Proactiveinvestors Australia Bellevue Gold Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Bellevue Gold Ltd RSS feed en Mon, 27 May 2019 02:08:11 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Bellevue Gold drills visible gold at two new exploration targets ]]> https://www.proactiveinvestors.com.au/companies/news/220636/bellevue-gold-drills-visible-gold-at-two-new-exploration-targets-220636.html Bellevue Gold Ltd (ASX:BGL) has witnessed visible gold in maiden deeper drilling below the Bellevue Lode at the Bellevue Gold Project in Western Australia.

The diamond hole intersected a 5-metre shear zone with Bellevue-style mineralisation including visible gold over 1.5 metres located 150 metres below the underground mine.

Furthermore, a new discovery has been made immediately west of the Tribune Lode, creating a second high-priority drill target for the project.

The first hole intersected 4 metres at 8.3 g/t gold and a second hole drilled 80 metres to the north intersected 1.8 metre zone with abundant visible gold for which assays are pending.

Extensional drilling results suggest upgrade of 1.53 million ounce resource

Finally, the latest batch of drill results from ongoing resource extension drilling at the Viago and Tribune lodes continues to reveal more high-grade gold.

Latest results that include 3.2 metres at 17.2 g/t gold and 2.7 metres at 22.6 g/t gold will feed into a resource update expected in the current June quarter.

The update is expected to increase the current JORC resource of 1.53 million ounces grading 11.8 g/t gold.

READ: Bellevue Gold confirms it has hired a corporate advisor for potential acquirers

Bellevue’s managing director Steve Parsons said: “We are pleased to provide an update on exploration activities completed at the Bellevue Gold Project with exploration drilling continuing to accelerate at the project with a fifth diamond core rig added to the drill fleet.

“The potential for an extension beneath the historic Bellevue mine to host a significant continuation of the mineralised system has been the major exploration target at the project since Bellevue Gold Ltd commenced exploration.

“It is a significant scale target and with no previous drilling completed beneath the 500-550 metres below surface level.

“The exploration team is highly encouraged to hit “Bellevue Style Mineralisation” and visible gold in the first hole completed.

Downhole electromagnetics (DHEM) find more surrounding targets

“The down hole conductors defined from this maiden drilling are equivalent in size and tenor to the Viago and Bellevue Lodes and we are very excited to have the additional rig on site to test these DHEM conductive plates and step out on the identified shear system at depth over coming weeks.

“It is also extremely pleasing that we have discovered the next high-grade lode to the west of the Tribune lode which is in a flat lying orientation similar to the very high-grade Viago discovery last year. This new lode again reinforces the potential for further discoveries to be defined as we move out from the known Lodes to date.

Strong cash position to fund ongoing drilling throughout 2019

“At the shallow Tribune and Viago North discoveries step-out drilling has continued to intersect high-grade lode gold mineralisation and has significantly expanded the strike length which still remains open.

“Technical work has commenced to deliver the forecast resource upgrade during Q2 2019.

“It is a sign of the quality of the Bellevue Gold Project in general that ongoing exploration continues to define new high quality and significant scale targets and maintain discovery momentum as increased step-out drilling is conducted at the project.”

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Tue, 21 May 2019 11:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220636/bellevue-gold-drills-visible-gold-at-two-new-exploration-targets-220636.html
<![CDATA[News - Bellevue Gold confirms it has hired a corporate advisor for potential acquirers ]]> https://www.proactiveinvestors.com.au/companies/news/219304/bellevue-gold-confirms-it-has-hired-a-corporate-advisor-for-potential-acquirers-219304.html Bellevue Gold Ltd (ASX:BGL) responded to a media article yesterday afternoon confirming it has appointed Canaccord Genuity (Australia) Limited as its financial advisor.

The company said Canaccord has been appointed to deal with any interest expressed by third parties in relation to it or its flagship Bellevue Gold Project in Western Australia.

Bellevue added that it is aware of its continuous disclosure obligations and does not have anything more to disclose in relation to the acquisition-related speculation at this time.

READ: Bellevue Gold in trading halt to respond to takeover speculation

Two exploration programs have been running at the Bellevue Gold Project in April 2019, the resource step-out and extension drilling program and the near-mine exploration program.

So far three high-grade gold target areas have been identified to the immediate north and west of Bellevue’s 1.53 million ounce resource grading 11.8 g/t gold.

The three target areas, Bellevue North-West, Bellevue West, and Government Well contain multiple walk up drill targets and all sit with within 20 kilometres of the Bellevue Gold Deposit.

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Tue, 30 Apr 2019 08:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219304/bellevue-gold-confirms-it-has-hired-a-corporate-advisor-for-potential-acquirers-219304.html
<![CDATA[News - Bellevue Gold in trading halt to respond to takeover speculation ]]> https://www.proactiveinvestors.com.au/companies/news/219216/bellevue-gold-in-trading-halt-to-respond-to-takeover-speculation-219216.html Bellevue Gold Ltd (ASX:BGL) has been granted a trading halt pending a response to media speculation regarding a potential acquisition.

Shares in the company will remain halted until the earlier of either the release of the response, or, the commencement of trade tomorrow.

READ: Bellevue Gold identifies new high-grade gold targets at namesake WA project

Bellevue is drilling at its flagship Bellevue Gold Project with the goal of upgrading the JORC Inferred resource of 1.53 million ounces grading 11.8 g/t gold.

Shares have more than doubled over the past 12 months, last trading at 51 cents before being halted.

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Mon, 29 Apr 2019 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219216/bellevue-gold-in-trading-halt-to-respond-to-takeover-speculation-219216.html
<![CDATA[News - Bellevue Gold identifies new high-grade gold targets at namesake WA project ]]> https://www.proactiveinvestors.com.au/companies/news/218372/bellevue-gold-identifies-new-high-grade-gold-targets-at-namesake-wa-project-218372.html Bellevue Gold Ltd (ASX:BGL) has identified three high-grade gold target areas along strike of the Bellevue gold deposit at its namesake project near Kalgoorlie in Western Australia’s Goldfields.

Work has been ongoing, developing targets towards initial drill testing through a combination of low-cost exploration including mapping, rock chipping and data review of multiple historical data sets.

The Bellevue North-West, Bellevue West and Government Well target areas contain multiple walk-up drill targets and all sit within 20 kilometres of the Bellevue deposit.

READ: Bellevue Gold’s exploration demonstrates further growth potential: Canaccord Genuity

Bellevue Gold managing director Steve Parsons said: “In tandem with the company’s resource step out and extension drilling that is ongoing at the high-grade Bellevue deposit the company has commenced a significant near-mine exploration targeting program over the past few months focused on developing multiple, high-grade targets along strike of the high-grade discovery at Bellevue.

“Bellevue Gold’s land package includes 18 kilometres of strike potential of the Bellevue gold trend as well as a significant area outside the immediate Bellevue mine that remains highly prospective for repeats and satellite ore bodies of which this latest work has focused on getting these targets into a drill-ready state.

“Excitingly the mineralisation styles and high-grade nature of the identified near mine targets exhibit strong similarities to those observed at the globally significant Bellevue gold deposit.

“With four diamond core drill rigs focused on delivering an update to the resource estimate in the second quarter this year, the recently identified targets will be subjected to further exploration through a combination of surface and geophysical exploration ahead of initial drill testing in the very near term.”

READ: Bellevue Gold extends high-grade strike at Viago and Tribune gold lodes within Bellevue

Historical shallow broad spaced drill results for follow-up include:

2 metres at 19.7 g/t gold from 32 metres; and 2 metres at 22.8 g/t from 8 metres.

High-grade rock chip results include 102 g/t, 87.6 g/t and 40 g/t.

The current exploration focus is on supporting the four diamond rigs drilling extensions to the Tribune, Viago and Bellevue lodes with follow-up drilling for the near mine exploration targets proposed to begin once regulatory approvals have been put in place.

Near mine work for the coming quarter will be focused on improving drill targeting through follow-up mapping, rock chipping, surface geochemical sampling and geophysical programs ahead of drilling.

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Thu, 11 Apr 2019 12:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218372/bellevue-gold-identifies-new-high-grade-gold-targets-at-namesake-wa-project-218372.html
<![CDATA[News - Bellevue Gold’s exploration demonstrates further growth potential: Canaccord Genuity ]]> https://www.proactiveinvestors.com.au/companies/news/216993/bellevue-golds-exploration-demonstrates-further-growth-potential-canaccord-genuity-216993.html Bellevue Gold Ltd’s (ASX:BGL) ongoing drill results are continuing to confirm that the Bellevue Gold Project in Western Australia is a globally significant high-grade gold discovery.

The company has about $27 million in cash to maintain its ongoing drilling campaign throughout 2019.

Global capital markets group Canaccord Genuity (TSE:CF) has retained its speculative buy recommendation and an 80 cents per share price target for Bellevue.

Following is an extract from Canaccord Genuity’s March 14, 2019 company update on Bellevue.

Viago North discovery a welcome development. Step-out drilling to the north of Viago (800kt at 22g/t for 550koz) has resulted in the discovery of a new lode (Viago North), extending the strike length of the deposit by 550m.

The Viago North results exceeded our expectations, and we highlight the similarities in the drill results released today (2.6m at 15.4g/t, 2.4m at 15.4g/t, 4.8m at 14.8g/t, 0.5m at 17.2/t and 0.4m at 19.3g/ t) with the first pass results from the Viago discovery (2.5m at 13.1g/t, 1.4, at 9.6g/t, 0.5m at 16.2g/t and 3.4m at 10.4g/t).

Why the similarity is important, is that Down Hole Electro-Magnetics (DHEM) proved to be a highly effective targeting tool for the second phase of drilling, which culminated in delineating a +20g/t grade Resource on Viago.

BGL has identified a number of high priority DHEM targets at Viago North which will be drill tested immediately, and in our view, could result in further high-grade Resource growth.

Compounding our bullish view on Viago North, is that the discovery is shallower (fault offset) than Viago by 50-100m and closer to the historic Bellevue underground workings.

Viago south extends mineralisation by ~200m. BGL had mixed success with extensional drilling to the south of Viago, with increased geological complexity (bifurcation of the shear zone) and drill hole deviation resulting in a number of DHEM targets not being fully tested.

Better results included 1.7m at 34.6g/t and 3.9m at 8.1g/t which demonstrate encouraging potential for further Resource growth.

BGL is currently establishing a more favorably located drill platform, and will integrate downhole navigational tools in the follow-up program (begins early JunQ'19) to improve targeting.

The total strike length of Viago has now increased from 750m to 1400m.

Tribune growing too. Highlights from the Tribune drilling program included 6m at 24.9g/ t (350m north of the current 600kt at 7.8g/t for 150koz Resource) and 6.5m at 22.2g/ t (50m south of the current Resource).

A significant follow-up drill program around the northern hole is currently underway, and could see the delineation of a new highgrade shoot within the Tribune shear.

Drill testing between the current Resource and the northern hole had limited success, but we note that high grade shoots tend to be controlled by fold axes (within the shear) and success in the north would see analogous fold asymmetry and plunge lineation with the historic Bellevue mine (300m to the east).

Further step-out holes to the south of the existing Resource will also be completed in the short term.

Fully funded to continue exploration. BGL completed a A$20m placement in Feb 2019, and the company currently has a cash balance of A$27m.

Four diamond rigs are onsite (20,000m planned for next phase) and the company remains on track for a Resource update late in the JunQ'19.

We continue to see Resource growth toward 2-2.5Moz in the medium term as a realistic expectation.

Valuation and recommendation. We have updated our modelling assumptions to incorporate the recent capital raise, with other key inputs remaining unchanged.

Our valuation is based on a DCF analysis (NPV10%) for the Bellevue gold project, plus nominal exploration value, diluted for future equity raising and net of corporate adjustments.

With an exciting pipeline of news flow expected to culminate in further Resource growth and increased project development merit, we retain a SPECULATIVE BUY recommendation and A$0.80/sh price target.

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Fri, 22 Mar 2019 13:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216993/bellevue-golds-exploration-demonstrates-further-growth-potential-canaccord-genuity-216993.html
<![CDATA[News - Bellevue Gold extends high-grade strike at Viago and Tribune gold lodes within Bellevue Project ]]> https://www.proactiveinvestors.com.au/companies/news/216430/bellevue-gold-extends-high-grade-strike-at-viago-and-tribune-gold-lodes-within-bellevue-project-216430.html Bellevue Gold Ltd (ASX:BGL) has substantially extended high-grade strike extensions at the Viago and Tribune gold lodes in first-pass step-out drilling within its Bellevue Gold Project in WA.

Drilling has confirmed the high-grade gold mineralisation remains open with the four diamond drill rigs having moved from resource drilling at Bellevue Surrounds to focus on step-out drilling at Viago and Tribune.

 

 

READ: Bellevue Gold secures $20 million in new funding for gold project

Bellevue Gold managing director Steve Parsons said: “Since the latest resource estimate upgrade at the Bellevue Surrounds in January the drill rigs have moved from Bellevue Surrounds resource area and have commenced step-out extensional drilling at the Viago, Tribune and Bellevue lodes.

“We are extremely excited by this latest round of first pass step-out drill holes that confirm both Viago and Tribune lodes extend a significant distance both north and south and that the high-grade mineralisation remains open.

“The discovery of the Viago Lode continuing to the north is extremely encouraging and we are looking forward to the next phase of drilling that will infill and target the high priority downhole electromagnetic (DHEM) conductors in this new mineralised area.

“There is a startling resemblance of the Viago North drilling to the initial drilling at the Viago discovery prior to the later infill drilling and drill testing of high tenor DHEM conductors.”

READ: Bellevue Gold substantial holder Bank of Novia Scotia increases stake to 12.27%

Best drill results at the Tribune Extension include 6 metres at 24.9 g/t gold and 6.5 metres at 22.2 g/t gold.

Results at Viago North new discovery returned 2.6 metres at 15.4 g/t and 2.4 metres at 15.5 g/t and the Viago extension recorded 4 metres at 14.8 g/t and 1.7 metres at 34.6 g/t.

Parsons added: “We are continuing with four diamond core drill rigs at site to target high priority DHEM targets at Viago North, resource definition as well as further step-out extension drilling at the Tribune, Viago and Bellevue lodes.

“The company expects to update the Bellevue project resource estimate in the second quarter this year with ongoing drill results continuing to confirm that the Bellevue Gold Project is a globally significant high-grade gold discovery.”

 

 

Four diamond drill rigs are operating on double shift at the project and is focused on drilling out the multiple new lodes as well as the continuation of the Viago and Tribune lodes in the Bellevue hanging wall.

The company has planned about 20,000 metres of drilling in the near term to update the resource estimate in this area using three of the rigs.

The other drill rig will be dedicated to further step-out extension drilling to the south and north of Viago following up new high priority targets identified by DHEM surveys and the updated geological structural targeting.

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Thu, 14 Mar 2019 11:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216430/bellevue-gold-extends-high-grade-strike-at-viago-and-tribune-gold-lodes-within-bellevue-project-216430.html
<![CDATA[News - Bellevue Gold substantial holder Bank of Novia Scotia increases stake to 12.27% ]]> https://www.proactiveinvestors.com.au/companies/news/215577/bellevue-gold-substantial-holder-bank-of-novia-scotia-increases-stake-to-1227-215577.html Bellevue Gold Ltd (ASX:BGL) substantial shareholder Bank of Novia Scotia has purchased 5.45 million ordinary shares, bringing its total shareholding to 55.26 million or 12.27%.

The shares were purchased on-market at an average share price of 53.39 cents, valuing the transaction at about $2.9 million.

Canadian multinational Bank of Novia Scotia first became a holder in Bellevue last October, after acquiring a 5.25% stake.

 

Bellevue recently raised $20 million through the issue of 37 million shares as part of a share placement.

The capital raising receiving strong support from institutional and sophisticated investors based in Australia, as well as continued support from its North American institutional investors.

The company is fully-funded to undertake drilling at its flagship Bellevue Gold Project throughout 2019, where it has defined a JORC resource of 1.53 million ounces grading 11.8 g/t gold.

 

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Thu, 28 Feb 2019 21:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215577/bellevue-gold-substantial-holder-bank-of-novia-scotia-increases-stake-to-1227-215577.html
<![CDATA[News - Bellevue Gold secures $20 million in new funding for gold project ]]> https://www.proactiveinvestors.com.au/companies/news/215091/bellevue-gold-secures-20-million-in-new-funding-for-gold-project-215091.html Bellevue Gold Ltd (ASX:BGL) has raised $20 million through the issue of 37 million shares priced at 55 cents each as part of a share placement.

The capital raising received strong support from institutional and sophisticated investors based in Australia, as well as continued support from its North American institutional investors.

Notably, these North American investors include a number of specialist global gold funds.

READ: Bellevue Gold increases gold deposit to over 1.5 million ounces, shares rise

Bellevue’s managing director Steve Parsons said: “We would like to welcome a number of new institutional investors onto our share register and thank our existing shareholders for their ongoing support.

"We are particularly pleased with the level of support from a number of institutional investors based in Australia, as well as the ongoing support from our North American institutional investor base.

"We are now fully funded to undertake drilling activities at Bellevue for the next 12 months.”

 

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Fri, 22 Feb 2019 12:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215091/bellevue-gold-secures-20-million-in-new-funding-for-gold-project-215091.html
<![CDATA[News - Bellevue Gold enters trading halt ahead of capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/214923/bellevue-gold-enters-trading-halt-ahead-of-capital-raising-214923.html Bellevue Gold Ltd (ASX:BGL) has been granted a trading halt by the ASX this morning pending the release of information regarding a capital raising.

Shares in the company will remain halted until the earlier of, either the release of relevant information, or the commencement of trading on Friday 22 February 2019.

READ: Bellevue Gold increases gold deposit to over 1.5 million ounces, shares rise

Earlier this month, the company increased the JORC resource at its Bellevue Gold Project in Western Australia by 47% to 1.53 million ounces grading 11.8 g/t gold.

The upgrade is the result of drilling completed in the December quarter to extend mineralisation of the Bellevue Lode and mineralisation adjacent the underground workings.

 

The drilling at Bellevue Gold Project is ongoing and a further resource upgrade is slated for the second quarter.

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Wed, 20 Feb 2019 14:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214923/bellevue-gold-enters-trading-halt-ahead-of-capital-raising-214923.html
<![CDATA[Media files - Bellevue Gold upgrades resource with four rigs still drilling ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12102/bellevue-gold-upgrades-resource-with-four-rigs-still-drilling-12102.html Tue, 05 Feb 2019 14:55:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12102/bellevue-gold-upgrades-resource-with-four-rigs-still-drilling-12102.html <![CDATA[News - Bellevue Gold increases gold deposit to over 1.5 million ounces, shares rise ]]> https://www.proactiveinvestors.com.au/companies/news/213936/bellevue-gold-increases-gold-deposit-to-over-15-million-ounces-shares-rise-213936.html Bellevue Gold Ltd (ASX:BGL) has increased the JORC resource estimate by 47% to 1.53 million ounces grading 11.8 g/t gold at its Bellevue Gold Project in Western Australia.

This upgrade is the result of recent drilling completed in the December quarter to extend mineralisation of the Bellevue Lode and mineralisation adjacent the underground workings.

Gold mineralisation is open on all lodes with step-out expansion drilling continuing onsite with four diamond core drill rigs currently operating.

Bellevue Gold is fully funded for further resource growth in 2019 with $13.7 million in cash as at 31 December 2019.

READ: Bellevue Gold is Top Explorer Pick Winner for 2019 by Macquarie Research

Bellevue’s managing director Steve Parsons said: “The company is delighted to announce a further substantial resource upgrade at the Bellevue Gold Project.

Discovery cost of less than A$15 per ounces

“The exploration team has discovered and delineated in excess of 1.5 million ounces of high-grade gold in just over 12 months since resource drilling commenced and at a very low discovery cost of less than A$15 per ounce.

“The latest upgrade once again confirms the exceptional quality of the Bellevue Gold Project which is globally one of the highest-grade and fastest growing gold projects and we are confident further drilling will continue to rapidly advance the resource base in 2019.

“This Bellevue Surrounds resource estimate is important for the Project as it is located within metres of the historic underground mine development.

“The company has now turned its attention to delineating further resource ounces from step-out drilling with the four drill rigs at the very high-grade Viago Lode and Western Corridor.

Another resource expansion expected in June quarter 2019

“We anticipate the next round of drill results in the very near future and a further resource upgrade in a few months time during the second quarter.”

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Tue, 05 Feb 2019 10:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213936/bellevue-gold-increases-gold-deposit-to-over-15-million-ounces-shares-rise-213936.html
<![CDATA[News - Bellevue Gold is Top Explorer Pick Winner for 2019 by Macquarie Research ]]> https://www.proactiveinvestors.com.au/companies/news/212834/bellevue-gold-is-top-explorer-pick-winner-for-2019-by-macquarie-research-212834.html Bellevue Gold Ltd (ASX:BGL) has been picked as the only high conviction Top Explorer Pick Winner for 2019 by Macquarie Research.

The company accomplished this after having successfully delineated a high-grade inferred resource of 1 million ounces of gold at 12.4 g/t gold last year at its Bellevue Gold Project in Western Australia.

READ: Bellevue Gold boosts gold resource over 1 million ounces with high-grade Viago Lode

Cardinal Resources Ltd (ASX:CDV) and Gold Road Resources Ltd (ASX:GOR) also feature amongst the eight high conviction Top Developer Pick Winners for 2019.

The following is an extract from Macquarie Research’s Global Gold Developers & Explorers: Picking the Winners – 2019:

BGL recommenced exploration at Bellevue in late-2017 and quickly discovered the Tribune and Southern Belle lodes followed up by the recent high-grade Viago lode (22.0 g/t).

The most recent resource estimate doubled the resource to 1.04 million ounces of gold at 12.3 g/t including a maiden estimate for Viago of 0.8 million tonnes at 22 g/t for 550,000 ounces.

Macquarie's global team of gold analysts have 18 Australian and Canadian developers and explorers across its coverage list, all of which are rated outperform.

BGL is well funded to drill (we estimate ~A$15 million at CY18 end) and we expect regular resource updates, and potential new discoveries to be key catalysts for the stock over 2019.

Given its high-grade and close proximity to the sealed highway, we believe Bellevue could displace lower grade ore into almost any regional processing plant.

Outlook and catalysts

We expect BGL to deliver a resource upgrade in early 2019 given the strong drilling results post the previous resource cut off.

We also anticipate consistent news flow from exploration activities particularly as BGL tries to define the extents of the high-grade Viago system.

BGL has only recently been defining extensions to the previously mined Bellevue system, and we believe this could also add further to resources over 2019.

We believe BGL to have strong acquisition potential given the projects high-grade and proximity to a sealed highway.

Gold Road (Outperform, Target Price: $0.80, Ben Crowley)

Investment Thesis: Developer with substantial Greenfields exploration exposure.

Construction of the Gruyere Gold Project (50% GOR) is now >85% complete with first gold set for early 2QCY19.

We expect GOR to receive a positive re-rate over 2019 as the company moves from a developer to a gold producer.

Exploration continues to provide upside potential to GOR with the company set to spend A$17-20 million on its systematic exploration program over the largest tenement package in the Yamarna Greenstone Belt.

Cardinal Resources (Outperform, Target Price: $0.80, Michael Gray)

Investment Thesis: Cardinal with a potential Tier 1 PFS-stage asset in Ghana.

Cardinal’s 7 million ounces gold Namdini open pit project in Ghana has a 270,000-ounce gold production profile as underpinned by its Sep/18 PFS study.

Goldfield’s, with two gold mines in Ghana, holds an 11% equity position that was purchased in the market and provides a strong validation for Namdini in our view.

We expect CDV to increasingly gain market attention and re-rate throughout 2019 as highlighted in our initiation – it controls one of the few potential Tier 1 assets globally.

Global Development Projects >250,000 ounces of gold per annum LOM production profile – owned by single asset developers

This assertion is supported by the exploration land position that has high potential to yield new satellite discoveries that could feed a central mill and for new standalone discoveries in the highly prospective Birimian Greenstone geology in Northern Ghana.

We expect exploration results, a DFS and a construction decision to be the key catalysts in 2019 and believe CDV is a prime target amongst the senior and intermediate producers.

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Fri, 18 Jan 2019 11:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212834/bellevue-gold-is-top-explorer-pick-winner-for-2019-by-macquarie-research-212834.html
<![CDATA[Media files - Bellevue Gold will update resource 'sooner rather than later' this quarter ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11873/bellevue-gold-will-update-resource--sooner-rather-than-later--this-quarter-11873.html Thu, 17 Jan 2019 15:59:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11873/bellevue-gold-will-update-resource--sooner-rather-than-later--this-quarter-11873.html <![CDATA[News - Bellevue Gold to update resource estimate this quarter ]]> https://www.proactiveinvestors.com.au/companies/news/212552/bellevue-gold-to-update-resource-estimate-this-quarter-212552.html Bellevue Gold Ltd (ASX:BGL) expects to update the resource statement for its flagship Bellevue Gold Project in Western Australia this quarter after a drill program which included a bonanza-grade hit of 26.1 g/t gold.

The West Perth-based company is hoping its fully-funded drilling effort will build on the project’s 1.04 million inferred ounces.

Bellevue's resource estimate for the project, 400 kilometres northwest of Kalgoorlie, is sitting at 2.6 million tonnes at 12.3 g/t gold.

READ: Bellevue Gold drill results reveal multiple gold extensions

The project’s maiden resource, released in August 2018, was 1.9 million tonnes grading 8.2 g/t for 500,000 ounces.

Bellevue Gold is drilling an area around the historical Bellevue mine, known as Bellevue Surrounds.

Drillers have intersected new unmined high-grade gold lodes at the project, with returned assays including 2.4 metres grading 26.1 g/t gold and 3.9 metres grading 16 g/t gold.

These results also confirmed the Bellevue lode extends 230 metres south of historical underground workings and remains open.

The company will continue to receive assays from its drilling campaign this quarter.

JORC resource estimate for Bellevue Surrounds

Bellevue managing director Steve Parsons said last month initial results from the latest campaign had “confirmed the company’s view that there is a significant amount of high-grade gold mineralisation remaining in and around the historical Bellevue underground area, known as the Bellevue Surrounds.

“This remaining gold mineralisation is in close proximity to existing underground development infrastructure.

“Resource estimation work is now underway on the Bellevue Surrounds mineralised area, which we expect to be able to bring into resource category in early first quarter of 2019 and add to the global inferred resource estimate for the project.”

800,000 tonnes at 22 g/t gold

Bellevue project also includes the Virago lode which consists of 800,000 tonnes at 22 g/t gold for 550,000 ounces.

The so-called bonanza-grade gold zone was unveiled in the second week of October 2018, attracting additional investor interest.

The Virago lode’s 22 g/t gold grade is one of the highest grade gold discoveries in the world.

Parsons reported last month the company had directed its four drill rigs to “extending the Viago Lode southwards and targeting extensions of the Bellevue Mineralised Shear Zone.

“There are also a number of exciting targets we are following up and look forward to updating the market further on these over coming weeks.”

In the weeks that followed Bellevue’s debut of its impressive maiden inferred resource, the company shared its plans to continue defining resources at the project.

Bellevue’s then executive director and now MD Parsons spoke to Proactive Investors’ Stocktube video channel about the company’s approach to the project.

Parsons said, “Having had a mine there previously … our view is that we’re looking to try and grow the resource up to a sizeable amount.

“Half a million ounces at a high grade like we have is of course very good, but when the discoveries are actually open along strike and at depth, our game plan is to keep on drilling.”

The company then delivered on the promise, further upgrading resources in a move that proved popular with investors.

Investor interest

The growing size of the company’s resource, the high grade of its lode and the company’s continued plans to increase the resource inventory attracted attention across the globe.

Canadian multinational financial institution Bank of Nova Scotia and related parties became major investors in the company in early October 2018.

Then executive director Parsons was subsequently promoted to managing director a week before the company raised $15 million from sophisticated investors.

READ: Bellevue Gold set to welcome third drill rig to site, assays pending

Parsons welcomed the investors to the company’s share register, saying: “We are now well placed to continue to rapidly advance drilling activities at Bellevue, including the very high-grade Viago lode.”

The incoming shareholders included North American institutional investors, such as specialist global gold funds, and Australian and Asian holders.

Nova Scotia later upped its stake by a 1.29% share to 11.4% in November 2018.

Back in September 2018 HSBC Custody Nominees (Australia) Limited had been one of the company’s largest shareholders, holding a 6.54% stake.

Another company holding significant stakes was Kitara Investments Pty Ltd, with 5.23% and 2.55% shares of Bellevue.

Sunset Capital Management Pty Ltd had a 4.33% stake, Macquarie Bank Limited held 3.73% and JP Morgan Nominees Australia Limited had 2.99%.

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Tue, 15 Jan 2019 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212552/bellevue-gold-to-update-resource-estimate-this-quarter-212552.html
<![CDATA[News - Bellevue Gold drill results reveal multiple gold extensions ]]> https://www.proactiveinvestors.com.au/companies/news/210821/bellevue-gold-drill-results-reveal-multiple-gold-extensions-210821.html Bellevue Gold Ltd (ASX:BGL) has received assay results from 11 diamond drill holes at its flagship 1.04 million ounce Bellevue Gold Project in Western Australia. 

Drilling was targeting previously unmined gold mineralisation around and along strike of the historic Bellevue mine underground workings, known as the Bellevue Surrounds.

Multiple new unmined high-grade gold lodes were intersected with highlights featuring 2.4 metres at 26.1 g/t gold and 3.9 metres at 16.0 g/t gold.

Notably, drill results confirm that the Bellevue Lode extends a further 230 metres to the south of historic underground workings and remains open.

READ: Bellevue Gold has major shareholder Bank of Nova Scotia increase stake

Bellevue’s managing director Steve Parsons said: “The results from the recent drilling at the historic Bellevue underground mine area as well as mineralised extensions immediately to the south of the underground workings have confirmed the company’s view that there is significant amount of high-grade gold mineralisation remaining in and around the historic Bellevue underground area, known as the Bellevue Surrounds.

“This remaining gold mineralisation is in close proximity to existing underground development infrastructure (currently flooded).

JORC resource estimate being prepared for Bellevue Surrounds

“Resource estimation work is now underway on the Bellevue Surrounds mineralised area which we expect to be able to bring into resource category in early first quarter 2019 and add to the global inferred resource estimate for the Bellevue Gold Project which currently stands at 1.04 million ounces gold at 12.3 g/t gold.

Drilling continues with four rigs operating at Viago Lode

“In the meantime, four diamond core drill rigs have now turned to extending the Viago Lode southwards and targeting extensions of the Bellevue Mineralised Shear Zone.

“There are also a number of exciting targets we are following up and look forward to updating the market further on these over coming weeks.”

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Mon, 10 Dec 2018 11:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210821/bellevue-gold-drill-results-reveal-multiple-gold-extensions-210821.html
<![CDATA[News - Bellevue Gold has major shareholder Bank of Nova Scotia increase stake ]]> https://www.proactiveinvestors.com.au/companies/news/209726/bellevue-gold-has-major-shareholder-bank-of-nova-scotia-increase-stake-209726.html Bellevue Gold Ltd (ASX:BGL) has had one of its major shareholders increase its holding in the company to 11.14% from 9.85%.

Bank of Nova Scotia and associated parties and affiliates acquired an additional 10.256 million shares at 44.34 cents per share, taking their total holding to 49.815 million shares.

READ: Bellevue Gold secures $15 million after strong demand in placement

Bellevue recently raised $15 million through the placement of 45 million shares priced at 34 cents to sophisticated and institutional investors.

Funds raised will be used for ongoing exploration at the flagship Bellevue Gold Project in Western Australia where the gold resource was recently increased to 1.04 million ounces grading 12.3 g/t gold.

READ: Bellevue Gold set to welcome third drill rig to site, assays pending

Recent drilling has been focussed on extensions of lodes adjacent to the Bellevue historical development.

Drilling at the Viago Lode is targeting step-out down plunge and down dip as well as multiple electromagnetic conductors.

Results from recent drilling will be made available to the market at the first opportunity.

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Thu, 22 Nov 2018 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209726/bellevue-gold-has-major-shareholder-bank-of-nova-scotia-increase-stake-209726.html
<![CDATA[News - Bellevue Gold set to welcome third drill rig to site, assays pending ]]> https://www.proactiveinvestors.com.au/companies/news/209136/bellevue-gold-set-to-welcome-third-drill-rig-to-site-assays-pending-209136.html Bellevue Gold Ltd (ASX:BGL) is advancing exploration drilling with two diamond drill rigs operating on a double shift at its Bellevue Gold Project in Western Australia.

A third rig will be arriving to site next week.

Following the recent $15 million capital raising, Bellevue is fully funded to aggressively continue resource expansion through step-out drilling in the top ~500 metres.

Drilling aims to build on the current 1.04 million ounce Inferred resource grading 12.3 g/t gold through an updated resource targeting release in the March quarter of 2019.

READ: Bellevue Gold has major shareholder increase stake

Bellevue’s managing director Steve Parsons said: “We are delighted at how rapidly the team is discovering and adding high-grade gold ounces at the Bellevue Gold Project.

“With the recent oversubscribed placement to a number of significant global institutions we are well funded to continue step-out extensional drilling with multiple drill rigs ready for an updated resource statement in Q1 2019.”

READ: Bellevue Gold secures $15 million after strong demand in placement

Resource expansion drilling will focus on three advanced targets within the Bellevue Gold Project – Bellevue Lode, Viago Lode, and Northern Bellevue.

Bellevue Lode historically produced 700,000 ounces at 15 g/t gold

Drilling will target nearby extensions to the north and south of the Bellevue underground mine as well as a number of unmined areas proximal to existing underground development.

There are also a number of significant recently identified untested down-hole electromagnetic (DHEM) conductors.

The company believes that a significant amount of mineralised material was left unmined during the previous operation due to the mining of only the bonanza’style super-high-grade ore shoots and leaving the proximal ore behind.

Drilling to extend very high-grade Viago Lode

Recent drilling undertaken since the Viago maiden resource of 550,000 ounces grading 22.0 g/t gold has been focussed on extensions of lodes adjacent to the Bellevue historical development.

Drilling at the Viago Lode is targeting step-out down plunge and down dip as well as multiple (DHEM) conductors.

Results from recent drilling will be made available to the market at the first opportunity.

Step-out scout holes at Northern Bellevue

The Northern strike extents of the Bellevue, Hamilton and Henderson Lodes have been poorly drill tested with only 250 metre spaced drilling completed by previous operators.

A number of significant intersections have been noted in the historic drilling in un-oriented diamond drill core similar in style to the known Bellevue Lode mineralisation.

The company intends to follow up the northern Bellevue targets over the coming weeks with step-out scout diamond core drill holes followed up by DHEM to detect any potential ore Lodes in the vicinity.

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Wed, 14 Nov 2018 10:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209136/bellevue-gold-set-to-welcome-third-drill-rig-to-site-assays-pending-209136.html
<![CDATA[News - Bellevue Gold has major shareholder increase stake ]]> https://www.proactiveinvestors.com.au/companies/news/208569/bellevue-gold-has-major-shareholder-increase-stake-208569.html Bellevue Gold Ltd (ASX:BGL) has had one of its major shareholders increase its holding in the company’s undiluted total shares to 9.85% from 8.09%.

Bank of Nova Scotia and associated parties and affiliates acquired an additional 7.058 million shares at 34 cents taking its total holding to 39.558 million shares.

READ: Bellevue Gold secures $15 million after strong demand in placement

Bellevue recently raised $15 million through the placement of 45 million shares priced at 34 cents to sophisticated and institutional investors.

Funds raised will be used for ongoing exploration at the flagship Bellevue Gold Project in Western Australia where the gold resource was recently increased to 1.04 million ounces grading 12.3 g/t gold.

The company aims to unlock the potential of a historic high-grade gold mine.

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Tue, 06 Nov 2018 08:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208569/bellevue-gold-has-major-shareholder-increase-stake-208569.html
<![CDATA[News - Bellevue Gold secures $15 million after strong demand in placement ]]> https://www.proactiveinvestors.com.au/companies/news/207892/bellevue-gold-secures-15-million-after-strong-demand-in-placement-207892.html Bellevue Gold Ltd (ASX:BGL) has raised $15 million through the placement of 45 million shares priced at 34 cents to sophisticated and institutional investors.

The capital raising received strong support from institutional investors in North America including a number of specialist global gold funds as well as continued support from Australian and Asian holders.

Funds raised will be used for ongoing exploration at the Bellevue Gold Project where the gold resource was recently increased to 1.04 million ounces grading 12.3 g/t gold.

READ: Bellevue Gold boosts gold resource over 1 million ounces with high-grade Viago Lode

Bellevue’s managing director Steve Parsons said: “We would like to welcome a number of new institutional investors onto our share register and thank our existing shareholders for their ongoing support.

“We were particularly pleased with the level of support from a number of pre-eminent precious metal investors based in North America.

“We are now well placed to continue to rapidly advance drilling activities at Bellevue, including the very high-grade Viago Lode.”

One of the world’s highest grade discoveries

The recent resource increase was due to a maiden resource being added for the high-grade Viago Lode of 0.8 million tonnes at 22.0 g/t gold for 550,000 ounces.

Significantly, at a grade of 22.0 g/t gold, the Viago Lode is one of the highest grade gold discoveries globally.

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Fri, 26 Oct 2018 10:34:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207892/bellevue-gold-secures-15-million-after-strong-demand-in-placement-207892.html
<![CDATA[News - Bellevue Gold enters trading halt ahead of capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/207790/bellevue-gold-enters-trading-halt-ahead-of-capital-raising-207790.html Bellevue Gold Ltd (ASX:BGL) has been granted a trading halt by the ASX pending the release of details regarding a capital raising.

Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trading next Monday 29 October 2018.

READ: Bellevue Gold boosts gold resource over 1 million ounces with high-grade Viago Lode

Bellevue recently updated its resource estimate for the Bellevue Gold Project in Western Australia to 2.6 million tonnes at 12.3 g/t gold for 1.04 million ounces of gold.

The resource increase is due to a maiden resource being added for the high-grade Viago Lode of 0.8 million tonnes at 22.0 g/t gold for 550,000 ounces.

Significantly, at a grade of 22.0 g/t gold, the Viago Lode is one of the highest grade gold discoveries globally.

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Thu, 25 Oct 2018 08:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207790/bellevue-gold-enters-trading-halt-ahead-of-capital-raising-207790.html
<![CDATA[News - Bellevue Gold boosts gold resource over 1 million ounces with high-grade Viago Lode ]]> https://www.proactiveinvestors.com.au/companies/news/207510/bellevue-gold-boosts-gold-resource-over-1-million-ounces-with-high-grade-viago-lode-207510.html Bellevue Gold Ltd (ASX:BGL) has updated its resource estimate for the Bellevue Gold Project in Western Australia to 2.6 million tonnes at 12.3 g/t gold for 1.04 million ounces of gold.

The resource increase is due to a maiden resource being added for the high-grade Viago Lode of 0.8 million tonnes at 22.0 g/t gold for 550,000 ounces.

Significantly, at a grade of 22.0 g/t gold, the Viago Lode is one of the highest grade gold discoveries globally.

READ: Bellevue Gold promotes Stephen Parsons to managing director

Bellevue’s managing director Stephen Parsons said: “The company is pleased to report the interim resource statement at the Viago deposit which has demonstrated to be a high-quality discovery of exceptional gold grade.

“The global resource base has now increased to over a million ounces at an impressive 12.3 g/t gold in less than 12 months since we commenced drilling at the Bellevue Project.

“As the geological understanding of this very high-grade gold system increases we have numerous high priority targets to progress to expand the current resource inventory and we intend to continue exploration drilling targeting for resource expansion.

“We look forward to keeping the market informed of progress of this exciting discovery as exploration progresses and we move towards an updated resource estimate in the first quarter of 2019.”

READ: Bellevue Gold defines bonanza-grade gold zone at company-making Viago lode

The updated resource builds upon the maiden Inferred Resource released in August 2018 of 1.9 million tonnes grading 8.2 g/t gold for 500,000 ounces of gold.

The company only recently discovered the high-grade gold Viago Lode, which was defined by diamond drilling for 800 metres of strike and remains open.

Results from the emerging Viago Lode discovery include 3 metres at 85.9 g/t gold from 597 metres including 0.5 metres at 445.0 g/t gold.

READ: Bellevue Gold has new substantial holder in Bank of Nova Scotia

The 1,930 square kilometre Bellevue Gold Project is in the northern part of the Norseman-Wiluna Greenstone belt in the Yilgarn Craton of Western Australia.

High-grade gold was mined at the project for over 100 years at the Bellevue lode through to 1997 when the operation shut down at around 430 metres below surface.

Around 800,000 ounces of gold have been produced at a reported head grade of about 15 g/t from a narrow vein operation.

Very little modern exploration has been completed since the 1997 mine closure.

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Mon, 22 Oct 2018 10:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207510/bellevue-gold-boosts-gold-resource-over-1-million-ounces-with-high-grade-viago-lode-207510.html
<![CDATA[News - Bellevue Gold promotes Stephen Parsons to managing director ]]> https://www.proactiveinvestors.com.au/companies/news/207508/bellevue-gold-promotes-stephen-parsons-to-managing-director-207508.html Bellevue Gold Ltd (ASX:BGL) has appointed Stephen Parsons to the position of managing director, expanding on his former position of executive director.

Bellevue’s chairman Ray Shorrocks said: “Steve’s performance since joining the company in early 2017 has been nothing short of extraordinary. He brought with him a first-class team and made one of the most significant new gold discoveries in Australia.

“We are delighted Steve has decided to continue with the company as the managing director as we continue through this exciting journey with the high-grade Bellevue Gold Project.”

READ: Bellevue Gold defines bonanza-grade gold zone at company-making Viago lode

The company is expecting a resource update in the current December quarter for its Bellevue Gold Project in Western Australia.

This will build upon the maiden Inferred Resource released in August 2018 of 1.9 million tonnes grading 8.2 g/t gold for 500,000 ounces of gold.

More recently, the company discovered the new high-grade gold Viago Lode, which has been defined by diamond drilling for 800 metres of strike and remains open.

Results from the emerging Viago Lode discovery include 3 metres at 85.9 g/t gold from 597 metres including 0.5 metres at 445.0 g/t gold.

READ: Bellevue Gold has new substantial holder in Bank of Nova Scotia

The 1,930 square kilometre Bellevue Gold Project is in the northern part of the Norseman-Wiluna Greenstone belt in the Yilgarn Craton of Western Australia.

High-grade gold was mined at the project for over 100 years at the Bellevue lode through to 1997 when the operation shut down at around 430 metres below surface.

Around 800,000 ounces of gold have been produced at a reported head grade of about 15 g/t from a narrow vein operation.

Very little modern exploration has been completed since the 1997 mine closure.

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Mon, 22 Oct 2018 08:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207508/bellevue-gold-promotes-stephen-parsons-to-managing-director-207508.html
<![CDATA[News - Bellevue Gold defines bonanza-grade gold zone at company-making Viago lode ]]> https://www.proactiveinvestors.com.au/companies/news/206625/bellevue-gold-defines-bonanza-grade-gold-zone-at-company-making-viago-lode-206625.html Bellevue Gold Ltd (ASX:BGL) has intersected further high-grade gold in diamond core drilling at the Viago lode within its Bellevue Gold Project in Western Australia.

The results have confirmed a bonanza-grade zone in the central portion of the lode, with three assays defining an area more than 120 metres wide.

Drilling is ongoing at Viago and downhole electromagnetic (DHEM) survey crews will be defining further drill targets in the coming weeks.

 

Results from the newly defined bonanza zone include: 3 metres at 85.9 g/t gold from 597 metres, including 0.5 metres at 445 g/t; 6.4 metres at 27.9 g/t from 587.6 metres, including 2.8 metres at 62.8 g/t; and a previously-reported assay of 4.3 metres at 58.8 g/t gold from 575.5 metres.

The company also reported further results from Viago including: 6.9 metres at 18 g/t from 535.9 metres, including 0.6 metres at 203.3 g/t; and 2.4 metres at 36.3 g/t.

Bellevue executive director Steve Parsons said the results confirmed the lode system as being of exceptional grade and quality.

“The historic Bellevue mine was one of the stand-out high-grade gold mines of the 1980s and 1990s in Australia.

“The company is now increasingly confident that the Viago and Tribune lodes will continue that legacy well into the future.”

Parsons said the company was moving towards an updated resource estimate this quarter.

Drill intercept of 2.8 metres at 62.8 g/t gold from 587.6 metres  

  READ: Bellevue Gold hits highest grade gold intercept yet at Goldfields project

Bellevue considers the high-grade mineralisation at Viago to be of substantial scale, having been defined over 800 metres of strike and 200 metres across strike.

The mineralisation remains completely open and a mineralised shear zone has been intersected for a further 100 metres of potential strike, with narrow high-grade intervals intercepted in scout holes testing the project’s northern and southern limits.

Multiple untested electromagnetic conductors indicate the potential for multiple repeats of these high-grade zones which Bellevue plans to drill test over the coming months.

Bellevue believes these potential high-grade ore zones are analogous to the zones mined historically which produced 800,000 ounces at 15 g/t between 1986-1996.

READ: Bellevue Gold continues to expand one of the highest grade new gold discoveries in Australia

The bonanza zone is characterised by massive to semi-massive pyrrhotite mineralisation with visible disseminated gold over widths up to several metres.

The remainder of the high-grade drill intercepts from Viago are derived from more quartz dominant intersections, characteristic of the proximal ore-zone locations at the historic mine.

Bellevue’s current geological interpretation is that the high-grade mineralisation forms gently-plunging ore shoots consistent with the high-grade plunges identified at the Tribune lode and the Bellevue mine.

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Mon, 08 Oct 2018 21:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206625/bellevue-gold-defines-bonanza-grade-gold-zone-at-company-making-viago-lode-206625.html
<![CDATA[News - Bellevue Gold has new substantial holder in Bank of Nova Scotia ]]> https://www.proactiveinvestors.com.au/companies/news/206348/bellevue-gold-has-new-substantial-holder-in-bank-of-nova-scotia-206348.html Bellevue Gold Ltd (ASX:BGL) has gained a new substantial shareholder in Canadian multinational bank Bank of Nova Scotia (TSE:BNS).

1832 Asset Management L.P., as manager of the Dynamic/Scotia Funds has acquired a 5.25% stake in Bellevue, with about 21 million shares bought at an average price of 18.43 cents during the period May 29, 2018 to September 28, 2018.

READ: Bellevue Gold hits highest grade gold intercept yet at Goldfields project

The company recently intersected further high-grade gold during step-out diamond drilling at the Tribune and Viago lodes within its Bellevue Gold Project in Western Australia.

The results affirm the company’s belief that both lodes at Bellevue are a substantial high-grade discovery and have delivered the highest gram-metre drill intercept at the project to date.

 

Ongoing drilling near the historical mine aims to build on the maiden JORC inferred resource estimate of 1.9 million tonnes at 8.2 g/t gold containing 500,000 ounces, which comprises only the Tribune lode.

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Thu, 04 Oct 2018 14:52:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206348/bellevue-gold-has-new-substantial-holder-in-bank-of-nova-scotia-206348.html
<![CDATA[News - Bellevue Gold hits highest grade gold intercept yet at Goldfields project ]]> https://www.proactiveinvestors.com.au/companies/news/205701/bellevue-gold-hits-highest-grade-gold-intercept-yet-at-goldfields-project-205701.html Bellevue Gold Ltd (ASX:BGL) has intersected further high-grade gold during step-out diamond drilling at the Tribune and Viago lodes within its Bellevue Gold Project in Western Australia.

The results affirm the company’s belief that both lodes at Bellevue are a substantial high-grade discovery and have delivered the highest gram-metre drill intercept at the project to date.

Ongoing drilling near the historical mine aims to build on the maiden JORC inferred resource estimate of 1.9 million tonnes at 8.2 g/t gold containing 500,000 ounces, which comprises only the Tribune lode.

 

Highlighted results from Viago include: 1 metre at 11.3 g/t gold from 551 metres and 0.6 metres at 28.8 g/t; 2.8 metres at 19 g/t from 571.65 metres; 1.5 metres at 23.9 g/t from 566.3 metres; and 3.35 metres at 37.4 g/t from 566.3 metres, including 0.5 metres at 159 g/t.

The highest gram-metre intercept came from Tribune, grading 10.1 metres at 29 g/t from 188.5 metres including 7 metres at 37.9 g/t.

Tribune also logged 2.1 metres at 9.4 g/t from 299.7 metres.

READ: Bellevue Gold continues to expand one of the highest grade new gold discoveries in Australia

Bellevue executive director Steve Parsons said the recent diamond drilling results had exceptional high-grade gold mineralisation, including the highest the company had seen so far. 

He said: “An exciting aspect of the exploration at Tribune lode has been the downhole electromagnetic (EM) surveying.

“We are now undertaking [EM surveying] at Viago lode and there appears to be an excellent correlation with high-grade gold.

“With three drill rigs on site we anticipate upgrading the recently announced maiden resource estimate of 500,000 at 8.2 g/t gold during the upcoming December quarter 2018.

  READ: Bellevue Gold accelerates drilling at high-grade underground lode Viago

The Viago lode is immediately west of the historic Bellevue Mine and high-grade mineralisation is now defined over a strike of 900 metres, open to the north, south, east and west.

The recently drilled holes are a combination of re-entries and new holes from surface and both Tribune and Viago were consistently intercepted over the known strike length.

Intersections at Viago had quartz sulphide biotite shearing with visible gold characterising the ore intercepts.

Drilling is now focused on the northern 500 metres within the identified strike length at Viago.

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Tue, 25 Sep 2018 22:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205701/bellevue-gold-hits-highest-grade-gold-intercept-yet-at-goldfields-project-205701.html
<![CDATA[News - Bellevue Gold continues to expand one of the highest-grade new gold discoveries in Australia ]]> https://www.proactiveinvestors.com.au/companies/news/204098/bellevue-gold-continues-to-expand-one-of-the-highest-grade-new-gold-discoveries-in-australia-204098.html Bellevue Gold Ltd (ASX:BGL) Is progressing a unique opportunity to unlock the potential of one of Australia's historic high-grade gold mines, the Bellevue Gold Mine in Western Australia.

The mine historically produced about 800,000 ounces of gold at 15 g/t gold.

The last time the mine operated

The project has been forgotten for the last 20 years missing major advances in exploration techniques and the resurgence in gold price in recent times.

Bellevue Gold is the first company to explore the mine systematically for gold using modern techniques in nearly two decades.

Last month, Bellevue confirmed a new gold discovery from recent drill results at the Bellevue Gold Project.

READ: Bellevue Gold confirms deep gold discovery at WA project

Named the Viago lode, the discovery is directly below Bellevue’s underground workings and was defined by scout diamond drilling for 800 metres of strike and remains open.

An exceptional intersection was recorded, hitting 4.3 metres at 58.8 g/t gold from 575.5 metres.

The result is reminiscent of the high-grade bonanza ore shoots at the historical Bellevue mine in geology, grades and width.

READ: Bellevue Gold accelerates drilling at high-grade underground lode Viago

The company is now accelerating its diamond drilling efforts at the new Viago lode discovery.

A second diamond rig has been added to the drilling program for the 800-metre shear strike, with a third rig to come on board next month.

3 x diamond drill rigs currently drilling onsite

Bellevue executive director Steve Parsons said: “Attention of the exploration team has now shifted to defining an initial resource at the exciting Viago discovery and with the addition of two more drill rigs at the Bellevue Gold Project.

“We intend to hit the Viago lode hard over the next couple of months, hoping to build on the recently announced maiden resource inventory at the project in rapid time.”

READ: Bellevue Gold reveals maiden high-grade resource of 500,000 gold ounces

In early August 2018, Bellevue revealed a high-grade maiden resource of 1.9 million tonnes at 8.2 g/t gold for 500,000 ounces at its Bellevue Gold Project.

The resource estimate extends from surface with >90% of the reported resource from surface and within the top 450 metres.

Project camp

The company has achieved the rapid delineation of the maiden resource in only eight months since the first drill holes at the Tribune Lode discovery.

It is worth noting that the resource is located on a granted mining license and in very close proximity to the historical underground mine development and infrastructure.

Moreover, there is significant scope for quick expansion both along strike and at depth with ongoing drilling throughout the remainder of 2018.

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Tue, 04 Sep 2018 16:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204098/bellevue-gold-continues-to-expand-one-of-the-highest-grade-new-gold-discoveries-in-australia-204098.html
<![CDATA[News - Bellevue Gold accelerates drilling at high-grade underground lode Viago ]]> https://www.proactiveinvestors.com.au/companies/news/203647/bellevue-gold-accelerates-drilling-at-high-grade-underground-lode-viago-203647.html Bellevue Gold Ltd (ASX:BGL) has accelerated its diamond drilling efforts at the new Viago lode discovery at the Bellevue Gold Project in Western Australia.

A second diamond rig has been added to the drilling program for the 800-metre shear strike, with a third rig to come on board next month.

Bellevue executive director Steve Parsons said: “Attention of the exploration team has now shifted to defining an initial resource at the exciting Viago discovery and with the addition of two more drill rigs at the Bellevue Gold Project.

“We intend to hit the Viago lode hard over the next couple of months, hoping to build on the recently announced maiden resource inventory at the project in rapid time.”

READ: Bellevue Gold confirms deep gold discovery at WA project

Viago Shear lies beneath the project’s Tribune and Bellevue lodes and returned a number of high-grade results in the past six weeks, including 4.3 metres at 58.8 g/t gold from 575.5 metres.

The standout result was reportedly reminiscent of the high-grade bonanza ore shoots at the historical Bellevue mine in geology, grades and width.

Other highlights included 3.4 metres at 10.4 g/t gold and 2.5 metres at 13.1 g/t gold.

 

Following the finding, the company committed to upgrading its maiden resource estimate for the project, released this month, by the December financial quarter.

The JORC estimate from August sits at 1.9 million tonnes of inferred resources grading 8.2 g/t for 500,000 ounces of gold and does not include the Viago discovery.

Ninety per cent of the resource extends from the surface and are contained in the top 450 metres.

Tribune signals value

Earlier today, Bellevue reported additional drilling results from infill drilling over the Tribune inferred resource estimate area after the company targeted its shallow mineralisation.

Bellevue executive director Parsons said the results demonstrate “the high-grade nature of the mineralisation from surface, which bodes well for development access to an eventual underground operation”.

READ: Bellevue Gold reveals maiden high-grade resource of 500,000 gold ounces

The results included: 5 metres grading 17.3 g/t gold from 46 metres, including 2m at 40.8 g/t gold from 44 metres; and 7 metres grading 8.2 g/t gold from 34 metres, including 4 metres at 13.2 g/t gold from 36 metres.

The West Perth company said it would undertake step-out drilling at Tribune lode, aiming to extend mineralisation along strike and at depth.

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Mon, 27 Aug 2018 21:39:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203647/bellevue-gold-accelerates-drilling-at-high-grade-underground-lode-viago-203647.html
<![CDATA[Media files - Bellevue Gold’s ‘game plan is to keep on drilling’ after second high-grade discovery ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10197/bellevue-golds-game-plan-is-to-keep-on-drilling-after-second-high-grade-discovery-10197.html Wed, 22 Aug 2018 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10197/bellevue-golds-game-plan-is-to-keep-on-drilling-after-second-high-grade-discovery-10197.html <![CDATA[News - Bellevue Gold confirms deep gold discovery at WA project ]]> https://www.proactiveinvestors.com.au/companies/news/202251/bellevue-gold-confirms-deep-gold-discovery-at-wa-project-202251.html Bellevue Gold Ltd (ASX:BGL) has confirmed a new gold discovery from recent drill results at its Bellevue project in Western Australia.

Named the Viago lode, the discovery is directly below Bellevue’s underground workings and was defined by scout diamond drilling for 800 metres of strike and remains open.

An exceptional intersection was recorded, hitting 4.3 metres at 58.8 g/t gold from 575.5 metres.

The result is reminiscent of the high-grade bonanza ore shoots at the historical Bellevue mine in geology, grades and width.

READ: Bellevue Gold reveals maiden high-grade resource of 500,000 gold ounces

Bellevue executive director Steve Parsons said the company was pleased with how the new discovery continued to firm up.

He said: “To have intercepted visible gold mineralisation in all but a single hole with scout drilling over 800 metres of strike length is quite exceptional.

“Now with the receipt of this latest bonanza grade intersection the potential of the Viago Lode is starting to become clear.

“To have a second, high-grade gold discovery in such a short period of time points to the quality of the Bellevue lode system.

“We are very excited to add another drill rig and anticipate we will upgrade the recent maiden resource estimate in Q4 of this year.”

Viago will add to the project’s 500,000 ounces

Nearest drill holes to the high-grade Viago intercept previously returned 3.4 metres at 10.4 g/t and 0.3 metres at 44.4 g/t to the north by 150 metres; and 1.4 metres at 9.6 g/t to the south by 150 metres.

The latest drill result is considered highly significant by Bellevue given the exceptional tenor of mineralisation and the wide spacings of the drill grid.

The intercept is coincident with a significant downhole electromagnetic (DHEM) conductor modelled in the vicinity and points to the veracity of DHEM as a direct targeting method.

A total of four major DHEM conductive plates have been modelling within the Viago shear zone, with the northern and southern-most plates completely untested.

The Viago discovery is not included in Bellevue’s current maiden inferred resource estimate of 500,000 ounces of gold.

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Sun, 05 Aug 2018 23:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202251/bellevue-gold-confirms-deep-gold-discovery-at-wa-project-202251.html
<![CDATA[News - Bellevue Gold reveals maiden high-grade resource of 500,000 gold ounces ]]> https://www.proactiveinvestors.com.au/companies/news/201983/bellevue-gold-reveals-maiden-high-grade-resource-of-500000-gold-ounces-201983.html Bellevue Gold Ltd (ASX:BGL) has revealed a high-grade maiden resource of 1.9 million tonnes at 8.2 g/t gold for 500,000 ounces at its Bellevue Gold Project in Western Australia.

The resource estimate extends from surface with >90% of the reported resource from surface & within the top 450 metres.

Moreover, there is significant scope for quick expansion both along strike and at depth with ongoing drilling throughout the remainder of 2018.

READ: Draig Resources attracts $8 million to fast-track Bellevue Gold Project

Bellevue Gold Ltd recently changed its name from Draig Resources Ltd (ASX:DRG) and is now trading under its new ASX code BGL

The company has achieved the rapid delineation of the maiden resource in only eight months since the first drill holes at the Tribune Lode discovery.

It is worth noting that the resource is located on a granted mining license and in very close proximity to the historical underground mine development and infrastructure.

Bellevue executive director Steve Parsons said: “We are very pleased to be able to report this sizable high-grade maiden independent gold resource estimate for the Bellevue Gold Project.

“We view this very much an interim resource, with significant scope to delineate further high-grade gold ounces from the current step-out drilling underway at both the Tribune Lode and new Bellevue extension discovery.

“With ongoing drilling over the next few months, we anticipate strong news flow and expect to upgrade the resource estimate later this year.”

Upcoming news flow in the second half of 2018

• New high-grade discovery lode step-out and infill drilling – underway;
• Shallow from surface infill drilling of Tribune Lode – underway;
• Step-out drilling of Tribune Lode – underway;
• Numerous brownfields and regional targets to be drill tested; and
• Upgraded resource estimate anticipated in December 2018.

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Wed, 01 Aug 2018 16:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201983/bellevue-gold-reveals-maiden-high-grade-resource-of-500000-gold-ounces-201983.html
<![CDATA[News - Draig Resources attracts $8 million to fast-track Bellevue Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/193273/draig-resources-attracts-8-million-to-fast-track-bellevue-gold-project-193273.html Draig Resources Ltd (ASX:DRG) has completed an oversubscribed share placement to institutional and sophisticated investors to raise $8 million at 20 cents per share.

The placement received strong support from new institutional investors in Australia, Asia and North America as well as strong support from existing institutions and sophisticated investors.

A forgotten treasure

Draig will use the new funds to advance its Bellevue Gold Project located 400 kilometres northwest of Kalgoorlie in Western Australia.

Notably, the historical Bellevue Gold Mine was one of Australia’s highest grade gold mines producing around 800,000 ounces at 15 g/t gold.

READ: Draig Resources aims to unlock the potential of one of Australia’s historic high-grade gold mines

Draig believes Bellevue will provide a significant opportunity to apply modern exploration techniques to a historically significant Western Australian gold mine that is poorly understood and under-explored.

Multiple high priority gold targets identified

Draig commenced exploration at Bellevue in mid-2017 for the first time and only a few months later revealed a new gold discovery at the project.

Recent drilling results from the new Tribune Lode discovery include:

• 7 metres at 27.5 g/t gold from 92 metres (including 5 metres at 37.5 g/t gold);
• 5 metres at 16.5 g/t gold from 25 metres; and
• 12 metres at 12 g/t gold from 68 metres.

Draig will use the new funds to support ongoing exploration activities including a resource estimate which is expected to be released in the third quarter of 2018.

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Fri, 16 Mar 2018 13:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193273/draig-resources-attracts-8-million-to-fast-track-bellevue-gold-project-193273.html
<![CDATA[News - Draig Resources aims to unlock potential of one of Australia’s historic high-grade gold mines ]]> https://www.proactiveinvestors.com.au/companies/news/187461/draig-resources-aims-to-unlock-potential-of-one-of-australias-historic-high-grade-gold-mines Draig Resources Ltd (ASX:DRG) recently delineated multiple high-grade gold lodes at the Bellevue Gold Project in Western Australia.

The project is a known source of gold and historically produced 800,000 ounces at 15g/t gold.

Drilling is currently targeting further shallow high-grade gold, with the program recently yielding: 3 metres at 13.97g/t gold from 32 metres; and 1 metre at 16.54g/t gold from 31 metres.

Shares in the company entered pre-open late in the trading day on Friday following the granting of a trading halt, pending a significant exploration result.

The halt will remain in place until the opening of trade on Tuesday 21st November 2017, or earlier if an announcement is made to the market.

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Mon, 20 Nov 2017 08:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187461/draig-resources-aims-to-unlock-potential-of-one-of-australias-historic-high-grade-gold-mines
<![CDATA[News - Draig Resources bags $3.3M from oversubscribed placement ]]> https://www.proactiveinvestors.com.au/companies/news/182775/draig-resources-bags-33m-from-oversubscribed-placement-182775.html Draig Resources Ltd (ASX:DRG) has raised $3.3 million via the placement of shares to new and existing sophisticated investors at $0.05 each, to be used to explore the company’s Bellevue Gold Project.

The Bellevue project is located 40 kilometres north of Leinster in Western Australia and consists of two granted mining leases.

Following the placement, Draig’s share price has surged by circa 20% and was last trading at $0.071 intra-day.

The Bellevue gold mine was one of Australia’s highest-grade gold mines producing circa 800,000 ounces at 15 g/t gold before it closed in 1997.

Earlier this month, seven shallow high priority geophysical electromagnetic anomalies were identified for immediate follow up.

The funds raised from the placement will be allocated towards the exploration program at the Bellevue project and for general working capital.

Importantly, initial drilling is expected to begin testing the historical tailings area and shallow gold targets this quarter.

Draig is well funded to advance the project, having ended the June quarter with a cash balance of circa $1.7 million.

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Tue, 22 Aug 2017 14:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182775/draig-resources-bags-33m-from-oversubscribed-placement-182775.html
<![CDATA[News - Draig Resources' shares trade at 12-month highs, calls halt for raising ]]> https://www.proactiveinvestors.com.au/companies/news/182637/draig-resources-shares-trade-at-12-month-highs-calls-halt-for-raising-182637.html Draig Resources Ltd's (ASX:DRG) shares are trading at 12-month highs at around A$0.06, which is more than double their valuation at the start of 2017.

Driving the positive re-rating is Draig's opportunity to revisit and unlock the potential of one of Australia's historic great high grade gold mines.

The Bellevue Gold Mine was one of the country’s highest grade gold mines producing around 800,000 ounces at 15g/t gold, and was closed and forgotten for 20 years.

Shares trading halt pending details of capital raising

The project has not benefited from modern exploration and development advances.

Draig is about to change this.

This morning, the company was granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Tuesday 22nd August 2017, or earlier if an announcement is made to the market.

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Fri, 18 Aug 2017 10:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182637/draig-resources-shares-trade-at-12-month-highs-calls-halt-for-raising-182637.html
<![CDATA[News - Draig Resources in an ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/175572/draig-resources-in-an-asx-trading-halt-175572.html Draig Resources (ASX:DRG) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Draig requested the halt pending a management change.

The halt will remain in place until the opening of trade on Friday 31st March 2017, or earlier if an announcement is made to the market.

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Wed, 29 Mar 2017 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175572/draig-resources-in-an-asx-trading-halt-175572.html
<![CDATA[News - Draig Resources Ltd to reveal project acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/165513/draig-resources-ltd-to-reveal-project-acquisition-70497.html Draig Resources Ltd (ASX:DRG) has some interesting news on the table, in the form of a project acquisition.

The ASX has granted Draig a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 19th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 17 Aug 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165513/draig-resources-ltd-to-reveal-project-acquisition-70497.html
<![CDATA[News - Draig Resources heads to market ]]> https://www.proactiveinvestors.com.au/companies/news/135433/draig-resources-heads-to-market-66335.html Draig Resources (ASX:DRG) has been granted a trading halt by the ASX today, pending details of a capital raising.

The halt will remain in place until the opening of trade on Tuesday 29th December 2015, or earlier if an announcement was made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 23 Dec 2015 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135433/draig-resources-heads-to-market-66335.html
<![CDATA[News - Draig Resources trims Mongolian coal tenements ]]> https://www.proactiveinvestors.com.au/companies/news/135432/draig-resources-trims-mongolian-coal-tenements-48296.html Draig Resources (ASX: DRG) has relinquished three of the eight licences its holds in Mongolia under a joint venture with Trinity Mongolia.

The company noted that exploration activities undertaken to date had indicated the 12000X, 10566X and 9116X were not as prospective for coal as was previously thought.

Draig subsidiary BDBL holds a 75% interest in the licence. The company also owns a 16% stake in Trinity.

The recent exploration program of mapping, magnetic survey, trenching and rotary air blast drilling had confirmed coal bearing sediments within the Teeg and Urtnii-Am licences.

Plans are being considered for further exploration on the two licences.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 20 Sep 2013 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135432/draig-resources-trims-mongolian-coal-tenements-48296.html
<![CDATA[News - Draig Resources adds stake in Trinity to Mongolian interests ]]> https://www.proactiveinvestors.com.au/companies/news/135431/draig-resources-adds-stake-in-trinity-to-mongolian-interests-45961.html Draig Resources (ASX: DRG) is focused on emerging coal projects in the under-explored and resource rich country of Mongolia, and has acquired a 16% interest in Trinity Mongolia Pty Ltd - which is a private Australian company.

Through its subsidiaries, Trinity holds a 10% and 15% interest in a joint venture which is the indirect beneficial owner of the eight exploration licences in Mongolia. An indirect wholly owned subsidiary of Draig holds the remaining 75% interest in the joint venture.

Consideration for the interest will be 852,587 shares in Draig, and with the company last trading at $0.037, with the stake currently valued at around $31,500.

Draig has re-positioned itself over the past six months, and going forward the strategy will be firmly on near-surface coking coal in southern Mongolia, which then if sufficient resources can be discovered - the company will look to tap the Chinese market for coal sales.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 25 Jul 2013 09:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135431/draig-resources-adds-stake-in-trinity-to-mongolian-interests-45961.html
<![CDATA[News - Draig Resources greenlights 2013 exploration program at Mongolian coal licence ]]> https://www.proactiveinvestors.com.au/companies/news/135430/draig-resources-greenlights-2013-exploration-program-at-mongolian-coal-licence-43436.html Draig Resources (ASX:DRG) and its joint venture partners have greenlighted the Stage 1 of the 2013 exploration program at their coal exploration licences in Mongolia.

Work to be undertaken as part of Stage 1 includes mapping, ground magnetic surveys and drilling over anomalies identified from previous exploration work done in earlier programs.

The exploration plan is part of the overall exploration initiative to test out new areas of interest among the existing licences.

Draig, via its subsidiary holds 75% interest in the Mongolian Coal Joint Venture that manages eight coal exploration licences.

Four of these licences are located in the Ovorhangay region and four are located in the South Gobi region.

Exploration at Ovorhangay region tenement includes field mapping and trenching at Teeg and Urtnii-Am licences, which will be followed by ground magnetic survey and rotary air blast drilling.

Field mapping and trenching will also be done at Khongor.

In the South Gobi, magnetic survey will be done over Zamt Uul, which will be studied to evaluate previous resistivity data.

Also mapping will done over Gurvantes licences' northern area, while drilling will be undertaken in the south of the licence over anomalies identified from resistivity work carried out in the previous programme.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 17 May 2013 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135430/draig-resources-greenlights-2013-exploration-program-at-mongolian-coal-licence-43436.html
<![CDATA[News - Draig Resources starts Mongolian exploration ]]> https://www.proactiveinvestors.com.au/companies/news/135429/draig-resources-starts-mongolian-exploration-35216.html Draig Resources (ASX: DRG) has started its maiden exploration program at the South Gobi licence and is progressing exploration at the Ovorhangay licence after completing a review of the two Mongolian areas.

The work at South Gobi for the remainder of 2012 includes field mapping and a surface geophysical program using IP resistivity over the Zamt Uul and Gurvantes projects.

This targets several coal prospective areas identified during recent field visits and will include detailed geological mapping and ground geophysics.

Field mapping and ground geophysics work will also be undertaken on the Shavan project while reconnaissance mapping and rock chip sampling is expected to start at the Olomgui licence in November 2012.

Zamt Uul and Gurvantes will be the main focus of exploration due to their compelling proximity to neighbouring projects, geology and infrastructure.   

Draig has identified previously mapped occurrences of gold, copper and molybdenum on both projects.

The company also plans to trial GPR geophysical techniques over its Teeg and Nariin Teeg projects at Ovorhangay.

It had previously established a 75 million tonne Inferred coal resource at Teeg with an exploration target of between 30 million and 160 million tonnes over both Teeg and Nariin Teeg.

The GPR work will be used to identify additional near surface coal horizons and also aid in the mapping of any faulting. The survey aimed at mapping and identifying near surface coal bearing sequences will then be undertaken on the large, under‐explored Khonghor license area.

The results of this survey will be used to develop drill targets for future programs.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 31 Oct 2012 14:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135429/draig-resources-starts-mongolian-exploration-35216.html
<![CDATA[News - Draig Resources intercepts 86 metre thick hard coal seam in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/135428/draig-resources-intercepts-86-metre-thick-hard-coal-seam-in-mongolia-28574.html Draig Resources’ (ASX: DRG) latest drilling on the company’s Teeg licence in Mongolia has returned the thickest coal seam intercepts to date, with apparent thickness of 86.28 metres in one hole.

Phase 1 drilling at Teeg, which is located in the Ovorhangay province, has now been completed.

The 86.28 metre seam was intercepted from a depth of 27 metres. Other thick seams intercepted during the program included one of 66.75 metres and 30 metre thick intercepts in a twin angled core hole.

Samples and cores from the program are at the ALS laboratory in Ulaanbaatar for quality testing, with further tests to be undertaken in Queensland.

Draig has commenced the assimilation of drilling data and plans to begin resource modelling to define a JORC Resource for Teeg.

Planning for the Phase 2 drilling program is underway, with further drilling required to connect the due diligence coal intersection achieved in mid-2011 with the northern extent of the current strike.

If successful, this work could extend the strike length of mineralisation at Teeg to more than 6.5 kilometres.

Phase 2 drilling will also include exploration on the neighbouring Nariin Teeg licence, where geophysics have identified a number of potential coal bearing targets, and at the four South Gobi licences.

Mongolian Office

In a move to strengthen its position in Mongolia, Draig has completed the establishment of an office in the country, and appointed a Mongolia-based general manager.

Terrence Thompson has 25 years of experience in the startup, administration and expansion of domestic and international businesses, including the project management of construction and mining projects.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 08 May 2012 09:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135428/draig-resources-intercepts-86-metre-thick-hard-coal-seam-in-mongolia-28574.html
<![CDATA[News - Draig Resources in pre open pending Mongolian coal exploration results ]]> https://www.proactiveinvestors.com.au/companies/news/135427/draig-resources-in-pre-open-pending-mongolian-coal-exploration-results-27436.html Draig Resources (ASX: DRG) has been granted a trading halt by the ASX to allow the company time to finalise an announcement regarding drilling exploration results from the Teeg licence in Mongolia.

The company has been working towards defining a JORC Resource in the June quarter, focussed on a number of Jurassic coal bearing drill targets within the Teeg and Nariin Teeg coal licences in Mongolia’s Ovorhangay province.

Targets identified at Teeg and Nariin Teeg are relatively shallow and, at Teeg, could potentially include two laterally continuous synclinal features.

Shares in Draig will remain in pre open until the earlier of the release of an announcement to the market or the commencement of normal trading on Thursday April 12.

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Tue, 10 Apr 2012 11:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/135427/draig-resources-in-pre-open-pending-mongolian-coal-exploration-results-27436.html
<![CDATA[News - Draig Resources on the hunt for coal in Mongolia, identifies priority targets ]]> https://www.proactiveinvestors.com.au/companies/news/135426/draig-resources-on-the-hunt-for-coal-in-mongolia-identifies-priority-targets-24957.html Draig Resources (ASX: DRG) has identified numerous Jurassic coal bearing drill targets following a geophysical survey of two of its coal licences in the Ovorhangay province in Mongolia, as it works towards defining a JORC Resource in the June quarter.

The targets identified within the Teeg and Nariin Teeg licences were relatively shallow and, at Teeg, could potentially include two laterally continuous synclinal features.

Drilling on Teeg undertaken by Draig in June 2011 intersected a broad 60 metre coal seam characterised by vitrinite‐rich massive hard black coal in the lower part of the seam.

A separate 40 metres of thick black coal seam was intersected from a depth of 89 metres, of which 30 metres was logged as consistently hard coal.

Importantly, the geophysical field work indicates the potential to define a substantial coal resource at Teeg.

The survey comprised 32 kilometres of geophysical (resistivity) survey work. A total of 12 lines of geophysical survey work were carried out on the Teeg licence and three lines on the Nariin Teeg licence at depths of up to 260 metres.

Draig is currently in talks with drilling contractors to undertake a two‐phase drill program.

Phase one will include 10 drill holes with a combined depth of about 2,200 metres to obtain samples for coal quality testing.

Phase two will aim to increase the resource size based on information from phase one and previous exploration work.


Re-listing

Draig re-listed on the ASX in early January as a new Mongolian coal company following the acquisition of eight highly prospective coal licences.

The company successfully raised A$17 million in new capital. Importantly, Draig now has sufficient funds for its 2012 exploration, further coal acquisitions and necessary working capital.

Drag is seeking further coking coal opportunities in Mongolia and Indonesia.

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Tue, 07 Feb 2012 12:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/135426/draig-resources-on-the-hunt-for-coal-in-mongolia-identifies-priority-targets-24957.html