In 1859 Buchanan explored new country with William Landsborough, principally on the tributaries of the Fitzroy River, Queensland, when both suffered many privations and were found just in time by a rescue party. Buchanan then joined Landsborough and others as owners of Bowen Downs Station near Longreach, Queensland, which for a time prospered. However, a time came when cattle were almost unsaleable, and the price of wool dropped so low that the station had to be given up and Buchanan was practically penniless.