Project Overview:
The Bellevue Gold Project is located in Western Australia's premier gold mining jurisdiction. Deacon Main represents one of four initial production areas within the project, positioned approximately 400m in the footwall of the historic Bellevue lode which previously produced approximately 800,000 ounces at 13 g/t gold.
The project benefits from excellent infrastructure and is currently transitioning from development to production, with a 1.0Mtpa processing facility nearing completion.
Program Details:
The current infill drilling program targets the top levels of Deacon Main ahead of underground development access. Drilling has confirmed a significant shear zone 4-14m wide with identical controls to high-grade ore shoot development as seen at Bellevue. The mineralization is characterized by massive to semi-massive pyrrhotite associated with high-grade gold.
Understanding These Results:
The reported intersections demonstrate exceptional grade continuity and are particularly significant as they represent close to true width measurements. The results confirm Deacon Main as a geological analogue to the historic Bellevue mine, suggesting strong potential for sustained high-grade production.
The width and grade of intersections indicate robust mining widths suitable for underground extraction, with the high grades providing operational flexibility.
Management Commentary:
Bellevue Managing Director & Chief Executive Officer Darren Stralow stated:
"These great results provide more strong comfort about the outlook for the start of mining at Bellevue. Deacon is one of four early stage mining areas within the project, giving us maximum flexibility and diversification. The high grades and strong continuity add to the de-risking process as we prepare for first production in the coming quarter."
Next Steps & Catalysts:
Underground lateral development is expected to reach the first levels of Deacon in October 2023, completing access to all four FY24 production areas. Infill drilling at Deacon Main is ongoing with several significant intersections pending.
Construction of the processing plant remains on schedule, with first production set for the December 2023 quarter. All major components of the plant have been installed.
Commodity Outlook:
Gold continues to maintain strong fundamentals in the current macroeconomic environment. Western Australia remains one of the world's premier mining jurisdictions, with excellent infrastructure and a supportive regulatory framework.
Conclusion:
The latest results from Deacon Main demonstrate exceptional grades and continuity, potentially de-risking the upcoming mining start-up. With construction on track and multiple high-grade working areas available, Bellevue is well-positioned for its transition to producer status in the December quarter.
Sources:
Bellevue Gold Drill Results Announcement
Additional Figures:
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