Bellevue Gold (ASX:BGL) identified high-grade gold mineralization during exploration drilling at its Bellevue Gold Project in Western Australia, according to a Monday Australian bourse filing.
The results were up to 9.3 meters at 62.1 grams per tonne gold and 8.9 meters at 31 g/t gold.
The company reported an annual indicated and inferred resource of 2.7 million ounces at 8.6 g/t gold, down from 3.1 million ounces at 8.9 g/t gold in fiscal 2026, including an indicated resource of 1.6 million ounces at 9.3 g/t gold, down from 2 million ounces at 9.7 g/t gold.
Probable ore reserves stand at 1 million ounces at 4.5 g/t gold, down from 1.3 million ounces at 4.7 g/t gold in fiscal 2026, with exploration drilling to become an important element of the company's renewed growth strategy and substantially increase in fiscal 2027 following the addition of an underground rig, the filing added.
The company's shares fell 1% in recent Monday trade.