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- Bellevue Gold (BGL) has discovered a shallow high-grade shoot, known as Armand, at its namesake project in Western Australia
- Armand has been defined over 450 metres and remains open to the north, down-dip and down-plunge
- The discovery was made during a drilling program which has so far yielded encouraging results, including up to 58 grams per tonne gold
- Additionally, Bellevue is conducting a three-hole drilling program east of the Deacon Shear which has been co-funded by the WA government’s Exploration Incentive Scheme
- Over the next 15 months, Bellevue will invest $35 million on exploration and resource definition at its namesake project
- Company shares are up a slight 0.89 per cent and are trading for $1.14
Bellevue Gold (BGL) has discovered a shallow high-grade shoot at its namesake project in Western Australia.
The new shoot, known as Armand, and is defined over a 450-metre strike length and remains open to the north, down-dip and down-plunge.
Armand was discovered during a drilling program targeting the largely untested northern extent of the Bellevue Gold Project. It seems the newly-discovered mineralisation is similar to the high-grade mineralisation that was previously mined at the historic Bellevue Gold Mine.
Recent significant results from the Armand shoot include 1.9 metres at 58g/t gold from 380.5 metres, 2.3 metres at 27g/t gold from 416.3 metres, 1.9 metres at 29.7g/t gold from 378.8 metres and 4.6 metres at 13.8g/t gold from 364.8 metres.
Additionally, a further infill hole has been completed. So far, it has returned visible gold mineralisation associated with the shoot but assays are pending.
“The drilling results on the new Armand lode are outstanding, with high-grade mineralisation intersected near existing development hosted within the Bellevue Shear,” Managing Director Steve Parsons said.
“With the mineralisation already outlined over 450m and remaining open along strike and down dip, we are pressing ahead with drilling with a view to including Armand in our next resource upgrade,” Steve added.
At the same time, Bellevue has been undertaking a three-hole drilling program east of the Deacon Shear.
Pleasingly, two holes intersected significant mineralisation. Results include 1.2 metres at 9g/t gold from 1057 metres, 1.6 metres at 9.3g/t gold. from 1096 metres downhole and 0.4 metres at 42.3g/t gold from 646.7 metres downhole.
This drilling was co-funded by the West Australian Government’s Exploration Incentive Scheme (EIS).
“It is still early days in this area, but clearly, there is potential for a new lode to emerge here too,” he stated.
Over the next 15 months, Bellevue has budgeted $35 million to fund exploration programs through to quarter four 2021.
Specifically, the money will go towards growing Bellevue’s resource and conversion drilling to upgrade the resource to the indicated category ahead of a reserve growth, underground drilling, as well as drilling at Kathleen Valley and at the Yandal Gold Project.
The Bellevue Gold Project has an existing indicated and inferred resource of 7.03 million tonnes at 10g/t for 2.26 million ounces of gold.
Company shares are up a slight 0.89 per cent and are trading for $1.14 at 11:11 am AEDT.
