Buxton Resources Drills Toward Madman Copper-Gold Target With Results Due by October
Key Takeaways
- Diamond hole MD004DD is at about 500 m, with the EM conductor modelled at 600 m to 700 m and completion expected by mid-October at the planned 800 m depth.
- The conductor was confirmed by downhole EM on MD003DD from two separate transmitter loop positions, with modelled plates up to 1,000 x 1,000 m and conductance up to 1,000 Siemens.
- All 343 assay samples (465.1 m) are in, with the best gold-copper result being 0.37 m at 0.239 g/t Au and 1,630 ppm Cu in MD002DD, and gold low throughout.
- The conglomerate is more than four times thicker in MD003DD than MD002DD over about 200 m, supporting Buxton's releasing-step interpretation, which MD004DD will test.
- The conductor source is unknown, as it could be sulphide, graphite, magnetite or saline groundwater, and Madman has no Mineral Resource or economic mineralisation yet.
Madman drilling at 500 m as MD004DD closes in on EM conductor
Buxton Resources has diamond hole MD004DD at approximately 500 m downhole, with the electromagnetic (EM) target modelled between 600 m and 700 m. The hole is testing the off-hole target at the 100%-owned Madman Cu-Au Project in Western Australia.
At current production rates, completion is expected by mid-October. Heavy rainfall in the region has limited drilling to day shift to date.
The company also received the remaining gold and multi-element assays for MD002DD and MD003DD. For you as an investor, that means the data from the first two holes is now complete, and the result from the third hole is close.
Marty Moloney, Managing Director
“The anticipation is building as we drill towards the targeted EM conductor… The remaining assays from the maiden drill holes continue to reinforce the interpreted presence of a structurally controlled hydrothermal system that has elements consistent with Paterson Orogen-style gold-copper deposits such as Havieron, Winu and Telfer…”
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What MD004DD is testing
The conductor target
The conductor is modelled approximately 250 m north-northeast of MD003DD. It was first identified about 350 m north of MD002DD, and downhole electromagnetic (DHEM) surveying of MD003DD from two separate surface transmitter loop positions confirmed the same off-hole response.
The planned hole depth is 800 m. Modelled plate sizes range from approximately 400 x 400 m to 1,000 x 1,000 m, with modelled conductances of approximately 400 to 1,000 Siemens. The plates strike northwest and dip 55 to 75 degrees to the southwest.
One caveat matters here. EM plate modelling is non-unique, so the plates are alternative solutions that each satisfy the same measured response, not separate conductive bodies. The source of the conductive response is unknown, and responses of this character may be produced by sulphide, graphite, magnetite, saline groundwater or conductive lithologies.
How DHEM surveys guide drilling
Downhole electromagnetic surveying lowers a sensor into an existing drill hole and measures the electrical response of the surrounding rock. A conductive body away from the hole produces a detectable signal, which lets explorers see material that the drill has not intersected.
Modelling then turns that signal into plates of varying size and conductance. Because several plates can fit the same data, the result is a range of possible depths, which is why the MD004DD target is given as 600 m to 700 m rather than a single number. That is how Buxton targets beyond the first two holes.
Assay results reinforce a hydrothermal system
Gold and multi-element analyses were completed on all 343 samples, totalling 465.1 m. Coverage is continuous from 452.0 m to end of hole in MD002DD and from 450.0 m to end of hole in MD003DD.
| Hole | Highlight result | Depth | Significance | Source |
|---|---|---|---|---|
| MD002DD | 0.37 m at 0.239 g/t Au, 1,630 ppm Cu, 11.15 ppm Bi, 300 ppm As | From 542.72 m | Strongest coincident gold-copper result | Previously reported 20 August 2026 |
| MD003DD (gold) | 1.0 m at 0.027 g/t Au | From 645.0 m | Highest gold result; gold is low throughout | Table 2 |
| MD003DD (copper) | 1.0 m at 618 ppm Cu with 12.2 ppm Bi | From 621.0 m | Highest copper result, 7 m below the unconformity | Table 2 |
Compared with MD002DD, MD003DD (the hole closer to the modelled conductor) returned:
- Higher copper, zinc and chlorite-associated magnesium in the basement immediately below the unconformity.
- Higher tungsten, potassium and lithium in the lowest part of the overlying conglomerate.
- Lower arsenic, antimony and lead.
Buxton interprets this variation as a possible zonation within the same, structurally controlled hydrothermal system. The higher gold and copper values and wider zones of quartz-carbonate-sulphide cemented breccias in MD002DD are interpreted to result from proximity to a splay off the fault system.
The Skates Hills Formation conglomerate is over four times thicker in MD003DD than in MD002DD across only about 200 m of lateral separation. Buxton’s working interpretation is a releasing step in a strike-slip fault system, and the conglomerate thickness intersected in MD004DD will discriminate between the possible interpretations.
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What comes next
MD004DD is expected to be completed by mid-October at current production rates. Detailed structural logging of MD002DD and MD003DD is in progress.
Ground gravity and ground electromagnetic surveys and further diamond drilling are the subject of heritage work programme notices under the Land Access Agreement.
The comparison with Paterson Orogen-style deposits such as Havieron, Winu and Telfer is management’s interpretation. No mineralisation of economic tenor has been identified at the Madman Project, and the company has no Mineral Resource there, so MD004DD is the next test of the conductor.
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