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Beacon Minerals Reveals Positive Panther Intercepts And International Prospects

The Panther prospect for Beacon Minerals has delivered some very positive results at shallow depth after results were revealed to the market.

Some highlights of the program included:

  • PBRC070 13 metres @ 16.4g/t Au from 9 metres including 1 metre @ 195g/t Au from 13 metres
  • PBRC071 11 metres @ 7.1g/t Au from 7 metres including 1 metre @ 53.5g/t Au from 7 metres
  • PBRC080 2 metres @ 32.5g/t Au from 40 metres including 1 metre @ 58.8g/t Au from 40 metres
  • PBRC081 3 metres @ 26.8g/t Au from 45 metres including 1 metre @ 69.0g/t Au from 45 metres

Beacon Minerals has also announced it has applied for two prospecting licenses in Timor-Leste covering an area of 12842 ha. Beacon has committed to a staged exploration program in Timor Leste subject to

  • Enactment of a Mining Code and granting of prospecting license
  • Potential participation by the Government on a basis to be agreed

In other news relating to Timor Leste, The Timor Leste Ambassador to Australia Mrs Ines Almeida and staff; and Mr Gualdino da Silva President of Autoridade Nacional do Petroleo e Minerais (ANPM) and staff managed to visit Beacon’s Jaurdi project recently.  Beacon has applied to be a sponsor for the 407 Training visa. This would allow for overseas candidates to stay in Australia for up to two years to complete work place based training to improve skills. The longterm intent is to enter into a training partnership with ANPM.

“Beacon is pleased with the steady production at Jaurdi Gold Project. We continue to review different options to reduce costs and take advantage of the increasing gold price. The on‐going COVID‐19 is monitored closely by Beacon and we have in place policies and procedures to ensure the safety of the staff, consultants and the wider community. “The Company’s continues to maintain its exploration activities with the on‐going exploration program at Panther and the review of additional exploration programs that we believe will add shareholder value. The Board would like to thank Mr Gualdino Da Silva, Mrs Ines Almeldia and their staff for visiting Jaurdi, showcasing Beacon’s ability to create value in a short period of time.”

The Jaurdi Gold Project produced 6905oz of gold for the March 2020 quarter with gold sales of 5,033oz at an average sale price of $2,346A$/oz. In to the next quarter, hedges of 1000oz per month are places at $2,331A$/oz for April, May and June.

 

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