Beacon Minerals has completed a major drilling phase at the Lady Ida Iguana Deposit, revealing outstanding high-grade gold results that bolster confidence ahead of production plans. The discovery of a high-grade corridor could reshape the project's economic outlook.
- Completion of 298-hole, 16,506m Stage 2 grade control drilling
- First 2,970 assays show gold grades up to 179 g/t
- High-grade mineralised corridor identified in Northwest Iguana Stage 1 Pit
- Remaining 13,536 assay results pending over next 6–8 weeks
- Follow-up deeper drilling planned to explore high-grade zones
Beacon Minerals Advances Lady Ida Project
Beacon Minerals Limited (ASX – BCN) has announced the completion of its largest reverse circulation (RC) drilling program to date at the Lady Ida Iguana Deposit, part of the broader Lady Ida Project in Western Australia. The Stage 2 grade control program comprised 298 holes totaling 16,506 metres, aimed at enhancing geological confidence in the Iguana Stage 1 Pit ahead of planned production early next year.
Impressive High-Grade Gold Intercepts
The first batch of assay results, covering 2,970 samples, has delivered several remarkable high-grade gold intersections. Notably, one hole returned 5 metres at 39.3 grams per tonne (g/t) gold, including an extraordinary 1 metre at 179 g/t from 49 metres depth. Other significant intercepts include 6 metres at 46.8 g/t and 2 metres at 39.9 g/t gold, underscoring the presence of rich mineralisation zones within the deposit.
Discovery of a High-Grade Corridor
Drilling has delineated a high-grade mineralised corridor in the northwest section of the Iguana Stage 1 Pit. This corridor features multiple mineralised zones with consistent grades well above typical thresholds, suggesting a structurally controlled concentration of gold. Beacon’s Executive Chairman and Managing Director, Graham McGarry, described these findings as a “potential game changer” for the company, highlighting the continuity and exceptional grades as key to de-risking the project.
Geological Complexity and Mineralisation Styles
The Iguana Deposit lies within the structurally complex Mount Ida Greenstone Belt, characterised by metamorphosed mafic and ultramafic rocks. The mineralisation is structurally and hydrothermally controlled, with two distinct styles identified – an early-stage sulphide-rich gold mineralisation and a later quartz-fuchsite style that locally includes coarse visible gold. This geological complexity presents both challenges and opportunities for resource modelling and mining.
Next Steps and Market Implications
Beacon is awaiting the remaining 13,536 assay results, expected over the next 6 to 8 weeks, which will further inform resource updates and mining plans. The company also plans follow-up deeper RC and diamond drilling to explore the high-grade zones identified. These developments are critical as Beacon prepares for first production, potentially early in 2026, positioning the Lady Ida Project as a promising contributor to the company’s growth trajectory.
Bottom Line?
With high-grade gold zones emerging, Beacon Minerals is poised for a pivotal phase as it moves toward production.
Questions in the middle?
- How will the remaining assay results impact the overall resource estimate?
- What are the timelines and scope for the planned deeper drilling programs?
- How might the high-grade corridor influence the mine’s economic viability and production profile?