Bellevue Gold Upgrades Deacon Lode Resource

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) released infill drilling results from the company’s Bellevue gold project in Western Australia.

Bellevue Gold indicated the results would contribute to an anticipated maiden Indicated Resource at the project.

The company reported the results to include “exceptionally high-grade intersections”, achieved at the Deacon lode, where the Inferred Resource now contributes 410,000 ounces at 12.3 grams per tonne gold of the total Inferred Resource at Bellevue of 2.2 million ounces at 11.3g/t gold.

Results highlighting high grades and continuity of the Central area at Deacon, include:

5.3 metres at 54.5 grams per tonne gold from 650.9m;
1.5m at 168.8g/t gold from 651.7m, including 0.5m at 499.1g/t gold;
2.5m at 49.2g/t gold from 527.8m;
10.3m at 10.7g/t gold from 566.9m;
4.3m at 9.1g/t gold from 701.9m;
2.6m at 10g/t gold from 626m;
1.64m at 48g/t gold from 640m; and
3.3m at 22.5g/t gold from 618.1m.

Additional drilling carried out on the Bellevue Peripheral Lodes (Tribune, Viago, Bellevue), returned:

2m at 64.4g/t gold from 609.1m;
2.9m at 36.5g/t gold from 168.6m;
2.4m at 14.4g/t gold from 124.8m;
0.3m at 1,169.1g/t gold from 100m;
5.6m at 7.5g/t gold from 90.4m; and
1.5m at 89.8g/t gold from 424.1m.

“The extremely high grades and the continuity of the mineralisation augur very well for both the upcoming Resource upgrade and the project’s economics,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The Deacon lode is emerging as a repeat of the adjacent Bellevue deposit, which was well-known for its extensive high-grade mineralisation.

“The mineralisation at Deacon is also characterised by consistent free visible gold and high pyrrhotite percentages.”

Bellevue Gold is now working towards dewatering the existing underground mine to provide access to the underground infrastructure for drilling and eventual development.

Geotechnical, metallurgical and mining studies are also well underway.

“Drilling from underground will enable us to drill at twice the pace and significantly less cost than drilling from surface,” Parsons continued.

“Underground access will also allow us to explore the deposit from different drill positions.

“There is more than $200 million worth of underground development within the 28 kilometres of underground workings and this infrastructure is expected to play a key role in minimising capital costs and lay the pathway for a low level of capital intensity to bring the deposit back into production.”