The Bellevue Gold mine is a historic mining area with earliest production from the licences dating back to the early 1900’s. The first modern commercial underground extraction at the project commenced in 1986 producing ~800,000 ounces @ 11g/t predominantly from an underground gold mine operated by Plutonic. The mine was closed in 1996 at a level of 400m below surface  at a time of historically low metal prices and at the base of known mineralisation.

The project lay dormant for the next 20 years with the underground used to dewater the adjacent Cosmos Nickel discovery until Bellevue Gold recommenced exploration activities in 2017.

The Company has subsequently made a number of new discoveries around the historic underground which form the basis of the current project Resource/Reserve statement.

The Bellevue Mine targets orogenic lode style gold mineralisation hosted within the Mt Goode Basalt sequence. Mineralised lodes are defined over 5km of strike in a north-north-westerly direction with a moderate westerly dip. The Mt Goode Basalt sequence consists of mafic sequence ranging from dolerites to pillow basalts with mineralisation overprinting all units.

All lithologies have been metamorphosed to upper greenschist/lower amphibolite facies. Alteration is typically narrow, focused in and around shears. Observed alteration minerals include:

• Chlorite – both early (shear foliation parallel) and late (shear foliation overprinting).
• Amphibole – both early (shear foliation parallel) and late (shear foliation overprinting). Amphibole Intensity often has a negative association to gold mineralisation.
• Biotite – an early phase, dark – foliation parallel and a very late phase (light brown, matted, unoriented, overprints late chlorite). Biotite intensity has a positive association to gold mineralisation.
• Albite/Silica – often observed in the Tribune and Bellevue lodes, but absent in the Viago lode.
• Late alteration – a sericite-epidote-FeCO3 retrograde assemblage

At Bellevue, gold grades have a strong association with remobilised pyrrhotite (and lesser chalcopyrite) in and around the shear structures and associated veins, making downhole electromagnetic survey (DHEM) an effective targeting tool. Remobilised massive to semi-massive sulphide exploited vein margins and internal fractures and often contain cataclastic breccia fragments of quartz. Pyrrhotite and chalcopyrite display evidence of ductile remobilisation by mechanical processes such as cataclastic flow and dislocation flow rather than diffusive mass, liquid state or magmatic transfer. Arsenopyrite is late, euhedral, with no obvious gold association, although it is also often observed in late fractures. Pyrite replacement of pyrrhotite is mainly observed in the top 100 metres of the Tribune and Bellevue lodes or proximal to workings and is interpreted to be a result of low temperature retrograde processes.

Visible gold occurs with quartz fragments and within late (open) fractures in veins. There are two types of mineralised veins observed within 1-20 metre-wide zones of high strain:

• Type 1: Smokey grey, highly strained, often highly folded and boudinaged with po and cpy remobilised to boudin interstices. Visible gold is observed in late fractures.
• Type 2: Opaque (sometimes partially recrystalised) quartz veins, frequently observed cross-cutting Type 1 veins. Po and cpy observed as fracture fill in opaque veins with visible gold is observed in late fractures

The Bellevue Processing facility is a nameplate 1.0Mtpa conventional CIL and gravity plant. Ore will be predominantly derived from underground extraction with 5 separate work areas in the underground, Tribune, Deacon, Viago, Marceline and Armand reflecting the new lode discoveries. Mining services are provided by underground mining contractor Develop Ltd.

The Bellevue System is metallurgically very simple with exceptional conventional gravity and CIL recoveries both from the historic mine and recent testwork completed by Bellevue Gold Ltd on the new discovery areas. Total conventional leach recoveries averaged 97% with a gravity component up to 58-85%.