viewBellevue Gold Ltd

Bellevue Gold discovers new gold lode at depth, shares rise

The drilling confirms the 1.8 million ounce gold deposit grading 11.1 g/t gold continues at depth.

Bellevue Gold Ltd - Bellevue Gold discovers new gold lode at depth, shares rise
Six diamond rigs operating is set to generate strong news flow

Bellevue Gold Ltd (ASX:BGL) has made a new high-grade gold discovery known as the Deacon Lode at depth at its flagship Bellevue Gold Project in Western Australia.

Results from an 8-hole scout program beneath the 12th level of the historical Bellevue Mine has intersected gold mineralisation including 3.6 metres at 18.3 g/t gold from 654.6 metres depth.

Bellevue Style gold mineralisation and shearing was intersected across 1,000 metres of strike and remains open in all directions.

READ: Bellevue Gold has more than 3 million ounces hiding in the shadows: Patersons Securities

Bellevue’s managing director Steve Parsons said: “The discovery of offset mineralisation in the Bellevue footwall below the historic Bellevue underground workings represents a major milestone in exploration at the Bellevue Gold Project.

“The recent drilling has opened up exploration below the Bellevue mine and confirms the Bellevue system is alive below the limit of the historic mine.

“The strike rate on this first pass broad centres is similar to that at the Bellevue Mine when considered on 200 metre drill spacings and the tenor and size of the DHEM plates is very similar to the historic mine.

“This new discovery despite being offset ~400 metres from the base of the old mine the exploration team believes the recent drilling reflects the likely continuation of the Bellevue shear lode system beneath the old mine.

Company fully funded to continue expansion strategy

"Following the recent capital raising the company is fully funded to continue with our strategy to continue to expand the extents of the mineralised system in combination with starting to increase confidence in the current 1.8 Million oz Inferred resource estimate.

"With 6 x diamond core drill rigs operating at the project the company anticipates significant newsflow over the next 6 – 12 months.”

Quick facts: Bellevue Gold Ltd

Price: 1.055 AUD

Market: ASX
Market Cap: $827.75 m

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