Bellevue Gold Delivers First Ore from High-Grade Deacon North

Konrad Forrest
Face mapping

19 May 2026 | Western Australia - Bellevue Gold has delivered first development ore from the high-grade Deacon North area at its Bellevue Gold Mine, marking another step in the company’s ramp-up and production growth plan.

The company said first ore from Deacon North was mined on schedule in May 2026, with development continuing for the remainder of FY26. Stoping is scheduled to commence early in FY27, with both development and stoping production expected to ramp up steadily through the year.

Bellevue said Deacon North will be a key source of high-grade material in FY27 and is expected to complement the established Deacon Main mining area immediately to the south. Combined output from Deacon North and Deacon Main is expected to provide a more reliable and consistent source of ore, supporting stable production for FY27 and beyond.

Grade control results from Deacon North have aligned with expectations, with Bellevue reporting several strong intercepts including:

  • 6m at 32 g/t gold
  • 2.5m at 59.1 g/t gold
  • 8.1m at 16.9 g/t gold
  • 4.6m at 29.6 g/t gold
  • 4.5m at 29.2 g/t gold
  • 7.4m at 14.2 g/t gold

The company also said sampling from the first 13 production faces showed the average development grade was performing better than initially anticipated. The main structure of the Deacon North orebody has aligned well with geological expectations, with higher sulphide content and increasing ore grades expected in subsequent levels.

Why it matters: Deacon North is important because it adds another high-grade mining front at Bellevue. With Deacon Main and Viago already established, the addition of Deacon North gives Bellevue more flexibility and should help support a more consistent ore feed as production increases through FY26 and FY27.

Bellevue has stated it remains on track to meet FY26 guidance of 130,000 to 150,000 ounces of gold, with all-in sustaining costs of A$2,600 to A$2,900 per ounce. The company said production is increasing through FY26 as higher-grade areas including Deacon, Deacon North and Viago contribute more ore.

Bellevue has also highlighted a strong balance sheet, reporting A$181 million in cash and gold as at 31 March 2026, along with A$100 million of bank debt and no mandatory repayments until 2027.

Exploration remains part of the growth story, with surface drilling completed and a second phase underway. Bellevue said downhole electromagnetic surveys are commencing to refine targets, while a sixth underground diamond drill rig is scheduled to arrive on site during the June 2026 quarter and begin underground exploration drilling in FY27.

For Western Australia’s gold sector, the Deacon North milestone shows Bellevue continuing to move from ramp-up into more established production, with multiple high-grade areas now contributing to the mine plan.

Source: Bellevue Gold ASX announcement, “First ore from high-grade Deacon North delivered on schedule”, 19 May 2026; Bellevue Gold Canaccord Global Mining Conference presentation, May 2026.