Beacon Minerals (ASX:BCN) has delivered a maiden ore reserve for the Mt Dimer Project in Western Australia, containing a total of 148,000 tonnes at 4.5 grams per tonne gold for 21,100 ounces.
A maiden resource estimate for the Lightning and Golden Slipper deposits was released in June 2024, which projected an ore reserve at a $3,400 gold price, with gold recoveries of 21,100 ounces expected.
The ore reserve was estimated based upon extraction using conventional open pit mining methods and milling the ore at the Jaurdi CIP processing plant.
Managing Director Graham McGarry says the result is a positive one for shareholders and stakeholders.
“This ore reserve highlights the profitability of these high-grade resources and will complement the current plans Beacon has to grow the mine life of the Jaurdi Gold Project,” he says.
Beacon Minerals, which has a market capitalisation of $90.16 million, says exploration is being planned for Mt Dimer, targeting fault offsets in favourable lithologies, alongside assessing existing soil sampling and drilling for potential mineralisation.
A new target area has been uncovered north of the L01-L03 underground, where there are offsetting faults in favourable geology. This area will be tested in the first quarter of next year.
The Mt Dimer probable ore reserves sit on an approved mining tenement and the project pits are on granted tenements, adjacent to historical open pit operations. Environmental permitting is also being submitted to the DEMIRS and DWER.
The Mt Dimer Project lies in the heart of Western Australia’s Yilgarn Shire. The project area encompasses 13 tenements, including five mining tenements and the Lightning and Golden Slipper deposits.
Beacon Minerals is a gold explorer and mineral based in the Eastern Goldfields region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Beacon Minerals
