Beacon Minerals Limited (ASX: BCN) has announced the completion of Stage 2 laterite and infrastructure drill programs at the Lady Ida-Iguana Deposit, located north of the Jaurdi Mining Centre. The Stage 2 laterite drill program comprised 215 air core holes, totaling 2,572 meters, aimed at identifying extensions of laterite mineralization at the Iguana deposit and infilling the current grid to provide 50m-spaced drill lines. An infrastructure drill program, consisting of 12 holes for 687 meters, was also completed to sterilize the Iguana Stage 1 workshop and infrastructure areas.
The company is awaiting final data and QA/QC results from both Stage 1 and Stage 2 laterite air core and grade control RC drill programs, with results expected in mid to late June 2025. Preliminary results from Stage 1 have identified potential zones of near-surface gold mineralization, open to the north, requiring further drill testing to determine their extent. The current grid at the Iguana deposit has a line spacing of 100m-spaced traverses with 25m-spaced drill holes along the lines.
The Lady Ida Project, consisting of multiple tenements, is subject to an Earn-In, JV, and Tenement Transfer Agreement. Beacon Minerals aims to commence mining operations at the Lady Ida – Iguana Deposit in 2026. Beacon had previously announced their acquisition of an interest in the Lady Ida Gold Project on December 6, 2023, and the completion and appointment of a new director on September 4, 2024. The company cautions that exploration for minerals is a high-risk business and that forward-looking statements are subject to various uncertainties and risks.
