Bellevue is a gold development project owned by Golden Spur Resources Pty
Ltd., a wholly-owned subsidiary of Bellevue Gold Limited. Bellevue is located in
North Eastern Goldfields, Western Australia, approximately 430 kilometers
north of Kalgoorlie and 40 kilometers north of the regional town of
Leinster.
The Bellevue gold deposit lies to the west of the Miranda shear, a dextral
strike-slip shear with an eastern block-down component. Bellevue is located
in an area of greenstone belt constriction, and associated structural
complexities, with evidence of multi-scale shear zones and controlling
faults coupled with a long and complex intrusion history. To the west, lie
high-Ca granites and granitic gneiss. The main Bellevue lode can be traced
at surface along a strike length of over 1,500 meters. The hosting shear
zone strikes north-south and dips from 45° to 85° west. Further gold
mineralization occurs in hanging wall and footwall structures both
sub-parallel to the Bellevue Lode and in conjugate low angle mineralized
shears.
Since restarting exploration at the project, three significant new
high-grade gold discoveries have been made, all close to existing historical
development: Deacon Lode, Viago High Grade Lode, and the Tribune Lode High
Grade Discovery.
A Feasibility Study (FS) was completed for the Bellevue project in February
2021 and reported a maiden Probable Ore Reserve of 2.7 million tonnes at 8.0
grams per tonne for 690,000 ounces of gold. The FS stated all ore reserves
are planned to be mined using conventional underground methods, however the
7.4 year Life of Mine (LOM) plan includes small open pits on the Tribune and
Vanguard lodes. The FS forecasts that Bellevue will produce at an average
annual rate of 151,000 ounces of gold over the LOM and all-in-sustaining
cost of $1,079 per ounce.
Bellevue also has significant growth potential, with new discoveries and
additional high-grade mineralization identified subsequent to the FS cut-off
of November 2020. This recent exploration success is expected to be
incorporated into a Stage Two Feasibility Study, which is already
well-advanced and on track for completion in the June quarter of 2021.