Announcement Date: 2022-04-05
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Bellevue Gold Ltd.
Project name: Bellevue
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 2.1m @ 42.8g/t Au from 411.6m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Bellevue Gold Limited (ASX:BGL) is pleased to advise that more strong drilling results, combined with the expected favourable outcomes of recent project optimisation studies and commercial discussions with contractors, will result in an update to the current 1Moz Reserve at its Bellevue Gold Project in WA. The updated Reserve estimate is expected to reflect the ongoing success of infill drilling at Bellevue, which is aimed at converting more of the Inferred Resource to the Indicated category. This increase in Resource confidence will be incorporated into an updated Reserve for the project. This revised Reserve estimate will also take into account recent engineering and underground mining optimisation work and the advanced successful commercial discussions with key contractors and suppliers. The key contracts for the project include the underground mining contract, the processing plant EPC contract, the power station IPP contract and the non-processing infrastructure contracts. All these key contracts are at an advanced stage of negotiation and are forecast to be finalised and awarded in the June quarter.
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