Beacon releases Mt Dimer MRE

Beacon Minerals has released an inaugural mineral resource estimate for its Mt Dimer project, located 120km north-east of Southern Cross.

The Boulder-based junior acquired Mt Dimer late last year from Aurumin and completed its maiden reverse circulation drilling program at the site.

A total of 47 holes were drilled across Mt Dimer’s Lightning and Golden Slipper deposits, with Beacon managing director and executive chair Graham McGarry heartened by the results.

Lightning’s mineral estimate is 128,000 tonnes at 4.8 grams per tonne of ore for 20,000 ounces – while Golden Slipper’s yielded 312,000 tonnes at 3.2 grams per tonne of ore for 32,000oz.

“The program has successfully delineated a resource of 52,000 ounces at Golden Slipper and Lightning and further work on other prospects within the tenement package will be undertaken later this year,” Mr McGarry said.

“A very positive result for our shareholders and all stakeholders.”

Beacon, which has multiple gold interests across Western Australia, produced 5,273oz during the March 2024 quarter at its Juardi gold project in the Goldfields.

The junior said despite production being in line with its budget, the final result was lower than previous quarters, due to its lower mill throughput impacted by high viscosities, in relation stockpiles and clays at the Lost Dog Panel 3 deposit

This followed on from a challenging December 2023 quarter, with production impacted due to a planned shutdown for its sag mill reline.

As of 10.23am WST, Beacon was trading at 2.7 cents per share, down three per cent.