Beacon Minerals Limited (ASX: BCN), a Western Australian gold exploration company, is pleased to announce the completion of the Stage 2 grade control (GC) drill program at the Lady Ida-Iguana Deposit. Beacon is focused on developing the Jaurdi Gold Project and exploring its extensive tenement holdings. The company completed a 298-hole, 16,506-metre reverse circulation (RC) drill program to further increase geological confidence in the Iguana Stage 1 Pit. The first batch of 2,970 assay results have been received, revealing significant high-grade gold intersections.
Notable results from the assay data include 5 metres at 39.3 g/t gold from 49 metres (IGGC_210), including 1 metre at 179.0 g/t gold from 49 metres, and 6 metres at 46.8 g/t gold from 32 metres (IGGC_219), including 2 metres at 135.5 g/t gold from 32 metres. Additional high-grade intersections were also identified in the Northwest corridor of the Iguana Stage 1 Pit, indicating the potential for a significant mineralised zone. Holes that ended in mineralisation have been re-entered and drilling has been completed.
Beacon Minerals Executive Chairman and Managing Director Graham McGarry commented that the Stage 2 grade control drill program is the largest RC drill program ever conducted by Beacon Minerals. He added that the high grades and strong continuity add to the de-risking process as the company prepares for first production early next year. McGarry stated that the exceptionally high-grade intercepts in the Northwest corridor are a potential game changer for Beacon Minerals, and the company plans to follow up with deeper RC and diamond drill programs.
The company anticipates receiving the remaining 13,536 assay results over the next 6 to 8 weeks. The Iguana deposit is part of the Lady Ida Project, situated on the inferred extension of the Ida Fault within the Mount Ida Greenstone Belt. The mineralisation is controlled by structural and hydrothermal alteration.
