Beacon Minerals Limited (ASX: BCN) has announced a significant milestone in the development of its Lady Ida Project, with primary approvals received for Stage 1 of the Iguana Deposit. Beacon Minerals is focused on gold exploration and production in Western Australia. The company is advancing its projects in the Kalgoorlie region. The Department of Mines, Petroleum and Energy (DMPE) has granted approval for the Mining Proposal and Closure Plan, marking a critical step forward. This follows the previously secured Native Vegetation Clearing Permit, approved on June 14, 2025. Beacon Minerals can now proceed with Safety Regulation System approval.
The approvals enable the commencement of MON 1 and MON 2 notifications, formalizing Beacon as the mine operator and covering non-exploration operations at Iguana. The company anticipates these processes will take approximately six to eight weeks. In parallel with these developments, Beacon’s Board has committed to a five-year resource development strategy for the Iguana Deposit, primarily focused on converting Inferred Mineral Resources to Indicated Resources. This strategy involves an extensive drilling program of 200,000 metres of Reverse Circulation (RC) drilling and 10,000 metres of Diamond (DD) drilling.
To support this ambitious plan, Beacon Minerals is increasing its personnel. The FY 2026 resource development plan includes 40,000 metres of RC drilling and 2,000 metres of DD drilling, commencing in early October 2025. Furthermore, the board has committed to plant optimisation works, including the appointment of a Construction Manager and the commencement of civil works. The Iguana Grade Control program is progressing, with final assay results expected by mid-September 2025. The Laterite Ore Reserve estimate is anticipated by late-September 2025.
Beacon expects an updated Mineral Resource Estimate for Iguana by late-October 2025, followed by an updated Ore Reserve estimate by late-November 2025. According to Beacon Minerals Executive Chairman and Managing Director Graham McGarry, DMPE’s approval of the Mining Proposal and Closure plan marks a major milestone in the Lady Ida Project’s development. He expressed confidence and excitement as the company prepares for ground-disturbing activities in early November 2025, targeting first gold production early next year.
