Bellevue Gold Increases Eponymous Gold Resource

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) has increased the total Resources at the company’s Bellevue gold project in Western Australia.

Bellevue Gold reported a 23 per cent increase to the Resource, taking it to 6.1 million tonnes at 11.3 grams per tonne gold for 2.2 million ounces.

The company explained the increase stems from the declaration of a maiden Resource of 1 million tonnes at 12.3g/t gold for 400,000 ounces at the Deacon Lode.

The Deacon Resource comes from a 900 metres-long central portion of a 1.8-kilometres-long mineralised strike at Deacon.

Bellevue has encountered a number of high-grade intersections along strike of the 900m central zone, including:

3 metres at 12 grams per tonne gold from 571m;

4.5m at 6.6g/t gold from 635.6m;

1m at 23.8g/t gold from 599.8m;

1m at 12.6g/t gold from 735.1m; and

0.4m at 25.5g/t gold from 517m and 0.8m at 8.8g/t gold from 642m (scout 200m step out to North).

These results are to be included in the Resource when the current tighter-spaced drilling program in these areas is finished.

“The increased Resource further strengthens the outlook for our maiden Indicated Resource, which is set for release in the coming quarter,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“It also highlights the immense scope for ongoing growth in the inventory at Bellevue, as shown by the numerous high-grade intersections which remain outside the Resource at Deacon.

“Bellevue now has genuine scale.

“It is in the backyard of Western Australia; it is growing rapidly and it is open in every direction.

“We have eight rigs drilling on site to both increase and upgrade the resource.

“In parallel with this aggressive program, we are about to start technical and economic studies as part of our countdown to becoming a substantial Australian gold producer.”

Bellevue Gold believes there is potential for shallow up dip near surface mineralisation hosted on the Deacon mineralised shear that is now being appraised and will be tested over coming weeks.

The company anticipates completion of a resource upgrade in the second quarter of 2020 which will be supplemented by further resource conversion drilling during the remainder of this year.