First welcome Premski! And drll results, Wow!
I am still reading the report, but it looks like great gold ore drill results for $BCN.AX Beacon today. https://hotcopper.com.au/threads/ann-results-of-the-iguana-diamond-drill-program.8684800/ HIGHLIGHTS Beacon drilled 8 Geotech Diamond Drill holes targeting pit wall positions at the Iguana deposit. A total of 1,982 metres of HQ3 and PQ3 were drilled by Terra Drilling Core was analysed and logged by Neotech Geotechnical Engineering to produce the Iguana Pit Design Slope Report. The core was also provided to structural experts Xirlatem Pty Ltd for geological loggingand review The drilling intersected multiple mineralised zones. Significant high-grade mineralisation, intersections include: (My NOTE, check drill #s this is just 3 holes! The IGGT_003 hit high grade gold 6 times over 112 meters, over 20% of that distance in aggregate. )
10.60 metres @ 4.14 g/t gold from 15.10 metres (IGGT_003) 8.34 metres @ 4.54 g/t gold from 112 metres (IGGT_003) 4.20 metres @ 15.45g/t gold from 28.70 metres (IGGT_003) 2.43 metres @ 2.76 g/t gold from 169.73 metres (IGGT_001) 2.20 metres @ 4.26 g/t gold from 107.80 metres (IGGT_003) 1.90 metres @ 3.68 g/t gold from 87 metres (IGGT_001) 1.00 metre @ 7.93g/t gold from 158 metres (IGGT_002) 0.90 metre @ 6.17g/t gold from 13 metres (IGGT_003) 0.30 metre @ 60.00 g/t gold from 27.20 metres (IGGT_003) Two distinct major “In-Situ” mineralisation styles were identified: Early Stage mineralisation The dominant mineralisation style of the Iguana deposit Sulphide-rich gold mineralisation Quartz is notably absent Later Stage mineralisation Quartz-fuchsite style mineralisation showing coarse visible gold A relatively small percentage of the Iguana mineralisationBeacon Minerals Executive Chairman and Managing Director Graham McGarry commented:“Beacon Minerals 2025 Diamond Drill program was the first active exploration and definition project conducted by Beacon Minerals at the Iguana Project, signifying the importance of this program in defining the geotechnical parameters and mineralisation styles present at the deposit “The findings from the drill program, and subsequent pit mapping campaigns have helped us further understand the Iguana deposit both geotechnically and geologically. The next stage is to update the IguanaMineral Resource.”
This is new on top of several people, including myself, that think in the next 4Qs $BCN.AX could be near 2 times free cash flow with a solid balance sheet in what I think is the safest jurisdiction in world, Western Australia.
Cheers
(20min delay)