Bellevue Gold Ltd

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

Significant scope for quick expansion both along strike and at depth with ongoing drilling throughout the remainder of 2018.

project area
Recent high-grade hit of 58.8 g/t gold from 575.5 metres

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.

Quick facts: Bellevue Gold Ltd

Price: $0.55

Market: ASX
Market Cap: $302.97 m

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Bellevue Gold reveals further high-grade upgrade at flagship gold project

Bellevue Gold Ltd's (ASX:BGL) Steve Parsons caught up with Proactive's Andrew Scott after announcing a further high-grade resource upgrade at their project in Western Australia. The latest update incorporates the recent Viago North and Tribune North strike extensions which are in the...

on 11/7/19

3 min read