Beacon Minerals Ltd (ASX code : BCN) is a Western Australian based mineral exploration company focused on quality Australian assets.

The company is targeting precious and base metal mineralisation in North Queensland as well as gold, nickel and uranium mineralisation in Western Australia. Since listing in October 2006, the company has been aggressive in its exploration and has completed a number of exploration programme’s Greenvale and Barlee.


At the Greenvale Project in Northern Queensland, Beacon has over 400 square kilometres of prospective terrain to explore, either as 100% owned or in Joint Venture with Glengarry Resources Ltd (Lucky Creek Joint Venture, “LCJV” - Beacon earning 80%). The project is located 200 kilometres west of Townsville and close to existing mines, advanced prospects and related infrastructure. The project is considered highly prospective for porphyry-related copper-gold-silver molybdenum mineralisation (Cockie Prospect) , zinc-gold sulphide mineralisation (Galah Dam, One Mile)  and shear hosted gold mineralisation (Steam Engine).


The Cockie Prospect is considered prospective for porphyry related copper (Cu) gold (Au) silver (Ag) and molybdenum (Mo) mineralisation.  Drilling returned significant intercepts from over 1 kilometre of strike, open along strike and at depth, including;

•  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)
•  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)

Regional exploration comprising soil and rock sampling identified a 5.5 km long area anomalous in Cu, Au, Zn and Ag associated with the porphyry. Further regional exploration along the Cockie Trend to identify potentially new zones of mineralisation is planned. The company also recently completed a regional airborne EM (VTEM) and magnetic survey, with a number of EM and magnetic targets identified.
 
At the Galah Dam Prospect (LCJV) historical drilling returned values including 5m @ 8.5% Zn with elevated copper, gold and sliver. The area is considered prospective for zinc-gold sulphide mineralisation. Recent 3D modeling of the Galah Dam Prospect has high lighted a vertical dipping system with priority drilling targets identified.

The company completed drilling at the Steam Engine Prospect in 2007, where several areas that were considered prospective for shear hosted gold mineralisation were tested. Several significant results were returned from three prospect areas, Steam Engine, Paddys and Eastern Ridge. Better gold intercepts included;

• 6m @ 5.5 g/t Au (inc 2m @ 15.6 g/t Au)
• 5m @ 4.5 g/t Au (inc. 1m @ 11 g/t Au)
• 5m @ 4.3 g/t Au (inc. 1m @ 14 g/t Au).

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.
The company plans to drill test several prospects including the Cockie Trend, Galah Dam and Steam Engine at Greenvale in 2008 with the aim of quickly identifying and delineating areas that have the potential to host shallow resources.

At the companies Barlee project in Western Australia, Beacon has completed over 15,000 meters of shallow Aircore drilling testing the company’s newly interpreted exploration model. This model assumes that gold mineralisation is hosted with north easterly trending shear zones associated with mafic, ultramafic and porphyritic rocks. The company believes that the drilling has verified the model, with better gold results listed below;

• 28m @ 4.1 g/t (inc. 8m @ 10.6 g/t)
• 32m @ 3.7 g/t (inc. 8m @ 7.8 g/t EOH)
• 12m @ 2.6 g/t , and 4m @ 13.3 g/t
• 10m @ 3.6 g/t (inc. 2m @ 10.5 g/t EOH)
• 24m @ 2.7 g/t (inc. 4m @ 12.4 g/t)
• 12m @ 2.1 g/t
• 8m @ 5.9 g/t
• 8m @ 3.5 g/t

Beacon considers the gold results obtained to date justify an acceleration in exploration at Barlee, and both RC and regional Aircore drilling is planned . The Barlee project is also prospective for nickel and uranium.