Bellevue Gold Ltd (ASX:BGL) is advancing the historical Bellevue Gold Mine in Western Australia, a site that was once one of Australia’s highest-grade gold mines, producing 800,000 ounces at 15 g/t gold from 1986 to 1997.
The company has a resource of 3 million ounces at 9.9 g/t gold, including an indicated resource of 1.4 million ounces at 11 g/t, making it one of the highest-grade undeveloped gold discoveries in the world.
Bellevue hopes to join Australia's fleet of gold producers in 2022.
While project funding discussions continue to progress rapidly with 12 indicative proposals received from lenders, the new resource is set to underpin the upgraded stage-2 study anticipated for release this quarter.
The gold price has hit record levels in multiple jurisdictions, including the US