Bellevue hits more gold, fast tracks resource update
ASX listed Bellevue Gold is accelerating an updated resource estimate for its namesake gold project near Leinster in WA to the first quarter of 2019 thanks to ongoing high grade drilling results.
Notable results from the latest round of drilling in the Bellevue Surrounds mineralised area are 2.4 metres grading 26.1 grams per tonne gold from 269.89m down-hole, 3.9m @ 16g/t gold from 197m and 1.3m @ 35.2g/t gold from 75.6m.
This includes new parallel lodes located close to the historic Bellevue underground workings.
Management said this is expected to add to the existing mineral resource of 1.04 million ounces of gold at an exceptional grade of 12.3g/t.
Drilling has also confirmed that the Bellevue lode extends a further 230m south of historic underground workings with assays returning 2.4m @ 13.1g/t gold from 417.1m and 3.5m @ 12.3g/t gold from 411.8m.
Importantly, the gold mineralisation remains open in this direction, making it a high priority drilling target.
Assays are also pending on the first three holes drilled to test an extension of the Viago shear zone, which has an inferred resource of 550,000 ounces of gold grading 22g/t gold.
All three holes intercepted the Viago Lode with visible gold also noted in one hole.
Bellevue has now secured a fourth diamond rig to fast track resource extension development drilling and target new discoveries at the project.
Managing Director Steve Parsons said: “The results from the recent drilling at the historic Bellevue underground mine area as well as mineralised extensions immediately to the south of the underground workings have confirmed the company’s view that there is significant amount of high-grade gold mineralisation remaining in and around the historic Bellevue underground area, known as the Bellevue Surrounds.”
“Resource estimation work is now underway on the Bellevue Surrounds mineralised area which we expect to be able to bring into resource category in early first quarter 2019.”
The main Bellevue lode produced around 700,000 ounces of gold before it ceased production in 1997 at a very impressive half an ounce to the tonne.
Bellevue believes that a significant amount of mineralisation was left unmined two decades ago as the low prevailing gold price at the time meant that only the “bonanza” style, super high-grade shoots made it to the ROM pad.
This view appears to have been validated by the drilling results to date and the updated resource, which is scheduled for release in the first quarter of next year, will provide a much clearer picture of just how good the Bellevue project is.