Bellevue Gold will transition to the project development phase at the Bellevue gold project in Western Australia after confirming a high-grade resource.
The maiden indicated resource, located in the Viago and Deacon Main resource areas, features a high-grade mineralisation core of 860,000 ounces at 11.6 grams per tonne of gold, as estimated by an independent consultant.
Bellevue is anticipating a further increase in the indicated resource in the December quarter, with stage two infill drilling standing at 2.3 million ounces at 10 grams per tonne of gold.
Bellevue managing director Steve Parson said the project offered strong potential to increase the company’s inventory.
“This indicated resource and the increases to come will underpin the economic studies on the project, which are now well underway,” he said.
“Completion of these studies will mark the transition to the project development phase, which we believe will demonstrate the technical and economic strengths which come from having a large, high-grade project with simple metallurgy and access to existing infrastructure in a tier-1 location.
“There is also huge potential to continue growing the overall inventory at Bellevue, where the mineralisation remains open in multiple directions and we have numerous well-established targets, some with known mineralisation.
“We are confident that the combination of economic and technical studies and resource growth will drive further increases in shareholder value.”
Most of the Bellevue gold project’s indicated resource is made up of a high-grade core of 480,000 ounces at 15.5. grams per tonne of gold at the Viago and Deacon lodes.