Gold discovery could drive resource upgrade for Bellevue

Bellevue Gold (ASX:BGL) could be on track for a significant resource upgrade after discovering a new high-grade gold lode at its namesake project in Western Australia (reports Stockhead).
9th October 2020
Resources Rising Stars

Bellevue Gold (ASX:BGL) could be on track for a significant resource upgrade after discovering a new high-grade gold lode at its namesake project in Western Australia (reports Stockhead).

The new Armand lode has been defined over a 450m strike that remains open to the north, down-dip and down-plunge by drilling that returned high-grade hits such as 1.9m at 58 grams per tonne (g/t) gold from 380.5m and 3.7m at 26.2g/t gold from 372.3m.

Armand is interpreted to be a previously undiscovered extension of the Bellevue lode and drilling is ongoing to incorporate it into the next resource upgrade that is planned for release in the current quarter.

While this is undoubtably good news for the company, there is potential for more.

The first two holes of a three-hole Western Australia government co-funded EIS drill program has intersected gold at an area east of the Deacon Shear, which could point to the existence of another lode.

Gold mineralisation is associated with quartz-pyrrhotite veining and free gold which is analogous to the Bellevue, Deacon and Viago lodes.

Results from this drilling include 1.2m at 9g/t gold from 1,057m and 1.6m at 9.3g/t gold from 1,096m in the same hole, and 0.4m at 42.3g/t gold from 646.7m.

Managing director Steve Parsons says the latest exploration results vindicate the company’s strategy to maintain an aggressive drilling campaign in parallel with project development.

“We have earmarked $35m for exploration spending on a full program of drilling and project development work over the next 15 months,” he added.

“This substantial investment is central to our dual-track strategy of driving growth in our inventory through aggressive exploration and resource drilling while also advancing the project towards development and cashflow.”

Exploration will include ongoing infill drilling, step-out drilling, resource grade control drilling, and regional exploration at Bellevue, including the high priority Yandal and Kathleen Valley gold projects.

 

Image: Bellevue Gold 

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