Argonaut recently visited Bellevue Gold’s (BGL) self-titled project in the Leonora region of Western Australia. After acquiring the project in H2 2016, the Company has rapidly amassed a high grade 1.8Moz @ 11g/t gold Resource. BGL challenged historical geological concepts that constrained exploration upside, leading to the discovery of multiple new high grade mineralised lodes. An intensive infill and expansion drill program is currently underway, which should lead to another significant resource upgrade in H1 2020. Argonaut maintains a Speculative Buy recommendation and assigns a $1.10/sh price target.
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