Beacon Minerals Hits 13.3 Metres at 16.32 g/t Gold in Iguana Diamond Drilling
Beacon Minerals has reported high-grade assay results from a diamond drilling program at the Iguana deposit, located within the Lady Ida Project in Western Australia.
Highlighting the final batch of assays from hole 26IGDD0010, the company intersected 13.3 metres grading 16.32 g/t gold from 76.2 metres, alongside 5.0 metres at 8.78 g/t gold from 32 metres and 11.45 metres at 6.64 g/t gold from 93.0 metres. Additional notable intercepts included hole 26IGDD0014 with 7.0 metres at 5.01 g/t gold from 63.5 metres, and hole 26IGDD0016 returning 2.0 metres at 11.48 g/t gold from 120 metres.
Completed by Terra Drilling, the diamond program was designed to complement Beacon's extensive reverse circulation resource definition drilling by providing continuous core for detailed geological, structural, and geotechnical assessment. The drilling identified two distinct mineralisation styles at Iguana: a dominant, sulphide-rich early-stage style without quartz, and a later-stage quartz-fuchsite style that locally hosts coarse visible gold. The company noted that visual observations of visible gold are not a substitute for laboratory assays.
The Iguana deposit forms part of the Lady Ida Project, which is situated on the inferred extension of the Ida Fault within the Mount Ida Greenstone Belt. Project operator Beacon Mining Pty Ltd staked one new mineral tenement near the project on 27 July 2026.
“While our extensive reverse circulation drilling has been instrumental in defining the resource, diamond drilling has provided the detailed geological, structural and geotechnical information required to refine our geological model and improve our understanding of the controls on high-grade mineralization.”
— Graham McGarry, Executive Chairman and Managing Director
Beacon Minerals will incorporate the diamond drilling results into an updated Mineral Resource estimate planned for Q1 FY26/27 to support ongoing mine planning and future development at the Lady Ida Project.
Read the full announcement: Diamond Drilling Confirms Mineralisation at Iguana Resource