Perth, April 22, 2008 AEST (ABN Newswire) - Beacon Minerals Ltd (ASX: BCN) is pleased to announce more encouraging drilling results from its Reverse Circulation (RC) drilling program at the Barlee Gold Project (E77/1297, BCN: 80%) in Western Australia.
Results include:
- 2m @ 13.4 g/t
- 4m @ 4.2 g/t (inc. 1m @ 10.6 g/t)
- 9m @ 2.0 g/t
- 5m @ 1.3 g/t
- 5m @ 1.0 g/t
- 1m @ 8.7 g/t
- 2m @ 3.9 g/t
To date, results have been received from 35 of the planned 47 hole, 5,000 metre program completed earlier in April. Results from the first seven holes (released to the ASX on 11 & 27 March 2008) compliment the latest results, and include;
- 19m @ 4.9 g/t (inc. 2m @ 28.7g/t)
- 11m @ 24.9 g/t (inc. 2m @ 32 g/t & 3m @ 64.7g/t)
- 8m @ 6.6 g/t (inc. 2m @ 18.5 g/t)
- 2m @ 55.1 g/t
- 2m @ 44.5 g/t
- 3m @ 6.8 g/t (inc. 1m @ 10.5 g/t)
- 3m @ 7.1 g/t (inc. 1m @ 19.7 g/t)
- 5m @ 6.5 g/t (inc. 1m @ 12.4 g/t)
MD Paul Lloyd said, "These most recent drilling results are very encouraging and come from a number of prospects including Buddy, Crabman, Faith and Halleys Channel. We are particularly encouraged by the initial results from drilling at Buddy, as the geology and mineralisation shows similarities to Halleys East, where we received very encouraging high grade intercepts in the first eight holes of this program. Both Buddy and Halleys East are priority targets for further drilling. "
All drill holes were angled at -60o to 320o, (apart from those at Halleys Channel, discussed later) which is interpreted to be largely perpendicular to the trend of the shallow mineralised zones. At Halleys Channel, holes were positioned at -60 to 270o to intersect an interpreted northerly trending buried paleochannel system. Drilling results are detailed in Attachment 1.
Results from the last RC hole completed at Halleys East, BRC008, include 1m @ 5.4 g/t from 42m and 4m @ 4.2 g/t Au (inc. 1m @ 10.6 g/t Au) from 50m, were returned from ferruginous quartz veins and bleached/silicified zones in sheared porphyry, approximately 30 meters southwest of BRC006 (2m @ 55.2 g/t from 59m). The high grade mineralisation has now been traced over 100m strike and remains open in all directions and at depth. Further drilling at Halleys East both along strike and at depth is considered a high priority.
A number of highly encouraging intercepts were received from the Buddy Prospect, located 350m southwest and along strike from Halleys East. Results including 2m @ 13.4 g/t Au, 9m @ 2.0 g/t Au and 2m @ 3.9g/t Au were recorded from three holes over 200m of strike. The mineralisation defined to date shows broad geological similarities with the Halleys East Prospect having a spatial association with felsic porphyries, bleaching/silicification and the Halleys East Shear Zone. No RC drilling has been completed between the two prospects, with hole locations shown in Attachment 3. Further drilling to better define the nature and extent of the mineralisation, which is open along strike and at depth, is planned at Buddy.
Drilling at Halleys Channel intersected gold mineralisation in basal paleochannel sediments over approximately 170m. The paleochannel appears to be 30m deep, and low level (0.1-0.2 g/t Au) was observed over broad intervals within the channel system. Interestingly, an intercept of 1m @ 3.1g/t Au EOH was recorded in BRC019 in altered basalts underneath the paleochannel.
Drilling at both the Crabman and Faith Prospects returned a number of narrow gold intercepts, and further geological interpretation is required to better understand the controls to mineralisation.
The Company has now consigned all remaining RC drilling samples to the laboratory and expects final results over the next fortnight. The remaining drill holes are from the Russell and Phil Prospects.
Note:
In accordance with Listing Rules 5.6 of the Australian Stock Exchange, the technical information contained in this report has been compiled by Mr. Lyle Thorne, a full time employee of Beacon Minerals Ltd. Mr. Thorne is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has the relevant experience with the mineralisation reported on to qualify as a Competent Person as defined by the Australasian Code for Reporting of Mineral Resources and Reserves. Mr. Thorne consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
Contact
General Enquiries
Paul Lloyd
Managing Director
Tel: (08) 9476 9200
Media Enquiries
Tony Dawe
Dawe Media Group
Mob: 041 3322 110
www.beaconminerals.com
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