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Beacon Minerals Ltd.
Summary
| Project: | Jaurdi | |
|---|---|---|
| Deposit: | Lost Dog | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-5-2017: Beacon Minerals Ltd. announces a Resource Estimation report for its Lost Dog deposit at the Jaurdi project. Mineral Resource estimate + drilling results incl. 14m @ 6g/t Au. On 10 May 2017 Beacon executed an Option to Purchase Agreement with Mr | |
| Resources: | (Resource, Total): 2.57Mt @ 1.81g/t Au for 149800oz Au contained at Lost Dog | |
| CP/QP: | [Resources]: Richard Finch, Darryl Mapleson (BM Geological Services) | |
| ABSTRACT: | On 10 May 2017 Beacon executed an Option to Purchase Agreement with Mr Steven Argus and Zephyr Mining Pty Ltd, the holders of exploration licence E16/469. E16/469 is located immediately to the east of Beacon’s Mining Lease M16/529 (Figure 1). Beacon will begin a 2,500 metre RC drilling programme to test the potential extension of the orebody onto E16/469 this week. During April 2017, Beacon completed an RC campaign targeting a gravity‐low anomaly. The anomaly was identified by the recent gravity survey over the Lost Dog prospect and is located 200 metres to the North‐East of the previous drilling. A total of 21 RC drill holes was completed for 751 metres, with most drill holes intersecting significant mineralisation in a North‐East trend. Mineralisation in this region remains open in all directions. An increased proportion of clays were identified within this mineralised horizon, with the insitu bulk densities modelled to reflect the increased clay component. In addition to the extensional drilling completed NE of the Lost Dog deposit, Beacon completed an RC infill program reducing the 50 metres North‐South spacing down to 25 metres within the North Central area of the Eastern Arm. Previous drilling in this region had identified significant gold intercepts along strike on this East‐West axis. Beacon has completed a suite of reverse circulation (RC) and diamond core drill holes which have infilled and extended the known mineralisation of the Lost Dog deposit at the Jaurdi Gold Project. This drilling has enabled an update of the Lost Dog JORC 2012 Mineral Resource. | |
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