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- Bellevue Gold (BGL) has increased the indicated resource at its namesake WA project to over one million ounces — a 20 per cent increase on prior estimates
- The upgrade comes from an aggressive infill drilling program at the Deacon and Bellevue North lodes
- The company believes the increased estimate will strengthen the project’s baseline economics, providing for longer mine life and better financial returns
- Drilling will continue across the greater Bellevue project in the hope of further discoveries and resource upgrades
- Bellevue Gold closed Wednesday’s session 6.06 per cent higher at $1.40
Bellevue Gold (BGL) has increased the indicated resource at its namesake WA project to over one million ounces — a 20 per cent increase on prior estimates.
Resource growth
The upgrade comes from an aggressive infill drilling program at the Deacon and Bellevue North lodes.
The total resource at the project now stands at 2.41 million ounces at 10 grams per tonne (g/t) gold, comprising of 1.04 million ounces of indicated resources, and 1.37 million ounces of inferred resources.
Bellevue believes the increased estimate will strengthen the project’s baseline economics, providing for longer mine life, increased production and better financial returns.
Around 46,000 metres of diamond drilling has been completed since the last estimate in July, including infill, extensional and geotechnical drilling.
Bellevue Managing Director Steve Parsons says the project likely has a few more surprises in store.
“To have an indicated resource of this size and this grade and with such immense scope for further increases highlights the underlying strength of the project,” Steve said.
“Despite the huge success we have had, I have no doubt that there is still a lot more high-grade gold to be found at Bellevue,” he stated.
“We are consistently hitting gold along strike and are continuing to find new discoveries with ongoing drilling,” he added.
The updated resource includes the maiden resource from the newly identified Armand Lode, with 100,000 ounces of indicated and 85,000 ounces of inferred resource.
Drilling at Armand continues and the deposit remains open, with further resource upgrades likely.
The company also recently identified another promising prospect at the Maceline Lode — which could rival the Deacon Central area in scope.
The target has been identified as a significant conductor defined over an area of 550 metres by 250 metres.
The discovery hole has been followed up with two further diamond holes. Each has returned small intersections grading over 10g/t gold between 430 metres and 500 metres downhole.
Those results haven’t been included in the recent resource upgrade. Follow-up drilling is planned for the next quarter.
Next steps
Drilling will continue across the greater Bellevue project in the hope of further discoveries and resource upgrades.
The company will target the Viago North, Tribune North, Vlad, Deacon North, Armand, and Maceline lodes, with four rigs on site and a fifth expected soon. As it stands, all lodes remain open along strike.
Bellevue has already drilled 292,000 metres at its namesake project.
With cheaper and more efficient underground drilling kicking off this quarter, the company can likely look forward to more upgrades.
Bellevue Gold closed Wednesday’s session 6.06 per cent higher at $1.40.
