Buxton Resources Madman Project Drilling Update
Key points
- Maiden drill hole MD002DD intersects hydrothermal breccia with sulphides
- Pyrrhotite identified as the magnetic mineral explaining the Madman anomaly
- Textures consistent with hydrothermal gold-copper deposits
- Further drilling and downhole EM surveys planned
Full summary
Buxton Resources Ltd has reported an update on the Madman Project, where the maiden drill hole MD002DD has intersected hydrothermal breccia with clotty semi-massive sulphides, predominantly pyrite and pyrrhotite. The textures observed are consistent with hydrothermal gold-copper deposits. Although no gold has been detected yet, the presence of pyrrhotite is significant as it can explain the Madman ~200nT magnetic anomaly. Buxton plans to extend MD002DD and conduct downhole electromagnetic surveying. Further exploration, including at least one additional drill hole, is expected to be necessary to fully explain the magnetic anomaly. Assay results are pending.
Guidance
No specific financial guidance provided
Outlook
Buxton remains optimistic about the potential of the Madman Project to host a gold-copper deposit, pending assay results and further drilling.
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