Beacon Begins 2,200m RC Drilling Targeting Maiden Resource at Lizard
Beacon Minerals has kicked off its first-ever drilling campaign at the Lady Ida - Lizard Project, aiming to define a maiden resource in the coming quarter. The program targets promising mineralisation with potential for significant extensions.
- Maiden 2,200-metre RC drilling program underway
- Focus on high-potential mineralisation zones at Lizard deposit
- Historic data suggests strong grade consistency and deposit extensions
- Entech commissioned for resource estimation work
- Project part of joint venture and earn-in agreement
Beacon Minerals Commences Maiden Drilling
Beacon Minerals Limited (ASX: BCN) has officially started its inaugural drilling program at the Lady Ida - Lizard Project, marking a significant milestone for the company’s exploration efforts. The program involves 2,200 metres of reverse circulation (RC) drilling, conducted by Kalgoorlie-based JBell Drilling, targeting zones of high potential mineralisation within the Lizard deposit.
Targeting a Maiden Resource
The Lizard deposit, situated south of the Iguana Deposit within the Lady Ida Project, is notable for containing the largest historic open pit in the area. Mineralisation here is closely associated with a sedimentary unit near a basalt-ultramafic contact, exhibiting primarily vertical structures with consistent grades along its strike length. Historical drilling reviews have indicated promising opportunities to extend the deposit both laterally and at depth.
Beacon has engaged Entech to commence resource estimation work, with the objective of delivering a maiden resource estimate for the Lizard deposit in the upcoming quarter. This step is crucial as it will provide a clearer picture of the deposit’s economic potential and guide future development decisions.
Strategic Partnerships and Project Context
The Lady Ida Project encompasses several tenements, including M16/262 where the Iguana Deposit is located, and others under joint venture and earn-in agreements involving Beacon Mining Pty Ltd, Lamerton Pty Ltd, and Geoda Pty Ltd. These partnerships underpin the project’s advancement and reflect a collaborative approach to unlocking value from the region’s gold resources.
Executive Chairman and Managing Director Graham McGarry expressed enthusiasm about the drilling commencement, highlighting the company’s commitment to advancing exploration and resource definition at Lady Ida.
Looking Ahead
While the drilling program is in its early stages, the combination of historical data and targeted exploration strategies positions Beacon Minerals well to potentially expand its resource base. Investors and market watchers will be keenly awaiting assay results and the maiden resource estimate, which will provide critical insights into the project’s viability and future prospects.
Bottom Line?
Beacon’s maiden drilling at Lizard sets the stage for a pivotal resource update in the coming months.
Questions in the middle?
- What initial assay results will reveal about mineral grades and continuity?
- How might the maiden resource estimate impact Beacon’s valuation and development plans?
- What are the timelines and terms of the joint venture and earn-in agreements affecting project advancement?
