Buchanan joined Chiefs from Bloemfontein Celtic last season and has failed to make an impact at Amakhosi.
The midfielder struggled with injuries in his first season at Amakhosi, while he has had to watch Pule Ekstien and George Maluleka from the bench this season.
“His agent is working on getting him a loan deal,” a source close to the player was quoted as saying by Isolezwe.
“It is clear that he might not play again this season at Chiefs. I am not sure yet which team his agent is talking to about a loan deal, but it could happen in January.”