Bellevue Gold Drilling Results to Contribute to Resources Update

THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Bellevue Gold currently has eight diamond core rigs operating across both exploration and resource infill drilling at the project.

The company declared the recent results from all the resource domains currently targeted with infill drilling have confirmed robust underground mineable widths and grades of the lodes and excellent continuity to the plunging ore shoots.

The latest infill diamond drilling results include:

Viago Lode

4.7 metres at 32.7 grams per tonne gold from 600.7m;

3.2m at 20.8g/t gold from 585.8m; and

4.6m at 10.4g/t gold from 376.5m.

Tribune Lode

5.7m at 17.4g/t gold from 329.3m;

8.2m at 7.9g/t gold from 123.9m; and

2.9m at 36.5g/t gold from 137.4m.

Bellevue Lode

4.3m at 27.6g/t gold from 140.6m;

2.5m at 22.4g/t gold from 116.5m; and

2.4m at 22.8g/t gold from 418.6m and 1.5m at 16.3g/t gold.

Vlad Lode

1.9m at 23.1.4g/t gold from 224.7m;

2.9m at 15.3g/t gold from 184.2m; and

12.5m at 5.5g/t gold from 237m.

Bellevue Gold considers these results important because they strongly support the company’s geological model, which predicts gently-plunging high-grade shoots within the mineralised envelop.

This interpretation is consistent with shoots that were mined at Bellevue underground from 1986 – 1997, when the low prevailing gold price forced the operation to be closed.

The mine produced 800,000 ounces at around 15 grams per tonne in this time.

Bellevue’s independent JORC Inferred Resource currently stands at 1.8 million ounces at 11.1g/t gold.

The company is on track to publish its maiden Indicated Resource next quarter and mining studies are set to commence in the September quarter.

“These outstanding results continue to demonstrate the large potential of this asset,”: Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The grades are very high, the mineralisation is consistent and the geometry is in line with our model.

“These latest results will feed into our coming Indicated Resource estimate, which will go a long way to de-risking the project.

“Drilling is continuing at a frenetic pace with eight rigs operating and we are preparing to start mining studies in the next quarter.

“Everything we are seeing supports our view that Bellevue is set to become a significant WA gold producer with high grades and substantial growth potential.”