Beacon Minerals Limited (ASX:BCN) Commences Drilling at Lady Ida Iguana Deposit
Drilling Program Initiated
Beacon Minerals Limited (ASX: BCN) has commenced an eight-hole diamond drill program at the Lady Ida Iguana Deposit. This project aims to provide crucial core samples for geotechnical assessments, geological evaluation, and metallurgical testwork.
Program Overview
The drill program will strategically target known mineralization zones below the existing Jamaican Rock Pit at the Iguana deposit. The results are expected to be available in the second quarter of calendar year 2025. Drilling is anticipated to take approximately four weeks to complete.
Contract Details
The drilling contract has been awarded to Terra Drilling Pty Ltd, a local contractor. This initiative follows Beacon’s recent JORC Mineral Resource Estimate announcement for the Iguana Deposit, highlighting a substantial 17 million tonne resource.
Executive Insights
Graham McGarry, Beacon Minerals’ Executive Chairman and Managing Director, stated, “The start of this phase of mine development drilling at the Iguana deposit provides an exciting opportunity for Beacon to aggressively advance the project. This drill program will provide essential information for the final open pit designs and valuable information on the characteristics of the deeper mineralised zones.”
About the Lady Ida Project
The Lady Ida Project encompasses multiple mining tenements, with the Iguana Deposit located on M16/262. The project continues to evolve under various agreements and joint ventures aimed at resource development.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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