Beacon Minerals (ASX: BCN) has announced an updated Mineral Resource estimate for the Iguana Laterite deposit at its Lady Ida project. Beacon Minerals is an Australian gold exploration and mining company focused on developing projects in Western Australia. The company is pleased to report an increase in the ‘Laterite Only’ Mineral Resource at Iguana to 36,000 ounces of gold.
The JORC Mineral Resource Estimate for the Iguana Laterite Deposit now stands at 1.2 million tonnes at 0.92 g/t Au for 36,000 ounces of gold, using a 0.5 g/t gold cut-off. The resource classification is comprised of 61% Measured, 31% Indicated, and 8% Inferred categories. This includes a total of 1.1 million tonnes at 0.95 g/t Au for 33,000 ounces in the Measured and Indicated categories.
Beacon Minerals Executive Chairman and Managing Director Graham McGarry commented that the mineralisation style and distribution are ideal for low-cost mining, which will further enhance the upcoming development of the Iguana Deposit. He also noted that the company intends to issue an updated ‘In-Situ’ Mineral Resource in Q2 FY2026.
The Iguana deposit is part of the Lady Ida Project and sits on the inferred extension of the Ida Fault. The company expects to release an ore reserve estimate for the Iguana Laterite Deposit in Q2 FY2026.
