BGL released further results from the ongoing drill campaign at its 100% owned Bellevue Gold Project in Western Australia. Better results from infill drilling at the Deacon Lode included: 5.3m @ 54.5 g/t gold, 1.5m @ 168.8 g/t gold and 2.5m @ 49.2 g/t gold. Deacon is shaping up to be an analogue of the main Bellevue Lode, which was the focus of historic mining. It has a current strike of +1,800m and extends for more than 300m vertically. The Company is in the process of dewatering the Bellevue decline with the water level now ~200m below surface. The decline looks to be in very good condition, which bodes well for the planned re-entry and refurbishment. BGL remains a key pick in the gold developer sector based on high grade, a rapidly growing resource and corporate appeal given its proximity to numerous operating gold mills. SPEC BUY recommendation maintained.
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