BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610 1 ASX ANNOUNCEMENT 31 January 2017 SUCCESSFUL STAGE 1 DRILLING PROGRAMME COMPLETED AT JAURDI Highlights Assay Results received from RC drilling at Jaurdi include JD17C10: 11 metres at 10.17 g/t Au from 9 metres JD17C67: 16 metres at 3.81 g/t Au from 8 metres JD17C19: 14 metres at 3.33 g/t Au from 7 metres JD17C15: 14 metres at 2.91 g/t Au from 7 metres JD17C11: 12 metres at 2.83 g/t Au from 12 metres JD17C48: 10 metres at 2.45 g/t Au from 9 metres JD17C49: 12 metres at 2.42 g/t Au from 9 metres JD17C52: 13 metres at 2.35 g/t Au from 8 metres JD17C14: 11 metres at 2.35 g/t Au from 9 metres • The mineralised palaeochannel is open to the East and to the North West 400 metres of strike identified in Eastern Arm of palaeochannel as a result of Stage 1 drilling programme Average width of mineralisation in the Eastern Arm is 180 metres Average thickness of the Eastern Arm mineralisation is 10 metres Average depth from surface to the upper horizon of the gold bearing palaeochannel is 8 metres Beacon Minerals Limited (“Beacon” or the “Company”) is pleased to announce that the Stage 1 drilling programme has been successfully completed at the Jaurdi Gold Project, located 35 Km north west of Coolgardie in Western Australia. As announced on 3 January 2017 Beacon executed an exclusive option to purchase the Jaurdi Gold Project (Figure 1) comprising Mining Lease M16/529 (ML) from Fenton and Martin Mining Developments Pty Ltd (Fenton and Martin). Beacon has completed 78 holes for 2,330 metres as part of their Stage 1 drilling programme which was designed to test the Eastern Arm of the Jaurdi gold system. The programme was highly successful with 52 of the 78 holes intersecting significant intervals of gold mineralisation at an average depth of 8 metres below surface. The Stage 1 drilling results extend the known position of mineralisation within the Eastern Arm of the Jaurdi gold system to both the North and the East. The system remains open to both the East and West ‐ North West. For personal use only
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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ASX ANNOUNCEMENT
31 January 2017
SUCCESSFUL STAGE 1 DRILLING PROGRAMME COMPLETED AT JAURDI
Highlights
Assay Results received from RC drilling at Jaurdi include
JD17C10: 11 metres at 10.17 g/t Au from 9 metres
JD17C67: 16 metres at 3.81 g/t Au from 8 metres
JD17C19: 14 metres at 3.33 g/t Au from 7 metres
JD17C15: 14 metres at 2.91 g/t Au from 7 metres
JD17C11: 12 metres at 2.83 g/t Au from 12 metres
JD17C48: 10 metres at 2.45 g/t Au from 9 metres
JD17C49: 12 metres at 2.42 g/t Au from 9 metres
JD17C52: 13 metres at 2.35 g/t Au from 8 metres
JD17C14: 11 metres at 2.35 g/t Au from 9 metres
• The mineralised palaeochannel is open to the East and to the North West
400 metres of strike identified in Eastern Arm of palaeochannel as a result of Stage 1
drilling programme
Average width of mineralisation in the Eastern Arm is 180 metres
Average thickness of the Eastern Arm mineralisation is 10 metres
Average depth from surface to the upper horizon of the gold bearing palaeochannel is
8 metres
Beacon Minerals Limited (“Beacon” or the “Company”) is pleased to announce that the Stage 1 drilling
programme has been successfully completed at the Jaurdi Gold Project, located 35 Km north west of
Coolgardie in Western Australia. As announced on 3 January 2017 Beacon executed an exclusive
option to purchase the Jaurdi Gold Project (Figure 1) comprising Mining Lease M16/529 (ML) from
Fenton and Martin Mining Developments Pty Ltd (Fenton and Martin).
Beacon has completed 78 holes for 2,330 metres as part of their Stage 1 drilling programme which was designed to test the Eastern Arm of the Jaurdi gold system. The programme was highly successful with 52 of the 78 holes intersecting significant intervals of gold mineralisation at an average depth of 8 metres below surface. The Stage 1 drilling results extend the known position of mineralisation within the Eastern Arm of the Jaurdi gold system to both the North and the East. The system remains open to both the East and West ‐ North West.
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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Figure 1: Locality of Jaurdi Gold Project relative to major gold deposits
in the Kalgoorlie‐Coolgardie district Drilling was completed using a combination of Aircore (44 holes for 1,313 metres) and Reverse Circulation (34 holes for 1,017 metres) drilling techniques, the latter being employed to effectively drill through a silicified siltstone. A 25m x 50m pattern was drilled with all holes being vertical. Holes were drilled between 21 and 35 metres in depth (Figures 2 to 4). All hole collars have been surveyed using a DGPS and down hole surveying was undertaken using an open hole north seeking gyroscope. The gold mineralisation is hosted in either a bleached, siliceous siltstone or an interbedded clay and
siltstone unit. The average thickness of the mineralised system in the Eastern Arm of the Jaurdi
palaeochannel is 10 metres, the average width is 180 metres and the identified strike length is 400
metres, being open to both the East and West of this arm. It appears the course of the palaeochannel
system mimics the contemporary drainage system.
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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Figure 2: Location plan showing the collar position of the 2017 Stage 1 drill holes
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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Figure 3: Long section A – A’ through Eastern Arm of the Jaurdi gold system showing depth of palaeochannel mineralisation
Figure 4: Cross section B – B’ through Eastern Arm of the Jaurdi gold system showing depth of palaeochannel mineralisation
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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A second stage of drilling, of approximately 2,000 metres, has been designed by Beacon and will
commence on 1 February 2017 using the Kalgoorlie based contractor Ausdrill. The aim of this
programme is to extend the known occurrence of the Eastern Arm mineralisation both to the East and
North West, by joining up with the historically understood Western Arm orebody and to further
extend the Eastern Arm mineralisation to the East.
Table 1 shows the results of the Beacon January 2017 Stage 1 drilling programme and Table 2 shows
a suite of significant intersections from a number of historical drill holes which were completed in
three phases of drilling between 2007 and 2015.
Table 1: Table of drill intercepts from the January 2017 Jaurdi drilling programme
Hole_id Hole_Type MGA_Grid_ID MGA_East MGA_North MGA_RL From (m)
For further information please contact: Geoff Greenhill Graham McGarry Executive Chairman Managing Director Beacon Minerals Limited Beacon Minerals Limited M: +61 (0) 419 991 713 M: +61 (0) 409 589 584
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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Competent Persons Statement
The information in this report that relates to exploration results was authorised by Mr Darryl
Mapleson, a Principal Geologist and a full time employee of BM Geological Services, who are engaged
as consultant geologists to Beacon Minerals Limited.
Mr Mapleson is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Mapleson has
sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration to act as a competent person as defined in the 2012 edition of the “Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mapleson consents to
the inclusion in the report of the matters based on his information in the form and context in which it
appears.
Disclaimer This ASX announcement (Announcement) has been prepared by Beacon Minerals Limited (“Beacon” or “the Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement. This Announcement contains summary information about Beacon, its subsidiaries and their activities which is current as at the date of this Announcement. The information in this Announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Beacon. By its very nature exploration for minerals is a high risk business and is not suitable for certain investors. Beacon’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Beacon and of a general nature which may affect the future operating and financial performance of Beacon and the value of an investment in Beacon including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel. Certain statements contained in this announcement, including information as to the future financial or operating performance of Beacon and its projects, are forward‐looking statements that:
may include, among other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions;
are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Beacon, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and,
involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.
Beacon disclaims any intent or obligation to update publicly any forward‐looking statements, whether as a result of new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward‐looking statements.
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BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610
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All forward looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein. No verification: Although all reasonable care has been undertaken to ensure that the facts and opinions given in this Announcement are accurate, the information provided in this Announcement has not been independently verified.