Bellevue fast tracks resource upgrade after high grade gold hits
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Exploration success story Bellevue Gold has hit grades of up to 35 grams per tonne of gold in an un-mined area at its namesake project in Western Australia.
Bellevue (ASX:BGL) will fast track a resource upgrade for early 2019 at Bellevue Surrounds, located around the historic Bellevue mine underground workings.
Recent drilling returned results including 2.4 m at 26.1 g/t gold from 269.89 m, and 1.3 m at 35.2 g/t gold from 75.6 m.
The Bellevue share price – which has exploded from 12c to highs of 52c over the last 12 months — was up 4.5 per cent in early trade to 46c.
Bellevue managing director Steve Parsons said recent drilling confirmed there was a significant amount of high-grade gold mineralisation remaining in and around the historic Bellevue underground area (Bellevue Surrounds).
“This remaining gold mineralisation is in close proximity to existing underground development infrastructure (currently flooded),” he told investors.
An updated resource for Bellevue Surrounds would add to the inferred resource estimate for the Bellevue Gold Project, which currently stands at 1.04 million ounces at 12.3 g/t gold.
Four drill rigs are currently extending the super high grade Viago Lode and targeting extensions of the Bellevue Mineralised Shear Zone.
“There are also a number of exciting targets we are following up and look forward to updating the market further on these over coming weeks,” Mr Parsons said.