Bellevue Gold has unearthed the high-grade Armand lode at its gold project in Western Australia, while pledging to spend $35 million on an upcoming exploration program.
Results from Armand include 4.6 metres at 13.8 grams per tonne of gold from 364.8 metres; 1.9 metres at 58 grams per tonne of gold from 380.5 metres; and 2.3 metres at 27 grams per tonne of gold from 416.3 metres.
The discovery was made over a 450-metre strike that remains open and has been classified as an extension to the Bellevue lode.
Drilling at Armand is ongoing to add the high-grade discovery into the next resource update for this quarter.
“The drilling results on the new Armand lode are outstanding, with high-grade mineralisation intersected near existing development hosted within the Bellevue shear,” Bellevue managing director Steve Parsons said.
“With the mineralisation already outlined over 450 (metres) and remaining open along strike and down dip, we are pressing ahead with drilling with a view to including Armand in our next resource upgrade.”
The company plans to spend $35 million in exploration over the next 15 months, according to Parsons.
“We have earmarked $35 million for exploration spending on a full program of drilling and project development work over the next 15 months,” he said.
“This substantial investment is central to our dual-track strategy of driving growth in our inventory through aggressive exploration and resource drilling while also advancing the project towards development and cashflow.
“These parallel work streams will maximise our ability to continue creating value for shareholders in both the short and long term.”
Bellevue has also drilled the first two holes of a three hole exploration incentive scheme (EIS) program that is co-funded by the Western Australia government, which include results of 1.2 metres at nine grams per tonne of gold from 1057 metres; 1.6 metres at 9.3 grams per tonne of gold from 1096 metres downhole; and 0.4 metres at 42.3 grams per tonne of gold from 646.7 metres downhole.
According to Bellevue, the results indicate the potential for another lode.
“It is still early days in this area, but clearly, there is potential for a new lode to emerge here too,” Parsons said.