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Bellevue Gold Raises $100M to Fund Resource Growth and Accelerate Project Development

THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) announced a fully underwritten institutional placement of new fully paid ordinary shares to raise approximately $100 million.

Bellevue Gold will also undertake a non-underwritten Share Purchase Plan to raise up to $20 million.

The monies raised will complement current cash on hand, and will be used to grow resources and accelerate development of the company’s Bellevue gold project in Western Australia.

“Proceeds from the raising will help ensure we can unlock the full value of what is clearly an exceptional asset with extremely high-grades and immense scope for further inventory growth,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“By implementing our dual exploration and development strategy, we will seek to maximise our ability to create value for shareholders through both resource growth and project development.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: admin@bellevuegold.com.au

 

Web: www.bellevuegold.com.au

 

Bellevue Gold Declares Maiden Gold Resource

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) announced a maiden Indicated Resource for the company’s Bellevue gold project in West Australia.

The total Resources of 2.3 million ounces of gold at 10 grams per tonne gold includes Indicated and Inferred components of:

Indicated
860,000 ounces at 11.6g/t gold; and

Inferred
1.4 million ounces at 9.2g/t gold.

Bellevue Gold has completed a total of 240,000 metres of diamond drilling at the project, infilling selected areas of the previous 80m x 80m drill grid on which the Inferred Resources were based.

Included in the Indicated Resource is a higher-grade core of mineralisation including 480,000 ounces at 15.5g/t gold, hosted in the project’s Viago and Deacon Main Resource areas.

This mineralisation is within a few hundred metres of existing development and contains consistent high-grade high sulphide mineralisation that will be targeted in the early mine life at the project.

Infill drilling is ongoing, with an increase to the Indicated Resource expected in the December quarter, which is intended to convert more of the substantial Inferred Resource adjacent to high-grade core as a priority.

Drilling will also target extensions to current Resources and the recent Government Well discovery which is located seven kilometres from the existing Resource as well as other identified Bellevue analogue outcropping targets to the north.

“This Indicated Resource and the increases to come will underpin the economic studies on the project, which are now well underway,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Completion of these studies will mark the transition to the project development phase, which we believe will demonstrate the technical and economic strengths which come from having a large, high-grade project with simple metallurgy and access to existing infrastructure in a Tier-1 location.

“There is also huge potential to continue growing the overall inventory at Bellevue, where the mineralisation remains open in multiple directions and we have numerous well-established targets, some with known mineralisation.

“We are confident that the combination of economic and technical studies and Resource growth will drive further increases in shareholder value.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@bellevuegold.com.au

 

Web: www.bellevuegold.com.au

 

Bellevue Gold Scores Regional High-Grade Gold Hit

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) reported a sizeable high-grade gold hit achieved more than seven kilometres from the company’s Bellevue gold project in Western Australia.

Bellevue Gold completed a four-hole reverse circulation drill program at the Government Well prospect, which although being 7.4 kilometres away is part of the Bellevue gold project.

Government Well is the first target Bellevue has tested within 20km of the under-explored regional Bellevue Trend.

The target was previously rock chipped by Bellevue Gold returning results up to 32 grams per tonne gold from outcropping veins as well as a Sub Audio Magnetic (SAM) survey completed at the prospect in 2019.

The company’s first pass program drilling has focussed on the central 500m of the Government Well prospect, which has been defined over 1.2km by field mapping, following up on previous shallow drilling that had intersected two zones of quartz veining.

The recent drilling encountered two high-grade gold intervals of:

DRRC214
3 metres at 9.7 grams per tonne gold from 19m; and 3m at 11.6g/t gold from 33m within an overall interval of 17m @ 4.2 g/t gold.

Drill hole DRRC217 was collared 180m to the south of DRRC214 and about 20m down dip of the historical drilling and results are still pending for this drillhole.

Bellevue noted DRRC217 intersected pyrite quartz veining with visible gold observed in chips over 1m from 54m.

Follow up diamond drilling is planned at the prospect to determine whether the shallow pyrite is reflective of retrograde pyrhotite mineralisation suitable for targeting with DHEM as is the case at Bellevue or whether it reflects a new mineralisation style at the project.

“This result supports our view that there is huge scope to grow the inventory at Bellevue,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The Bellevue Gold Mine sits within a 20 kilometres-long mineralised corridor which has been subjected to very limited exploration.

“The drilling at Government Well represents our first foray away from the mine area and given the strength of this result, we will conduct follow-up drilling at the first opportunity.”

In concert with the exploration drilling, Bellevue Gold is finalising its upcoming maiden Indicated Resource at Bellevue, where the Inferred Resource currently stands at 2.2 million ounces at 11.3g/t gold, and has initiated economic studies on the project.

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

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.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Bellevue Gold Receives Commitments for $26.5 million Raising

THE BOURSE WHISPERER: Bellevue Gold (ASX: BGL) belied current market sentiment with the announcement of a $26.5 million share placement.

Bellevue Gold signalled the placement would enable it to embark on the next phase of its growth strategy at the company’s Bellevue gold project in Western Australia.

The raising was priced at 30 cents per share and was underpinned by leading Australian and overseas institutions, including existing institutional and sophisticated shareholders.

Bellevue Gold indicated the proceeds of the raising will fund further programs of infill and Resource extension drilling at the Bellevue gold project, economic studies in preparation for development and provide general working capital.

The company recently completed the initial infill drilling at Bellevue and has already given notice of being on track to publish its maiden Indicated Resource in the coming quarter.

Bellevue’s Inferred Resource currently stands at 6.1 million tonnes at 11.3 grams per tonne gold for 2.2 million ounces of gold.

The company’s next rounds of infill drilling will be aimed at achieving ongoing growth in the forthcoming Indicated Resource and growing the overall inventory through step-out drilling and exploration drilling at the two high promising conductors identified at the project’s Deacon lode, among other priority targets.

“To complete a raising such as this in any environment is an excellent achievement but to do it in the current market circumstances is exceptional,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“Under the current budget, we are funded through to mid calendar year 2021.
“The strong support shown by leading institutional investors is a huge endorsement of the Bellevue project and its growth potential.

“The proceeds ensure we have ample cash to continue unlocking the value of this project through infill and resource growth drilling while also undertaking the economic and technical studies which should pave the way for development and production.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

Bellevue Gold Ready to Start Calculating Indicated Resource

THE DRILL SERGEANT: Bellevue Gold (ASX: BGL) completed its first phase of infill drilling at the company’s Bellevue gold project in Western Australia.

Bellevue Gold has completed a total of 94,000 metres of infill drilling at the project that it says has typically supported the existing Inferred Resource model and defined higher-grade shoots within the lode positions, analogous to the historic Bellevue mine.

The company declared it is well on track to publish a maiden Indicated Resource in the June quarter, 2020.

Bellevue currently has an Inferred Resource of 2.2 million ounces at 11.3 grams per tonne gold and the company indicated it expects the drilling, which was designed to upgrade the shallow resource areas and selected deeper lodes to the Indicated category, will result in an upgraded Resource being released once all assays have been received and resource modelling has been completed by an independent consultant.

The Indicated Resource will enable Bellevue to start economic studies and will be supplemented by subsequent infill drilling in other areas.

“With this key drilling program now completed, we can move to finalising a maiden Indicated Resource, which will in turn underpin economic studies,” Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The infill drilling has demonstrated the excellent continuity of gold mineralisation as well as robust grades and widths.

“Now we have completed the first phase of infill drilling ready for the maiden Indicated Resource, two rigs will remain on site, one focused on resource growth and one on further indicated drilling.

“We are also continuing with step-out drilling with the aim of growing the global resource at Bellevue and we plan to drill two highly promising conductors identified recently at the Deacon lode.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

THE DAILY ROADHOUSE

 

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.

 

S2 Resources Identifies New Gold Trend in Finland

THE DRILL SERGEANT: S2 Resources (ASX: S2R) has identified a new gold mineralised trend to the east of the company’s 100 per cent-owned Aarnivalkea gold prospect in northern Finland.

Impact Minerals Enters Broken Hill Alliance MoU

THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) has signed a non-binding Memorandum of Understanding (MoU) with Castillo Copper (ASX:CCZ) and Squadron Resources.

Lithium Australia Lithium Extraction Technology Patent Accepted

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has received a Notice of Acceptance from IP Australia for its LieNA® technology patent application.

 

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:

DRDD3132
3 metres at 12 grams per tonne gold from 571m;

DRDD318
4.5m at 6.6g/t gold from 635.6m;

DRDD314
1m at 23.8g/t gold from 599.8m;

DRDD1162
1m at 12.6g/t gold from 735.1m; and

DRDD368
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.

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au

 

THE DAILY ROADHOUSE 18/2/20

 

Middle Island Resources Grabs More Barkly IOCG Ground

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has been allocated between 19 per cent and 95 per cent of each of four competing exploration licence applications, located within the newly available IOCG-prospective former Barkly moratorium area of the Northern Territory.

Bellevue Gold Drilling Results to Contribute to Resources Update

THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Antipa Minerals and Rio Tinto JV Identifies New Targets at Citadel

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) is advancing its exploration activities at the company’s Citadel project in the Paterson Province of Western Australia.

Alicanto Minerals Intersects Wide Zones of Swedish Mineralisation

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has hit more than 60 metres of strong alteration and disseminated sulphides including chalcopyrite and pyrite with the first diamond core drill hole of a maiden multi-hole drill program at the company’s 100 per cent-owned Wolf Mountain project in Sweden.

 

Bellevue Gold Drilling Results to Contribute to Resources Update

THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Bellevue Gold currently has eight diamond core rigs operating across both exploration and resource infill drilling at the project.

The company declared the recent results from all the resource domains currently targeted with infill drilling have confirmed robust underground mineable widths and grades of the lodes and excellent continuity to the plunging ore shoots.

The latest infill diamond drilling results include:

Viago Lode

DRDD240
4.7 metres at 32.7 grams per tonne gold from 600.7m;

DRDD236
3.2m at 20.8g/t gold from 585.8m; and

DRDD294
4.6m at 10.4g/t gold from 376.5m.

Tribune Lode

DRDD337
5.7m at 17.4g/t gold from 329.3m;

DRDD376
8.2m at 7.9g/t gold from 123.9m; and

DRDD382
2.9m at 36.5g/t gold from 137.4m.

Bellevue Lode

DRDD319
4.3m at 27.6g/t gold from 140.6m;

DRDD306
2.5m at 22.4g/t gold from 116.5m; and

DRDD355
2.4m at 22.8g/t gold from 418.6m and 1.5m at 16.3g/t gold.

Vlad Lode

DRDD349
1.9m at 23.1.4g/t gold from 224.7m;

DRDD350
2.9m at 15.3g/t gold from 184.2m; and

DRDD316
12.5m at 5.5g/t gold from 237m.

Bellevue Gold considers these results important because they strongly support the company’s geological model, which predicts gently-plunging high-grade shoots within the mineralised envelop.

This interpretation is consistent with shoots that were mined at Bellevue underground from 1986 – 1997, when the low prevailing gold price forced the operation to be closed.

The mine produced 800,000 ounces at around 15 grams per tonne in this time.

Bellevue’s independent JORC Inferred Resource currently stands at 1.8 million ounces at 11.1g/t gold.

The company is on track to publish its maiden Indicated Resource next quarter and mining studies are set to commence in the September quarter.

“These outstanding results continue to demonstrate the large potential of this asset,”: Bellevue Gold managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The grades are very high, the mineralisation is consistent and the geometry is in line with our model.

“These latest results will feed into our coming Indicated Resource estimate, which will go a long way to de-risking the project.

“Drilling is continuing at a frenetic pace with eight rigs operating and we are preparing to start mining studies in the next quarter.

“Everything we are seeing supports our view that Bellevue is set to become a significant WA gold producer with high grades and substantial growth potential.”

 

Email: admin@bellevuegold.com.au

Web: www.bellevuegold.com.au