The companies Greenvale Project is located in Northern Queensland, approximately 200 kilometers west of Townsville in a highly endowed mineralised Province. It lies close to existing base metal mines (Balcooma, Dry River South), advanced mineral projects being considered for development (Einsleigh, Maitland), rail lines and major arterial roads.

The Project is located on the eastern side of the Cambrian to Ordovician Greenvale Sub-Province, which lies inbetween the Proterozoic Georgetown Inlier and the Early Palaeozoic Broken River Province to the east. Lithologies include folded and metamorphosed felsic to intermediate volcanics, sediments and intrusives of the Lucky Creek Metamorphic Group, bounded to the west by the Silurian Dido Granodiorite. The Lucky Creek Group has been further sub-divided into the Lugano and Eland Metamorphics, although only the Lugano Metamorphics are known to occur within the project area. These rocks consist of biotite gneiss, amphibolites, micaceous quartzites, magnetite and barite bearing cherts (thought to be exhalites) and schists which are interpreted to be analogous to the Balcooma Metavolcanics that host the Balcooma Copper-Gold-Zinc deposit some 15 kilometers to the west.

A spatial association between copper mineralisation and a metamorphosed porphyritic intrusive known as the Cockie Spring Tonalite has been identified in the project area at the Cockie prospect. Beacon completed 29 RC drill holes at the Cockie Prospect in late 2006 and in 2007.

The drilling aimed to define the shallow oxide mineralisation at the Cockie Prospect, with additional holes drilled to +150 metres depth testing deeper portions for primary sulphide mineralisation.

A number of significant intercepts were returned (at +0.3% Cu), including;

        Cockie East

• 34m @ 1.0% Cu, 0.2 g/t Au, 1.4 g/t Ag and 150 ppm Mo
• 66 m @ 0.6% Cu, 0.1 g/t Au, 1.4 g/t Ag, 170 ppm Mo,
• (inc. 8 m @ 1.0% Cu, 0.1 g/t Au, 2.2 g/t Ag, 400 ppm Mo)
• 57m @ 0.6% Cu, 1.2 g/t Ag
• (inc. 27m @ 0.6% Cu, 0.1g/t Au, 1.2 g/t Ag & 200ppm Mo)

    Cockie West

• 21 m @ 0.7% Cu, 0.1 g/t Au, 2.2 g/t Ag, 90 ppm Mo
• (inc. 8 m @ 1.0% Cu, 0.2 g/t Au, 3.7 g/t Ag)
• 28m @ 0.6% Cu, 1.3 g/t Ag
• (inc. 9m @ 1.0% Cu,  0.1g/t Au, 2.1 g/t Ag)
• 6m @ 1.0% Cu, 0.1 g/t  Au,  5 g/t Ag & 300ppm Mo
• (Cu = copper, Au = gold, Ag = silver, Mo = molybdenum)

Drilling within the main area, named Cockie East, has outlined a southerly dipping zone approximately 300 m long at >0.5% Cu, together with associated gold, silver and molybdenum mineralisation.

Preliminary exploration by Beacon, based on previous exploration activity, has identified a second zone of mineralization called Cockie West, where several shallow copper drill intercepts have been received.

Beacon has at least 22 kilometres of potentially mineralised strike along the Cockie trend to explore, with only 1 kilometre having been drill tested to date. The Company is highly encouraged by the results of its early exploration drilling programmes at Greenvale, and plans to continue exploration along the Cockie trend with the hope of locating further shallow zones of copper mineralisation.

In November 2006, Beacon consolidated its position in the Greenvale region, by entering into a Joint Venture with Glengarry Resources to explore over 195 square kilometres of the Lucky Creek tenements (Lucky Creek Joint Venture ; ‘LCJV’), effectively tripling Beacon’s tenement holdings in the area. Combined with its wholly owned tenements, the LCJV provides Beacon with access to a number of base metal prospects, including One Mile Dam, Galah Dam and Sugarbag, to test for volcanic-hosted massive sulphide mineralisation (VMS).

In July 2007, the company completed a helicopter supported VTEM (electromagnetic) and magnetic survey over approximately 150 square kilometres  of terrain within the project area, with 37 aeromagnetic/structural targets and 19 VTEM targets identified. 


Ground verification of all targets was recommended, after which further exploration will be planned.

At the company’s base metal prospects, Galah Dam and One Mile Dam, weak to moderate bedrock conductor sources were also identified.  Historical drilling at the Galah Dam Prospect has intersected 16m @ 4.5% Zn, 1.1 g/t Au, 0.5% Cu, 13 g/t Ag (inc. 5m @ 8.5% Zn) and 8m @ 3.5% Zn, 0.2g/t Au (inc. 1m @ 6.9% Zn).

At Steam Engine (within the LCJV), Beacon completed a total of 9 inclined Reverse Circulation (RC) drill holes for 690 metres at three prospects in mid-2007.

This drilling was designed to test for depth extensions and continuity to the main Steam Engine Zone, as well as follow-up areas where historical exploration by companies including Noranda (1980’s) received encouraging results.

Four holes were completed to test the depth extensions and continuity within the oxide zone of gold mineralisation defined by previous explorers. Historical drilling defined mineralisation over 350m, which is offset by a fault in the south, but is open to the north and at depth.

Drill hole SERC01 intersected the northern shoot down plunge from historical drilling, and recorded 6m @ 5.5 g/t Au (inc 2m @ 15.6 g/t Au) from 95m. This shoot remains open down plunge, and further drilling is planned. Drilling targeting the southern shoot intersected lower grade material in an interpreted fault zone.  Gold occurs as a series of outcropping, south-westerly plunging shoots hosted in sulphidic quartz-muscovite schist, with anomalous levels of silver and arsenic associated.

At the Eastern Ridge Prospect, located east of Steam Engine, a series of old workings over 500m of strike were targeted. These have been lightly tested by shallow drilling in the past. Five holes were completed, with highly encouraging results received from the southern area including 5m @ 4.5 g/t Au (inc. 1m @ 11 g/t Au) and 5m @ 4.3 g/t Au (inc. 1m @ 14 g/t Au). Mineralisation is hosted within west dipping pyritic cherts, and is open in all directions. Beacon intends to complete further drilling to test the continuity of the Eastern Ridge mineralisation.

Within the project area, a number of mineralised structures occur, evidenced by historical shallow pits and workings. Drilling by previous explorers over 3km of strike has located several +1.0g/t intercepts that require further work.

Several EM Anomalies were identified proximal to the Steam Engine Gold Prospect (within the LCJV), and will be investigated to determine if they represent expressions of other mineralised zones in the area