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#Equity Raising Presentation
Added 4 weeks ago

Launches fully underwritten $100M placement.
Placement issue price of $1.00 per share.
Also undertaking non-underwritten SPP to raise up to $20M at the same issue price as the placement.

https://www.asx.com.au/asxpdf/20200709/pdf/44kd5g4rnnzmfy.pdf

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#Maiden Resource 860koz @ 11.6g
Last edited a month ago

07-07-2020:  Maiden Indicated Resource 860,000oz at 11.6g/t gold

Bellevue Gold - Maiden Indicated Resource 860,000oz at 11.6g/t gold Result includes high-grade core of 480,000oz at 15.5g/t gold; Stage 2 drilling underway to upgrade and grow the 2.3Moz Resource in parallel with project development work in 2H 2020

Key Points

  • Bellevue marks its transition to project developer with a maiden Indicated Resource of 860,000oz grading 11.6g/t gold; The Resource has been independently estimated by a leading consultant
  • A further increase in the Indicated Resource is anticipated for the December quarter, with Stage Two infill drilling to upgrade more of the Resource, which stands at 2.3Moz at 10.0g/t gold (0.86Moz at 11.6g/t Indicated and 1.4Moz at 9.2g/t Inferred)
  • The majority of the Indicated Resource consists of a high-grade core of 480,000oz at 15.5g/t at the Viago and Deacon lodes which remain open in all directions. Mineralisation sits within close proximity to existing underground infrastructure, with further expansion drilling continuing in 2H CY 2020
  • Underground drilling to commence in 2H CY 2020 with the benefit of a significantly lower cost profile versus surface exploration and increased drilling productivity rates (per metre) from underground; Step-out drilling is targeting multiple Down Hole Electro-Magnetic (DHEM) conductors at the Project
  • Drill Intersects outside of the current Indicated Resource ready for future inclusion include:
    • 2.3m @ 39g/t gold from 819m
    • 3.9m @ 21g/t gold from 197.1m
    • 2.4m @ 27.4g/t gold from 269.9m
  • Infill drilling from the Viago and Deacon Lodes confirm further exceptional grade with results including:
    • 5.0m @ 23.5 g/t gold from 481m
    • 7.4m @ 15.4 g/t gold from 573.8m
    • 6.1m @ 17.7 g/t gold from 561.0m 
  • Three pronged drilling strategy underway focussing on growing the Indicated Resource, further extensional drilling to grow the overall Resource by extending known mineralisation and further planned regional drilling to follow up on the recent Government Well discovery 7km from the existing Resource as well as other high priority Bellevue analogue targets
  • Work commenced by Industry leading mining consultant Entech Pty Ltd who was appointed as study manager to advance the project as announced in the latest project update, for further information click here (ASX 24/06/20)
  • Since the Company’s discovery drill hole in December quarter 2017 the Resource has grown to 2.3Moz at 10.0g/t gold (0.86Moz at 11.6g/t Indicated and 1.4Moz at 9.2g/t Inferred) and remains open in all directions
  • The Indicated Resource was drilled on 40m x 40m and 40m x 20m or closer drill spacings; over 240,000m of diamond core drilling clearly demonstrates the robust and consistent nature of the Bellevue high-grade mineralised system.

Bellevue Gold (ASX: BGL) is pleased to announce a maiden Indicated Resource of 860,000oz at 11.6g/t gold at its Bellevue Gold Project in West Australia.

The Indicated Resource forms part of Bellevue’s total 2.3Moz global Resource at 10g/t (860,000oz at 11.6g/t Indicated and 1.4Moz at 9.2g/t Inferred).

A total of 240,000m of diamond drilling has now been completed at the Project, infilling selected areas of the previous 80m x 80m drill grid on which the Inferred Resources were based, to 40m x 20m and 40m x 40m drill spacing and in places a closer drill spacing. All drilling has been conducted as diamond core from surface.

Included in the Indicated Resource is a spectacular higher-grade core of mineralisation including 480,000 ounces at 15.5g/t gold Indicated hosted in the Viago and Deacon Main Resource areas. This mineralisation is within a few hundred metres of existing development and contains consistent high-grade high sulphide mineralisation that will be targeted in the early mine life at the project.

Infill drilling is ongoing, with an increase to the Indicated Resource expected in the December quarter, which is intended to convert more of the substantial Inferred Resource adjacent to high grade core as a priority. Drilling will also target extensions to current Resources and the recent Government Well discovery which is located 7km from the existing Resource (see ASX release dated 10th June, 2020) as well as other identified Bellevue analogue outcropping targets to the north.

From a project perspective as announced in the recently released project update click here, industry leading mining consultant Entech has been appointed as study manager and is assisting with ongoing studies. Tenders for both pit wall rehabilitation, underground re-entry and development and stripping have been received from multiple contractors with a strong interest shown in bidding for the works. Dewatering is also continuing according to plan. A recently completed 3D LIDAR survey in the historical underground workings highlights the competency of the surrounding ground conditions click here.

Bellevue Managing Director Steve Parsons said the Company now had two clear avenues for creating further shareholder value.

“This Indicated Resource and the increases to come will underpin the economic studies on the project, which are now well underway,” Mr Parsons 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.”

--- click on link at the top of this straw for the rest of this announcement, including diagrams and graphics ---

Disclosure:  I hold BGL shares.

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#Metallurgical Test Results
Last edited 2 months ago

24-June-2020:  Metallurgical Tests Return Exceptionally High Recoveries

Bellevue Gold Project Update

Metallurgical Tests Return Exceptionally High Recoveries from Conventional Processing

Recoveries averaging 97.8%, combined with upcoming maiden Indicated Resource, further underpins economic studies and pave the way for start of development

Key Points

  • Exceptional results from metallurgical tests, including:
    • Overall gravity and leach recoveries from all lodes averaging 97.8%
    • Exceptional gravity-only component recovery from all lodes with results ranging from 73.6% to 91.7%
    • Standard reagent consumptions from all lodes
    • Gold deportment well distributed across all size fractions
  • Geotechnical, visual inspections and test work programs completed in preparation for underground re-entry. Test work reveals favourable conditions for standard ground support requirements.  Click here (please open on PC) for 3D LIDAR hand held scan of the historical development
  • Tenders prepared and reviewed for early works in preparation for underground rehabilitation and development requirements
  • Drilling from underground set to start in December quarter, 2020
  • Industry-recognised mining consultant, Entech Pty Ltd, has been appointed as Study Manager to assist with ongoing studies to advance the project
  • Resource conversion to maiden Indicated Resource on track for release in coming weeks
  • 10,000m regional discovery drilling has commenced along the highly prospective 20km Bellevue mineralised corridor

Bellevue Gold (ASX: BGL) is pleased to advise that metallurgical testwork at its Bellevue Gold Project in Western Australia has returned exceptionally strong results.

The testwork has generated recoveries averaging 97.8 per cent across the multiple lodes. Importantly, these results were achieved using conventional gravity and leaching processes and standard reagents.

The testwork confirmed that the Bellevue lodes are exceptional in respect to extracting gold using conventional gravity and CIL processing flowsheets. The testwork is also in line with original production at the Bellevue Lode between 1988-1996, which reportedly averaged ~96 per cent recovery from the gravity and CIL circuits.

Bellevue is also pleased to advise that it has made significant progress on several fronts as part of its preparations for development.

The Company has appointed independent metallurgical consultant Mr. Nathan Stoitis to assist with the metallurgical studies for the project. Further metallurgical test work is being conducted on the gravity recoverable gold component to optimise the gravity circuit design requirements. This study work will feed into other studies currently being performed.

The geotechnical inspections completed by independent geotechnical consultants MineGeoTech Pty Ltd and test work programs have been completed for the pit walls and underground areas that have been accessible in preparation for mechanised re-entry.

New and existing diamond drill core along with geophysical surveys and logging were used to determine the support requirements. These tests revealed the ground conditions are considered favourable for standard ground support requirements.

Tenders for both pit wall rehabilitation, underground development and stripping have been received from multiple contractors with a strong interest shown in bidding for the works. All tenders are currently being assessed for the commencement of early works.

A resource update is pending which will upgrade a portion of the current 2.2Moz at 11.3 g/t gold Inferred Resource(*1 ) to the Indicated category. All recent drilling has been focussed on infill; step-out exploration drilling has now resumed. The updated resource will focus on the Indicated category only.

Bellevue Managing Director Steve Parsons said the outstanding metallurgical results joined the growing list of strong results being generated across the board at Bellevue.

“We have established a 2.2Moz resource at 11.3gpt(*1), we have just hit high-grade gold 7km away from the resource and we are now finalising a maiden Indicated resource,” Mr Parsons said.

“These exceptional recovery rates, combined with the economic studies and other preparations underway, will position us to develop a project in a Tier One location with very high grades and a host of other extremely attractive features.”

“All work that has been conducted on the underground infrastructure, points to a very low level of capital intensity for mechanised re-entry which is an amazing result given underground entry has not occurred in over 23 years. The 3D LIDAR survey highlights the competency of the surrounding ground conditions. ”

“We are currently on track with our dewatering program that will allow us to drill from underground in the fourth quarter of this calendar year.”

3 Technical Detail- Underground Infrastructure and Metallurgy Underground Infrastructure

The LIDAR point cloud survey data shows the condition of the existing underground infrastructure, highlighting the state of the current ground conditions as being considered suitable for mechanised re-entry to be established. Advice from independent geotechnical consultants is that the results from new and existing diamond drill core along with geophysical surveys and logging were used to determine the support requirements. These tests revealed the ground conditions are considered favourable for standard ground support requirements.

Click here for 3D LIDAR scan of development drive (please open on PC).

Metallurgy

Testwork has been conducted on ½ NQ core from the Bellevue, Tribune, Deacon and Viago lodes at the Bellevue Project. Samples were processed at  ALS laboratories in Perth for communition and gold extraction by conventional gravity and cyanide leach gold recovery. All samples are from primary lode types.

Gravity and Leach testwork

Gravity and leach testwork followed typical gravity recovery followed by cyanidation with oxygen sparge over differing grind sizes, with and without lead nitrate addition tested on the 106µm tests. All tests were conducted in saline water received from site at pH 9.2, with a cyanide addition of 0.05%w/v.

Of note from the gravity and leach testing are the following points:

  • Exceptional gravity recoveries were returned across the four lode sources, varying from 73.6% to 91.7%.
  • Overall leach recoveries were very high, averaging 97.8% across the four lodes, ranging from 95.4.% to 99.6%. It is important to note that the head grades of the samples tested were also high, leading to the high recovery values.
  • All lodes are grind size sensitive with gold recovery increasing when ground from 150µm down to 75µm.
  • Both lime and cyanide consumption are considered to be at standard levels for the cyanidation of gold lodes in saline water. The slight exception is the Viago Lode, which has elevated cyanide consumption of 1.13kg/t. While this is higher than all the other tests, it is still not considered excessive.

Overall, the Bellevue lodes tested behave well when subjected to typical gold recovery methods. They achieve remarkably high gravity gold recoveries as well as overall gold recoveries under standard processing conditions.

A size by assay on the four samples was conducted. All the samples showed that the gold is largely evenly disseminated across the size fractions, with no real bias towards fine or coarse gold, with the exception of Viago, that has a higher proportion of coarser gold.

Comminution testwork consisted of SMC Hardness testing, Bond Crusher work index (Cwi), Bond Rod (Rwi) and Ball (Bwi) work index and Abrasion index. Results of the Bond Ball work index are in line with most Archaean lode gold systems in Western Australia with results shown below in Table 2.

--- for Tables 1 and 2 and the remainder of this announcement, click here ---

End Notes

*1. All material assumptions and technical parameters underpinning the Mineral Resource estimate (6.1Mt @ 11.3 g/t gold for 2.2M ounces of gold) in the ASX announcement titled "Bellevue Resource increases 23% - Maiden Resource at Deacon" and dated 24 February 2020 continue to apply and have not materially changed since last reported. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that the form and context in which Brian Wolfe and Sam Brooks, (being the relevant Competent Person's) findings are presented have not been materially modified from the original market announcement.

--- end ---

Disclosure:  I hold BGL (Bellevue Gold) Shares.

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#Presentations/Reports
Added a week ago

31-7-2020:  Quarterly Activities Report   and   Quarterly Cashflow Report

[I hold BGL shares]

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#Drilling Results
Last edited 2 months ago

10-June-2020:  Bellevue hits high-grade gold in first regional hole

Bellevue hits high-grade gold 7km from existing 2.2Moz at 11.3 g/t Inferred Resource(*1)

First regional hole in 20km Bellevue Trend intersects 17m @ 4.2 g/t from 19m

Key Points

  • First hole in maiden regional drilling program on the 20km-long Bellevue Trend hits 17m @ 4.2 g/t from 19m, including 3m @ 9.7 g/t from 19m and 3m @ 11.6 g/t from 33m at the Government Well prospect 
  • The Government Well prospect has been defined over 1.2km by field mapping; RC drilling now completed over 500m of strike, with assays pending on three holes 
  • Visible gold mineralisation was panned over a 1m interval in one of these holes associated with pyrite mineralisation in quartz veining 
  • The reported intersection is 180m along strike of an historical RC result of 2m @ 18.7 g/t gold from 32m (refer ASX 11-Apr-2019) (*2); There has been no drilling between the two results 
  • Further regional exploration of 10,000m is planned and budgeted for the calendar year 

Bellevue Gold (ASX: BGL) is pleased to advise that it has intersected high-grade gold 7.4km north of its Bellevue Gold Project in WA. 
 
The intersection at the Government Well prospect was recorded in the first regional exploration hole drilled by the Company on the 20km-long Bellevue Trend. 
 
The Government Well prospect is estimated by mapping to be 1.2km long. Bellevue has drilled four RC holes along a 500m stretch of this strike, with assays from the final three holes pending. 
 
Bellevue Managing Director Steve Parsons said it was an outstanding start to the Company’s regional exploration campaign. 

“This result supports our view that there is huge scope to grow the inventory at Bellevue,” Mr Parsons said.   “The Bellevue Gold Mine sits within a 20km-long mineralised corridor which has been subjected to very limited exploration. 
 
“The drilling at Government Well represents our first foray away from the mine area and given the strength of this result, we will conduct follow-up drilling at the first opportunity.” 

 
In parallel with the exploration drilling, the Company is finalising its upcoming maiden Indicated Resource at Bellevue, where the Inferred Resource stands at 2.2Moz at 11.3 g/t(*1), and has initiated economic studies on the project. 

--- click on link at the top of this straw for more - including technical details of the drilling ---

Disclosure:  I hold BGL shares.

End Notes (*1, *2):

  1. All material assumptions and technical parameters underpinning the Mineral Resource estimate (6.1Mt @ 11.3 g/t gold for 2.2M ounces of gold) in the ASX announcement titled "Bellevue Resource increases 23% - Maiden Resource at Deacon" and dated 24 February 2020 continue to apply and have not materially changed since last reported. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that the form and context in which Brian Wolfe and Sam Brooks, (being the relevant Competent Person's) findings are presented have not been materially modified from the original market announcement.
  2. For full details of these Exploration results, refer to the said Announcement or Release on the said date. Bellevue Gold is not aware of any new information or data that materially affects the information included in the said announcement. 
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#Presentations/Reports
Added 2 months ago

11-June-2020:  Macquarie Mining and Energy Forum Presentation

Disclosure:  I hold BGL shares.  High grades.  Great story.  Not producing anything yet however, so high risk.

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