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Bellevue Gold drills visible gold at two new exploration targets

An exploration update has revealed two new visible gold targets in two different locations as well as new drill results.

drill core
Visible gold was drilled below the Bellevue Lode and west of the Tribune Lode

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.”

Quick facts: Bellevue Gold Ltd

Price: 0.805 AUD

Market: ASX
Market Cap: $549.05 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