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- Bellevue Gold (BGL) has completed a maiden mineral resource estimate for the Marceline discovery which is part of the Bellevue Gold Project in WA
- The Marceline lode was only discovered five months ago and now has an initial mineral resource of 310,000 ounces at 9.7g/t gold
- Significantly, this brings the Bellevue Gold Project’s total mineral resource to 8.55 million tonnes at 9.9g/t gold for 2.7 million ounces
- The maiden resource will support a stage two feasibility study, which is currently underway
- Bellevue Gold will now accelerate drilling at the Marceline and nearby Deacon North lodes to potentially upgrade the mineral resource
- Company shares are up a slight 0.57 per cent and are trading at 88.5 cents
Bellevue Gold (BGL) has announced a maiden mineral resource estimate for the Marceline discovery, part of the Bellevue Gold Project in WA.
The Marceline discovery has an initial resource estimate of 310,000 ounces at 9.7g/t gold. This includes an indicated resource of 130,000 ounces at 10.1g/t of gold.
Pleasingly, this brings the Bellevue Gold Project’s total mineral resource estimate to 8.55 million tonnes at 9.9g/t gold for 2.7 million ounces.
The Marceline Lode was discovered in November last year which makes completing a maiden resource in just five months a significant achievement.
Not only does delivering this resource support the stage two feasibility study that’s currently underway, it also supports Bellevue’s strategy of accelerating production and financial returns at its namesake project.
Following today’s update, the company is advancing drilling at Marceline, as well as the adjacent Deacon North area, to grow and upgrade the resource.
Both lodes sit close to planned underground development, which would enable the company to access them at a relatively low cost.
“Their locations in the upper areas of the mine makes them particularly valuable because this means they could have the potential to increase the life of mine production at a relatively low capital cost due to their close proximity to the existing planned underground infrastructure,” Managing Director Steve Parsons said.
The updated stage two feasibility study will include the Marceline area and bring open-pit material from the Tribune, Vanguard and Hamilton lode areas into the ore reserve.
Company shares are up a slight 0.57 per cent and are trading at 88.5 cents at 10:13 am AEST.
