Belmont has acquired 2 Mineral Claims containing 127 hectares near Greenwood BC. The claims are adjacent to the south side of Golden Dawn’s (TSX.V: GOM) Golden Crown Project which is located 3 km south of the Greenwood Processing Plant and 1 km south of the historic Phoenix Open Pit Mine which produced over 1 million ounces of Gold and 500 million pounds of Copper up to 1978 (historical results). The Golden Crown Property contains a NE 43-101 compliant resource (indicated plus inferred) of 205,000 tonnes containing 75,600 of gold equivalent ounces (source: GOM website). The Glenora claims are situated near the southern entrance of a 1,070 meter long underground exploration drift that was developed in 1985 to access a multi-vein system. A total of 229 surface drill holes and 53 underground drill holes have been completed on the Golden Crown property to support the above mentioned resource estimate.
Belmont plans to compile additional data on the claims in order to plan the best possible exploration program to enhance the property while concurrently reviewing additional strategically located claims and crown grants in the Greenwood area, along the same mineralized trend of other discoveries in the vicinity.
Terms of the Acquisition Agreement:
The claims have been optioned from three non-related third parties (the “Vendors”) under the following terms: