02/05/2008 - 10:37

Beacon Minerals encouraged by Barlee results

02/05/2008 - 10:37

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West Perth based mineral exploration company Beacon Minerals Ltd has announced positive results from its Barlee Gold Project in Western Australia, saying it will provide confidence for further regional exploration.

West Perth based mineral exploration company Beacon Minerals Ltd has announced positive results from its Barlee Gold Project in Western Australia, saying it will provide confidence for further regional exploration.

Managing Director Paul Lloyd said "We are very pleased with the results received from our first ever RC drilling programme at Barlee. Shallow, encouraging gold mineralisation have been returned from a number of prospects... these RC results give us confidence to accelerate regional exploration along prospective mineralised shear zones within the project area looking for new zones of mineralisation."

Full Announcement below:

Beacon Minerals Ltd (ASX Code: BCN) is pleased to announce the remaining drilling results from its Reverse Circulation (RC) drilling program at the Barlee Gold Project (E77/1297, BCN: 80%) in Western Australia.
Results include:
14m @ 3.7 g/t (inc. 1m @ 11.1 g/t)
3m @ 4.8 g/t
6m @ 1.6 g/t
3m @ 2.6 g/t
3m @ 1.7 g/t
4m @ 1.2 g/t
1m @ 4.0 g/t
The results are from the remaining 12 holes from the 47 hole program completed in April. Results from the first 35 holes (released to the ASX on 11, 27 March & 22 April 2008) compliment the latest results, and include;
19m @ 4.9 g/t (inc. 2m @ 28.7g/t)
11m @ 24.9 g/t (inc. 2m @ 32 g/t & 3m @ 64.7g/t)
8m @ 6.6 g/t (inc. 2m @ 18.5 g/t)
2m @ 55.1 g/t
2m @ 44.5 g/t
3m @ 6.8 g/t (inc. 1m @ 10.5 g/t)
3m @ 7.1 g/t (inc. 1m @ 19.7 g/t)
5m @ 6.5 g/t (inc. 1m @ 12.4 g/t)
2m @ 13.4 g/t
9m @ 2.0 g/t
MD Paul Lloyd said, "We are very pleased with the results received from our first ever RC drilling programme at Barlee. Shallow, encouraging gold mineralisation have been returned from a number of prospects, most notably Halleys East, Buddy and Phil. These are priority targets for further drilling. Additionally, these RC results give us confidence to accelerate regional exploration along prospective mineralised shear zones within the project area looking for new zones of mineralisation."
All drill holes were angled at -60o to 320o, (apart from those at Halleys Channel, discussed later) which is interpreted to be largely perpendicular to the trend of the shallow mineralised zones. At Halleys Channel, holes were positioned at -60 to 270o to intersect an interpreted northerly trending buried paleochannel system. Drilling results are detailed in Attachment 1.
Initial drilling from the southern zone at the Phil prospect intersected shallow gold mineralisation in several drill holes. Better intersections included 14m @ 3.7 g/t from 25m, 3m @ 2.6 g/t from 17m, 6m @ 1.6 g/t from 26m and 3m @ 4.8 g/t from 57m. Gold mineralisation is hosted within saprolitic clays within the oxide zone and sulphidic quartz veins at depth, hosted in altered quartz +/- mica schist and mafic rocks. The shallow gold mineralisation has now been intersected over 150m of interpreted strike, and is open both along strike and at depth.
Drilling of the northern zone at Phil intersected sporadic +1.0g/t intercepts within a broadly anomalous (+0.1g/t) halo of mineralisation. Gold appears to be hosted proximal to the contact(s) between felsic schist, cherts and altered mafic rocks. Mineralisation averaging 0.8 to 0.9 g/t was also intersected within the first 3 meters in lateritic material.

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