THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) reminded everybody of how well it is travelling at the moment by releasing an update on exploration activities at the company’s Bellevue gold project in Western Australia.
Bellevue Gold is currently undertaking exploration drilling at the project with two diamond core drill rigs operating on double shift and a third rig due to arrive anon.
The company is well-funded following a recent $15 million capital raise, allowing it to aggressively continue resource expansion through step-out drilling in the top 500 metres to build on the current 1,040,000 ounces at 12.3 grams per tonne gold Inferred category resource in early 2019.
Bellevue Gold has outlined its focus of the resource expansion drilling for 2019 aiming its attention at three advanced targets:
Bellevue Lode: nearby extensions to the north and south of the Bellevue underground mine as well as a few unmined areas proximal to existing underground development. There are also several recently identified and untested Down Hole Electro-Magnetic (DHEM) conductors.
Viago Lode: drilling is underway targeting step-out down plunge and down dip as well as multiple (DHEM) conductors.
Northern Bellevue: depth extensions in the top 250 metres north of Bellevue workings targeting shallow dipping mineralisation intercepted in historic shallow broad spaced drilling.
Recent drilling since the Viago maiden resource (550,000 ounces at 22g/t gold Inferred resource) has been focussed on extensions of lodes adjacent to the Bellevue historical development.
Drill core holes are currently being marked up and cut ready for assaying, and visible gold has been noted over multiple intercepts.
The company indicated it would now turn its attention to the Viago discovery, targeting extensions of the high-grade lode.
Results from recent drilling will be made available to the market at the first opportunity.
“We are delighted at how rapidly the team is discovering and adding high-grade gold ounces at the Bellevue gold project,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“With the recent oversubscribed placement to a number of significant global institutions we are well funded to continue step-out extensional drilling with multiple drill rigs ready for an updated resource statement in Q1 2019.”