Company
ASX: BGL
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.
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The company believes the Bellevue Gold Project has a reasonable prospect of being mined considering the depth, thickness and grades of the deposits and proximity to existing infrastructure such as roads and power.
This appointment follows the appointment made in December 2019 of Craig Jones as chief operating officer.
Phase one resource conversion drilling has targeted the steeply dipping Tribune Lode, the Viago and Vlad gently dipping lodes and mineralisation on the Bellevue Lode system south of the historical underground mine.
The Bellevue Gold Project is 400 kilometres northwest of Kalgoorlie in WA and sits within a high-grade gold and nickel district on the prolific Wiluna-Norseman gold belt.
The company has intersected high-grade gold along 1,800 metres of strike with the Deacon Lode open in all directions.
Drilling continues with eight rigs working recently discovered bonanza grades at the Deacon and Mavis lodes, which are expected to add further resource growth in 2020.
Results have been received for the first 30,000 metres of an ongoing 80,000-metre infill program.
Canaccord Genuity has retained its speculative buy recommendation for Bellevue.
The company finished the September quarter with $32.8 million in cash.
The Deacon and Mavis lodes are 400 metres east of the historical Bellevue mine.
The global capital market group has retained its speculative buy recommendation and $1.00/sh per share price target.
Diamond core drilling outside the current resource area has identified bonanza-grade ore shoots at the new Deacon Lode and confirmed a new parallel Lode named ‘Mavis’.
Tomlinson is also the non-executive chairman of ASX/TSX listed Cardinal Resources and ASX-listed Infinity Lithium Corporation.
The company is rapidly growing its high-grade 1.8 million ounce Bellevue Gold Project.
The broker has retained its speculative buy recommendation and $1.00 per share price target for Bellevue.
The company has been named ‘Best Emerging Company’ at Diggers & Dealers and ‘Explorer of the Year’ by Mining News.
The company has a 1.8 million ounce rapidly growing high-grade gold discovery.
With 6 rigs on site and $35 million in cash to explore with, Macquarie expects Bellevue to present an expanded resource update in 1QCY20.
The drilling confirms the 1.8 million ounce gold deposit grading 11.1 g/t gold continues at depth.
