THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) upped the Global Resource of the company’s Bellevue gold project in Western Australia 2.7 million ounces at 9.9 grams per tonne gold.
The increase came courtesy of a Maiden Resource of 310,000 ounces at 9.7g/t at the recent Marceline discovery, including Indicated Resources of 130,000 ounces at 10.1g/t gold, pointing to potential increase in production and project economics.
The Marceline Lode was only discovered by the company late last year, since when it has been the subject of an aggressive drill program.
Five months later, Bellevue has defined maiden Indicated and Inferred Resources for Marceline, with drilling continuing as the lode remains open in every direction.
The Marceline discovery consists of multiple parallel westerly dipping lodes hosted in the northern end of the Deacon Structure.
“These newly discovered Resources have the potential to have a positive impact on the project’s economics, due to their location sitting closer to surface” Bellevue Gold managing director Steve Parsons said in the company’s ASX announcment.
“They already contain substantial Resources and have scope for rapid growth given that the mineralisation remains open in every direction.
“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.
“This all points to the potential to increase financial returns, including free cashflow and economics, for the project.
“Given this outlook, we are accelerating the drilling program with the aim of increasing and upgrading these areas for inclusion in the Stage Two Feasibility Study now underway.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE