21 Feb Tribune Lode High Grade Discovery
Bellevue Gold commenced exploration at Bellevue in mid-2017 for the first time and only a few months later announced a new gold discovery at the Project. Recent drilling results from the new Tribune Lode discovery includes:
- 7m @ 27.5g/t gold from 92m (including 5m @ 37.5g/t gold)
- 5m @ 16.5g/t gold from 25m
- 12m @ 12.0g/t gold from 68m
- 15m @ 5.80g/t gold from 79.5m (including 0.3m @ 242.0g/t gold)
- 2.4m @ 21.90g/t gold from 162.8m
Since this new and exciting high-grade gold discovery in December the Company is now drilling out this new gold zone with 3 drill rigs and plans on releasing a maiden JORC resource for the Project in the coming months.
The Tribune Lode discovery although still early days is shaping up to be one of the new high-grade discoveries in Australia in recent times. On the back of the maiden resource the Company intends to commence economic studies with the view to fast tracking development for a high-grade underground and open pit operation.
Step out drilling over 1 kilometre south of the new Tribune lode discovery has intersected further significant drill results which clearly demonstrate the huge potential to define further JORC resources as the project advances over the coming year. Step out drill results include:
- 4.45m @ 22.87g/t gold
- 1.85m @ 25.88g/t gold
Maiden Independent JORC Inferred Resource Estimate at the Bellevue Gold Project1
1.9 Mt @ 8.2 g/t gold for 500,000 ounces
- Gold from surface & open
- +90% in top 450 metres
- Adjacent existing historical underground workings
- Significant scope for quick expansion
- Excellent gold recoveries up to 98.8%
- Rapid time of only 8 months from discovery to maiden resource
- Granted mining licenses & excellent infrastructure.
Significant new discovery outside of the Resource Estimate, currently drilling – results include:
- 4.3 m @ 58.8 g/t gold3
- 2.5 m @ 13.1 g/t gold2
- 3.4 m @ 10.4 g/t gold2
2 x new discoveries so far in record time since exploration commenced by the Company.
3 x drill rigs undertaking step-out & infill drilling.
Multiple high-grade targets beingdrill tested in 2018.
Further gold discoveries are likely.
Fully funded for continued exploration success in 2018 – Ongoing news flow.
Updated Resource Estimate Qtr 4 2018
Significant +4,000km2 strategic landholding on the adjacent Yandal Belt (ASX: EAR / RED / NST / SAR / SBM).