viewBellevue Gold Ltd

Bellevue Gold’s high-grade results expected to add to project’s golden bounty

The company has intersected high-grade gold along 1,800 metres of strike with the Deacon Lode open in all directions.

Bellevue Gold Ltd - Bellevue Gold’s high-grade results expected to add to project’s golden bounty
Establishing a dewatering pipeline for dewatering the underground workings

Bellevue Gold Ltd (ASX:BGL) is set to add to its golden bounty at the Bellevue project in WA after extensional drilling at Deacon discovery returned further high-grade results.

High-grade mineralisation has now been intersected along 1,800 metres of strike at Deacon with new step-out drilling confirming the lode is open in all directions.

Multiple high-grade positions have been intersected with best results of 2.3 metres at 39.0 g/t from 819 metres, 3.0 metres at 10.4 g/t from 587.5 metres and 3.0 metres at 12.0 g/t from 571 metres.

Eight rigs in action

Eight drill rigs are targeting a maiden resource for the Deacon discovery, which is in the footwall of the historic Bellevue Mine, as well as focusing on converting inferred resources into the higher indicated category in 2020.

Bellevue Gold’s managing director Steve Parsons said, “These latest results from the Deacon lode continue to deliver significant intercepts along the 1,800 metres of defined strike at Deacon.

“Drilling has focused on following up the previously untested DHEM plates within the mineralised shear corridor which have all demonstrated a correlation with significant gold mineralisation.

“Recently completed step-out drilling is undergoing DHEM surveying with assays pending.”

High-grade results

Other results from the latest Deacon drilling include 0.8 metres at 69.2 g/t from 577.8 metres and 1.1 metres at 22.2 g/t from 658.9 metres.

The results are north and south of the originally tested 500 x 200-metre central downhole electromagnetic (DHEM) plate.

Previous results from this target include 4.4 metres at 62.4 g/t from 692.5 metres and 3.6 metres at 18.3 g/t from 654.6 metres.

Further results pending

Results have been received for a further 13 diamond holes at the target with results pending for a further seven.

DHEM surveys are being undertaken to define further high-grade targets while the exploration team is working through a backlog of drill core of which a number of step-out holes include visible gold intersections.

Plan of the Bellevue Lode System showing recent drill collars and DHEM targets at the Deacon discovery.

Bellevue Lode results

Further results were also received from the Bellevue Lode Extensions, including 2.8 metres at 46.9 g/t from 175 metres, 1.5 metres at 36.4 g/t from 233 metres, 3.0 metres at 19.8 g/t from 580.5 metres and 2.5 metres at 22.4 g/t from 116 metres.

Drilling targeting Deacon Lode passes through the Bellevue Lode with a second parallel lode named the Mavis Lode around 40 metres further to the east in the Deacon footwall.

Fourth shear zone

The Deacon mineralised shear is the fourth major mineralised shear zone discovered in the project to date and all are within a few hundred metres of existing development.

Other major mineralised shears are Bellevue Shear with an inferred resource of 700,000 ounces, Tribune Shear with an inferred resource of 300,000 ounces and Viago Shear with 700,000 inferred ounces.

Bellevue global inferred category resource domains at a 3.5 g/t cut-off.

Parsons said, “Exploration activities at Bellevue continue to maintain momentum with infill and extensional drilling continuing into the New Year with eight diamond drill rigs on site.

“Drilling is focusing on de-risking the current inferred resources into the higher level indicated category as well as targeting new areas of strike extension that will aim to grow the global Bellevue resource in 2020.”

COO appointed

The recent addition of Craig Jones as chief operating officer is expected to assist the company as it advances the project from exploration to feasibility and development.

With this appointment, the company has started early works to allow dewatering and re-establishment of access to the historic underground Bellevue mine.

The dewatering is fully permitted and work on-site has commenced to establish water pipelines and associated infrastructure required to begin the process.

Dewatering benefits

There are a number of benefits in dewatering the underground mine as the company moves towards development of the project:

  • +28,000 metres of existing underground mine development;
  • Lower cost drilling for measured and indicated category resources;
  • Lower cost and quicker drilling of Deacon and Mavis discoveries;
  • Access for drilling resource extensions to the south under a lake;
  • Development ready for future mining options; and
  • Potential options for the extraction of unmined remnant Bellevue Lode mineralisation.

Parsons added, “Early site works have commenced to establish the required infrastructure to dewater the Bellevue mine, with dewatering scheduled to commence in first quarter 2020.”

Bellevue Gold expects the dewatering will take 4-6 months to complete.

The project site near Leinster will remain fully operational over the Christmas/New Year period with a reduced drill fleet continuing before the resumption of the full exploration program in the first week of January.

Shares have been up 4% to an intra-day high of 52 cents, up from 45 cents on November 21.

Quick facts: Bellevue Gold Ltd

Price: 0.4 AUD

Market: ASX
Market Cap: $235.97 m

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