BGL Ann
Significant New High-Grade Gold Discovery Beneath the Historic Bellevue Gold Mine Multiple Drill Holes with Visible Gold including 3.6 m @ 18.3 g/t gold
• Bellevue style gold mineralization intercepted across ~1,000 metres of strike.
• Discovered with broad spaced scout holes of ~200 metre spaced drill centres.
• Confirms 1.8 Moz @ 11.1g/t gold inferred resource continues at depth.
• Analogous in geology & geometry to the Bellevue Lode system.
•Additional new ‘flat lying’ lode adjacent to the new Bellevue depth extension Highlights:
• The Company has recently completed 8 broad spaced exploration scout diamond holes ~200 metres apart, beneath the 12th level of the Bellevue Mine targeting for the first time possible extensions below the historic underground mine.
• Bellevue Style mineralization and shearing intersected across 1,000 metres of strike and open in all directions. The current interpretation based on the orientation, mineralization style, structural setting and host lithology is that the lode system is likely the offset continuation of the Bellevue underground mine lode system.
• Initial drill results indicate a similar ‘hit rate’ to the historic Bellevue Lode from the broad reconnaissance style spaced drill pattern, results include: • 3.6 m @ 18.3 g/t gold from 654.6 m incl 2.2 m @ 27.8 g/t gold from 656 m. • 2.5 m @ 5.1 g/t gold from 753 m • 2 m @ 4.3 g/t gold from 669 m & 2.4 m @ 4.9 g/t gold from 676 m • Multiple significant & high tenor down hole EM conductors located off hole ready for drill testing (similar in response to the historic Bellevue Mine). • Deeper drilling is continuing with 2x diamond core drill rigs dedicated to steppingout at the new discovery in addition to targeting the high priority DHEM conductors. • Additional drilling with 4x diamond core drill rigs at the Bellevue Gold Project continues to target: • Step-out & infill at the Tribune, Bellevue & Viago Lodes (3x drill rigs). • Exploration drilling testing new targets & DHEM targets (1x drill rig). • Further recent drill results from infill & step-out from Viago & Tribune Lodes include: • 1.9 m @ 29.3 g/t gold from 58.6 m (including 0.5m @ 105.6 g/t gold) at Tribune. • 1.1 m @ 44.7 g/t gold from 324 m at Vlad (Tribune ‘flat’ hanging wall lode). • 9.8m @ 5.0 g/t gold from 434 m at Bellevue South. • 1.2m @ 32.4 g/t gold from 388m at Viago North. • 2.2m @ 13.2 g/t gold from 434m at Viago North. • 5.2m @ 5.4 g/t gold from 203m at Tribune.
• The current inferred resource estimate of 1.8Moz @ 11.g/t gold is open to the north & south, in the hanging wall & footwall as well as now confirmed at depth below the historic Bellevue underground workings.
• The Company has a strong cash position of approximately A$35 million1 to maintain the ongoing drilling campaign and site works throughout 2019.
