Bellevue Gold has completed a stage one feasibility study (FS) for its namesake project in Western Australia, with the first gold pour targeted towards the end of 2022.
The company aims to produce 160,000 ounces at Bellevue Gold in the first five years of its 7.4-year initial mine life.
The project is designed have a nameplate capacity of 750,000 tonnes a year, with its conventional gravity and carbon-in-leach processing facility readily expandable.
The company will also opt for conventional mechanised underground mining methods, with underground development already progressing rapidly.
Bellevue is due to commence front-end engineering and design in the June quarter.
The start of early site works will follow in the subsequent quarter.
It is also constructing a 300-room village for the workforce in the second half of the year.
“To be on track to meet all these objectives in such strong fashion shows the exceptional quality of our asset,” Bellevue managing director Steve Parsons said.
“The independent experts have confirmed that Bellevue has an outstanding future underpinned by high-grade mineralisation and the need for nothing more than conventional mining and processing methods.
“This combination is expected to lead to low production costs, strong margins, abundant free cashflow of $190 million a year and stand-out rates of return.”
Bellevue is already targeting growth opportunities, with an updated feasibility study planned for the June quarter to incorporate additional mineralisation. There are now six drill rigs operating at the Bellevue Gold project.
The Bellevue Gold project is forecast to have one of the lowest carbon intensities per ounce of production in Australia’s gold industry.
The project is located in the Sir Samuel region of Western Australia’s north eastern Goldfields.