Marcelline, discovered in November, has a maiden resource of 310,000 ounces at 9.7 grams per tonne gold.

The figure included an indicated component of 130,000oz at 10.1gpt gold.

The estimate takes the total Bellevue resource to 2.7 million ounces at 9.9gpt gold, up from 2.4Moz at 10gpt, including an indicated resource of 1.2Moz at 11gpt, up from 1.04Moz at 11.4gpt.

Bellevue is working towards releasing a stage two feasibility study this quarter, with Marceline to form part of the update.

The stage one feasibility study released in February showed capital costs of A$255 million for a 750,000 tonne per annum, 7.4-year operation to produce an average 151,000oz per annum of gold at all-in sustaining costs of $1079 an ounce.

The production rate, which includes output of 160,000ozpa in years 1-5, is based on a maiden probable reserve of 2.7Mt at 8gpt gold for 690,000oz, using a cut-off grade price of $1750/oz.

The project has a post-tax net present value of $600 million and internal rate of return of 35%.

The stage two study will look to firm up those figures.

The Marceline discovery and Deacon North deposit sit in the upper levels of the mine plan, close to existing development, meaning their inclusion in the updated study could have a positive impact on project economics.

"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," Bellevue managing director Steve Parsons said.

"They already contain substantial resources and have scope for rapid growth given that 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 cashflow and economics, for the project."

Bellevue will accelerate drilling at Marceline and Deacon North to upgrade the areas ahead of the study.

First-pass extensional drilling hit 3.75m at 25.4gpt gold between Marceline and Deacon North, while a hole in the footwall targeting easterly dipping lodes in the Marceline footwall returned 2.9m at 6.2gpt gold, highlighting a new target style.

Shares in Bellevue were up 1.1% to 89c.