Bellevue Gold Returns Further High-Grade Gold Hits

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) is beavering away at the company’s Bellevue gold project in Western Australia.

Alicanto Minerals Encounters High-Grades in Sweden

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has enjoyed swift success from the maiden exploration program underway in Sweden. Alicanto Minerals announced drilling on the Oxberg and Naverberg VMS (Volcanogenic Massive Sulphide) project within the Bergslagen Mining District of Sweden has returned high-grade results.

Matador Mining Hits High-Grade Gold Intercepts at Window Glass Hill

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) has encountered some high-grade gold hits during an ongoing exploration program at the company’s Cape Ray gold project in Newfoundland, Canada.

NTM Gold Highlights New Gold Trends

THE DRILL SERGEANT: NTM Gold (ASX: NTM) recently completed a 125-hole aircore program at the company’s 100 per cent-owned Redcliffe gold project located near Leonora in Western Australia.


Bellevue Gold Returns Further High-Grade Gold Hits

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) is beavering away at the company’s Bellevue gold project in Western Australia.

Bellevue Gold has a total of eight rigs are currently operating after an additional two further rigs were added to the fleet to drill through to the end of the year.

The company said the drilling is targeting exploration step out at the new Deacon & Mavis Discoveries and to infill areas to upgrade the resource category at the other target areas which currently form the current resource of 1.8 million ounces at 11.1 grams per tonne gold of Inferred category resources.

High-grade gold drill results have continued to flow from ongoing diamond core from infill drilling at the Tribune and Viago Lodes.

Shallow infill drilling the company has completed at Tribune Lode in the top 200 metres from surface has consistently intersected the Lode as expected with numerous high-grade gold results reinforcing the current inferred resource model.

A large portion of the current Tribune Lode inferred resource has now been infilled to 40m by 20m spacing, aimed at increasing the confidence level of the resource to be updated in 2020.

Results include:

9.6 metres at 14.1 grams per tonne gold from 107.9m;

3m at 33g/t gold from 162m;

1.9m at 29.3g/t gold from 58m;

5.2m at 5.4g/t gold from 203m; and

0.6m at 273.5g/t gold from 155m.

Bellevue has also commenced infill drilling at the Viago Lode with drilling to continue over the coming months ready for conversion to a higher resource confidence level in 2020.

Results include

0.7m at 74.8g/t gold from 590.4m;

5m at 11.1g/t gold from 606m; and

3m at 19.8g/t gold from 580.5m.

The company’s infill diamond core drilling program is now underway at the Viago, Bellevue South and Vlad Lodes with two rigs currently operating.

Bellevue has allocated additional resources to the Deacon and Mavis discovery with six rigs targeting step out expansion drilling as well as targeting a number of high-priority off-hole DHEM conductors during the remainder of Q4 2019.

Several new visual drill core intersections have been reported with visible gold from Deacon & Mavis Lodes drilling.

Results expected to be received in the coming weeks.

“Around 35 per cent of the infill drill program has now been completed and we anticipate making significant progress by the end of Quarter one 2020,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Infill drill results continue to demonstrate the quality and high-grade of the Bellevue mineralised gold system.

“The company has also sourced a further two diamond core drill rigs to operate through until the end of 2019 to allow the assessment of what looks like a very large and significant target at the Deacon and Mavis Lodes discovery.

“We now have six drill rigs operating over 1.8 kilometres of strike on this new discovery taking the total rigs to eight on site.

“We are very excited by what we are seeing at the Deacon & Mavis discovery and intend to update the market as further results become available.”





Bellevue Gold Confirms High-Grades at Deacon and Mavis

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) announced further drill results from the recent Deacon and Mavis discovery, located 400 metres east of the company’s historic Bellevue gold mine in Western Australia.

Bellevue Gold said its recent drilling has focussed on extending the mineralisation up dip and along strike with step outs to the north and the south followed by down hole electromagnetic (DHEM) surveying.

Each hole drilled into the Deacon target passes through the Bellevue Lode before entering the new discoveries at Deacon and Mavis.

Bellevue has completed broad spaced step-out drilling it claims has confirmed further high-grade gold mineralisation at the Deacon discovery with an intersection of:

3.8 metres at 13.9 grams per tonne gold in a zone of quartz, pyrrhotite and visible gold mineralization.

The company explained this drill hit is a 160m step-out north of a previously announced result of 3.6m at 18.3g/t gold (DRDD139); and a 260m step-out north of another earlier hit of 4.4m at 62.4g/t gold (DRDD218)

Bellevue has results pending on an even larger 350 metre step-out hole (DRDD242) to the north that has intercepted visible gold mineralisation.

The first step-out drill hole testing 120m up dip (DRDD225) intercepted 0.8m at 36.9g/t gold.

Bellevue indicated the Deacon discovery to be now defined over an area of 1,700mby 260m and remains open in every direction.

The Mavis discovery is located only 60 metres to the east and parallel to Deacon Lode with high-grade gold including a previously announced intercept of 2.2m at 38g/t gold.

Bellevue currently has six diamond core rigs spinning, targeting discovery step-out at Deacon and Mavis Lodes as well as infilling Tribune, Viago and Bellevue Surrounds Lodes.

“The footprint of the Deacon and Mavis discovery continues to expand as exploration progresses with further high-grade drill intersections and significant new untested DHEM conductors defined,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“This discovery is yet another ‘game changer’ at the project, given the significant scale and new entirely untested geological sequence to the east which has opened up exploration in the third dimension.

“The Bellevue mineralisation system is resembling the beginnings of other significant large scale and long-life operating mines in the Goldfields region of Western Australia due to its large mineralised footprint and multiple lodes.

“The DHEM testing has truly been revolutionary for exploration at the project, allowing the rapid ranking of and targeting of prospective structures.

“Our exploration strategy utilising broadly spaced step-out holes followed by the use of DHEM to define the mineralisation panels within the shear network works consistently well for us.

“So far at Deacon over 1.7 kilometres of strike has been defined and numerous large scale untested DHEM conductors remain to be drill tested suggesting significant potential to add further high-grade mineralisation to the resource inventory.”





Bellevue Gold Confirms Deacon and Mavis Gold Discoveries

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) declared that recent diamond core drilling outside of the current resource area at the company’s Bellevue gold project in Western Australia has confirmed its latest gold discovery.

Bellevue Gold said the drilling had identified bonanza grade ore shoots at the new Deacon Lode and while confirming a new parallel Lode named Mavis that contains high-grade gold mineralisation.

The recently identified high-grade Deacon & Mavis Lode system sits directly below the historic Bellevue underground mine in an area previously undrilled.

Mineralisation is open up and down dip as well as north and south along strike, which Bellevue claimed to represent, “yet another major ‘resource drill ready’ target for the company”.

Bellevue Gold has received results for 10 holes from a completed 14 holes targeting the Deacon discovery with Bellevue style biotite shearing which was intercepted in all drill holes with quartz sulphide visible gold mineralisation logged in eight of the holes.

Results from the first seven holes include intercepts of:

4.4 metres at 62.4 grams per tonne gold from 692m;

3.6m at 18.3g/t gold from 654.6m, including 2.2m at 27.8g/t gold from 656m and 2.2m at 38g/t gold, including 1.1m at 75.3g/t gold from 654.6m; (Mavis Lode)

1.8m at 5.9g/t gold from 653m;

2m at 4.2g/t gold from 669m and 2.4m at 4.9g/t gold from 676m;

2.5m at 5.1g/t gold from 753m;

2m at 4.9g/t gold from 748m; and

9.5m at 0.5g/t gold from 594.5m. (Deacon Lode – 300m northern step-out hole)

“These recent high-grade drill results and DHEM conductors confirm the presence of very high-grade gold mineralised shoots within the Deacon Lode analogous to the historic Bellevue mine and our Viago discovery,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“It is important to note, the current drilling is on very broad centres and the results received for the initial few holes over the 1,400 metres of strike have comparable intersections and scale to the adjacent Bellevue Lode that was mined from 1986 to 1997 and produced 800,000 ounces of gold at 15 grams per tonne.”

Bellevue Gold has drilling continuing at the Bellevue project with six diamond rigs operating on double shift.

A total of three rigs are currently testing the new high-grade Deacon and Mavis discoveries and also following up on resource step-out targets.

The remaining three drill rigs have commenced infill on shallow areas to upgrade the resource category.





Bellevue Gold Claims New Gold Discovery

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) made the most of day one of Diggers & Dealers 2019 by announcing a new gold discovery at the company’s Bellevue gold project in Western Australia.

Bellevue Gold said that the first assay results from a major new target area identified in the foot wall to the Bellevue Mine resulted in the a new discovery, which has been named the Deacon Lode, located offset around 400 metres to the east of the base of the historic Bellevue underground mine.

The company explained that exploration drilling has been conducted on 200 to 240 metre spaced drill lines with only a single hole completed on each of the sections from 550 metres depth from surface to about 750 metres below surface.

A total of eight holes have been drilled so far with results received for the first seven holes.

Bellevue style biotite shearing was intercepted in all drillholes with quartz sulphide visible gold mineralisation logged in six of the holes.

Results from the first 7 holes include the following intercepts:

3.6 metres at 18.3 grams per tonne gold from 654.6m, including 2.2m at 27.8g/t gold from 656m;

1.8m at 5.9g/t gold from 653m;

2m at 4.2g/t gold from 669m and 2.4m at 4.9g/t gold from 676m;

2.5m at 5.1g/t gold from 753m; and

2m at 4.9g/t gold from 748m.

Bellevue Gold said the latest results were comparable in tenor to those of the Viago Lode discovery the company made last year at a similar exploration stage.

“The discovery of offset mineralisation in the Bellevue footwall below the historic Bellevue underground workings represents a major milestone in exploration at the Bellevue gold project,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The recent drilling has opened up exploration below the Bellevue mine and confirms the Bellevue system is alive below the limit of the historic mine.

“The strike rate on this first pass broad centres is similar to that at the Bellevue Mine when considered on 200 metre drill spacings and the tenor and size of the DHEM plates is very similar to the historic mine.

“This new discovery despite being offset approximately 400 metres from the base of the old mine the exploration team believes the recent drilling reflects the likely continuation of the Bellevue shear lode system beneath the old mine.

“Following the recent capital raising the company is fully funded to continue with our strategy to continue to expand the extents of the mineralised system in combination with starting to increase confidence in the current 1.8 Million ounce Inferred resource estimate.

“With six diamond core drill rigs operating at the project the company anticipates significant newsflow over the next six to 12 months.”





Bellevue Gold Announces $18.5M Placement

THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) has launched a fully underwritten institutional placement to raise approximately $18.5 million.

Bellevue Gold is offering the placement at 57 cents per share, which represents an 8.8 per cent discount to the closing price of the company’s shares on 23 July 2019 of 62.5 cents per share.

The company declared the placement will strengthen its balance sheet and in conjunction with its existing war chest of $20 million of cash, will enable it to undertake exhaustive infill drilling to further define its existing resource base, in addition to expanding its step-out exploration drilling program over the next 12 months.

The placement is fully underwritten by Canaccord Genuity (Australia) Limited and will result in approximately 32.4 million new fully paid ordinary shares in the company issued to sophisticated, professional and institutional investors.

Bellevue indicated the proceeds from the placement will be used to fast-track several key initiatives at the Bellevue gold project, including ongoing step-out resource growth exploration drilling, an infill drilling program to seek to convert existing inferred resources into measured and indicated resources, and other pre-development activities.

Meanwhile, in conjunction with the placement, the company’s Board members Ray Shorrocks (non-executive chairman), Steve Parsons (managing director) and Michael Naylor (executive director) declared their intention to sell shares in the company at the offer price.

The Director Sell-Down will acount for up to approximately 12 million shares, for total proceeds of up to approximately $6.8 million.

Bellevue highlighted that a portion of the sale proceeds from the Director Sell-Down will be used by Steve Parsons and Ray Shorrocks to exercise outstanding options that they currently hold in Bellevue Gold.

Specifically, Parsons will utilise sale proceeds from the Director Sell-Down to exercise approximately 15 million outstanding options, which will result in him holding approximately twice as many shares in the company as prior to the Director Sell-Down.

“The Director Sell-Down represents the first occasion that the Directors have sold any shares in the company,” Bellevue Gold said in its ASX announcement.

“Furthermore, the company notes that since the appointment of Steve Parsons as a Director on 31 March 2017, the Bellevue Gold share price has appreciated from 3.8 cents to 62.5 cents, representing an approximate 16 fold increase.”





Bellevue Gold Identifies New Targets and Makes New Discovery

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) has been busy at work on the company’s Bellevue gold project in Western Australia.

Bellevue Gold’s recent exploration activities have focused on the project’s Tribune and the Viago Lodes, alongside which the company declared a new discovery at depth in the Bellevue Footwall.

The company has carried out deeper drilling targeting what it considers potential to extend the depth of the Bellevue Lode.

Completion of a WA Government EIS funded, deeper diamond drill hole extended into the Bellevue Footwall intersected a major five-metre biotite shear zone with Bellevue Style mineralisation with visible gold over 1.5m approximately 150m below the underground mine (650m below surface).

Bellevue has identified several DHEM off hole conductors projected along strike that are ready for follow up drill testing.

Drilling of the Viago and Tribune Lodes Resource extension remains ongoing with the Viago Lode extending over 1,400m remaining open north, south and at depth.

The Tribune Lode extends over 1,300m and remains open north, south and at depth.

“The potential for an extension beneath the historic Bellevue mine to host a significant continuation of the mineralised system has been the major exploration target at the project since Bellevue Gold Ltd commenced exploration,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“It is a significant scale target and with no previous drilling completed beneath the 500 to 550 metres below surface level.

“The exploration team is highly encouraged to hit “Bellevue Style Mineralisation” and visible gold in the first hole completed.

“The down hole conductors defined from this maiden drilling are equivalent in size and tenor to the Viago and Bellevue Lodes and we are very excited to have the additional rig on site to test these DHEM conductive plates and step out on the identified shear system at depth over coming weeks.”

The new discovery was made immediately west of the Tribune Lode from drilling undertaken with DHEM that intersected a new, high priority ‘flat lying Viago look-alike’ target immediately west of Tribune Lode.

The first drill hole intersected: 4 metres at 8.3 grams per tonne.

A second step out drill hole 80m to the north intersected a 1.8m zone with abundant visible gold.

“It is also extremely pleasing that we have discovered the next high-grade lode to the west of the Tribune lode, which is in a flat lying orientation similar to the very high-grade Viago discovery last year,” Parsons continued.

“This new lode again reinforces the potential for further discoveries to be defined as we move out from the known Lodes to date.

“At the shallow Tribune and Viago North discoveries step-out drilling has continued to intersect high-grade lode gold mineralisation and has significantly expanded the strike length which still remains open.

“Technical work has commenced to deliver the forecast resource upgrade during Q2 2019.

“It is a sign of the quality of the Bellevue gold project in general that ongoing exploration continues to define new high quality and significant scale targets and maintain discovery momentum as increased step-out drilling is conducted at the project.”





Bellevue Gold Identifies New Near-Mine Gold Targets

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) updated the market on regional exploration activities underway within 20 kilometres of the company’s Bellevue gold deposit in Western Australia.

Bellevue Gold has been busy, developing targets towards initial drill testing implementing a combination of low-cost exploration including mapping, rock chipping and data review of multiple historic data sets.

The company has identified three high-grade gold target areas within the Agnew-Wiluna Greenstone Belt to the immediate north and west of its gold discovery at Bellevue.

The targets include the Government Well prospect, a four-kilometre-long gold trend the company defined by mapping, rock chipping and looking at historical drilling.

Recent rock chip results recorded results of 40 grams per tonne gold, 31.8g/t gold and 31.9 g/t gold.

There has been limited historic drilling undertaken at Government Well, however historical shallow drill results include 2 metres at 19.7g/t gold from 32 m; and 2m at 22.8g/t gold from 8 m.

Recent rock chip results from the Bellevue North West prospect returned 102g/t gold.

There has also been multiple, undrilled, Bellevue Style mineralised veins identified that are ready for drill testing.

Bellevue North West is 1.6km along strike from the recent high-grade drill intercept the company achieved at Tribune Lode of 6.5m at 22.2g/t gold.

The Bellevue West prospect demonstrates multiple new Bellevue Style mineralised veins to the west of current BGL drilling with initial rock chip results of 4.3g/t and 2.9g/t gold.

There has been over 2km of highly anomalous downhole gold identified in historical drilling with Bellevue Lode style mineralisation observed in historical drill chips.

Wide spaced and shallow historical drill results include: 1m at 4.58g/t gold and 1m at 3.25g/t gold.

“In tandem with the company’s resource step-out and extension drilling that is ongoing at the high-grade Bellevue gold deposit the company has also commenced a significant near-mine exploration targeting program over the past few months that has been focussed on developing multiple, high-grade gold targets along strike of the high-grade gold discovery at Bellevue,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Bellevue Gold’s land package includes eighteen kilometres of strike potential of the Bellevue Gold Trend as well as a significant area outside the immediate Bellevue mine that remains highly prospective for repeats and satellite orebodies of which this latest work has focussed on getting these targets into a drill ready state.

“Excitingly, the mineralisation styles and high-grade nature of the identified near mine targets exhibit strong similarities to those observed at the globally significant Bellevue gold deposit.

“With four diamond core drill rigs focussed on delivering an update to the resource estimate in the second quarter of this year the recently identified targets will be subjected to further exploration through a combination of surface and geophysical exploration ahead of initial drill testing in the very near term.”





Bellevue Gold Extends Strike at Viago and Tribune Lodes

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) reported strike extensions to the Viago and Tribune Lodes within the company’s Bellevue gold project in Western Australia.

Recent drilling undertaken on the Tribune Lode has increased strike to over 1,000 metres where it remains open.

Bellevue Gold said the drilling encountered high-grade mineralisation in the Tribune Mineralised Shear, which has now been extended approximately 350 metres north of the original resource envelope (currently 650m of strike length) and a further 50m south and remains completely open.

Diamond drill core hole DRDD111 returned an intersection of 6m at 24.9 grams per tonne gold from 188 metres downhole indicating further high-grade ore shoots 350m to the north hosted in the Tribune Shear.

This intercept is in the hanging-wall to the historic Bellevue Mine while high-grade mineralisation has also been extended further south with the most southern hole drilled at Tribune.

This hole, DRDD112 intersected 6.5m at 22.2g/t gold from 96m down hole.

Bellevue explained the high-grade lode positions at Tribune are defined by plunging ore shoots controlled by fold axes within the shear zone.

These folds at Tribune have an analogous fold asymmetry and plunge lineation to mineralisation at the Bellevue lode located just 300m to the east.

Other drilling has confirmed the Viago Lode discovery by doubling its strike length to 1,400m also remaining open both north and south.

First pass broadly spaced diamond core drilling has extended the initial resource envelope of 750m strike length by approximately 550m to the north in the hanging wall of the Bellevue Mine and a further 200m to the south.

The previously reported Viago resource is 550,000 ounces at 22g/t gold of inferred category resources over a strike length of only 750m.

A downhole EM survey (DHEM) indicated the continuation of the EM plates into this area, which Bellevue says to be are largely untested.

The company said the DHEM plates are similar to what it had encountered during its first pass drilling when it discovered the Viago Lode.

Follow up drilling will now target these DHEM plates.

Five diamond drill core holes intersected the Viago Lode with visible fine-grained gold present in all drill holes.
The most northern hole (DRDD111) intersected 2.6m at 15.4g/t gold from 397.7m.

Hole DRDD128 intersected 2.4m at 15.4g/t gold from 445.4m.

Hole DRDD114 returned 4m at 14.8g/t gold from 544.6m.

To the south, Bellevue has extended the Viago Lode a further 200m with initial broad reconnaissance step-out drilling.

This drilling to the south has shown the Viago Shear to be more split than the northern Viago Shear, often into two or three mineralised shears associated within a much broader and strongly sheared zone.

Here diamond drill hole DRDD101 returned 3.9m at 8.1g/t gold, including 0.35m at 78.2g/t gold.

Hole DRDD120 returned 1.7m at 34.6g/t gold from 623.7m.

“Since the latest resource estimate upgrade at the ‘Bellevue Surrounds’ in January the drill rigs have moved from Bellevue Surrounds resource area and have commenced step-out extensional drilling at the Viago, Tribune and Bellevue Lodes,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“We are extremely excited by this latest round of first pass step-out drill holes that confirm both Viago and Tribune Lodes extend a significant distance both north and south and also that the high-grade mineralisation remains open.

“The discovery of the Viago Lode continuing to the north is extremely encouraging and we are looking forward to the next phase of drilling that will infill and target the high priority DHEM conductors in this new mineralised area.

“There is a startling resemblance of the Viago North drilling to the initial drilling at the Viago discovery prior to the later infill drilling and drill testing of high tenor DHEM conductors.

“We are continuing with four diamond core drill rigs at site to target high priority DHEM targets at Viago North, resource definition as well as further step-out extension drilling at the Tribune, Viago & Bellevue Lodes.

“The company expects to update the Bellevue project resource estimate in the 2nd Quarter this year.

“Ongoing drill results continue to confirm that the Bellevue gold project is a globally significant high-grade gold discovery.”





New Gold Discovery Sharpens Exploration focus

THE INSIDE STORY: Numbers, particularly those that quickly increase Resources, are a cornerstone of exploration activities and for gold play Bellevue Gold (ASX: BGL) the numbers continue to add up.

Bellevue Gold has been rapidly increasing the known gold mineralisation around and along strike of the historic Bellevue Mine underground workings, known as the Bellevue Surrounds, at the company’s Bellevue gold project, located 400 kilometres north west of Kalgoorlie in Western Australia.

The Bellevue gold mine came with some pedigree, having been one of Australia’s highest-grade historical gold mines producing approximately 800,000 ounces of gold at 15 grams per tonne gold before it closed in 1997.

After acquiring the project, Bellevue Gold wasted little time in releasing a maiden 500,000 ounces at 8.2 grams per tonne gold Resource for the project, just to remind market watchers of the project’s existence and the potential it holds for possible rapid growth.

This was followed just two months later with the release of an increased Inferred Resource estimate of 1.04 million ounces at 12.3g/t gold.

This included a maiden estimate for a new discovery made by the company at the Viago Lode, situated less than 150 metres from the historic Bellevue underground workings, of 550,000 ounces at 22g/t gold.

The relatively small amount of work already completed at Viago has already defined a bonanza grade zone in excess of 120m in the central portion of the new discovery zone returning results of:

3m at 85.9 grams per tonne gold from 597m, including 0.5m at 445g/t gold from 598m;

6.4m at 27.9g/t gold from 587.6m, including 2.8m at 62.8g/t gold from 587.6m; and

4.3m at 58.8g/t gold from 575.5m.

The Viago bonanza zone is characterised by massive to semi-massive pyrrhotite mineralisation with visible disseminated gold over widths up to several metres.

Subsequent Down Hole Electro-Magnetic (DHEM) surveying indicated potential for multiple repeats of these high-grade ore zones within the overall mineralised envelope that are analogous to the high-grade ore zones previously mined at Bellevue.

The company holds the scale of high-grade mineralisation at Viago in high regard, with it having been defined over 800m of strike and around 200m across strike and remaining completely open.

The mineralised shear zone has been intersected for a further 100m of potential strike with narrow high-grade intervals intercepted in scout holes testing the northern and southern extremities.

The current geological interpretation is that the high-grade mineralisation forms gently plunging ore shoots consistent with the high-grade plunges identified at the Tribune Lode and the Bellevue Mine.

The company believes recent drilling has proven the Viago Lode could be a company making, high-grade lode style gold discovery.

Even in its ‘newly-discovered’ state, the Viago Lode is an attractive prospect, given that all metal Bellevue reported from the Viago Lode in the Resource upgrade sits between 470m and 590m from surface.

No Resource estimates for previously reported deposits/lodes of the Bellevue project were included in the update.

This provides a good deal of blue sky for any further updates, which Bellevue has flagged to be expected early in 2019 with the company confident of significantly raising the Resource at Bellevue.

“We have just recommenced drilling on site with three drill rigs, and that will soon become four rigs,” Bellevue Gold executive director Steve Parsons told The Resources Roadhouse.

“Those rigs will be stepping out on the Bellevue Lode and stepping out on the Viago Lode.

“So, we expect there to be a fairly positive news flow regarding drilling results over the next few months.

“The next thing will be a Resources upgrade…we said last year that we anticipated a Resource upgrade to be released in the first quarter of this year.

“The Resource currently stands at just over one million ounces at 12 grams per tonne gold and we expect to grow that at the same rate we were able to achieve last year.

“From there we hope to release a further upgrade mid-year, around June or July.”

The current drilling is following up significant results Bellevue achieved from 11 holes it drilled into the Lodes hosted within the historic Bellevue Mineralised Zone directly to the north of the Viago Lode discovery.

That drilling targeted the southern extension of known mineralisation of the unmined section of the Bellevue Lode as well as testing an existing void from earlier stope development undertaken at the Bellevue mine to confirm mineralisation beyond the existing mined areas.

The drilling confirmed the existence of high-grade unmined gold mineralisation that returned highly-encouraging results demonstrating new parallel Lodes only a few metres from the historic Bellevue Underground workings.

Results included:

0.45 metres at 33.2 grams per tonne gold from 313.95m (New Parallel Lode) and 2.4m at 13.1g/t gold from 417.1 m, including 0.7m at 71g/t gold (New Parallel Lode);

1.6m at 12.5g/t gold from 215.5m (New Parallel Lode) and 0.8m at 2g/t gold from 320.4m (Bellevue Lode);

1.3m at 35.2g/t gold from 75.6m (Hamilton Lode) and 3.9m at 16g/t gold from 191.1m (Bellevue Lode);

0.7m at 17g/t gold from 124.9m (New Parallel Lode) and 0.7m at 11.6g/t gold from 160.6m (New Parallel Lode) and 0.6m at 25.6g/t gold from 202.4m (Bellevue Lode);

1.1m at 9.3g/t gold from 143.9m (Hamilton Lode) and 1.2m at 19.3g/t gold from 208.2m (Henderson Lode) and 2.4m at 26.1g/t gold from 269.9m (Bellevue Lode);

3.1m at 5.6g/t gold from 170.8m (Hamilton Lode);

6.4m at 5.4g/t gold from 90.6m (Tribune Lode) and 0.3m at 10.4g/t gold from 378.4m (New Parallel Lode); and

3.5m at 12.3g/t gold from 411.8m (New Parallel Lode).

It is worth noting that this round of drilling also intercepted several previously unknown mineralised positions, extending mineralisation within the Bellevue Shear 230m further south of previously tested extents of the underground workings.

Modelling completed by the company has indicated the Bellevue Shear to be completely open in this direction and as such has emerged as a high-priority follow up drill target.

As essential as its drilling program is to its exploration activities, Bellevue Gold has also been digitizing the project’s historic mined void models and reconstructing the Bellevue mineralised envelope at the old underground mine.

From this the company has determined that a healthy amount of mineralised material was left unmined during the previous operation due to the mining of only the ‘bonanza-style’ super-high-grade ore shoots and leaving the proximal ore behind.

Bellevue Gold was able to verify this theory by contacting previous mine management and completing further analysis of the mine closure resource void model.

A small portion of this remnant material is included in the current Bellevue global resource estimate and the company considers there to be potential to extend the known mineralisation along strike to both the north and south.

“The results from the most recent drilling at the historic Bellevue underground mine area as well as mineralised extensions immediately to the south of the underground workings confirmed our view that a significant amount of high-grade gold mineralisation remains in and around the historic Bellevue Surrounds underground area,” Parsons said.

“This remaining gold mineralisation is also very close to existing underground development infrastructure, which although is currently flooded, won’t be difficult to re-establish.”


Bellevue Gold Limited (ASX: BGL)
…The Short Story

Suite 3, Level 3
24 Outram Street
West Perth, WA, 6005

Ph: +61 8 6424 8077