Gervaise Heddle, Non-Executive Chairman of Buxton Resources and former CEO of Greatland Gold, joins StockBox Media to discuss Buxton’s bold exploration strategy and high-impact drill targets.
- High-impact targets in focus: Drilling begins in June at Centurion, a large IOCG copper-gold target with Olympic Dam-scale potential.
- Havieron-style potential at Madman: A magnetic bullseye anomaly under shallow cover presents a compelling target, geophysically similar to Havieron and potentially linked to the same geological event.
- Strategy for scale: Buxton is targeting large geophysical systems from day one, aiming to build a billion-dollar company through early identification of major mineralised systems.
Copper Wolf JV Update
IGO elects to earn another 19% by spending A$5M over 3 years
Buxton Resources Limited (“Buxton”; ASX:BUX & BUXO) hereby provides an update to shareholders in relation to the Copper Wolf Project, in Arizona, USA. IGO Limited (“IGO”) has elected to earn an additional 19% interest, which if completed will bring its stake to 70%, by investing an aggregate A$5.35 million in exploration and development.
Buxton believes that this decision underscores the strategic value of Copper Wolf and represents a major endorsement of the project’s potential by a leading ASX-listed mining company. IGO had previously sole-funded a drilling program that resulted in exceptional intersections of porphyry mineralisation with assay results including 405.38 m @0.35% Cu and 0.05% Mo in CPW002DD and 83.76m @ 0.4% Cu and 0.06% Mo in CPW001DD (ASX 14 Dec 2023).
Building on these successes, the JV operating committee has advised that exploration through to June 2025 is focussed on assessing the feasibility of conducting geophysical surveys to target high-grade porphyry mineralisation at depth. This funding commitment not only advances the technical understanding of the project but also significantly de-risks Buxton’s investment by leveraging IGO’s financial and technical resources.
Buxton maintains a free-carried interest in the JV Tenements through this stage of exploration while retaining a 100% interest in a 30.5 km2 area surrounding the JV Tenements which covers the highly prospective and undrilled extension to the Copper Wolf porphyry system at Wolverine (ASX 11/01/2024 & 1/05/2024) in the East and drilling targets beneath intense veining and alteration at the Sun Devil & Aztecs prospects (ASX 13/02/2024 & 11/03/2024) in the West
