Hits Of Up To 58g/t Gold Confirm Armand Lode Potential
Bellevue Gold (ASX: BGL) has discovered a new shallow high-grade shoot at its Bellevue Gold Project in Western Australia.
The new high-grade Armand lode discoverey features a host of high-grade results over a 450m strike that remains open to the north, down dip and down plunge.
Managing Director Steve Parsons said the company has also hit gold in the first Western Australian government-funded Exploration Incentive Scheme (EIS) hole drilled to the east of the high-grade Deacon lode, highlighting the potential for repeat structures.
“The drilling results on the new Armand lode are outstanding, with high-grade mineralisation intersected near existing development hosted within the Bellevue Shear,” Mr Parsons said.
“With the mineralisation already outlined over 450m 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.
“At the same time, we have hit high-grade gold in another new position with our recently granted EIS co-funded drilling in close proximity to the east of the Deacon lode. It is still early days in this area, but clearly, there is potential for a new lode to emerge here too.”
Mr Parsons said the latest exploration results vindicated Bellevue’s strategy to maintain an aggressive drilling campaign in parallel with the project development activity.
“We have earmarked $35 million for exploration spending on a full programme of drilling and project development work over the next 15 months.
“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.”
Further drilling at the largely untested northern extent of the Bellevue project has continued to intersect high-grade mineralisation across a total of 450m of strike in a newly defined high-grade shoot position analogous to the previously mined high-grade mineralisation at the historic Bellevue Gold Mine. The new shoot has the same interpreted gentle southerly plunge and remains open down dip. The Company has named the new shoot position the Armand shoot and is currently working to infill drill the shoot to 40m centres from the broader spaced 80m- 140m current centres.
