Buxton now chasing maiden Madman holes after wrapping up licensing issues

Buxton Resources (ASX:BUX) has resolved native title and licensing issues and is set to commence its maiden drilling campaign at the Madman project in Western Australia, with site works now expected to start this quarter.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

The company told shareholders the WA titles office is now able to undertake the tenement grant on the back of constructive engagement with Native Title groups; Buxton’s L69/67 licence passed the notification period without objection.

Now – Buxton has identified Madman as a high-potential exploration asset due to its prime location in an area with known mineralisation, supported by geological and geophysical data. Magnetic survey data have suggested mineral deposits may be at shallow depths, with previous sampling and mapping suggesting the presence of gold, copper and other minerals.

The project, located 375 kilometres northeast of Wiluna, is also attracting attention due to its geological similarities to world-class discoveries such as the Havieron gold-copper deposit in the East Pilbara region.

Buxton’s proposed drilling program will investigate a “Havieron-style” magnetic anomaly located approximately 220 metres below surface. The Australian explorer previously secured heritage clearances for up to 30 drill pads, including all associated infrastructure, such as camp sites and laydown areas.

The company has engaged an earthworks contractor, with the start of earthworks planned for March 2026, with drilling to follow based on rig availability.

Elsewhere, in what is looming as a busy year for Buxton, the company is preparing to drill three high-priority targets at the Lateron project at the western margin of the Tanami Province in Western Australia. The company is targeting intrusive-related copper-gold mineralisation at Lateron.

Petrographic results from historic drill core fragments have confirmed the presence of magmatic amphibole and titanite alongside pyrite and chalcopyrite, highlighting the potential for copper-gold deposits.

BUX has been 0.4cps through Monday, after dropping -9%.

 Join the discussion: See what HotCopper users are saying about Buxton Resources Ltd and be part of the conversations that move the markets.

Disclaimer: The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.