IGO Increases Stake in Buxton Resources' Copper Wolf Project with A$5.35 Million Commitment

About Buxton Resources Limited

Buxton Resources Limited (ASX: BUX) is an Australian exploration company focused on high-grade base metals. Its Copper Wolf Project in Arizona, USA—a large-scale porphyry copper-molybdenum system—is being advanced in partnership with IGO Limited (ASX: IGO), a leading ASX-listed miner specialising in clean energy metals.

Exploration Momentum and High-Grade Potential

The Copper Wolf Project has rapidly gained prominence following a series of exceptional drill results reported in late 2023. Among the most significant findings was an intersection of 405.38 metres grading 0.35% copper and 0.05% molybdenum, which has confirmed the presence of a substantial mineralised porphyry system. These results compare favourably with some of the world’s most productive copper deposits, strongly suggesting the project’s potential to evolve into a tier-1 mining asset.

Moving forward, the joint venture’s 2025 exploration program will prioritise advanced geophysical surveys designed to identify deeper, high-grade mineralisation. This systematic approach benefits enormously from IGO’s technical expertise in large-scale resource development, ensuring exploration efforts are both efficient and substantially de-risked. The partnership allows for optimal utilisation of cutting-edge exploration technologies and methodologies.

Beyond the immediate joint venture tenements, Buxton maintains complete ownership of an additional 30.5 square kilometres of highly prospective land. This includes three particularly promising areas: the Wolverine, Sun Devil and Aztecs prospects. While these zones remain largely untested, they exhibit compelling geological indicators of additional mineralisation. These surrounding tenements represent significant upside potential for Buxton shareholders, offering exciting standalone discovery opportunities outside the current joint venture framework.

IGO’s decision to commit A$5.35 million over the next three years represents a resounding vote of confidence in the Copper Wolf Project’s economics. By leveraging IGO’s considerable financial strength and world-class technical expertise, Buxton gains exposure to a high-impact exploration program without bearing any of the associated costs. This partnership dramatically reduces exploration risk while maintaining full upside potential. Equally important is the enhanced market credibility that comes with IGO’s increased involvement, which clearly signals to the market that Copper Wolf represents a serious copper prospect. This endorsement will likely attract further institutional interest and analyst coverage.

With copper prices expected to strengthen considerably amid looming supply deficits and rapidly rising demand from renewable energy infrastructure projects worldwide, the successful development of Copper Wolf could materially enhance Buxton’s valuation. The project’s timing appears excellent given these favourable market fundamentals.

The global copper market is entering a period of structural tightness that analysts expect to persist for years. This supply-demand imbalance is being driven by three powerful megatrends: the accelerating adoption of electric vehicles, massive investments in renewable energy projects worldwide, and the explosive growth of AI-related infrastructure. In this context, projects with both scale and grade, such as Copper Wolf, are likely to attract significant attention from major producers and strategic investors alike.

Looking Ahead

For Buxton shareholders, the implications of these developments are clear and compelling. Most fundamentally, IGO’s increased stake provides independent validation of Copper Wolf’s technical and economic merits from an experienced industry player. The A$5.35 million funding commitment ensures exploration continuity without requiring any shareholder dilution, providing exceptional funding security. Perhaps most exciting is the future optionality this creates – a major discovery could lead to further joint venture expansions, premium offtake agreements, or even transformative corporate action. The stage is set for an exciting period of value creation.