TECHNICAL REPORT ON JOUTEL PROPERTY-ABITIBI, QUEBEC
TECHNICAL REPORT ON ANGLE PROPERTY-ABITIBI, QUEBEC
Vancouver, B.C. Canada, September 27, 2012 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) is pleased to announce the receipt of the final 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 Angle (the “A”) 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 ‘A’ Property is located to the west of the town of Matagami and some 35 kilometres northwest of the former town of Joutel, Abitibi, Quebec. It consists of 5 designated claims covering 278.87 hectares, in the southeast part of Orvilliers Township. The area was logged some years ago, so access to the property is through a network of gravel roads and winter logging roads that connect to the north with the all-weather road linking the town of Villebois to the old Selbaie mine and to the south with the all-weather road linking the town of Authier-Nord to the former mining town of Joutel.
History & Observations
The ‘A’ property area is dominated by large stretches of peatland with scattered low hills along which are found the bedrock outcrops. The property is centered on one of these low hills that extends over most of the property.
The first exploration work on the ‘A’ property was reported by Kennco Exploration (Canada) Ltd. in 1959, when one diamond drill hole in the southeast part of the property intersected a silicified siltstone with up to 50% pyrite locally but with traces of chalcopyrite and sphalerite.
Some geophysical surveys by Essex Minerals Co. in 1977 and Placer Development in 1984 were done, but without follow-up drilling.
The next significant exploration work was carried out by Tandem Resources/Sao Paulo Explorations between 1985 and 1987, when many ground surveys were completed, including reverse circulation drilling. This work indicated two WNW-ESE trending horizons with anomalous gold and zinc values in the basal till heavy mineral concentrates, one in the northern part and another in the southeast part of the property. Limited follow-up drilling was done on these zones, which remain unexplored.
The most recent work was done by Soquem in 1995 and 1996 on a larger property that overlapped the ‘A’ property. One hole drilled on the southeast part of the ‘A’ property intersected mafic to intermediate volcaniclastics with graphite and pyrite argillites but without any significant copper or zinc values.
Airborne geophysical magnetic surveys suggest that a complex combination of folding and/or faulting is present on the ‘A’ property. Complex structural contexts constitute favourable environment for gold vein emplacement like the Casa-Berardi deposits nearby.
Various fault networks were interpreted by previous explorers, and it is important to note that the Casa-Berardi Deformation Zone (“CBDZ”) path, an east-west intense structural zone, lies three kilometres to the south of the property. The CBDZ is a regional-scale structure that can be traced for over 60 km. It ranges in width from 4 to 6 km and affects both the sedimentary and volcanic sequences.
A two-phase exploration program is recommended, with a first phase of IP geophysical surveys and second phase of 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.
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.