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Location: 24 km NW from Coolgardie, Western Australia, Australia
Suite 11, 139 Newcastle StreetPerthWestern Australia, Australia6000
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Bulletin, via its wholly owned subsidiary Gekogold, has a 30% interest in the Gekogold Exploration and Production Joint Venture Agreement (Joint Venture) with Habrok whereby it contributes to the Joint Venture via way of cash calls.
Beacon Minerals Limited (ASX: BCN) (“Beacon” or “the Company”) is pleased to advise that the Company has executed an Offer Letter with Geko Pit Pty Ltd (“Geko”) for Beacon to acquire mining lease M15/621 and miscellaneous licence L15/355 (the Tenements) which are 100% owned by Geko.
The Company expects completion of the Acquisition to occur on or around 31 October 2022.
The deposit occurs within mafic lithologies which have been altered and deformed to a sericite-quartzbiote-hornblende schist. This schistose unit directly overlies an ultramafic sequence and gold mineralisaon is hosted within a shear zone formed at or near the contact which is dipping 60° to the south. The mineralisaon orientaon within this package dips approximately 45°south. Deep weathering has produced a laterite profile to approximately 80m depth and includes supergene enriched mineralised zones. Overlying the weathered basement rocks is a 10 20m thick transported alluvium horizon which underlies a layer of un-mineralised Cainozoic sediments. Re-interpretaon of the Geko gold deposit by Mining Plus resulted in the idenficaon of two discrete zones in the main area of mineralisaon called the Main Zone and Hangingwall Zone which are host to the majority of the mineralisaon. The Main Zone extends from the underlying fresh material into the weathered zone above and has a small supergene enriched gold zone at the top. The Hangingwall Zone isolates a local high-grade zone on the hangingwall contact. There are also mulple small mineralised zones of varying size located within the weathering profile. In addion, there is a zone of high-grade mineralisaon that either abuts the base of an alluvium horizon or detaches and runs through the moled clay material beneath the alluvial zone.The Geko deposit occurs within mafic lithologies which have been altered and deformed to a sericitequartz-biote-hornblende schist. This schistose unit directly overlies an ultramafic sequence and gold mineralisaon is hosted within a shear zone formed at or near the contact which is dipping 6 0° to the south. The mineralisaon orientaon within this package dips approximately 45°south. Deep weathering has produced a laterite profile to approximately 80m depth and includes supergene enriched mineralised zones. Overlying the weathered basement rocks is a 10 20m thick transported alluvium horizon which underlies a layer of un-mineralised Cainozoic sediments. A total 744 holes comprised the Geko drillhole database and, of these, 566 holesfor 38,194m were used to create a stragraphic model, with of 211 holes used for the Mineral Resource esmate, including 35 air-core holes, 20 diamond holes and 156 RC holes. Geological interpretaonof 12 mineralisaon wireframes using a 0.5 g/t Au cut-off grade was used to constrain interpolaon of composited drillhole assay grades into a block model.
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