Beacon Secures DMPE Approval, Launches 200,000m Drilling Campaign at Iguana

Regulatory Milestone Achieved

Beacon Minerals Limited (ASX, BCN) has reached a significant milestone in the development of its Iguana Deposit within the Lady Ida Project, located in Western Australia’s Mount Ida Greenstone Belt. The company announced it has received primary approvals from the Department of Mines, Petroleum and Energy (DMPE), including the Mining Proposal and Closure Plan, alongside a Native Vegetation Clearing Permit obtained earlier in June 2025. These approvals clear the path for Beacon to commence ground-disturbing activities and mining operations.

Strategic Five-Year Resource Development

With regulatory hurdles cleared, Beacon’s board has committed to an ambitious five-year resource development strategy aimed at converting the current Inferred Mineral Resources at Iguana into higher-confidence Indicated Resources. This plan involves a substantial drilling campaign comprising 200,000 metres of Reverse Circulation (RC) drilling and 10,000 metres of Diamond (DD) drilling. The initial phase, set to begin in early October 2025, will see 40,000 metres of RC and 2,000 metres of DD drilling, supported by an increase in personnel to accelerate progress.

Operational Preparations and Optimisation

Alongside exploration efforts, Beacon is advancing plant optimisation works and has appointed a Construction Manager to oversee civil works that have already commenced. These activities are critical to ensuring the processing plant is ready to handle ore from Iguana efficiently, aiming to maximise recovery rates and operational performance ahead of first gold production, anticipated in early 2026.

Upcoming Resource and Reserve Updates

Beacon expects to release final results from its Grade Control assay program by mid-September 2025, followed by the declaration of a Laterite Ore Reserve in late September. Updated Mineral Resource and Ore Reserve estimates for the Iguana Deposit are scheduled for release in late October and late November respectively. These updates will provide the market with a clearer picture of the deposit’s quality and quantity, underpinning future development decisions.

Geological Context and Mineralisation Styles

The Iguana Deposit lies on the inferred extension of the Ida Fault and features complex structural geology within metamorphosed mafic and ultramafic rocks. Recent diamond drilling has identified two distinct mineralisation styles, an early-stage sulphide-rich gold mineralisation lacking quartz, and a later-stage quartz-fuchsite style that locally contains coarse visible gold. This geological complexity offers promising avenues for resource expansion and grade improvement.

Executive Chairman and Managing Director Graham McGarry expressed confidence in the project’s trajectory, highlighting the significance of the DMPE approvals and the company’s readiness to commence mining activities. As Beacon moves closer to production, the market will be watching how effectively the company executes its development plans and converts its resource base into tangible outputs.