Join our daily newsletter At The Bell to receive exclusive market insights
- Bellevue Gold (BGL) has announced a maiden indicated resource of 860,000 ounces at 11.6g/t gold at its Bellevue Gold Project in Western Australia
- This comes after a significant 240 kilometres of diamond drilling was completed at the project
- The majority of this resource consists of 480,000 ounces at 15.5g/t gold at the Viago and Deacon main resource lodes
- Bellevue is planning a further increase in the indicated resource, with stage two infill drilling underway to upgrade more of the total resource of 2.3 million ounces at 10g/t gold
- Company shares are up 4.64 per cent and are trading for $1.02 each
Bellevue Gold (BGL) has announced a maiden indicated resource of 860,000 ounces at 11.6g/t gold at its Bellevue Gold Project in Western Australia.
The indicated resource forms part of Bellevue’s total 2.3 million-ounce global resource at 10g/t. A total of 860,000 ounces at 11.6g/t makes up the Indicated category and 1.4 million ounces at 9.2g/t makes up the Inferred category.
240 kilometres of diamond drilling has been completed at the project, which has helped shape the maiden indicated resource.
A spectacular higher-grade core of mineralisation, including 480,000 ounces at 15.5g/t gold, hosted at the Viago and Deacon main resource areas make up the majority of the indicated resource.
This mineralisation lies within a few hundred metres of existing development and contains consistent high-grade, high sulphide mineralisation which the company plans to target in the project’s early mine life.
Infill drilling is ongoing as Bellevue aims to increase the indicated resource by the December quarter. The miner’s plan is to convert more of the inferred resource adjacent to high-grade core.
Drilling will also target extensions to the current resources and the recent Government Well discovery which lies just seven kilometres from the existing resource.
“There is also huge potential to continue growing the overall inventory at Bellevue, where the mineralisation remains open in multiple directions and we have numerous well-established targets, some with known mineralisation,” Managing Director Steve Parsons said.
The Government Well prospect reported 17 metres at 4.2g/t gold from 19 metres in the first drill hole of a maiden drilling program. This hole is considered a high-priority follow-up.
Company shares are up 4.64 per cent and are trading for $1.02 each at 11:01 am AEST.
