Beacon Minerals (ASX:BCN) has announced an upgrade to the mineral resource estimate for the Iguana deposit, situated within its Lady Ida Project in Western Australia. The updated resource now stands at 1.2 million tonnes grading 0.92 grams per tonne of gold, containing a total of 36,000 ounces of gold. Within this resource, 1.1 million tonnes at 0.95 grams per tonne, accounting for 33,000 ounces, are classified in the measured and indicated categories. The company is focused on exploring, developing, and pursuing opportunities on its path to becoming a profitable mineral producer. Beacon Minerals is a gold-focused explorer based in the Eastern Goldfields of Western Australia.
The resource estimate is underpinned by data from 852 aircore drillholes, 1,438 reverse circulation (RC) drillholes, 38 diamond drillholes, 1,663 rotary air blast drillholes, and four RC drillholes with diamond tail extensions. According to Managing Director Graham McGarry, the mineralisation style and distribution at Iguana are conducive to low-cost mining operations, which stands to benefit the project’s future development.
Beacon Minerals anticipates releasing an ore reserve estimate for the Iguana Laterite deposit at Lady Ida in the second quarter of FY2026. McGarry stated that the company intends to issue an updated in-situ mineral resource estimate during the same period.
The announcement coincides with the Diggers & Dealers Mining Forum held in Kalgoorlie, Western Australia. Beacon Minerals is an exhibitor at the event.
