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Dear Sir/Madam
INITIAL JORC RESOURCE FOR BARLEE GOLD PROJECT
Beacon is pleased to announce the maiden resource for the Halleys East and Phil
deposits at the Barlee Gold project, located 200 Kms north of Southern Cross.
JORC Inferred Resource – 384,000 tonnes @ 6.0 g/t for 74,000 ozs Au
This initial resource estimate provides a solid base on which the company can
continue to build a substantial resource. It is important to note :
􀂾 This resource calculation doesn’t include the mineralised zone
encountered in the recent program at Halleys West of 14m @ 45.32 g/t Au.
􀂾 Previous RC drilling has only targeted less than 10 Km2 of the 300 Km2
tenement area focusing mainly on Halleys East and Phil. Numerous priority
targets remain untested and will be followed up in the proposed drilling
programs next year.
􀂾 Mineralised zones encountered to date are all relatively shallow ( less than
100 m below surface ) as deeper drilling for primary mineralisation has yet
to be carried out.
Mr. Harris, Managing Director said “Following the successful closing of the rights
issue, Beacon has sufficient funding to carry out exploration proposed in the
upcoming year, without raising additional funds. The company is confident that
these further drilling programs will achieve the minimum exploration target of 300 to
500,000 oz.
Once this minimum exploration target is reached, based on preliminary scoping
studies, an economically viable operation is anticipated because of the shallow,
high grade feed material and subsequent low cash operating costs”.
INITIAL JORC RESOURCE FOR BARLEE GOLD PROJECT ( cont )
This resource estimate at a 0.5 g/t cut off grade consists of the following deposits :
Halleys East 299,000 tonnes @ 6.7 g/t Au for 64,000 ozs
Phil ( Nth & Sth ) 85,000 tonnes @ 3.7 g/t Au for 10,000 ozs
TOTAL 384,000 tonnes @ 6.0 g/t Au for 74,000 ozs
(Note: Due to rounding, some figures may not sum correctly)
Further drilling is underway at the Halleys West Zone to clarify the interpreted orientation of this new
high grade zone and its relationship to the main Halley’s East mineralised trend. Drilling has also
been completed at Phil South, Phil North and Crabman South targeting extensions to the
mineralisation. Should encouraging results be received, further drilling with the aim of increasing the
resource base at Barlee will be a priority for the company.
The current drilling program is progressing on schedule with anticipated completion on the 15th
December. Results will be released following their receipt and review.
Should you have any questions in relation to the above matters, please contact