Beacon Minerals Limited (ASX: BCN) has announced an encouraging update on its recent exploration programs at the Lost Dog and Stockdale Prospects.
The company reported that the final RCGC program in the north west of Mining Panel 1 at Lost Dog has yielded better than expected results.
Significant hits include 9 metres @ 5.14 g/t Au from 8 metres; 7 metres @ 4.51 g/t Au from 14 metres; 10 metres @ 3.94 g/t Au from 12 metres; and 13 metres @ 4.92 g/t Au from 9 metres.
The company said that the aircore drilling at Stockdale intersected narrow zones of mineralisation including 5 metres @ 0.65 g/t Au from 32 metres and 4 metres at 1.78 g/t Au from 52 metres.
Beacon Minerals reported that the air core drilling west of Lost Dog has resulted in significant intercepts including 3 metres @ 2.20 g/t Au from 8 metres; 6 metres @ 0.79 g/t Au from 9 metres; and 6 metres @ 0.62 g/t Au from 9 metres.
The company announced that the air core drilling of the palaeodrainage system east of Lost Dog on E15/1582 has intersected highly anomalous intercepts.
Jaurdi gold project
Beacon’s 100%-owned Jaurdi gold project is located 35 kilometres north west of Coolgardie in Western Australia.
The Company had executed an exclusive option to purchase the Jaurdi Gold Project comprising Mining Lease M16/529 from Fenton and Martin Mining Developments Pty Ltd in January 2017.
Some of the prospects at the Jaurdi project are Stockdale tenement and the prospecting licenses P16/2925 and P16/2926.
Two exploration campaigns completed
The company reported that two exploration campaigns were completed which included aircore drilling on the Jaurdi leases and a first pass aircore program at the Stockdale Prospect.
Lost Dog grade control
Beacon said that it has also completed a final round of grade control drilling in Panel 1 at the Lost Dog mine which resulted in better than expected grades and depths of mineralisation as defined by the July 2017 Mineral Resource.
The company reported that the small grade control programme was completed in the north west corner of Mining Panel 1 at Lost Dog. A total of 55 holes (LDGC344 to 398) for 1,234 metres was completed in October 2019.
Results better than expected
The company reported that results were encouraging with some better than expected. Significant results include: LDGC353: 9 metres @ 5.14 g/t Au from 8 metres, LDGC356: 7 metres @ 4.51 g/t Au from 14 metres, LDGC357: 10 metres @ 3.94 g/t Au from 12 metres, LDGC358: 13 metres @ 4.92 g/t Au from 9 metres, LDGC359: 14 metres @ 5.92 g/t Au from 8 metres, and LDGC394: 6 metres @ 6.05 g/t Au from 12 metres.
Drilling at Stockdale
The company had recently completed an aircore drill program at the Stockdale prospect consisting of 66 holes for 2,518 metres (SAC001 to 066).
Encouraging results
BCN reported that two of the holes intersected significant mineralisation; SAC014: 5 metres @ 0.65 g/t Au from 32 metres; and SAC041: 4 metres at 1.78 g/t Au from 52 metres.
Drilling at Jaurdi East
Beacon said that the palaeo‐drainage system, as defined by the VTEM imagery and previous drilling, was further tested to the east of the Lost Dog deposit.
Two traverses
The company said that two lines of aircore were completed, the first in the far east of E16/469 and the second the far west of E15/1582.
BCN said that a total of 41 holes (LDW105 to 145) for 1,606 metres of aircore was drilled.
Beacon said that the main palaeochannel was identified on both traverses and significant water inflows were also identified on both traverses.
E15/1582 returns anomalous gold
The company said that the aircore traverse within E15/1582 returned anomalous gold, while the traverse within the far eastern parts of E16/469 was completely barren.
The company noted that the fact that anomalous gold is again picked up in the E15/1582 traverse may indicate re‐introduction of gold into the palaeo drainage system within E15/1582, potentially from a different source to that supplying the Lost Dog gold‐mineralised system.
BCN reported that the best results from the E15/1582 traverse include 4 metres at 0.39 g/t Au (LDW134) from 20 metres and 1 metre at 0.46g/t Au from 30 metres (LDW139).
The company said that further exploration will be completed within the central and eastern parts of E15/1582, which are close to the extensive Kunanalling mining centre.
Drilling at west of Lost Dog
Beacon Minerals reported that the air core drilling west of Lost Dog has resulted in significant intercepts. Highlights include 3 metres @ 2.20 g/t Au from 8 metres; 6 metres @ 0.79 g/t Au from 9 metres; 6 metres @ 0.62 g/t Au from 9 metres; and 5 metres @ 1.23 g/t Au from 12 metres.
Next steps
BCN said that an update of the Lost Dog Mineral Resource will be completed in the first half of 2020 to include the October 2019 RCGC drilling results and the aircore drilling results extending the Lost Dog mineralisation to the west.
Beacon said that further work at the Stockdale Prospect will include obtaining one metre assay splits of the significant mineralisation encountered in the AC drill program. The company said that a further drill program at the Stockdale Prospect is being reviewed by their geological consultants.
The company said that further exploration work is currently under consideration, the details of which will be released later.
Management comments
Beacon’s Managing Director Graham McGarry said: “This is all part of the on‐going Beacon Minerals exploration program. Whilst it is early days we are encouraged by the results of the reconnaissance drilling in the Eastern tenement area.
The Company continues to review the results and is planning the next exploration program.”