Beacon Minerals defines maiden ore reserve in pre-feasibility study

Beacon Minerals Limited (ASX: $BCN) has announced the outcome of a Pre-feasibility Study (PFS) on the Mt Dimer Project, including a maiden ore reserve. The study revealed a reserve of 21,000 recoverable ounces at Lightning and Golden Slipper pits, with a total of 147kT @ 4.48 g/t Au expected to be mined. The study also outlined a more direct haulage route from Mt Dimer to the Jaurdi plant, significantly reducing the haulage distance. New exploration targets are being generated for the Mt Dimer leases, including Thunder which lies north of the L01 underground.

Executive Commentary on Pre-feasibility Study Outcome

Beacon's Managing Director/Executive Chairman, Graham McGarry, expressed his satisfaction with the outcome of the Pre-feasibility Study, stating, 'Beacon acquired the Mt Dimer tenements from Aurumin Limited in December 2023 and released a Maiden Mineral Resource Estimate in June 2024 of 52,000 ounces. This Ore Reserve highlights the profitability of these high grade resources and will complement the current plans Beacon has to grow the mine life of the Jaurdi Gold Project. A very positive result for our shareholders and all stakeholders!'

Summary of Pre-feasibility Study Outcome

The Pre-feasibility Study by Beacon Minerals has defined a maiden ore reserve at the Lightning and Golden Slipper pits, with a reserve of 21,000 recoverable ounces and a total of 147kT @ 4.48 g/t Au expected to be mined. The study also revealed plans for a more direct haulage route from Mt Dimer to the Jaurdi plant, significantly reducing the haulage distance. Furthermore, new exploration targets are being generated for the Mt Dimer leases, including Thunder. The study indicates that the Mt Dimer project is economically viable with an Undiscounted Cash Flow of $16.8M achievable over a 1-year timeframe. The Ore Reserve classification criteria and the mining method and assumptions have been thoroughly outlined in the study. Beacon Minerals is confident in the economic viability of the project and is looking forward to further exploration and development opportunities.