- Beacon Minerals (BCN) has received more high-grades from aircore drilling at the Big Cat and Lynx prospects within its Jaurdi Gold Project in WA
- Grades from Big Cat peaked at 6.52g/t gold while grades from the Lynx prospect peaked at 14.4g/t gold
- Around 10,000 metres of aircore drilling has been completed this quarter with roughly 4000 metres to go
- Additionally, Beacon has now raised $17.6 million since its unfranked dividend of 0.7 cents per share was announced early last month
- Over 683.7 million listed options and 20 million unlisted options have been exercised since then with more than 214.1 million listed options still on issue
- Beacon is up 2.7 per cent and shares are trading at 3.8 cents
Beacon Minerals (BCN) has received more high-grades from aircore drilling at the Big Cat and Lynx prospects which are part of its Jaurdi Gold Project in WA.
The first of seven aircore lines have been completed at the Big Cat prospect with initial composite assay results coming back very encouraging.
Best results include five metres at 2.42g/t gold from 60 metres, eight metres at 6.52g/t gold from 56 metres and two metres at 2.02g/t gold from 60 metres.
Drilling at Big Cat will continue for the rest of the month and through to April which is aimed at testing more than 500 metres of potential strike.
Last month, Beacon completed 2100 metres of infill aircore drilling at the Lynx prospect.
Best results include six metres at 3.11g/t gold from 29 metres including one metre 14.4g/t gold from 29 metres, two metres at 2.54g/t gold from 36 metres including one metre at 4.62g/t gold from 36 metres and seven metres at 2.26g/t gold from 36 metres.
Pleasingly, drilling identified a broader zone of mineralisation and follow-up drilling is planned for the June quarter.
Overall, 10,000 metres of its planned 14,000-metre aircore drilling program has been completed this quarter. An airborne magnetic survey at Jaurdi Hills is also expected to begin in the next few days.
In addition, Beacon has issued a further 156,677,635 listed options. The company has now raised $17.6 million through the exercise of options.
Since Beacon announced its unfranked dividend of 0.7 cents per share last month, 683,726,974 listed options and 20 million unlisted options have been exercised. Now, 214,139,846 listed options remain on issue.
Beacon is up 2.7 per cent and shares are trading at 3.8 cents at 12:14 pm AEDT.