Beacon Pays $1.4M to Acquire Wealth of Nations Gold Tenements Near Jaurdi

Beacon Exercises Option on Historic Gold Tenements

Beacon Minerals Limited (ASX, BCN) has taken a decisive step in expanding its gold exploration footprint by exercising its option agreement to acquire the Wealth of Nations tenements. Located just 11 kilometres northwest of Beacon’s existing Jaurdi processing plant in Western Australia, the acquisition consolidates a strategic position in a historically productive gold district.

The deal involves payments totaling AUD 1.4 million plus reimbursements for mining expenses incurred by Corinthian Mining Pty Ltd, the current tenement holder. In addition, Beacon has agreed to a 4% net smelter royalty payable to Corinthian once production from the project exceeds 7,000 ounces of gold, aligning incentives for both parties as the project advances.

Drill Program Validates Historical Data

During the 90-day option period, Beacon completed an 11-hole reverse circulation drill program designed to verify historical non-JORC drill results. The assays revealed several zones of significant high-grade gold mineralisation, including standout intercepts such as 1 metre at 10.7 grams per tonne from 52 metres and 5 metres at 7.9 grams per tonne from 48 metres. These results provide encouraging confirmation of the deposit’s potential and underpin the company’s confidence in advancing the project.

Beacon’s Managing Director and Executive Chairman, Graham McGarry, highlighted the importance of these findings, noting that the Wealth of Nations project is situated on approved mining leases with a history of production. The company plans to conduct further reverse circulation drilling to expand the understanding of the mineralisation and to deliver a maiden JORC-compliant Mineral Resource Estimate by the third quarter of fiscal 2026.

Strategic Fit and Future Prospects

The proximity of the Wealth of Nations tenements to Beacon’s Jaurdi processing plant offers operational synergies that could streamline future development and production. The acquisition is funded from Beacon’s existing cash reserves, reflecting a measured approach to growth without immediate capital raising.

While the true widths of the mineralised zones remain to be confirmed, and the quality of historical data requires ongoing verification, the initial drilling results provide a solid foundation for resource definition. The royalty agreement introduces a long-term financial consideration that will need to be factored into project economics as development progresses.

Beacon’s methodical due diligence and phased exploration strategy suggest a disciplined approach to unlocking value from this historic gold district. Investors will be watching closely as the company moves toward its maiden resource estimate and further drilling campaigns.