Beacon Minerals (ASX: BCN) continues to expand the exploration potential of the Barlee Gold Project in Western Australia, with mining leases granted over Halleys East and Phil mineralised zones.
Most importantly about the new licenses are that the tenements are known to hold gold, and already contain a JORC Inferred Resource of; 364,000 tonnes at 6 grams per tonne for 74,000 gold ounces.
Both mining leases cover 12 square kilometres and are located within the Barlee's 400 square kilometres tenement footprint.
The company has begun negotiating with existing plant operators to toll treat the material from both zones in order to generate an early cash flow.
The current drilling program at Barlee remains on schedule with over 7,800 metres of aircore drilling and 4,800 metres of reverse circulation drilling complete.
The program will finish early next week with assay results expected within the following two to three weeks.