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Bellevue Gold Ltd.
Summary
| Project: | Bellevue | |
|---|---|---|
| Deposit: | Bellevue | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-7-2019: Bellevue Gold Ltd. announces a Resource Estimation report for its Bellevue deposit at the Bellevue project. Updated mineral resource estimate. Bellevue Gold Limited (ASX: BGL) is pleased to announce a further high-grade resource upgrade at the | |
| Resources: | (Resource, Inf.): 5.0Mt @ 11.1g/t Au for 1.8Moz Au contained | |
| CP/QP: | [Resources]: Brian Wolfe (Independent) | |
| ABSTRACT: | Bellevue Gold Limited (ASX: BGL) is pleased to announce a further high-grade resource upgrade at the Bellevue Gold Project, Western Australia. The latest update incorporates the recent Viago North and Tribune North strike extensions which are located in the Bellevue Main Lode hanging wall. Drill testing the northern extensions of these zones is currently on hold awaiting approval to drill in the highway reserve, with approval anticipated over the coming weeks. High-grade gold mineralisation remains very much open both north and south at both these lodes. The latest upgrade represents a 25% increase in global tonnes, a 17% increase in contained gold metal and only a 5% reduction in global grade. Mineralisation remains open and further expansion drilling is continuing on site with six diamond core drill rigs currently operating. The current resource reflects the northern continuation of the Tribune and Viago lodes into the Belleve Main Lode hanging wall only. Drilling is ongoing advancing further new high-grade lode discovery areas such as Bellevue South, Viago South and the Hamilton and Henderson Lodes towards resource categorisation. These areas will be included in a future resource update. Managing Director Mr Steve Parsons commented: “We are pleased to provide an updated independent JORC resource estimate for the Bellevue Gold Project which has continued to demonstrate the growth of global resource inventory adjacent to the historic high-grade Bellevue gold mine. Drilling is continuing with 6 x diamond core drill rigs currently operating on site. Work will continue to focus on resource growth following up strike extensions to both the north and south of the known high-grade lodes and to test the major new target directly below the historic Bellevue underground workings. During the next phase of drilling we will also be undertaking a programme to improve the confidence of the existing resources to indicated category in key areas.” Progress on extending the resource to the north in the current update was delayed due to slow turn around for receiving standard departmental approval to drill within a roadside area. The causes of the delays have now been rectified and authorisation is expected imminently to allow drilling to the north of the Tribune and Viago strike extensions. The company has made the decision to release the currently tested portion of the resource consistent with the timing communicated with the market during the previous quarter. It is an exciting time for the company with the resource estimate continuing to grow and early development and permiting works beginning to advance with the addition of a Project Director to the Bellevue team. The company anticipates to continue progress over coming quarters with our growth and derisking strategy to advance the Bellevue Gold Project back into a high grade gold operation” | |
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