THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) declared discovery of a new shallow high-grade shoot at the company’s Bellevue gold project in Western Australia.
Bellevue Gold reported the new high-grade Armand lode was discovered at the Bellevue gold project from recent drilling that returned a host of high-grade results over a 450 metres strike that remains open to the north, down dip and down plunge.
The results include:
4.6 metres at 13.8 grams per tonne gold from 364.8m;
1.9m at 58g/t gold from 380.5m;
2.3m at 27g/t gold from 416.3m;
1.9m at 29.7g/t gold from 378.8m;
2.1m at 9.8g/t gold from 369.1m; and
1.5m at 14.6g/t gold from 352.2m.
Bellevue indicated it has defined the Armand lode as a previously undiscovered extension of the historic Bellevue lode.
Drilling will continue with the view to incorporate the new high-grade shoot into the next Resource update the company has planned for the current quarter.
“The drilling results on the new Armand lode are outstanding, with high-grade mineralisation intersected near existing development hosted within the Bellevue Shear,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“With the mineralisation already outlined over 450 metres 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.
“At the same time, we have hit high-grade gold in another new position with our recently granted EIS co-funded drilling in close proximity to the east of the Deacon lode.
“It is still early days in this area, but clearly, there is potential for a new lode to emerge here too.”
Parson’s confidence seems well pointed with recent drilling on the Deacon lode encountering mineralisation analogous to the Bellevue, Deacon and Viago lodes in two of three EIS co-funded holes recently drilled as extensions of existing drill holes, testing the potential for conjugate faulting repeats of the Bellevue Lode system to the east of Deacon lode.
1.2m at 9g/t gold from 1057m and 1.6m at 9.3g/t gold from 1096m downhole; and
0.4m at 42.3 g/t gold from 646.7m downhole.
“We have earmarked $35 million for exploration spending on a full program of drilling and project development work over the next 15 months,” Parsons explained.
“This substantial investment is central to our dual-track strategy of driving growth in our inventory through aggressive exploration and resource drilling while also advancing the project towards development and cashflow.
“These parallel work streams will maximise our ability to continue creating value for shareholders in both the short and long term.”