Madman Project - EIS Drilling Grant Awarded
Released
Released
Announcement PDF
ASX Release
ASX:BUX
1 May 2025
Madman Project: EIS Drilling Grant Awarded
•
Up to A$180,000 EIS co-funding awarded for Madman’s maiden drill program
•
Program of Works approved by DEMIRS for drilling and related activities
•
Land Access Agreement executed with Birriliburu Native Title Holders
•
Heritage Survey request submitted
•
Project expanded to ~530 km2 through new license applications
Buxton Resources Ltd (ASX: BUX & BUXO) is pleased to announce that its 100%owned Madman Project has been awarded an Exploration Incentive Scheme (EIS)
grant of up to A$180,000 to support its maiden drilling program. This competitive
grant provides an independent validation of Buxton’s targeting in one of Australia’s
most underexplored gold regions by a world-leading geoscience organisation.
Figure 1: GSWA statewide magnetic imagery comparing the Madman geophysical anomaly to the Havieron
magnetic feature. Madman lies under shallow cover and close to the Marloo Fault – a major crustal boundary.
CEO, Marty Moloney comments, “Buxton is rapidly progressing toward the maiden
drill program at our 100%-owned Madman Project and this grant reinforces our
confidence in the geological potential of the area to host a significant gold deposit.
We are proceeding with the necessary permitting processes and look forward to
initiating drilling activities upon their completion.
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This Announcement
is
supported
by
a
video
overview from CEO Marty Moloney available on
Nedlands
WA 6009
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Belmont WA 6104
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Buxton’s
InvestorHub
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Chair of the Board, Gervaise Heddle comments, ” These are exciting times at Buxton
where we will be drilling several gold-copper targets soon, including the Madman
magnetic anomaly, which appears similar to Havieron, but even shallower.”
Other key developments at the Madman Project include:
-
DEMIRS has approved the PoW for the maiden Madman drilling program
-
Senior Buxton personnel have completed a reconnaissance visit to meet key
local stakeholders at Glenayle and Carnegie who greatly contributed to derisking the logistical approach for the drill program
-
A Land Access Agreement has been executed with the Mungarlu
Ngurrarankatja Rirraunkaja Aboriginal Corporation, which acts for the
Birriliburu Holders of the Native Title Determination within which the Madman
Project lies. Buxton has also submitted a Heritage Survey Request.
-
Buxton has applied for an additional Exploration License (E 69/4283) which
expands the Project to now cover ~530 km2. An application for a
Miscellaneous License (L 69/66) for the purpose of a road has also been
lodged. The commencement of the drilling program at Madman is not subject
to the grant of these Licenses.
Next Steps
Buxton is currently working with suitably qualified drilling and local earthworks
contractors to refine the works program. Buxton has also submitted a Heritage
Survey Request for the drilling program. Once this Survey is complete and
clearances are received, the Project is then ready for immediate drill testing.
---o0o--This announcement is authorised by the Board of Buxton Resources Ltd. For further
information, please contact:
Martin Moloney
Sam Wright
Chief Executive Officer
Company Secretary
marty@buxtonresources.com.au
sam@buxtonresources.com.au
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About the Madman Project
The Madman Project is located 375 km northeast of Wiluna and is accessible via
Carnegie Station, then the Gary Highway, then by a historic seismic line in good
condition.
The Project lies along the Marloo Fault, which is part of a major transcrustal structure
that defines the western margin of the Paterson Orogen i.
There has been no previous on-ground exploration at Madman, which covers a
discrete geophysical anomaly --- a Havieron “look-a-like” ~200nT magnetic feature
~1 km2 in extent. Inversion modelling indicates the target is potentially as shallow
as 115-175 metres below surface ii.
Prospectivity for gold is supported by records arising from a GSWA mapping
program that resulted in the discovery of vein-hosted gold-barium mineralisation at
the Quadrio Lake and Phenoclast Hill prospects iii.
The nearby stratigraphic drillhole GSWA Trainor 1 intersected a zone of quartz-pyrite
veinlets from 397.1 – 417.55 metres downhole with distinctly anomalous gold up to
33 ppb associated with tellurium up to 823 ppb (>800 times average crustal
abundance), along with a suite of other anomalous pathfinder elements including
arsenic (137 ppm), antimony (2.73 ppm), molybdenum (36 ppm), copper (402 ppm)
and bismuth (772 ppb) iv & v. Hyperspectral analysis of this drill core reveals extensive
zones of bleaching and k-feldspar alteration surrounding the anomalous
geochemistry, suggesting mineralisation is associated with a more extensive
hydrothermal event vi.
The GSWA interpret the timing of the gold-related mineralisation and alteration
event in the Madman region as being coeval with other deposits in the Paterson
Orogen Au/Cu deposits (~650 Ma) vii including Telfer, Winu, Havieron and others
which collectively represent over 34.6 million ounces of gold and 3.3 Mt copperviii.
Over 50% of this gold endowment, and virtually all the copper, has been defined
within the last decade underscoring the low exploration maturity of this highly
prospective region.
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Figure 2: Regional setting of the Madman Project showing the key supporting geological elements
including the Marloo Fault and extensions and the nearby gold-bearing mineral occurrences at
Quadrio Lake and in the GSWA Trainor 1 stratigraphic drillhole. The extent of the Paterson Orogen
and related major mineral deposits is also shown. Buxton’s new application E 69/4283 will expand
Buxton’s 100% owned tenure position to ~530 km2 on grant.
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Competent Persons – Royale Project
The information in this report that relates to Exploration Results is based on information compiled by
Mr Martin Moloney. Mr. Moloney, (B. App Sc. Hons) is a Member of the Australian Institute of
Geoscientists and Society of Economic Geologists. Mr Moloney is a full-time employee of Buxton
Resources Ltd. Mr Moloney has sufficient experience which is relevant to the activity being
undertaken to qualify as a “Competent Person” as defined in the 2012 edition of the Joint Ore
Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves. Mr Moloney consents to the inclusion in this report of the matters based
on the information in the form and context in which it appears.
JORC Table: Section 1 – Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques
Nature and quality of sampling (eg cut channels, random
chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as down-hole gamma sondes, or
handheld XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
Aspects of the determination of mineralisation that are
Material to the Public Report. In cases where ‘industry
standard’ work has been done this would be relatively
simple (e.g. ‘reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other cases,
more explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (e.g.
submarine nodules) may warrant disclosure of detailed
information.
Drill type (e.g., core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc) and
details (e.g. core diameter, triple or standard tube, depth
of diamond tails, face-sampling bit or other type, whether
core is oriented and if so, by what method, etc).
The assay results presented in this release relate to a
stratigraphic hole by GSWA in 1995 and resampled by
FMG in 2022. The drilling used industry standard
methods to produce diamond drill core from 5.8 metres
to 709 metres (end of hole). All known details can be
found in Stevens & Adamides (1998).
Drilling techniques
Drill sample recovery
Method of recording and assessing core and chip sample
recoveries and results assessed.
Measures taken to maximise sample recovery and ensure
representative nature of the samples.
Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse material.
Logging
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Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies
and metallurgical studies.
Whether logging is qualitative or quantitative in nature.
Core (or costean, channel, etc) photography.
The total length and percentage of the relevant
intersections logged.
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Stevens & Adamides (1998) report that the hole GSWA
Trainor 1 was drilled by Western Deep Hole Drilling using
a UDR 1000 (Warman 1000 Mk 4) drill rig mounted on an
8 x 4 UD (Rig No. 5) as HQ (5.8m – 198.5m) and NQ2
diameter core (198.5 – 709m EOH).
The hole was spudded on 1 Nov 1995 and completed on
10 Nov 1995.
Stevens & Adamides (1998) report 100% recovery from
5.8 m to the end of hole at 709 m depth.
Trainor 1 was drilled virtually trouble free, with excellent
core recoveries in both the HQ and NQ cored intervals.
The only significant problems were the need to dump
and replace the mud at 454 m, and the relatively short
coring runs achieved in the NQ hole due to fractured
ground.
See Stevens & Adamides (1998). Visual geological
logging is supported by an extensive array of supporting
data collection, including wireline logging, petrology,
palynology, geochemistry and petrophysics.
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Sub-sampling
techniques and
sample preparation
If core, whether cut or sawn and whether quarter, half or
all core taken.
If non-core, whether riffled, tube sampled, rotary split,
etc and whether sampled wet or dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling
stages to maximise representivity of samples.
Diamond drilling samples were collected for FMG from
the GSWA core library under sampling approval P1492.
GSWA technicians used a diamond core saw to provide
quarter core or half core HQ samples from the
highlighted drill intervals. GSWA did not report sample
weights. GSWA sample lengths averaged 0.31 metres.
FMG do not report sample weights or lengths.
Measures taken to ensure that the sampling is
representative of the in-situ material collected, including
for instance results for field duplicate/second-half
sampling.
Whether sample sizes are appropriate to the grain size of
the material being sampled.
Quality of assay data
and laboratory tests
The nature, quality and appropriateness of the assaying
and laboratory procedures used and whether the
technique is considered partial or total.
GSWA’s samples were analysed by AMDEL by ICP (IC3E
and IC3M), XRF, and Fire Assay (see Stevens & Adamides
(1998).
FMG’s method records indicate their samples were
submitted to ALS Laboratories for multielement
geochemistry by ME-MS61L, ME-MS81 and ME-XRF26.
FMG did not assay for gold.
For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining the
analysis including instrument make and model, reading
times, calibrations factors applied and their derivation,
etc.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory checks)
and whether acceptable levels of accuracy (ie lack of bias)
and precision have been established.
Verification of
sampling and
assaying
The verification of significant intersections by either
independent or alternative company personnel.
Not applicable – the release does not present new
geophysical data.
Quality Control and Quality Assurance procedures were
not reported by GSWA or FMG.
GSWA reported results for 4 duplicate samples vs 28
primary samples and no blanks or standards. FMG did
not report any duplicates, blanks or standards.
Not applicable – the release does not report significant
intersections.
The use of twinned holes.
Not applicable – the release does not include new
drilling results. GSWA did not drill any twin holes.
Documentation of primary data, data entry procedures,
data verification, data storage (physical and electronic)
protocols.
Discuss any adjustment to assay data.
Unknown - GSWA did not specify these details in their
reporting.
Assay data are presented as “up-to” values and are from
three different samples from between 400.19 m –
415.45 metres downhole in GSWA Trainor 1 as follows:
Analyte
Reported in
Announcement
Text
Operator
Sample ID
Depth
FMG*
D682617
400.19
Bi, Te, Sb
GSWA
133283
410.10
As, Au, Mo
GSWA
133284
415.45
Cu
*FMG did not assay for gold.
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Location of data
points
Data spacing and
distribution
Accuracy and quality of surveys used to locate drill holes
(collar and down-hole surveys), trenches, mine workings
and other locations used in Mineral Resource estimation.
GSWA do not record the survey methodology.
Specification of the grid system used.
All figures are presented in GDA2020, MGA zone 51S.
Quality and adequacy of topographic control.
The quality of topographic control is deemed adequate
for the reconnaissance nature of the results presented.
Data spacing for reporting of Exploration Results.
See tables and figures in the body of the release for
sample locations.
Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity
appropriate for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications applied.
Whether sample compositing has been applied.
Orientation of data in
relation to geological
structure
Sample security
Audits or reviews
The sampling reported is reconnaissance in nature and is
insufficient to establish any degree of geological grade
continuity.
Whether the orientation of sampling achieves unbiased
sampling of possible structures and the extent to which
this is known, considering the deposit type.
If the relationship between the drilling orientation and
the orientation of key mineralised structures is considered
to have introduced a sampling bias, this should be
assessed and reported if material.
The measures taken to ensure sample security.
The degree to which the sampling may bias the actual
grade and extent of mineralisation is highly uncertain.
The results of any audits or reviews of sampling
techniques and data.
No Project-specific external audits or reviews have been
undertaken.
Neither GSWA nor FMG report the measures taken to
ensure sample security.
JORC Table: Section 2 – Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and
land tenure status
Type, reference name/number, location and ownership
including agreements or material issues with third parties
such as joint ventures, partnerships, overriding royalties,
native title interests, historical sites, wilderness or
national park and environmental settings.
BUX have a 100% interest in granted Exploration License
E69/4182, and applications E69/4283 & L69/66 (for the
purpose of a road) which together form the Madman
Project.
No royalties encumber these tenements.
The Project lies within the Birriliburu Determination
Area. The Birriliburu Native Title Holders hold native title
rights to the Determination Area including the right to
possess, occupy, use and enjoy the land and waters of
the Determination Area to the exclusion of all others.
Mungarlu Ngurrarankatja Rirraunkaja (MNR) Aboriginal
Corporation is the RNTBC for this Determination. Central
Desert Native Title Services (CDNTS) is authorised by
MNR to act as its agent in the administration and
implementation of agreements with exploration
companies. Buxton has executed a Land Access
Agreement with the MNR via CDNTS.
Exploration done by
other parties
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The security of the tenure held at the time of reporting
along with any known impediments to obtaining a licence
to operate in the area.
Acknowledgment and appraisal of exploration by other
parties.
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A review of the Department of Planning, Lands and
Heritage (DPLH) online ACHIS identified no Aboriginal
sites or places within the Project area.
The tenement is in good standing with DEMIRS and there
are no known impediments for exploration on this
tenement.
Several exploration parties have held portions of the area
covered by BUX tenure previously, however the only
substantive / relevant work was by AusQuest Ltd, who
flew an airborne magnetic survey at 200 m line spacing
in 2021 over E69/3664. The lines were oriented 033-121,
approximately normal to the geological strike. This data
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remains confidential; however, the results of inversion
modelling and interpretation was reported (WAMEX
A126074).
Geology
Deposit type, geological setting and style of
mineralisation.
No on-ground exploration for Cu/Au has been
undertaken.
The Madman Project is situated within rocks assigned to
Oldham Inlier which, together with the Ward Inlier, form
basement highs exposing Collier Basin units in the
northwestern part of the Officer Basin.
These unconformity-bounded inliers of older, deformed
rocks are onlapped-by or faulted-against the virtually
undeformed Neoproterozoic sedimentary rocks of the
Sunbeam Group and the overlying Boondawarri
Formation of the northwest Officer Basin (Bagas et al.,
1999).
Isolated exposures of Cretaceous rocks of the Canning
Basin cover these older successions which are in turn
covered by the active dune system of the Gibson Desert.
The Meso-Proterozoic rocks in the Oldham Inlier consist
of well-indurated sandstone with lenses of siltstone,
shale, and conglomerate, which were initially mapped as
the Cornelia Sandstone (Brakel and Leech, 1980) or
Cornelia Formation (Williams, 1992, 1995a). Hocking et
al. (2000 a,b) redefined and subdivided the Cornelia
Formation into the steeply dipping Cornelia Sandstone,
the steeply dipping shaly Quadrio Formation, and the
moderately folded Oldham Sandstone.
Exploration at the Madman Project is focussed on a
Havieron look-a-like magnetic anomaly. Supporting the
prospectivity of this feature are reports of alteration,
vein-style mineralisation (hosting gold) and pathfinder
geochemical anomalism arising from GSWA’s mapping,
stratigraphic drilling and regolith sampling 1996-2002 at
the nearby Quadrio Lake and associated occurrences and
from the GSWA Trainor 1 stratigraphic drillhole.
The Project lies along the Marloo Fault, a major
transcrustal structure which extends & links with the
Vines Fault. Together these structures define the
Western margin of the Paterson Orogen.
Drill hole Information
A summary of all information material to the
understanding of the exploration results including a
tabulation of the following information for all Material
drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above sea
level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
The shallow depth of the magnetic inversion model
suggests that a relatively inexpensive exploration
program could be undertaken to test this target.
FMG provide drillhole information in WAMEX A115509
and related statutory technical reports.
The samples presented in this report come from GSWA
Trainor 1, with coordinates in GDA2020, MGA zone 51S.
Hole ID East (m) North (m) RL (m) TD (m) Dip Azi
GSWA
473780 7287555
Trainor 1
455
709 -90 360
o hole length
If the exclusion of this information is justified on the basis
that the information is not Material and this exclusion
does not detract from the understanding of the report,
the Competent Person should clearly explain why this is
the case.
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Data aggregation
methods
In reporting Exploration Results, weighting averaging
techniques, maximum and/or minimum grade truncations
(e.g. cutting of high grades) and cut-off grades are usually
Material and should be stated.
Where aggregate intercepts incorporate short lengths of
high grade results and longer lengths of low grade results,
the procedure used for such aggregation should be stated
and some typical examples of such aggregations should
be shown in detail.
The assumptions used for any reporting of metal
equivalent values should be clearly stated.
No data aggregation methods have been applied.
Relationship between
mineralisation widths
and intercept lengths
These relationships are particularly important in the
reporting of Exploration Results.
If the geometry of the mineralisation with respect to the
drill hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are
reported, there should be a clear statement to this effect
(eg ‘down hole length, true width not known’).
The basis of reporting assay results is described above.
GSWA and FMG sampling of GSWA Trainor 1 was highly
selective and the results presented are not
representative of the entire hole.
Diagrams
Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported. These should include,
but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Where comprehensive reporting of all Exploration Results
is not practicable, representative reporting of both low
and high grades and/or widths should be practiced to
avoid misleading reporting of Exploration Results.
See text and figures in body of release.
Balanced reporting
The reporting presented in this Release is intended to
demonstrate the presence of mineralisation styles
supporting the target deposit model. The data sources
are open file and referenced below such that the
sampling can be independently verified.
All exploration data which may be meaningful and
material to the interpretation of the drilling results is
presented within this release.
Other substantive
exploration data
Other exploration data, if meaningful and material,
should be reported including (but not limited to):
geological observations; geophysical survey results;
geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or contaminating
substances.
Further work
The nature and scale of planned further work (e.g. tests
for lateral extensions or depth extensions or large-scale
step-out drilling).
See text and figures in body of release.
Diagrams clearly highlighting the areas of possible
extensions, including the main geological interpretations
and future drilling areas, provided this information is not
commercially sensitive.
See figures in body of release.
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Cautionary Note Regarding Forward-Looking Information
This Announcement contains forward-looking statements and forward-looking information within the
meaning of applicable Australian securities laws, which are based on expectations, estimates and
projections as of the date of publication. This forward-looking information includes, or may be based
upon, without limitation, estimates, forecasts and statements as to management’s expectations with
respect to, among other things, the timing required to execute the Company’s programs, and the
length of time required to obtain permits, certifications and approvals.
Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, "should", "intend",
“may” and similar expressions have been used to identify such forward-looking information. Forwardlooking information is based on the opinions and estimates of management at the date the
information is given, and on information available to management at such time. Forward-looking
information involves significant risks, uncertainties, assumptions, and other factors that could cause
actual results, performance or achievements to differ materially from the results discussed or implied
in the forward-looking information. These factors, including, but not limited to, fluctuations in
currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient
capital on favourable terms or at all, changes in national and local government legislation, taxation,
controls, regulations, political or economic developments in Australia or other countries in which the
Company does business or may carry on business in the future, operational or technical difficulties in
connection with exploration or development activities, employee relations, the speculative nature of
mineral exploration and development, obtaining necessary licenses and permits, contests over title
to properties, especially title to undeveloped properties, the inherent risks involved in the exploration
and development of mineral properties, the uncertainties involved in interpreting drill results and
other geological data, environmental hazards, industrial accidents, limitations of insurance coverage
and the possibility of project cost overruns or unanticipated costs and expenses, and should be
considered carefully. The information and data used in this Announcement was provided by various
sources, including third parties. It is presented "as is" and may not be completely accurate or reliable.
Investors are advised to independently verify the data and seek expert advice before making decisions
based on it.
Many of these uncertainties and contingencies can affect the Company’s actual results and could
cause actual results to differ materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, the Company. Prospective investors should not place undue
reliance on any forward-looking information. Although the forward-looking information contained on
in this Announcement is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure prospective purchasers that actual results will
be consistent with such forward-looking information, as there may be other factors that cause results
not to be as anticipated, estimated or intended, and neither the Company nor any other person
assumes responsibility for the accuracy and completeness of any such forward-looking information.
The Company does not undertake, and assumes no obligation, to update or revise any such forwardlooking statements or forward-looking information contained herein to reflect new events or
circumstances, except as may be required by law. No stock exchange, regulation services provider,
securities commission or other regulatory authority has approved or disapproved the information
contained in this Announcement.
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Martin, DMcB, Murdie, R, Kelsey, DE, Quentin de Gromard, R, Thomas, CM, Cutten, HN, Zhan, Y,
Lu, Y, Haines, PW and Brett, J, 2022, Compilation and geological implications of the major crustal
boundaries map and 3D model of Western Australia: GSWA, Record 2022/7, 49p.
i
Jackson, D & Balodis, R, 2022, Madley 1 Project, E69/3664 Annual Report for the Year Ending 13
November 2021, AusQuest Limited, WAMEX report A129438, 14p.
ii
Hocking, RM, Pirajno, F, Iizumi, S, Morris, PA, 2001, Barium - gold mineralization at Quadrio Lake,
Oldham Inlier, Little Sandy Desert, Western Australia, Article, GSWA Annual Review 1999-2000. 8p.
iii
Stevens, MK, and Adamides, NG, 1998, GSWA Trainor 1 well completion report, Savory Sub-basin,
Western Australia, with notes on petroleum and mineral potential: Western Australia Geological
Survey, Record 1996/12, 69p.
iv
Fortescue Metals Group, 2022, Boondawari 1 & GSWA Trainor 1; Whole Rock Geochemistry Data,
WAPIMS Record G004248 A1 (csv file).
v
vi
GSWA, 2022, Mineralogy Summary for drillhole GSWA Trainor 1, WAPIMS Hylogger Record
Hocking RM & Pirajno F, 2000, Qu
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