Bellevue Gold Limited (ASX:BGL) (formerly Draig Resources) is advancing the historic Bellevue Gold Mine in Western Australia which was in its day one of Australia’s highest-grade gold mines, producing 800,000oz @ 15g/t gold.
The Company recently announced a maiden resource of 500,000 oz @ 8.2 g/t gold making it one of the highest grade new discoveries in Australia in recent times. Very high grade drill results announced this month outside of the current resource area, including 4.3 metres @ 58.8 g/t gold demonstrate the huge potential to define further high grade resource ounces.
The historic mine was closed and forgotten for over 20 years and has not benefited from modern exploration and development advances. Bellevue Gold is the first company to apply modern techniques and since exploration commenced in late 2017 the company has discovered two new high grade lodes and anticipates further discovery success as it continues to drill with multiple rigs during the remainder of 2018.
The Bellevue Gold Project is located approximately 30km north of Lienster township and sits in a major gold and nickel producing district with mines such as Jundee (ASX:Northern Star), Agnew & Lawlers (Goldfields), Darlot (ASX:Red 5), Bronzewing (ASX:Echo), & Thunderbox (ASX:Saracen) all in close proximity.
The Company has a highly skilled management team with a track record of discovery success. With a cash balance of $8 million Bellevue Gold Ltd is set to define further high grade ounces rapidly using the drill bit in 2018.