high grade gold from rc drilling at barlee

11th March 2008
The Manager
Company Announcements Office
Australian Securities Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
HIGH GRADE GOLD FROM RC DRILLING AT BARLEE
Beacon Minerals Ltd (ASX Code: BCN) is pleased to announce initial drilling results from the first three Reverse Circulation (RC) holes at Halleys East at the Barlee Gold Project (E77/1297, BCN: 80%).
The Barlee Gold Project is 200 kilometres (kms) north of Southern Cross, in the goldfields region of Western Australia, and covers an area of over 400km², the majority of which remains under explored.
Results include:
o
19m @ 4.9 g/t (inc. 2m @ 28.7g/t) from 13 m,
o
3m @ 6.8 g/t (inc. 1m @ 10.5 g/t) from 38m, and,
o
3m @ 2.4 g/t Au from 46m in BRC003.
o
5m @ 4.6 g/t (inc. 2m @ 9.0 g/t) from 15m in BRC002
o
5m @ 2.7 g/t (inc. 1m @ 6.2 g/t) from 20m in BRC001.
Beacon has been actively exploring the Barlee Gold Project since February 2007, and previous Air Core drilling intercepted a number of near-surface gold prospects over 3 kilometres including Halleys East, Faith, Crabman, Buddy, Halleys Channel and Phil. These prospects form the main focus of the Company’s first RC drilling campaign which is currently in progress.
MD Paul Lloyd said, “We are very encouraged by these initial results from the Halleys East RC drilling. These are shallow intercepts and contain some exciting higher gold grades. We eagerly await further results from Halleys East and several other prospects we have targeted in this current 5,000 metre RC program”.
This is the first RC drilling specifically targeting the northeasterly trending mineralised zones, and the Company hopes it will identify a number of targets with the potential to host shallow gold resources. (see Attachment 4).
All drill holes were angled at -60o to 330o, which is interpreted to be largely perpendicular to the trend of the shallow mineralised zones. At this stage, it is too early to ascertain the true width of the mineralised zones at depth. Beacon is currently completing further drill holes at Halleys East which it anticipates will define the true width and overall extent of the mineralisation.
The Company is regularly consigning samples to the laboratory and expects further results over the coming weeks.
ENDS
Attachment 1: Barlee Gold Project – Significant RC Drilling Results
Attachment 2: Barlee Gold Project – RC Drilling Target areas
Attachment 3: Halleys East Collar Map
Attachment 4: Geological summary and Assay Results - BRC003 (13-50m)
For further information contact ;
General Enquiries Media Enquiries
Paul Lloyd Tony Dawe
Managing Director Dawe Media Group
Tel: (08) 9476 9200 Mob: 041 3322 110
www.beaconminerals.com
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
Attachment 1 – Barlee Gold Project – Significant RC Drilling Results
Prospect
Hole
(BRC)
East
North
Depth
(m)
From
(m)
Results
(+ 0.5 g/t Au)
Halleys East
001
703195
6737555
90
15
1m @ 0.77 g/t Au
20
5m @ 2.7 g/t Au
inc
23
1m @ 6.2 g/t Au
002
703175
6737540
100
15
5m @ 4.6 g/t Au
inc
18
2m @ 9.0 g/t Au
003
703185
6737515
120
13
19m @ 4.9 g/t Au
inc.
29
2m @ 28.7 g/t Au
33
2m @ 1.9 g/t Au
38
3m @ 6.8 g/t Au
inc.
38
1m @ 10.5 g/t Au
42
2m @ 0.62 g/t Au
46
3m @ 2.4 g/t Au
Results calculated at + 0.5 g/t Au, with a maximum of 2 meters internal dilution.
Repeat assays averaged.
All holes drilled at -60o to 330o.
Samples collected as single meter samples from 75:25 splitter via cyclone mounted on drill rig.
Duplicate and blank samples inserted routinely.
Assays sent to Ultratrace Laboratories in Perth. Gold & PGE determination via Fire Assay-ICP/OES
Au = gold, EOH= End of Hole
Attachment 2 – Barlee Gold Project – RC Drilling Target areas
Attachment 3 -– Halleys East Collar Map
Attachment 4 -– Geological summary and Assay Results - BRC003 (13-50m)
From (m)
To (m)
Result (g/t)*
Geological Summary
13
14
1.12
Fawn clay/saprolite
14
15
1.49
Saprolite/clay after felsic, Fe-Epi
15
16
6.59
Saprolite/clay after felsic, Fe-Epi
16
17
3.05
Saprolite/clay after felsic, Fe-Epi
17
18
2.41
Fawn clay/saprolite
18
19
1.46
Fawn clay/saprolite
19
20
2.21
Fawn clay/saprolite
20
21
3.46
Fawn clay/saprolite
21
22
3.09
Gossaneous quartz (Fe, Mn)
22
23
0.43
Gossaneous quartz (Fe, Mn)
23
24
0.86
Gossaneous quartz (Fe, Mn)
24
25
0.55
Brown saprolite/clay
25
26
2.47
Brown saprolite/clay
26
27
0.47
Brown saprolite/clay
27
28
1.01
Brown saprolite/clay
28
29
5.39
Gossaneous quartz (Fe, Mn)
29
30
42.53
Gossaneous quartz (Fe, Mn)
30
31
14.9
Brown saprolite
31
32
0.75
Sheared Porphyry Saprock - Fe, Epi
32
33
0.31
Sheared Porphyry Saprock - Fe, Epi
33
34
0.89
Sheared Porphyry Saprock - Fe, Epi
34
35
3.08
Sheared Porphyry Saprock - Fe, Epi
35
36
0.10
Gossaneous quartz (Fe, Mn)
36
37
0.21
Porphyry Saprock - Fe, Mn
37
38
0.23
Porphyry Saprock - Fe, Mn
38
39
10.55
Sheared Porphyry Saprock - Fe, Mn, Quartz veining
39
40
9.22
Sheared Porphyry Saprock - Fe, Mn, Quartz veining
40
41
0.65
Sheared Porphyry Saprock - Fe, Epi
41
42
0.28
Sheared Porphyry Saprock - Fe, Epi
42
43
0.67
Sheared Porphyry Saprock - Fe, Epi
43
44
0.7
Sheared Porphyry Saprock - Fe, Epi
44
45
0.34
Sheared Porphyry Saprock - Fe, Epi
45
46
0.27
Sheared Porphyry Saprock - Fe, Epi
46
47
1.01
Sheared Porphyry Saprock - Fe, Mn, Quartz veining
47
48
2.69
Sheared Porphyry Saprock - Fe, Epi
48
49
3.62
Sheared Porphyry Saprock - Fe, Epi
49
50
0.25
Sheared Porphyry Saprock - Fe, Epi
* - Average values used where repeat assays completed
Fe = Ferrugenisation , Epi = Epidote , Mn = Manganese