viewBellevue Gold Ltd

Bellevue Gold steps up diamond drilling at namesake project with eight rigs on-site

Results have been received for the first 30,000 metres of an ongoing 80,000-metre infill program.

Bellevue Gold Ltd - Bellevue Gold engages two new diamond drill rigs at the Belleve Gold Project to fast-track drilling program
A total of eight rigs are now operating after two more rigs were added to the fleet

Bellevue Gold Ltd (ASX:BGL) has accelerated diamond drilling at its namesake Bellevue project in WA with an additional two rigs taking the total to eight diamond drill rigs drilling through to the end of the year.

Two of these rigs are continuing the infill drilling while six are focused on the Deacon corridor, including the high-grade Deacon and Mavis discoveries.

Steady progress is being made with about 30,000 metres of infill completed of the current budgeted program of 80,000 metres.

Aim to upgrade inferred resource

This work is aimed at upgrading the project's current inferred resource of 1.8 million ounces at 11.1 g/t gold.

Shares have been up almost 8% to an intra-day high of 50 cents.

BGL's managing director Steve Parsons said: “We are pleased to update the market on the progress of infill drilling at current resource areas at the Bellevue Gold Project.

“Around 35% of the infill drill program has now been completed and we anticipate making significant progress by the end of Q1 2020.

“Infill drill results continue to demonstrate the quality and high-grade of the Bellevue mineralised gold system.”

Tribune Lode results

Shallow infill drilling completed at the Tribune Lode in the top 200 metres from the surface has consistently intersected the lode as expected with numerous high-grade gold results reinforcing the current inferred resource model.

 A large portion of the Tribune Lode 300,000 ounce inferred resource has been infilled to 40 metres by 20 metres with results to be used in resource upgrades in 2020.

Results include:

  • 9.6 metres at 14.1 g/t gold from 107.9 metres;
  • 3 metres at 33 g/t from 162 metres;
  • 1.9 metres at 29.3 g/t from 58 metres; and
  • 5.2 metres at 5.4 g/t from 203 metres.

Viago Lode infill

Infill drilling has also begun at the Viago Lode with drilling to continue over the coming months ready for conversion to a higher resource confidence level in 2020.

Results include:

  • 0.7 metres at 74.8 g/t from 590.4 metres;
  • 5 metres at 11.1 g/t from 606 metres; and
  • 3 metres at 19.8 g/t from 580.5 metres.

Assays are pending for a further 15,000 metres of drilling from the Viago North infill program as well as the Deacon discovery.

Focus on Deacon and Mavis

BGL is focusing much attention on exploration step-out drilling at the new Deacon and Mavis discoveries.

Based on visual indications of gold mineralisation associated with the step-out DHEM plates at Deacon, further resources have been allocated to the target during the remainder of the 2019 drill program.

The Deacon mineralised shear zone represents the fourth known significant mineralised shear zone to host high-grade gold mineralisation in the Bellevue lode system.

All four mineralised shear zones and lodes are within 400 metres of existing underground development and are of similar strike extent.

Expediting drilling

The company has made the decision to expedite drilling at the discovery due to the potential size of the target, analogies with the Bellevue Lode geometry and mineralisation style.

Parsons said, "The company has also sourced a further two diamond core drill rigs to operate through until the end of 2019 to allow the assessment of what looks like a very large and significant target at the Deacon and Mavis Lodes discovery.

"We now have six drill rigs operating over 1.8 kilometres of strike on this new discovery, taking the total rigs to eight on-site.

“We are very excited by what we are seeing at the Deacon & Mavis discoveries and intend to update the market as further results become available.”

Visible gold

Several new significant visual drill core intersections have been reported so far with visible gold from the Deacon and Mavis drilling.

Results are pending for a number of holes from Deacon and a further update on drilling results is anticipated as soon as further results are made available.

Quick facts: Bellevue Gold Ltd

Price: 1.06 AUD

Market: ASX
Market Cap: $831.67 m

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