Nov 2, 2024

Bellevue Gold Hits 18.4m @ 52.9 g/t Au at Bellevue Gold Project, Western Australia

Introduction:

Bellevue Gold Limited (ASX: BGL) has reported exceptional high-grade gold results from infill drilling at its Bellevue Gold Project in Western Australia, highlighted by 18.4m at 52.9 g/t gold. The results come as the company prepares for first gold production in the coming quarter.

Drill Results:

18.4m @ 52.9 g/t Au (Armand Main area)
11.7m @ 47.9 g/t Au (Armand Main area)
10.2m @ 61.1 g/t Au (Armand Main area)
10.4m @ 36.9 g/t Au (Armand Main area)
5.7m @ 36.3 g/t Au (New easterly dipping discovery at Armand Main)
1.9m @ 99.2 g/t Au (Bellevue South area)
1.8m @ 92.2 g/t Au (Bellevue South area)

Project Overview:

The Bellevue Gold Project is located in Western Australia. The project has a Mineral Reserve grade of 6 g/t gold. Underground mining operations have commenced, with ore development reaching the Bellevue South work area and stoping beginning at Upper Armand. The project benefits from existing infrastructure and is on track for first gold production in Q4 2023.

The current focus is on high-grade areas including Bellevue South, Armand, Marceline and Deacon for the FY2024 production schedule. A new easterly dipping discovery has been made outside the existing Resource at Armand Main, defined over 200m of plunge.

Program Details:

The reported results come from infill and grade control drilling conducted in preparation for the start of mining. Drilling targeted the Bellevue South and Armand Main areas, with a focus on defining high-grade ore shoots. The program has outlined a gently plunging, high-grade ore shoot at Armand Main and confirmed significant mineralization at Bellevue South. Additionally, drilling discovered a new easterly dipping structure at Armand Main that remains open up and down plunge.

Understanding These Results:

The reported intercepts are significantly above the project's Reserve grade of 6 g/t gold, indicating potential for higher-grade zones within the deposit. True widths are estimated to be 60-80% of reported intersections for Armand Main results, and 80-100% for the new Armand footwall zone discovery.

These high-grade results are particularly significant as they come from areas scheduled for early production. The consistency and grade of these intercepts suggest potential for a strong start to gold production and possible upside to the current mine plan.

Management Commentary:

Bellevue Managing Director Darren Stralow stated:

"These results provide a valuable insight into what we can expect as mining ramps up. The grades are well above those in the Reserve estimation and demonstrate why we are very confident about meeting our key targets as we move into production."

Next Steps & Catalysts:

Bellevue Gold is on track to commence gold production in the December 2023 quarter. Stoping has begun at Upper Armand, with development progressing at Bellevue South, Deacon Main, and Marceline.

The company plans to incorporate the newly discovered lode at Armand Main into the FY24 and FY25 mine plan. Further drilling is likely to follow up on the high-grade results and new discovery.

Commodity Outlook:

Gold continues to be a sought-after precious metal, with its value supported by economic uncertainties and its role as a safe-haven asset. The high-grade nature of the Bellevue Gold Project positions it favorably in the current gold market environment.

Conclusion:

The exceptional high-grade results from Bellevue Gold's infill drilling program underscore the potential of the Bellevue Gold Project. With first production imminent and grades significantly above the Reserve estimate, the company appears well-positioned for a strong start to its mining operations. The discovery of a new high-grade zone adds further upside potential to the project.

Sources:

BGL Announcement Link

Additional Figures:

Australia

ASX

Gold

Nov 13, 2024