Following a four-hole diamond drilling program, Beacon Minerals (ASX:BCN) has confirmed mineralisation at its Iguana resource within the Lady Ida Project, located along the Mount Ida Greenstone Belt in Western Australia.
Key assays from the program include 5.0m @ 8.78 grams per tonne (g/t) gold (Au) from 32m, 13.3m @ 16.32g/t Au from 76.2m, and 11.45m @ 6.64g/t Au from 93.0m; and 4.0m @ 1.07g/t Au from 35m, 1.0m @ 9.25g/t Au from 47m, and 7.0m @ 5.01g/t Au from 63.5m.
Other significant intercepts yielded 2.0m @ 11.48g/t Au from 120m, 7.0m @ 1.65g/t Au from 152m, and 5.2m @ 2.06g/t Au from 195.5m; and 5.81m @ 0.98g/t Au from 261.39m and 7.70m @ 1.42g/t Au from 272.30m.
The drilling identified visible gold associated with quartz-fuchsite veining and confirmed two distinct mineralisation styles within the deposit.
Executive Chairman and Managing Director Graham McGarry says the program has enhanced Beacon Minerals’ understanding of the Iguana gold system.
“While our extensive reverse circulation drilling has been instrumental in defining the resource, diamond drilling has provided the detailed geological, structural, and geotechnical information required to refine our geological model and improve our understanding of the controls on high-grade mineralisation,” McGarry says.
The diamond drilling marks the final stage of Beacon’s FY2026 resource development drilling at Iguana. Results will be incorporated into an updated geological model and mineral resource estimate planned for Q1 FY2027 to support mine planning and development.
Beacon Minerals is a gold producer and explorer operating primarily in the Eastern Goldfields.
Write to Paula Fabe at Mining.com.au
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