Drilling at Iguana Deposit Could Redefine Lady Ida’s Development Path
Beacon Minerals has launched an eight-hole diamond drilling program at its Lady Ida Iguana Deposit, aiming to refine mine design and deepen geological understanding. Results are anticipated in the second quarter of 2025.
- Eight-hole diamond drilling program commenced at Iguana Deposit
- Drilling targets geotechnical data and deeper mineralised zones
- Program supports optimisation of open pit mine design
- Contract awarded to Terra Drilling Pty Ltd using triple tube technique
- Results expected in Q2 2025 to inform next development phase
Beacon Minerals Initiates Key Drilling Phase
Beacon Minerals Limited (ASX: BCN) has officially commenced an eight-hole diamond drilling program at the Iguana Deposit, part of its Lady Ida Project in Western Australia. This program marks a critical step forward in advancing the mine development, focusing on obtaining core samples for geotechnical analysis, geological assessment, and metallurgical testing.
The drilling is strategically positioned along strike and beneath the existing Jamaican Rock Pit, targeting known mineralised zones that extend below the current pit floor. This approach aims to provide essential data to optimise open pit design and better understand the characteristics of deeper mineralisation.
Technical Details and Operational Context
The contract for drilling has been awarded to Terra Drilling Pty Ltd, a local contractor employing a triple tube diamond drilling technique. The program is expected to take up to four weeks to complete, with holes drilled to varying depths and orientations, the deepest reaching approximately 350 metres. Core samples will be processed in Kalgoorlie, with half core samples retained for further analysis.
Beacon’s recent JORC Mineral Resource Estimate, released in November 2024, reported a 17 million tonne resource at Iguana, underscoring the deposit’s significance. The current drilling program is designed to build on this foundation by providing data critical for finalising mine plans and assessing the viability of extending mineralisation at depth.
Strategic Implications and Forward Outlook
Executive Chairman and Managing Director Graham McGarry highlighted the program’s importance, stating it offers an "exciting opportunity" to aggressively advance the project. The geotechnical information gathered will be pivotal in refining pit designs and evaluating the structural integrity of the deposit, which lies along the Ida Fault, a major crustal structure known to influence mineralisation.
While no assay results are expected until Q2 2025, the drilling program’s completion will set the stage for subsequent phases of development, potentially unlocking additional resource extensions and enhancing project economics. The Lady Ida Project’s tenure and geological setting provide a robust platform for ongoing exploration and development activities.
Beacon’s methodical approach, including rigorous sampling, logging, and quality control procedures, reflects industry best practices and positions the company well to capitalise on the Iguana Deposit’s potential.
Bottom Line?
Beacon’s drilling at Iguana is a pivotal move that could reshape the Lady Ida Project’s trajectory as the market awaits Q2 results.
Questions in the middle?
- What will the assay results reveal about the depth and grade continuity of mineralisation?
- How might the geotechnical data influence the final open pit design and project economics?
- Could this drilling program lead to an expansion of the current 17 million tonne resource estimate?
