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Bellevue Gold remains focused on enhancing and growing namesake gold project in WA

Bellevue intends to grow the resource through step out drilling and has started exploration within the 20 kilometre Bellevue mine corridor.

Bellevue Gold Ltd -
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Bellevue Gold Ltd (ASX:BGL) is focused on enhancing and growing the golden bounty at its namesake Bellevue Gold Project in Western Australia through development plans and aggressive exploration.

The company has established a three-pronged dual exploration and development strategy comprising investment in low capital underground drill platforms and developing towards high grade areas, ongoing exploration to grow the resource and de-risk the development pathway and lastly a $35 million exploration program.

Key exploration activities

Bellevue’s $35 million budget is set to span across 18 months, focusing on simultaneously increasing the indicated category and growing global resource.

Key activities to increase the indicated resource include:

  • Infill drilling to 40 metre x 40 mere spacing;
  • Grade control drilling to de-risk early stage mine schedule;
  • Two drill rigs;
  • Around 30,000 metres of surface drilling; and
  • Around 30,000 metres of underground drilling.

Exploration drilling to increase the global resource will include:

  • Around 42,000 metres of surface drilling;
  • Around 20,000 metres of underground drilling;
  • Around 5,000 metres of EIS drilling focussing on deeper targets; and
  • 10,000 metres of follow-up to recent Government Well discovery targets.

Part of the $35 million exploration spend will utilise existing infrastructure to accelerate exploration and reduce capital intensity of exploration spend.

Bellevue has stated in its latest investor presentation that around $40 million of development capital will give early access to high-grade areas.

The company’s recent $100 million institutional placement to investors provides flexibility to accelerate development and activities at Bellevue, with a view to finalising economic studies in Q1.

Current development timetable

Quick facts: Bellevue Gold Ltd

Price: 1.25 AUD

ASX:BGL
Market: ASX
Market Cap: $1.05 billion
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