Gold: High-grade Bellevue keeps getting deeper, wider and longer

Can’t wrap your head around the potential size of Bellevue Gold’s namesake project? You’re not alone.

The current high grade, 1.53m oz resource will be updated in the second quarter 2019 but still, the company keeps finding more gold in every direction.

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Just look at this beast:

Today, Bellevue announced a new, high priority discovery described as a “flat lying Viago look-alike”.

Bellevue’s 550,000oz Viago lode is one of the world’s highest-grade deposits, grading 22 grams per tonne.

And importantly, the explorer can’t find where the gold ends at Viago, which extends over 1400 metres and remains open north, south and at depth.

Drilling there and at the Tribune lode (which is 1300m long and growing) is ongoing.

But that’s not all, because a WA Government funded, deeper diamond drill hole has intersected “Bellevue style” mineralisation with visible gold about 150 metres below the historic underground mine – or 650 metres below surface.

The potential for an extension beneath the historic 800,000oz Bellevue mine has been the major target since Bellevue Gold commenced exploration, says Bellevue managing director Steve Parsons.

“It is a significant scale target and with no previous drilling completed beneath the 500-550 metres below surface level,” he says.

“The down hole conductors defined from this maiden drilling are equivalent in size and tenor to the Viago and Bellevue lodes, and we are very excited to have the additional (5) rig on site to test these DHEM conductive plates and step out on the identified shear system at depth over coming weeks.”

It’s no wonder the majors want a piece of Bellevue Gold.

In April, Bellevue confirmed takeover speculation raised in an Australian article.

It told investors that Canaccord Genuity had been appointed as its financial advisor “to deal with any interest expressed by third parties in relation to Bellevue or the company’s Bellevue Gold Project”.

The Bellevue Gold share price is up 229 per cent over the past 12 months. A takeover offer from a major miner could push it even higher.

In other ASX gold news today:

WA-based Terrain Minerals (ASX:TMX) is exploring a tenement called Wild Viper. Surrounding Terrain’s more advanced Great Western gold project near Leonora, Wild Viper contains “multiple potential targets” the company says. But is it as cool as it sounds? Terrain plans to find out; a 640m trenching program is expected to kick off mid-year 2019 to identify potential drilling targets.

Apollo (ASX:AOP) say the Duchess prospect has returned “strong and consistent gold intercepts”, including 34m @ 1.88g/t Au from 111m. Duchess is one of the targets being drilled as part of a 20,000m drilling program at the Lake Rebecca Gold Project, 150km east of Kalgoorlie in Western Australia. It’s showing real exploration promise, the company says, with multiple shallow mineralised surfaces evident in an area at least 800m long and 400m wide.

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