High-grade gold results from Barlee

Beacon Minerals has obtained significant shallow gold mineralisation at the Halleys....

  Beacon Minerals has obtained significant shallow gold mineralisation at the Halleys East Prospect.

Results include:
o 28m at 4.1g/t (including 8m at 10.6g/t) from 8m;
o 32m at 3.7g/t (including 8m at 7.8 g/t EOH) from 12m;
o 12m at 2.6g/t from 8m;
o 4m at 13.3g/t from 24m;
o 12m at 1.5g/t from 16m; and
o 12m at 0.9g/t from 8m.
The Barlee Gold Project (Beacon Minerals - 80%) is located 200km north of Southern Cross in the West Australian Goldfields region and covers an area of over 400sqkm, the majority of which remains under-explored.Beacon Minerals managing director Lyle Thorne said: “These results from the Halleys East Prospect are highly encouraging. When combined with our earlier drilling and historical exploration, these results confirm the presence of significant shallow, gold mineralisation in multiple zones over a strike length of 3km. “Although Halleys East is at an early stage, the presence of high grade gold mineralisation is very encouraging.”Drilling at existing prospects such as Halleys East, Phil and Russell was planned to better define the geology and controls over the mineralisation defined to date, as well as to test for extensions to the mineralised ore zones. The remainder of the drilling tested other previously unidentified mineralized zones that may lie along a series of north-easterly orientated shear zones, an exploration concept developed by Beacon Minerals. The program has been completed and the remainder of results are expected within the next 3-4 weeks.Gold mineralisation at the Halleys East Prospect is associated with north-easterly trending shear zones along contacts between felsic porphyries and mafic to ultramafic rocks. It occurs as quartz-sulphide veins and stock work zones in strongly altered host rocks. Results are awaited from two lines of drilling southwest of the high grade mineralisation, along the north-easterly trend of the target shear zone, named the Halleys East Shear Zone.The company intends to accelerate exploration at Barlee, seeking to define several robust targets for potential resource drilling, once all results have been interpreted. Drilling will also continue at priority regional exploration targets.To date, only a small portion of the Barlee Project has been systematically explored for gold, and several regional targets, which have never been drilled, remain untested. The majority of the project area lies under shallow cover which may have hindered past surface exploration techniques.