THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) made the most of day one of Diggers & Dealers 2019 by announcing a new gold discovery at the company’s Bellevue gold project in Western Australia.
Bellevue Gold said that the first assay results from a major new target area identified in the foot wall to the Bellevue Mine resulted in the a new discovery, which has been named the Deacon Lode, located offset around 400 metres to the east of the base of the historic Bellevue underground mine.
The company explained that exploration drilling has been conducted on 200 to 240 metre spaced drill lines with only a single hole completed on each of the sections from 550 metres depth from surface to about 750 metres below surface.
A total of eight holes have been drilled so far with results received for the first seven holes.
Bellevue style biotite shearing was intercepted in all drillholes with quartz sulphide visible gold mineralisation logged in six of the holes.
Results from the first 7 holes include the following intercepts:
3.6 metres at 18.3 grams per tonne gold from 654.6m, including 2.2m at 27.8g/t gold from 656m;
1.8m at 5.9g/t gold from 653m;
2m at 4.2g/t gold from 669m and 2.4m at 4.9g/t gold from 676m;
2.5m at 5.1g/t gold from 753m; and
2m at 4.9g/t gold from 748m.
Bellevue Gold said the latest results were comparable in tenor to those of the Viago Lode discovery the company made last year at a similar exploration stage.
“The discovery of offset mineralisation in the Bellevue footwall below the historic Bellevue underground workings represents a major milestone in exploration at the Bellevue gold project,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“The recent drilling has opened up exploration below the Bellevue mine and confirms the Bellevue system is alive below the limit of the historic mine.
“The strike rate on this first pass broad centres is similar to that at the Bellevue Mine when considered on 200 metre drill spacings and the tenor and size of the DHEM plates is very similar to the historic mine.
“This new discovery despite being offset approximately 400 metres from the base of the old mine the exploration team believes the recent drilling reflects the likely continuation of the Bellevue shear lode system beneath the old mine.
“Following the recent capital raising the company is fully funded to continue with our strategy to continue to expand the extents of the mineralised system in combination with starting to increase confidence in the current 1.8 Million ounce Inferred resource estimate.
“With six diamond core drill rigs operating at the project the company anticipates significant newsflow over the next six to 12 months.”