Buxton Resources drills EM target at Madman prospect

• Buxton Resources restarted drilling activities at its Madman Project targeting a key off-hole electromagnetic conductor.
• Following the announcement, the Buxton Resources share price was unchanged at $0.036.
• The company aims to test an off-hole conductor modelled approximately 250m north-northeast of its previous drill hole.

Buxton Resources (ASX:BUX) has mobilised McKay Drilling to site and commenced drilling hole MD004DD at its Madman prospect.

The new drilling campaign follows the completion of initial site work and downhole electromagnetic surveys.

"The maiden holes at Madman confirmed the presence of a basement-hosted hydrothermal system with anomalous gold and copper plus alteration, structure and pathfinder signatures consistent with Paterson Orogen-style gold-copper deposits such as Havieron, Winu and Telfer," said Buxton Resources Managing Director Marty Moloney.

Drill hole MD004DD is specifically designed to test an off-hole conductor located 250m north-northeast of hole MD003DD.

Assay results from hole MD003DD are anticipated in October, while heritage notices have been lodged for gravity and electromagnetic surveys.

Following the announcement the Buxton Resources share price was unchanged at $0.036.

The company stated that the maiden drill programme established hydrothermal signatures similar to major regional gold-copper discoveries.