Verifies Resource And Further De-risks Production And Financial Outlook
Bellevue Gold Limited (ASX: BGL) has confirmed that further grade control drilling results continue to verify the accuracy of the Resource model at the centre of the production and financial forecasts fit its namesake Bellevue Gold Project in Western Australia.
Managing Director, Steve Parsons, said that ss well as further de-risking the project, the results demonstrate the continuity of the mineralisation.
He said the grade control model reconciles extremely well with the Resource model, including the Inferred Resources in the area tested, further underpinning the robustness of the technical and financial forecasts contained in the Stage 2 Feasibility Study.
“We pride ourselves on meeting or exceeding our targets and these results will help ensure we maintain this record because they verify the Resource model which underpins the forecasts in the Stage 2 Feasibility Study,” Mr Parsons said.
“By demonstrating the accuracy of the Resource with such close-spaced drilling, we continue to de-risk the project.
“In parallel with this, we are looking to upgrade more of the 1.4Moz Resource which currently sits outside the mine plan. And we are extending the known mineralisation with highly successful resource drilling as part of our strategy to continue growing the total inventory”.
Tribune Grade Control Drilling
In the Stage 2 Feasibility Study, the Tribune Lode forms part of the early mine inventory and is currently planned to be mined with an open pit followed by establishment of a portal at the base of the pit and underground development.
The early mine life areas of Tribune have been grade control drilled with drilling completed on 10m x 10m spacing by Reverse Circulation (RC) drilling for the top 80m and on a 20m x 10m spacing by diamond core to a depth of 150m and over 400m of strike.
Results have now been received for the majority of this drilling, defining significant high-grade mineralisation associated with a vertical quartz lode. Bonanza ore shoots plunge moderately to the south across the plane of the mineralisation.
Previously unreleased results from the Tribune Grade Control drilling include: • 10m @ 15.4g/t gold from 115m; • 2.4m @ 46.2g/t gold from 146.1m; • 2.2m @ 24.8g/t gold from 73m; • 4.7m @ 10.0g/t gold from 81.2m; • 1m @ 39.1g/t gold from 101m; • 6m @ 5.5g/t gold from 72m; • 4m @ 7.9g/t gold from 29m; • 6m @ 4.9g/t gold from 9m; and • 3.1m @ 8.8g/t gold from 91.7m
A grade control model has been completed incorporating the results received to date from Tribune. This has encompassed a 400m x 150m area that is subject to the open pit and early underground mining access.
The grade control model has been completed using ordinary kriging to a 5m x 5m block size and the results demonstrate an excellent correlation to, and therefore confirm the robustness of, the Resource model that the Stage 2 Feasibility Study is based upon.
At the 3.5g/t reporting cut off, the grade control model results show a 3.7% increase in grade and a 2.2% reduction in tonnes for a 1.4% increase in contained metal in the area compared with the original Indicated and Inferred Resource model.
For further information please visit: https://www.bellevuegold.com.au/
