Australia

Bellevue Gold hits of up to 163 g/t gold at namesake project pave way for indicated resource upgrade

Bellevue Gold Ltds (ASX:BGL) extensional and infill exploration drilling at the Bellevue Gold Project in Western Australia has intersected high-grade mineralisation both outside and within the existing known resource boundary.

Hits of up to 0.7 metres at 163.2 g/t from 245.9 metres point to extensions of the Deacon, Deacon North and Bellevue Lodes and also provide positive implications for an indicated resource upgrade which is expected this quarter.

The company has a market cap of approximately $860.9 million and shares have been almost 8% higher intra-day to $1.105.

Managing director Steve Parsons said the companys investment in exploration drilling continued to create significant value for Bellevue stakeholders.

He said: “We have hit more high-grade mineralisation in previously untested areas.

“These results extend the known limits of the mineralisation.

“At the same time, our infill drilling continues to return strong results which should help drive an increase in the indicated resource.

“This all points to a larger overall mineralised envelope with more gold in the high-confidence indicated category, which in turn gives us even greater scale while continuing to de-risk the project.”

Deacon footprint grows

Step out drilling at the Deacon Lode has resulted in three new extensions to the known mineralisation.

Results include:

  • 9.3 metres at 5.8 g/t from 757.3 metres;
  • 1.4 metres at 63.2 g/t from 434.9 metres; and
  • 3.5 metres at 10.6 g/t from 387.5 metres.

Infill drilling at Deacon

Infill drilling at Deacon continued to deliver strong intersections in advance of a scheduled upgrade of the indicated resource category in the current quarter.

Drilling returned multiple strong intersections, including:

  • 5.1 metres at 7.8 g/t from 626.1 metres;
  • 1.6 metres at 89.4 g/t from 629.5 metres;
  • 3.7 metres at 8 g/t from 636.3 metres; and
  • 2.5 metres at 11.5 g/t from 660 metres.

Resources at Deacon currently stand at 430,000 tonnes at 18 g/t for 250,000 ounces in the indicated category and 1.5 million tonnes at 9.2 g/t for 440,000 ounces in the inferred category.

Oblique long-section showing location of new footwall shoot at Bellevue and new extensional drilling at Bellevue North, below and to the north of existing underground development.

Bellevue lode drilling

Drilling on the Bellevue lode has returned numerous intersections from areas away from existing stoping and near underground development.

Apart from the 163.2 g/t hit, other results include: