Beacon Minerals Limited (BCN.AX) Second Batch of Assay Results at Iguana Deposit

A spectacular 10 metre intersection @ 69.9 g/t gold including an extraordinary 1 metre @ 593.0 g/t

Perth, Aug 18, 2025 AEST (ABN Newswire) - Beacon Minerals Limited (ASX:BCN) is pleased to announce the second batch of assay results from the Stage 2 Grade Control drill program at Lady Ida - Iguana Deposit.

HIGHLIGHTS

- The Stage 2 grade control drill program was drilled to further increase the geological confidence in the Iguana Stage 1 Pit. Beacon has completed a 298 hole, 16,506 metre RC drill program

- Beacon has received the second batch of 3,294 assay results with multiple mineralised zones.

Significant high-grade intersections include:

- 10 metres @ 69.9 g/t gold from 40 metres (IGGC_533)
- Including 1 metre @ 593.0 g/t gold from 41 metres
- Including 1 metre @ 42.1 g/t gold from 42 metres
- Including 1 metre @ 50.2 g/t gold from 45 metres
- 19 metres @ 8.6 g/t gold from 16 metres (IGGC_274)
- Including 1 metre @ 28.6 g/t gold from 17 metres
- Including 1 metre @ 51.2 g/t gold from 24 metres
- 7 metres @ 6.3 g/t gold from 42 metres (IGGC_274)
- Including 1 metre @ 33.5 g/t gold from 47 metres
- 4 metres @ 10.3gold from 17 metres (IGGC_290)
- Including 1 metre @ 32.50 g/t gold from 19 metres
- 6 metres @ 7.6 g/t gold from 26 metres (IGGC_289)
- Including 1 metre @ 25.40 g/t gold from 27 metres
- 2 metres @ 13.1 g/t gold from 28 metres (IGGC_270)
- Including 1 metre @ 25.10 g/t gold from 28 metres
- Beacon is expecting the remaining 10,242 assay results to be received over the next 4 to 6 weeks

Beacon Minerals Executive Chairman and Managing Director Graham McGarry commented:

"These are fantastic results from the first 116 holes. With 4 intercepts greater than 100 g/t, 17 intercepts greater than 20 g/t and 107 intercepts greater than 5 g/t. These high-grade intercepts are interpreted as the Later Stage Quartz-Fuchsite mineralisation.

"Therefore, our confidence and excitement at Iguana continues to grow as we prepare for first production early next year."

Iguana Deposit Overview

The Iguana deposit is a part of the Lady Ida Project, which sits on the inferred extension of the Ida Fault and is a part of the north-south striking Mount Ida Greenstone Belt. It is predominantly metamorphosed (upper greenschist-amphibolite facies) mafic and ultramafic rocks. The complex structural history provides the space for mineralisation deposition. The mineralisation is controlled by structural and hydrothermal alteration.

On the deposit scale the depth of weathering increases significantly within shear zones and reaches depths of 90 m in the centre of the deposit. Supergene gold enrichment is apparent from grade control drilling in the upper portion of the existing Jamaican Rock pit (mined by Delta Gold in 2000) where significantly higher grades were mined compared to the current resource model.

Recent Diamond Drilling has indicated two distinct "In situ" mineralisation styles within the Iguana deposit.

- Early Stage mineralisation

- Dominant mineralisation style of the Iguana deposit

- Sulphide-rich gold mineralisation

- Quartz is notably absent

- Later Stage mineralisation

- Quartz-Fuchsite mineralisation style locally includes coarse visible gold

- Relatively small percentage of Iguana's mineralisation

Lady Ida Iguana Stage 2 Grade Control Drill Program

The Iguana stage 2 grade control drill program was drilled to further increase the confidence in the Iguana Stage 1 Pit. This program was a 298 hole reverse circulation drill program totalling 16,506 metres. The drilling phase of this program is complete. The second batch of 3,294 assay results has been received and Beacon is awaiting the remaining 10,242 assays.

About the Lady Ida Project

The Lady Ida Project consist of M16/262 (the Iguana Deposit is located on M16/262), M16/263, M16/264, L15/224, L16/58, L16/62, L16/103, L16/142 and application L16/138 which is the ground the subject of the Earn-In, JV and Tenement Transfer Agreement between the Company, Beacon Mining Pty Ltd, Lamerton Pty Ltd and Geoda Pty Ltd.

For further details in relation to the Earn-In, JV and Tenement Transfer Agreement for the Lady Ida Project refer to ASX releases dated 6 December 2023 entitled "Beacon to Acquire an interest in the Lady Ida Gold Project" and 4 September 2024 "Lady Ida Completes and Appointment of New Director".

*To view extensive table of results, please visit:
https://abnnewswire.net/lnk/Z7GLO1Q6

About Beacon Minerals Limited

Beacon Minerals Limited (ASX:BCN) is an ASX gold producer based in the Eastern Goldfields of Western Australia. Beacon Minerals has a proven track record of exploration and gold production and is currently a dividend paying gold producer.

  

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