- Beacon Minerals (BCN) has updated the mineral resource estimate for the Panther Deposit in Western Australia
- The total updated mineral resource stands at 224,436 tonnes at 1.36g/t gold for 9814 ounces
- Beacon has also released the results of its third phase resource definition drilling program from Panther with gold grades peaking at 25.95 grammes per tonne
- Beacon is currently down 7.50 per cent on the market and shares are trading for 3.7 cents each
Beacon Minerals (BCN) has updated the mineral resource estimate for the Panther Deposit in Western Australia.
The total updated mineral resource stands at 224,436 tonnes at 1.36g/t gold for 9814 ounces including indicated resources of 41,121 tonnes at 1.94g/t gold for 2565 ounces and inferred resources of 183,315 tonnes at 1.23g/t gold for 7249 ounces.
The update was undertaken by independent resource consultants, BM Geological Services and 222 reverse circulation holes and two diamond holes were drilled to outline it.
Beacon has also released the results of its third phase resource definition drilling program from Panther.
A total of 20 holes were drilled, for 1308 metres, and drilling aimed to close off mineralisation identified from previous drills.
Significant results include five metres at 25.95g/t gold from 52 metres, two metres at 20.38g/t gold from 74 metres, and one metre at 16.7g/t gold from 72 metres.
Results from this program were used with historical results to update the mineral resource estimate.
A total of 7700 metres has now been drilled to help the company improve the geological and mineralogical understanding of Panther.
Beacon is currently down 7.50 per cent on the market and shares are trading for 3.7 cents each at 2:12 pm AEST.