Barlee
The Barlee Project is located in the Murchison District of the Western Australian Goldfields, 200km north of Southern Cross.
The company holds over 300 sq km of prospective ground in three tenements (E77/1297- BCN 80%, E77/1364 & E77/1392 – BCN 100%) and the region hosts several large gold deposits which have been or are being considered for mining. The company believes that the project is highly prospective for structurally controlled gold mineralisation, as well as for uranium and nickel.
Beacon has developed an exploration model that interprets that gold is located in north easterly trending shear zones and that mineralisation has a spatial association with felsic porphyries. This structural model is being further refined as Beacon continue to explore and gain a better understanding of the controls to gold mineralisation.
The company has been actively exploring at Barlee since early 2007 testing for shallow gold mineralisation at several prospect areas. Systematic exploration by the company, generally through the follow-up of geochemical and/or RAB anomalies has returned exciting results with numerous prospects still being open both along strike and at depth.
In 2009, exploration was accelerated with the aim of defining initial JORC compliant resources Halleys East and Phil as well as commencing regional exploration to locate further drill targets.
The company commissioned an independent resource consultant to estimate Inferred Resources for Halleys East and Phil Deposits which resulted in some 384,000 tonnes @ 6.0 g/t for 74,000 ozs Au being estimated. This initial resource estimate was within the companies expectations and provides a solid base on which the company can continue to aggressively explore to build a substantial resource with an aim of achieving an exploration target of plus 500,000 oz.
The Company is confident of further exploration success given :
At Halleys East, drilling has intersected significant shallow gold mineralisation associated with a north easterly trending shear zone in mafic rocks. A spatial association with sheared felsic porphyries is also observed. Mineralisation appears to occur as a number of shoots within the main shear zone. An Inferred Resource of 299,000t @ 6.7 g/t Au for 64,000oz was estimated for the Halleys East Deposit which remains open at depth and down plunge. The block model for the resource at Halleys East shows shallow flat laying mineralisation which is highly attractive for any possible mining scenarios.
Drilling during 2009 at the Phil Deposit, located 3 km north of Halleys East has also allowed an Inferred Resource of 85,000t @ 3.7 g/t for 10,000oz to be calculated. The Phil mineralisation is also open at depth and down plunge.
A new zone to the west of the main Halley’s East Trend was intersected in drilling in 2009. Named the Western Zone, early intersections of 14m @ 45.3 g/t Au, 12m @ 11.23 g/t Au and 5m @ 14.12 g/t Au provide the company with a priority drill target close to the existing resources.
Most mineralisation in the small area drilled to date is high grade and is still open along strike and at depth. Regionally, a number of priority targets are still to be explored. With aggressive and successful exploration the company has the potential to become a highly-profitable producer in a comparatively short time frame.
Further drilling at the priority prospects as well as other conceptual targets is planned for early 2010. A large, regional geochemical programme is also planned for 2010, especially to the north and to the east where little systematic exploration has been completed and several structural targets have been identified from geophysical data
The company holds over 300 sq km of prospective ground in three tenements (E77/1297- BCN 80%, E77/1364 & E77/1392 – BCN 100%) and the region hosts several large gold deposits which have been or are being considered for mining. The company believes that the project is highly prospective for structurally controlled gold mineralisation, as well as for uranium and nickel.
Beacon has developed an exploration model that interprets that gold is located in north easterly trending shear zones and that mineralisation has a spatial association with felsic porphyries. This structural model is being further refined as Beacon continue to explore and gain a better understanding of the controls to gold mineralisation.
The company has been actively exploring at Barlee since early 2007 testing for shallow gold mineralisation at several prospect areas. Systematic exploration by the company, generally through the follow-up of geochemical and/or RAB anomalies has returned exciting results with numerous prospects still being open both along strike and at depth.
In 2009, exploration was accelerated with the aim of defining initial JORC compliant resources Halleys East and Phil as well as commencing regional exploration to locate further drill targets.
The company commissioned an independent resource consultant to estimate Inferred Resources for Halleys East and Phil Deposits which resulted in some 384,000 tonnes @ 6.0 g/t for 74,000 ozs Au being estimated. This initial resource estimate was within the companies expectations and provides a solid base on which the company can continue to aggressively explore to build a substantial resource with an aim of achieving an exploration target of plus 500,000 oz.
The Company is confident of further exploration success given :
- The resource estimate covers only the Halleys East and Phil deposits, both of which are open at depth and require further drilling to fully define.
- Newly discovered mineralised zones including Halleys West, Crabman South and Phil North have returned very encouraging RC intercepts and further drilling to is required to fully evaluate their potential,
- RC drilling has been conducted on less then 5% of the total tenement region,
- Recent RAB and aircore drilling has returned further highly mineralised regional targets.
- More than 20 priority structural targets, associated with regional shear zones have been defined from aeromagnetic work and require further drilling.
At Halleys East, drilling has intersected significant shallow gold mineralisation associated with a north easterly trending shear zone in mafic rocks. A spatial association with sheared felsic porphyries is also observed. Mineralisation appears to occur as a number of shoots within the main shear zone. An Inferred Resource of 299,000t @ 6.7 g/t Au for 64,000oz was estimated for the Halleys East Deposit which remains open at depth and down plunge. The block model for the resource at Halleys East shows shallow flat laying mineralisation which is highly attractive for any possible mining scenarios.
Drilling during 2009 at the Phil Deposit, located 3 km north of Halleys East has also allowed an Inferred Resource of 85,000t @ 3.7 g/t for 10,000oz to be calculated. The Phil mineralisation is also open at depth and down plunge.
A new zone to the west of the main Halley’s East Trend was intersected in drilling in 2009. Named the Western Zone, early intersections of 14m @ 45.3 g/t Au, 12m @ 11.23 g/t Au and 5m @ 14.12 g/t Au provide the company with a priority drill target close to the existing resources.
Most mineralisation in the small area drilled to date is high grade and is still open along strike and at depth. Regionally, a number of priority targets are still to be explored. With aggressive and successful exploration the company has the potential to become a highly-profitable producer in a comparatively short time frame.
Further drilling at the priority prospects as well as other conceptual targets is planned for early 2010. A large, regional geochemical programme is also planned for 2010, especially to the north and to the east where little systematic exploration has been completed and several structural targets have been identified from geophysical data
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Contact Details
Beacon Minerals LtdLevel 2, 46 Ord Street West Perth WA 6005
Phone: (08) 9476 9200
Fax: (08) 9476 9099
Email:
ASX Code
BCN: Fully paid shares