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Buxton Resources Limited (ASX:BUX)

ALERT: Price-sensitive ASX Announcement for BUX
Current share price for BUX : $0.049 0.009 (22.50%)+
Announcement
Release
16 Jul 2026 8:23AM
Price at Release
$0.040
Full Release
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Summary
Buxton Resources Limited announced a drilling update for their Madman Project, highlighting the progress of their maiden drill hole MD002DD, which is situated in a potential gold-copper deposit area in the Paterson Orogen. The drilling revealed hydrothermal breccia with increasing sulphide content at deeper levels, including pyrrhotite, which correlates with the project's significant magnetic anomaly. The findings suggest potential for a gold-copper system similar to notable deposits in the region. However, assay results are pending to confirm mineral content. The project aligns with other regional exploration efforts targeting mineral systems of similar age and composition.
Key Points
  • Maiden drill hole MD002DD at Madman Project intersects hydrothermal breccia.
  • Drilling reveals increasing sulphide content at depth, including pyrrhotite.
  • Pyrrhotite explains Madman's significant magnetic anomaly.
  • Potential for a gold-copper system similar to known deposits like Havieron and Telfer.
  • Assay results pending for mineral content confirmation.
  • Madman Project is part of exploration in the Paterson Orogen region.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.