The Jaurdi Gold Project is located 35 kilometres north west of Coolgardie and is close to infrastructure, including public and private road access to Coolgardie and Kalgoorlie.
Locality of the Jaurdi Gold Project relative to the main ore deposits within the region
On 3 January 2017, the Company announced that it had executed an exclusive option to purchase the Jaurdi Gold Project comprising Mining Lease M16/529 (ML) from Fenton and Martin Mining Developments Pty Ltd (Fenton and Martin) (Option to Purchase Agreement).
The key terms of the Option to Purchase Agreement with Fenton and Martin include the following:
- Beacon paid $100,000 to purchase the ML; and
- Beacon paid an initial royalty of $90 per refined ounce of gold for the first 10,000 ounces produced from the tenement and $80 per refined ounce of gold produced thereafter.
The pre-paid royalty of $900,000 was paid to Fenton and Martin upon the transfer of the tenement.
During the September 2017 M16/529 licence from Fenton and Martin to Beacon Minerals.
Company has also acquired tenements adjacent to the Jaurdi Gold Project, please see below diagram.
Locality diagram detailing Beacon Minerals tenement holding
Pre-Feasibility Study Results for the Jaurdi Gold Project
The Company announced on 29 August 2018 the completion of its PFS for the Jaurdi Gold Project. The PFS demonstrates an economically and technically viable project with considerable upside. The key financial parameters are tabled below:
Processing Plant
The SAG mill (for further details on the SAG mill please see the Company’s ASX announcement on 14 February 2018) has been relocated to Burgess Laser Aligning’s (BLA) workshop in Kalgoorlie, Western Australia.
BLA are specialists in the installation of grinding mills in Australia and they will oversee the refurbishment of the mill drive train, mill bearings and hydraulics prior to installing the mill at the Jaurdi Gold Project.
25 March 2018 - Relocation of SAG Mill
The Company advises that it has purchased additional key items for the proposed processing plant including a bin, feeder and 750mm x 35m radial stacker.
The 750mm x 35mm radial stacker conveyor has been relocated to the Jaurdi Gold Project site and the stacker feed bin will be relocated prior to the Easter break.
22 March 2018 - Relocation of the Radial Stacker
The items purchased from Leonora Gold Plant Pty Ltd, a Company owned by Kin Mining NL will be progressively relocated to the Jaurdi Gold Project site commencing in late April 2018 (for further details please see ASX release dated 22 February 2018).
