Beacon Minerals Limited (ASX: BCN) has announced that it has purchased the MacPhersons Reward Gold Project, in a $14 million cash deal with Primary Gold that the company describes as an “important strategic opportunity” to optimise value of existing infrastructure at its nearby Jaurdi Gold Project.
The 21km² project, located 45km southeast of Jaurdi and 5km from Coolgardie in Western Australia, sits on 6 granted + 2 pending mining leases, along with nine prospecting + 3 miscellaneous licenses.
“This is a pivotal transaction that will significantly increase the mine life at the Jaurdi Gold Project”
The project encompasses four separate mineral resources, including JORC 2012, and non‐JORC compliant resources at the MacPhersons Reward and Tycho project areas, both of which are situated within granted mining permits.
Studies carried out in 2017 and 2020 delivered positive results for the possibility of open put mining, with the use of third-party toll milling facilities.
Extensive history of gold production at Macphersons Reward
The historical Macphersons Reward area was identified in 1894 by Scottish immigrant John McPherson, and has since passed through the hands of multiple owners including Elders Resources and Belgravia Resources, with sporadic gold production over a series of decades.
The project area was famously the location of Bill Powell’s gold discovery in 1983, which saw the prospector use a front-end loader and metal detectors to attack an accidental gold discovery later dubbed Powell Reef.
Beacon Minerals Chairman & Managing Director Graham McGarry said: “The assets are in close proximity to Beacon’s Jaurdi Gold Project with all the key mining operations and identified ore bodies located within 45km of the Jaurdi Mill. This is a pivotal transaction that will significantly increase the mine life at the Jaurdi Gold Project.”
Images: Beacon Minerals Limited