Bellevue Gold Ltd (ASX:BGL) has gained a new substantial shareholder in Canadian multinational bank Bank of Nova Scotia (TSE:BNS).
1832 Asset Management L.P., as manager of the Dynamic/Scotia Funds has acquired a 5.25% stake in Bellevue, with about 21 million shares bought at an average price of 18.43 cents during the period May 29, 2018 to September 28, 2018.
READ: Bellevue Gold hits highest grade gold intercept yet at Goldfields project
The company recently intersected further high-grade gold during step-out diamond drilling at the Tribune and Viago lodes within its Bellevue Gold Project in Western Australia.
The results affirm the company’s belief that both lodes at Bellevue are a substantial high-grade discovery and have delivered the highest gram-metre drill intercept at the project to date.
Ongoing drilling near the historical mine aims to build on the maiden JORC inferred resource estimate of 1.9 million tonnes at 8.2 g/t gold containing 500,000 ounces, which comprises only the Tribune lode.