PERTH (miningweekly.com) – ASX-listed Bellevue Gold has increased its global mineral resource to 2.7-million ounces, at 9.9 g/t gold, following the report of a maiden resource at the Marceline discovery in Western Australia.
The Marceline discovery has been estimated to host 310 000 oz, at 9.7 g/t gold, including an indicated resource of 130 000 oz at 10.1 g/t gold.
Bellevue told shareholders on Thursday that the Marceline resource would form part of the Stage 2 feasibility study for the Bellevue project currently under way.
“These newly discovered resources have the potential to have a positive impact on the project’s economics, due to their location sitting closer to surface,” said MD Steve Parsons.
“They already sustain substantial resource and have scope for rapid growth given the mineralisation remains open in every direction. Their locations in the upper areas of the mine makes them particularly valuable because this means they could have the potential to increase the life-of-mine production at a relatively low capital cost due to their close proximity to the existing planned underground infrastructure.
“This all points to the potential to increase financial returns, including free cash flows and economics, for the project.”
In light of the strong results, Bellevue is accelerating drilling at Marceline and the adjacent Deacon North area, with the aim of growing and upgrading the resource for inclusion in the feasibility study.