal boundary, the Marloo Fault, which forms part of the western margin of the Paterson Orogen, a prolific region hosting over 34 million ounces of gold and 3.3 million tonnes of copper across deposits like Telfer and Havieron. Historical data from nearby stratigraphic drill hole GSWA Trainor 1 revealed anomalous gold and pathfinder elements linked to hydrothermal alteration, further supporting the prospectivity of the area.

Buxton is advancing its exploration with downhole electromagnetic surveys planned for MD002DD, which will guide additional drilling. The company anticipates at least one more deep diamond drill hole to test the extent of the mineralised system and the magnetic anomaly.

Assay Results and Next Steps Awaited

While visual logging has provided strong encouragement, Buxton stresses that no gold has been confirmed visually or by portable XRF, partly due to interference from elements like arsenic that complicate detection. Laboratory assays will be critical to verify the presence and grade of gold and copper, though the timing for these results remains uncertain.

This update follows Buxton’s recent capital raises aimed at funding exploration at Madman and other projects, underscoring the company’s commitment to advancing its Australian portfolio. The evolving drill program and geophysical data will be key to defining the project’s potential in the coming months.

Bottom Line?

Buxton’s initial drilling at Madman strengthens the case for a significant gold-copper system, but assay results and further drilling will be crucial to confirm mineralisation and define the target.

Questions in the middle?

• Will assay results confirm the presence and grade of gold at Madman?
• How will downhole EM surveys refine the understanding of the magnetic anomaly?
• What will the next drill hole reveal about the extent and concentration of sulphide mineralisation?