Bellevue to develop WA gold mine following major discovery

Bellevue Gold will make a transition to project development phase at
its Bellevue gold project in Western Australia after uncovering a
high-grade maiden indicated 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.

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