Bellevue Gold is pushing beyond its existing ore reserves at its namesake Western Australian gold operation, with early underground drilling at Tribune South intersecting visible gold mineralisation, raising the prospect of a sixth standalone mining area at the site.
The drilling campaign, the first undertaken this far south of the ore reserve, is targeting extensions to the Tribune line of lode, made possible by the development of the Southern Belle decline, which opened new drill platforms.
Three holes have already returned encouraging results, including intersections of 3.5m at 44.96 grams per tonne (g/t) gold and 1.71m at 7.8g/t gold, with assays still pending from a third hole that also intersected visible gold.
If successful, Tribune South would become Bellevue’s sixth standalone mining area, joining the existing operations at Deacon, Deacon North, Marceline, Viago and Tribune – a significant step in the company’s ongoing effort to unlock the full exploration potential of the project.
Managing director Darren Stralow described the company’s progress as tracking well against its strategic priorities.
“Progress through the 2026 financial year (FY26) is in line with Bellevue’s stated goals of continued delivery against guidance, continued de-risking through hedge book pre-delivery and growth through the progressive unlocking of the excellent exploration opportunity we have at Bellevue,” he said.
The company has produced approximately 130,000 ounces of gold in the first 11 months of the 2025-26 financial year (FY26) and expects to exceed the midpoint of its annual production guidance of 130,000–150,000 ounces, while remaining within cost guidance.
Current operations are producing around 40,000 ounces per quarter.
The foundation for that performance was laid in part during the December 2025 quarter, when Bellevue mined 307,000 tonnes of ore at 3.8g/t, yielding 37,000 ounces of gold.
Metallurgical recovery reached 96.1 per cent, exceeding initial guidance, while underlying free cash flow surged to approximately $62 million, nearly double the $33 million recorded in the prior September quarter.
This allowed the company to reduce its forward gold sales commitments by 18,345 ounces, and by the start of 2026, cash and gold on hand had grown to $165 million.
The December quarter was not without disruption, however, and a safety incident temporarily suspended underground development in the Deacon and Viago mine areas toward the end of the period. Development resumed in early January, with ore continuing to be processed through the month.
Located approximately 40km north-west of Leinster in Western Australia’s Northeastern Goldfields region, the Bellevue Gold project has steadily expanded its operational footprint since entering production.
Looking ahead, Bellevue is investing in infrastructure to support that next phase. Construction of a paste plant is underway and remains on schedule for commissioning in the March 2027 quarter, a development expected to improve operational efficiency and reduce costs.
A sixth underground diamond drill rig is also due on site in the coming weeks, providing additional capacity to support expanded exploration through FY27.
With strong cash generation, a growing reserve base and a fresh exploration target taking shape at Tribune South, Bellevue enters the final stretch of FY26 in a position of considerable momentum, and with its sights firmly set on the next chapter of growth.
