Mining Timetable Hinges on June Assay Results at Lady Ida Gold Project
Beacon Minerals has completed a major drilling campaign at its Lady Ida Iguana Deposit, revealing promising near-surface gold zones and setting the stage for mining to begin in 2026.
- Stage 2 laterite air core drilling completed with 215 holes over 2,572 metres
- Infrastructure sterilisation drilling conducted with 12 holes totaling 687 metres
- Preliminary results indicate potential near-surface gold mineralisation open to the north
- Final assay results expected mid to late June 2025
- Mining at Lady Ida Iguana Deposit planned to commence in 2026
Beacon Minerals’ Strategic Drilling Campaign
Beacon Minerals Limited (ASX, BCN) has successfully completed two significant air core drilling programs at its Lady Ida Iguana Deposit, located north of the Jaurdi Mining Centre in Western Australia. The Stage 2 laterite drill program, comprising 215 holes over 2,572 metres, was designed to extend and infill the existing grid of gold mineralisation, while a separate sterilisation program drilled 12 holes totaling 687 metres to assess the footprint of planned infrastructure.
Exploring the Laterite Gold Potential
The initial Stage 1 drilling had already identified promising zones of near-surface gold mineralisation within the laterite profile. Building on this, the Stage 2 program focused on tightening the drill spacing to 50 metres along 11 additional lines, aiming to better define the extent of the mineralised laterite. Early indications suggest that these gold-bearing zones remain open to the north, highlighting the potential for further resource expansion.
Infrastructure and Project Development
Alongside exploration, the sterilisation drilling around the proposed workshop and infrastructure areas ensures that these zones are free of economic mineralisation, allowing for unhindered development. This step is critical to streamline the transition from exploration to mining operations.
Looking Ahead to Mining
Beacon Minerals anticipates receiving final assay results from both the Stage 1 and Stage 2 drilling programs by mid to late June 2025. These results will be pivotal in confirming the resource potential and informing mine planning. The company is targeting to commence mining activities at the Lady Ida Iguana Deposit in 2026, marking a significant milestone in advancing this gold project.
Context Within the Lady Ida Project
The Iguana Deposit forms part of the broader Lady Ida Project, which includes multiple tenements under an earn-in and joint venture agreement involving Beacon Mining Pty Ltd, Lamerton Pty Ltd, and Geoda Pty Ltd. This collaborative framework underpins the project’s development strategy and resource consolidation efforts.
As Beacon moves closer to production, the market will be watching closely for the upcoming assay results and any updates on project financing and development timelines.
Bottom Line?
With drilling complete and mining on the horizon, Beacon Minerals is poised for a pivotal year at Lady Ida.
Questions in the middle?
- What will the final assay results reveal about the grade and extent of gold mineralisation?
- How will the company finance the transition from exploration to mining operations?
- What are the potential risks or delays that could impact the planned 2026 mining start?
