F&B, they are underplaying this. The title does not indicate that they found any gold at all. "Confirms Mineralisation" normally means just that, there is no or just trace amounts of gold, but associated minerals like pyrite which indicate it is possible that somewhere else in the trend there could be gold. Then inside the document "Extensive Mineralisation Confirmed in First Pass
Drill Program at Iguana": Ah, so it is a big system, just not anything economic, like maybe 0.1 grams a ton, but lots of it.—that is what I thought before reading the PR.
Then I read the details, and my eyes popped out. Are you kidding me! Super high grades almost with no overburden.
Significant high-grade mineralisation intersections include:
11 metres @ 9.57 g/t gold from 15 metres (IGGC104)
2 metres @ 42.65 g/t gold from 25 metres (IGGC100)
6 metres @ 14.15 g/t gold from 28 metres (IGGC157)
3 metres @ 27.00 g/t gold from 13 metres (IGGC053) And on and on.
They then mention Lateriite and it appears to this rusty geologist that there was a big, low-grade gold deposit which weathered, and the non-gold parts mostly disappeared, gold imoevious so created an enriched surface zone that is child's play and super cheap to mine. Maybe a belly loader road grader could simply scrape it and then drive to the mill.
Significant ‘Laterite’ mineralisation intersections include:
1 metres @ 5.32 g/t gold from 0 metre (IGGC039)
1 metres @ 5.29 g/t gold from 0 metre (IGGC196)
2 metres @ 5.19 g/t gold from 1 metre (IGGC135)
1 metres @ 4.27 g/t gold from 1 metre (IGGC187)
1 metres @ 4.06 g/t gold from 0 metre (IGGC149)
1 metres @ 3.71 g/t gold from 0 metre (IGGC192)
2 metres @ 2.62 g/t gold from 0 metre (IGGC195)
1 metres @ 2.60 g/t gold from 3 metres (IGGC032)
Beacon has been blasting hard rock to run 1 gram-ish ore, now they could just scrap up 3-5 gram gold ore at the surface at 10 mph, and never even stop?? Looks possible. This appears to be crazy good news. If a brand-new explorer went out into a new area without a mill and hit
11 metres @ 9.57 g/t gold from 15 metres (IGGC104)
2 metres @ 42.65 g/t gold from 25 metres (IGGC100)
6 metres @ 14.15 g/t gold from 28 metres (IGGC157)
3 metres @ 27.00 g/t gold from 13 metres (IGGC053)
on their first 4 holes, with $1 million in the bank they might get a $50 million market cap. Beacon is now a highly profitable miner with a mill and is free cashflowing and as icing on the cake, they have found these 4 holes and way, way more, and the entire thing is at a market cap of $A122 Million??
There is more, the Ginzu Knife, the drill holes in the in-situ ore are shallow holes, and air-core drill holes, often terminating in high-grade gold ore, what is underneath? There is no enrichment from weathering, so it could be twice as deep? Or 20 times deeper at the same high-grade? Who knows until they drill deeper. Wow, best news I have seen in Australia yet from Beacon, and they have not even drilled Timor's high-grade copper/gold deposits. See images of shallow on page 5 here https://hotcopper.com.au/threads/ann-first-drill-program-at-iguana-confirms-mineralisation.8628591/#post-79474270 And that link is the entire report.
Cheers
F&B, they are underplaying this. The title does not indicate...
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