BUX.ASX: Madman Project - Maiden Drilling Program Completed

Madman Project - Maiden Drilling Program Completed

Stock	Buxton Resources Ltd (BUX.ASX)
Release Time	12 Aug 2026, 9:33 a.m.
Price Sensitive	Yes

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Buxton Resources Completes Madman Drilling Program

Key Points

Maiden drilling program at Madman completed with two diamond holes totaling 1,367.05 m
Both holes intersected a sulphide-bearing hydrothermal system consistent with major Paterson Orogen Cu-Au deposits
Off-hole conductor identified by DHEM, providing a new target for follow-up drilling

Full Summary

Buxton Resources Ltd. has completed its maiden diamond drilling program at the Madman Cu-Au Project in Western Australia. The program confirmed the presence of an extensive hydrothermal mineral system in basement rocks beneath cover, intersecting multiple zones of quartz-carbonate stockwork veining and intense brecciation with associated sulphide mineralization. The drilling also identified magnetite-bearing basement that explains the target magnetic anomaly. Downhole electromagnetic surveying identified an off-hole conductor, which is now a high-priority target for follow-up drilling. Gold-only assays for one hole are expected by mid-August, with full multi-element assay results expected by the end of September.

Guidance

Full multi-element assay results expected by the end of September 2026

Outlook

Buxton Resources plans to conduct follow-up drilling to test the off-hole conductor identified by DHEM, subject to rig availability and heritage clearances. The company also intends to expand its exploration areas and conduct ground EM and gravity surveys.