Beacon Minerals Limited (ASX: BCN), an Australian gold explorer and producer with operations and projects primarily located in Western Australia, announced on 11 August 2026 the final assay results from its FY2026 Resource Development diamond drilling program at the Iguana deposit, part of the Lady Ida Project. The targeted drilling aimed to improve geological interpretation of key mineralisation zones. Significant intercepts were reported, with hole 26IGDD0010 notably yielding 13.3 metres at 16.32 grams per tonne gold from 76.2 metres and 5.0 metres at 8.78 grams per tonne gold from 32 metres.
Further encouraging results included 7.0 metres at 5.01 grams per tonne gold from 63.5 metres in hole 26IGDD0014, and 2.0 metres at 11.48 grams per tonne gold from 120 metres in hole 26IGDD0016. This diamond drilling program complemented Beacon’s extensive reverse circulation drilling efforts by providing continuous core for detailed geological, structural, and geotechnical assessments. The program confirmed the presence of two distinct mineralisation styles within the Iguana deposit: an early-stage, sulphide-rich gold mineralisation where quartz is notably absent, and a later-stage quartz-fuchsite mineralisation which locally contains coarse visible gold.
Graham McGarry, Beacon Minerals Executive Chairman and Managing Director, commented that the diamond program has significantly enhanced their understanding of the Iguana gold system. He stated that while reverse circulation drilling was instrumental in resource definition, diamond drilling provided critical detailed information to refine the geological model and improve understanding of controls on high-grade mineralisation. The results from this drilling are crucial and will be incorporated into the company’s updated Mineral Resource Estimate, planned for release in Q1 FY26/27, further supporting future mine planning and the development of the Lady Ida Project.
