TECHNICAL REPORT ON BERTHIAUME PROPERTY-ABITIBI, QUEBEC
Vancouver, B.C. Canada, September 19, 2012 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) is pleased to announce the receipt of the first of three Technical Reports prepared by Consultations Geo-logic (“Geo-logic”) of Quebec, an independent geological engineering consultant. The Technical Report is filed on SEDAR under the Company’s SEDAR profile.
The Technical Report on the Berthiaume (the “B”) Property has been prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Properties and complying with NI 43-101A.
The property was acquired on the basis of physiographic and geophysical data that could indicate the presence of volcanic centers. The general geological context remains favorable for other model deposits and exploration towards these models will return data that will serve to establish if the volcanic centers model can be supported.
Property Location & Access
The B Property is located halfway between the towns of Matagami and Lebel-sur-Quevillon, Abitibi, Quebec. It consists of two designated claim blocks of eight claims covering 447.84 ha (West Block) and 23 claims covering 1,287.56 ha (East Block). Some fifty km. north of Lebel-sur-Quevillon, access to the property is provided by a main logging road (R-1000) leading to Matagami, and a further logging road that passes between the two blocks of claims, followed by a network of well-graveled roads that cut across the property.
History & Observations
Previous exploration was completed by Umex (1971), Shell Canada (1980) and Noranda Exploration (1983). In each case, exploration was directed at the many east-west conductive zones observed on the interpretation maps, with a target of volcanogenic massive sulphide mineralization detectable by EM airborne surveys.
Only Umex drilled a few holes, intersecting semi-massive pyrite-pyrrhotite mineralization and graphitic sediments with traces of sulphides. A grade of 1.72% Zinc over 6.0 feet is reported in hole V118.
In 1987, Falconbridge Ltd. staked a large property that at the time include both “B” blocks. This time gold was the focus of the exploration work. Basal till sampling from drilling was completed over a wide area, including the south portion of the current “B” property. No anomalies were reported and background values for gold were found to be low.
Mapping from these previous explorers and regional mapping carried out by the MRNF in 1993 indicates that the area belongs to the Harricana-Turgeon Belt and that most of the property is underlain by clastic sediments of the Taibi Group. A particular feature of the property is a high relief located in the northern half of the East Group, where a wedge of mafic volcanites interrupts the sedimentary sequence. The volcanites show as a relatively isolated magnetic high on the geophysical map.
The Harricana-Turgeon Belt hosts numerous volcanogenic massive sulphide occurrences in an area of bimodal volcanism (mafic to felsic cycles). It also hosts some large gold occurrences along east-west structures, such as the Casa-Berardi occurrences.
The absence of felsic volcanites on the “B” property but the presence of many major longitudinal and cross-cutting faults is considered to suggest better potential for gold than for base metals.
The authors recommend an exploration program to establish whether mineralization is associated to the major faults identified on the East Block. On the West Block, a small program is recommended in an attempt to identify the origin of an Input anomaly.
The two-phase program includes IP geophysical surveys to cover the potential zones of mineralization. A provision is made for some follow-up drilling.
Mr. Alain Tremblay, B.Sc.A., and Mr. Henri-Louis Jacob, B.Sc.A, Geological Engineers, who are Qualified Persons as defined by NI 43-101 have reviewed and approved the technical information above in this news release.
The Company has granted 200,000 incentive stock options to consultants at a price of $0.12 for a period of three years. All securities are subject to regulatory approvals and the Company’s Stock Option Plan.
About Belmont Resources Inc.
The Company has recently entered into a property option agreement to acquire four groups (51) mineral claims, representing 2,254.27 hectares located in the Berthiaume, Orvilliers and Joutel Townships, all located within the Abitibi Harricana-Turgeon volcanic greenstone of Northwestern, Quebec. This belt hosts several world class deposits that have produced both gold and base metals.
In February 2010 the Company entered into an option to acquire 100% interest in 3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property located approximately 35 km. northeast of the town of Atikokan and adjoining on strike to the north-northeast with the Osisko Mining Corp. (former Brett Resources Inc.) “Hammond Reef” gold deposit.
Belmont (50/50) with International Montoro Resources Inc. has acquired and explored two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan. The Company also holds interests (50/50 with Int. Montoro Res.) in one rare earth mineral claim block in the Central Mineral Belt in Labrador.
Further information can be obtained from the Company website at www.BelmontResources.com and www.Sedar.com, or by phoning 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.