Beacon Minerals Unveils High-Grade Gold Zones at Iguana Deposit
Beacon Minerals has confirmed extensive high-grade gold mineralisation at its Iguana deposit within the Lady Ida Project, following a 201-hole drilling program. The results bolster confidence in the Stage 1 Pit mining inventory and set the stage for further exploration.
- 201 reverse circulation drill holes completed, totaling 10,854 metres
- High-grade gold intercepts up to 42.65 g/t confirmed in-situ and in lateritic material
- Drilling enhances geological confidence in Iguana Stage 1 Pit mining inventory
- Second phase of grade control drilling scheduled for July 2025
- Mineralisation hosted in structurally complex Mount Ida Greenstone Belt
Beacon Minerals Advances Lady Ida Project
Beacon Minerals Limited (ASX, BCN) has reported compelling results from its recent grade control drilling campaign at the Iguana deposit, part of the broader Lady Ida Project in Western Australia. The company completed 201 reverse circulation drill holes, covering over 10,800 metres, targeting the Stage 1 Pit mining inventory.
The drilling program has confirmed extensive zones of high-grade gold mineralisation, both within the primary in-situ rock and the near-surface lateritic material. Noteworthy intercepts include 11 metres at 9.57 grams per tonne (g/t) gold and a standout 2 metres at 42.65 g/t gold, underscoring the deposit's rich potential.
Geological Context and Mineralisation Styles
The Iguana deposit lies within the structurally complex Mount Ida Greenstone Belt, characterized by metamorphosed mafic and ultramafic rocks. Mineralisation is controlled by a combination of structural deformation and hydrothermal alteration, with gold hosted predominantly in a sheared amphibolite facies unit.
Beacon's drilling delineated two distinct mineralisation styles, in-situ mineralisation within altered mafic units featuring quartz veining and sulphides, and lateritic mineralisation occurring as iron pisolite bands near surface. The latter has been historically mined and continues to show promising grades in recent assays.
Implications for Mining and Future Exploration
The positive drilling results significantly enhance geological confidence in the Stage 1 Pit mining inventory, a critical step towards advancing mining studies and resource estimation. Beacon's Executive Chairman and Managing Director, Graham McGarry, highlighted the milestone nature of these results and the ongoing efforts to fully understand the deposit's scale and grade distribution.
Looking ahead, Beacon plans to commence a second phase of grade control drilling in July 2025, aiming to target the remaining portions of the Iguana Stage 1 Pit. This continued exploration will be vital in refining the mineral resource model and supporting potential mining operations.
Compliance and Technical Rigor
The drilling and assay work adhere to rigorous industry standards, including JORC compliance. Samples were collected using reverse circulation methods, with assays conducted by fire assay techniques at accredited laboratories. Quality control measures, including the use of certified reference materials and field duplicates, underpin the reliability of the reported results.
While true widths of mineralisation are yet to be calculated due to evolving geological models, the downhole intercepts provide a robust indication of the deposit's high-grade nature. Metallurgical recovery data remains to be disclosed, representing an area for future technical updates.
Bottom Line?
Beacon Minerals’ latest drilling success at Iguana sets a promising foundation for resource expansion and mining feasibility studies.
Questions in the middle?
- How will the upcoming phase two drilling refine the mineral resource estimate?
- What metallurgical characteristics and recovery rates can be expected from the Iguana ore?
- How might these drilling results influence Beacon Minerals’ project development timeline and financing?