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
