Bellevue Gold upgrades WA project resource by 300,000oz

Bellevue Gold (ASX:BGL) has today grown its indicated resource onsite the WA Bellevue Gold Project acreage by 300,000 ounces of gold to 1.7Moz, up from 1.4Moz. 

Its global resource estimate, an aggregation of inferred and indicated resource estimates, has in turn grown to an upper estimate of 3.1Moz up from 3Moz. 

The Bellevue Gold Project is seeking to exploit high-grade lode-gold deposits located in the Mount Goode Basalt geology. The company is confident in existing geological models defining the geometry of the orebody onsite; this modelling underpins the company's resource estimates. 

The upgrade comes on the back of multiple drilling activities carried out since August 2021 and include updated models for the Deacon North, Deacon Main, Hamilton Henderson and Tribune target areas within the Bellevue Gold Project acreage boundaries. 

Bellevue Gold's share price touched gains of 5.3% to 98cps in early morning trades. 

Schematics detailing Bellevue's drilling activities on-site

Deacon North Lode on the radar

The company's most growth-intensive target on-site for its indicated resources is the Deacon North Lode target with 5 underground drill hole results informing the update resource. 

Ongoing drilling continues to target the southern extension of Deacon North towards the Deacon Main target area. 

Notable unreported intercepts identified in Deacon North include 6.7m @ 16.5 grams of gold per tonne from 477.7m in DDUG0182, and, 4.7m @ 7.2g/t from 538.7m in DDUG0179. 

Move upgrades Life of Mine plan for Bellevue

The indicated resource update will be used by the company to extend its Life of Mine (LOM) plan for the Bellevue Gold Project via an optimisation study being undertaken on the project set for delivery in Q3 of CY22. 

Indicated resource growth is extracted from drilling data conducted in areas proximal to existing targets in the project boundaries reflecting some 1.04Moz mining reserve. 

Drilling continues as optimisation study pending 

Underground drilling continues to progress on-site with two rigs currently targeting further resource conversion drilling. 

Drilling conducted at the project, across RC, diamond and diamond tail drills, totals some 526,800m. 

The Indicated resource includes additional underground drilling of 101 holes at 42,420m of drilling; as well as the inclusion of RC and surface diamond grade drilling in the Tribune target. 

Bellevue Gold's charts across the last six months