Buxton Wins A$180k Grant to Drill Promising Madman Gold-Copper Target

Government Grant Validates Madman Project Potential

Buxton Resources Ltd (ASX: BUX) has taken a significant step forward in its exploration journey with the award of up to A$180,000 in co-funding from the Western Australian Exploration Incentive Scheme (EIS). This grant supports the company’s maiden drilling program at the Madman Project, a 100%-owned gold-copper exploration asset located in one of Australia’s most underexplored mineral provinces.

The EIS grant not only provides financial backing but also serves as an independent endorsement of Buxton’s geological targeting. The Madman Project’s magnetic anomaly bears a striking resemblance to the nearby Havieron deposit, a world-class gold-copper system, but with the advantage of being situated under shallower cover, potentially reducing drilling costs and complexity.

Regulatory and Stakeholder Milestones Achieved

Buxton has secured key regulatory approvals critical to advancing the project. The Department of Mines, Industry Regulation and Safety (DEMIRS) has approved the Program of Works (PoW) for drilling and associated activities, clearing a major procedural hurdle. Additionally, the company has executed a Land Access Agreement with the Birriliburu Native Title Holders, represented by the Mungarlu Ngurrarankatja Rirraunkaja Aboriginal Corporation, ensuring respectful and lawful access to the project area.

Buxton has also submitted a Heritage Survey request, a necessary step to obtain clearances before drilling can commence. The company’s proactive engagement with local stakeholders, including reconnaissance visits to nearby Glenayle and Carnegie, has helped de-risk logistical challenges and foster community support.

Project Expansion and Geological Context

The Madman Project’s footprint has been expanded to approximately 530 square kilometres through new exploration license applications, broadening the scope for discovery. Situated along the Marloo Fault, a major crustal boundary within the Paterson Orogen, the project lies in a geological setting known for hosting significant gold and copper deposits such as Telfer, Winu, and Havieron.

Historical data from government and industry sources reveal encouraging signs of mineralisation, including anomalous gold and pathfinder elements detected in stratigraphic drillholes and surface mapping. The magnetic anomaly targeted by Buxton is approximately 1 kilometre in extent and modeled to lie as shallow as 115 to 175 metres below surface, making it an attractive drill target.

Next Steps and Market Implications

Buxton is currently finalising arrangements with drilling and earthworks contractors and awaits heritage clearance to initiate drilling. The company’s leadership expresses confidence that the upcoming drill program could unlock a significant new gold-copper discovery in a region that has seen substantial recent investment and exploration success.

For investors and industry watchers, the Madman Project represents a compelling opportunity to gain early exposure to a potentially transformative asset in a globally significant mineral province. The combination of government co-funding, regulatory approvals, and strong geological indicators sets the stage for a pivotal phase in Buxton’s exploration campaign.