- Bellevue Gold (BGL) says there is potential to increase the resource and life of the mine at its namesake project in Western Australia
- The company recently received infill and extensional drilling results showing high-grade gold outside the current resource
- The results will be included in a resource update after the publication of the Stage 2 Feasibility Study in coming weeks
- The study is contemplating a 33 per cent increase to the proposed processing rate of the 1 million tonnes per annum
- Shares are up 1.40 per cent at $1.09 at 12:33 am AEST
Bellevue Gold (BGL) has released a batch of drilling results which it says demonstrate the potential to increase the resource and life of the mine at its namesake project.
The Bellevue Gold Project near Kalgoorlie in Western Australia currently has a global mineral resource of three million ounces of gold at a grade of 9.9 grams of gold per tonne (g/t).
The company recently received infill and extensional drilling results showing high-grade gold outside of the current resource. Intersections from the Armand Lode included a hit of 7.5 metres at 53.3 g/t.
Meanwhile, grade-control drilling at the Tribune lode turned up further high-grade gold intersections, such as eight metres at 21.4 g/t.
The results will be included in a resource update after the publication of the Stage 2 Feasibility Study in coming weeks according to Managing Director Steve Parsons.
“The upcoming Stage 2 Feasibility Study is designed to demonstrate that Bellevue can generate further increases in forecast production and cashflow,” he said.
“We will aim to achieve this by increasing the processing capacity by 33 per cent to 1 million tonnes per annum and including the recently released 1.4 million ounces at 11.0 g/t gold indicated resource.”
“At the same time, we aim to create further value for shareholders by growing the total resource and mine life. These latest results, which are expected to form part of a resource update to be published after the Stage 2 Feasibility Study, show that this strategy is well on track.”
Shares were up 1.40 per cent at $1.09 at 12:33 am AEST.