Bellevue Gold (BGL) released further exceptional, high grade drill results from multiple lodes within the Bellevue Project in Western Australia. The majority of the intercepts were from infill drilling, which will result in a material uplift in the confidence level of the Mineral Resource. Importantly, BGL’s geological and structural models are predicting high grade shoots within the mineralised envelop with a high degree of accuracy. These zones, which were the target of historic mining, are 5-10m thick grading 10-30g/t with down-plunge extents up to 400m. We are expecting a maiden Inferred Resource on the Deacon-Mavis lode in the coming weeks then a broader resource update in ~May 2020, which should see a significant portion of the shallower mineralisation converted into the Indicated category. BGL also announced the appointment of former Northern Star (NST) Head of Investor Relations and Business Development Officer Luke Gleeson as its Head of Corporate Development. SPEC BUY recommendation maintained.
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