en.Wedoany.com Reported - Buxton Resources has completed site preparation for the first drilling campaign at the Madman copper-gold project in the Paterson Orogen, Western Australia, planning two deep diamond drill holes to test a discrete ~1 square kilometer "Havieron-style" magnetic anomaly approximately 220 meters below surface. The anomaly closely resembles the Havieron gold-copper deposit, Australia's third-largest undeveloped underground gold resource. Drilling contractor McKay Drilling is expected to mobilize the rig to site in the near future to execute this drilling program.
Buxton Resources (ASX:BUX) stated that access clearing and drill pad construction have been completed, with all access infrastructure in place. Managing Director Marty Moloney noted that completing earthworks at Madman is a significant milestone, with the field team performing excellently in preparing access tracks and pads under remote and challenging conditions; with the rig ready, the company is poised to conduct the first drill test of the compelling Havieron-style copper-gold target.
The Madman project is located near the Malu Fault, a major crustal-scale structure on the western margin of the Paterson Orogen. Regional exploration potential is supported by nearby Quadrio Lake gold-barium mineralization and the GSWA Trainor 1 stratigraphic drill hole, which intersected a zone of quartz-pyrite veinlets containing highly anomalous gold and indicator elements including tellurium, bismuth, and copper. Hyperspectral analysis of Trainor 1 core indicates widespread bleaching and potassic alteration associated with the veins, and the host rock at this location may be the same as that hosting the Madman magnetic anomaly. Overall, these indications suggest a large gold-bearing hydrothermal system has been superimposed on the Madman basement rocks, with the timing of this hydrothermal event consistent with world-class copper-gold systems in the Paterson Orogen. These systems include the giant Telfer project, which hosted resources of 32 million ounces of gold, 1 million tonnes of copper, and approximately 25 million ounces of silver prior to mining.
News of the new drilling campaign comes one day after Greatland Resources (ASX:GGP) approved the Havieron development project, marking the start of construction for this gold and copper mine valued at over A$1 billion. As the region races to find the next major discovery, Buxton is among the contenders.
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