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The changing

face of Bellevue

Steve Parsons
De
Development is in sight for Bellevue Gold velopment is in sight for Bellevue Gold
L
Ltd at its namesake project in Western td at its namesake project in Western
A
Australia, however, staying true to its ustralia, however, staying true to its
e
exploration roots remains its fulcrum.xploration roots remains its fulcrum.

The company has undeniably been the standout gold explorer in Australia since Meanwhile, the company will aim to make good with another WA EIS co-funding
acquiring the Bellevue project, 400km north-west of Kalgoorlie, four years ago. granted recently.
The mine was a stellar performer in its day, producing 800,000oz gold @ 15 g/t up The Viago (700,000oz gold @ 16.1 g/t inferred) and Deacon (410,000oz @ 12.3
until 1997 but after closure no-one thought to revisit the once prolific producer. That g/t inferred) lode discoveries were products of two earlier government grants and
the mine and surrounding area was left alone has been fortuitous for Bellevue given Bellevue will use its third round of funding on the first drilling programme 600m
the amount of gold the company is shaping to extract. below surface, targeting repeat lodes beneath the Bellevue and Deacon lodes.
So far, an inferred resource of 6.1mt for 2.2 moz gold @ 11.3 g/t at Bellevue has “The WA Government EIS funding is a brilliant initiative and we will be doing our
provided excitement to investors around the world. Now, the early days of regional next deeper conceptual targeting on the back of that towards the end of this year.
exploration is demonstrating the fertility of the wider ground package it holds. There have been some great discoveries in the last 12 months in WA and I think
Stepping out 7km from the 2.2 moz gold resource – which encompasses the that is also because the investor base out there is looking for discoveries and they
Bellevue Surrounds, Viago, Deacon, Tribune and Southern Belle lodes – the first are ready to fund and take a punt on companies drilling conceptual type targets,”
regional hole drilled in the 20km-long Bellevue Trend intersected 17m @ 4.2 g/t Bellevue managing director Steve Parsons says.
from 19m, including 3m @ 9.7 g/t from 19m and 3m @ 11.6 g/t from 33m at the Though well-connected in the global investment community, Parsons is as surprised
Government Well prospect. as anyone at the healthy sentiment towards explorers.
Field mapping has defined Government Well over 1.2km and RC drilling completed “The investment community is definitely looking to invest in the discovery phase. In
over 500m of strike, with assays in waiting from three holes. this market, as a junior company, if you can get a little bit of money in the bank and
The intersection at Government Well is 180m along strike from a historical RC hit do those conceptual holes you will be rewarded,” he says.
of 2m @ 18.7 g/t gold from 32m, with no drilling undertaken between the two “Every investment banker and analyst can’t believe how well this market is going,
results. everyone was predicting it was going to be a nightmare, no money to be raised and
Market appreciation was evident following release of the Government Well result, a really bad six months ahead; all have been dumbfounded as to how the bounce
with Bellevue shares surpassing $1/share in June, confirming a market cap of over was so hard and rebounded strongly. Now, they are thinking maybe this isn’t so
$640 million. much of a bounce and some sort of recovery is in progress.”
Having bolstered its cash earlier in the year ($37 million as of May), the company In April, Bellevue completed a $26 million placement at 30c/share, with BlackRock
is well funded into 2021 and is budgeting 10,000m of drilling on further regional Inc among the biggest participants. The US group is now a major shareholder with
exploration this calendar year. Work will also continue on economic studies, due for 9.1% of the company.
release by the end of the year. Parsons says BlackRock adds more credibility to both company and project, as
anticipation grows ahead of an imminent maiden indicated resource at Bellevue.