Bellevue boosts key high-grade gold lode

HAVING been promoted in North America last week, Bellevue Gold today had good news to report on the drilling front with step out testing significantly lengthening the possible strike of high-grade mineralisation.
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Success at the drill bit has been an ongoing trend for Bellevue in Western Australia

Bellevue said the drilling had doubled the strike length of the Viago Lode and almost doubled the extent of the Tribune Lode.

The Viago and Tribune Lodes contributed nearly half of the 1.5 million ounces estimated at Bellevue last month, with the former a key body of mineralisation - 800,000t grading 22 grams per tonne for 550,000oz.

A resource upgrade for the project north of Kalgoorlie in Western Australia is expected next quarter, with four diamond rigs in action this month.

At a 3.5gpt cut-off, Bellevue currently contains 4 million tonnes at 11.8gpt gold for 1.53Moz.

Bellevue has about A$27 million cash, with a fund raising last month bringing in $20 million after new shares were issued priced at 55c each.

Bellevue MD Steve Parsons was on the market hustings last week in both Toronto and New York.

Shares in Bellevue were off slightly on good turnover in morning trade today at 60.5c, capitalising the company at $295 million.

The stock was at 20c six months ago.