INDUCED POLARIZATION SURVEY GENERATES ENCOURAGING RESULTS ON THE BERTHIAUME PROPERTY-ABITIBI GREENSTONE BELT, NORTHWESTERN QUEBEC
Vancouver, B.C. Canada, February 12, 2013 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) is pleased to report very encouraging results of the Induced Polarization (“IP”) geophysical survey conducted on the Berthiaume (the “Be”) property.
As recommended in the NI 43-101 report, Geosig Inc. of Quebec completed approx. 44.4 km. of IP surveying with a dipole-dipole electrode configuration on the three areas line cut to establish the potential of the property’s structural features.
The only previous work done by Noranda showed one unexplained EM anomaly. The IP survey led to the detection and description of a series of new anomalies, some of which correspond to magnetic layers or Input conductors. Surprisingly, because of the indication on the resistivity map, stripping and trenching of the West Grid could be carried out to explain most of the anomalies, as the overburden seems to be shallow. Detailed mapping, prospecting and rock chip sampling along the strike extensions of zones of interest should be considered. Subject to the results of the above, a diamond drilling program should be considered in order to test high-priority anomalous zones and strong IP anomalies that could not be explained by stripping.
The Iserhoff River is believed to be the site of a regional fault with a diabase dyke intruded in it. The dyke produced a magnetic anomaly. Because of the thick overburden, a diamond drilling program should be considered to test the gold occurrences along east-west structures, such as the Casa-Berardi occurrences.
Previous work consisted of eight drill holes and a ground EM and Mag survey. The previous drill grid was centered on the magnetic anomaly. The present grid was centered on the main magnetic anomaly and its surroundings, and the drill holes cut an oxidized mineralized volcanite containing layers of massive pyrrhotite-pyrite with Zn and Cu and graphite-pyrite beds in sediments of the volcanic piles. The main magnetic plug is an isolated occurrence of lavas, cut on all sides by faults in contact with sediments. The northern half of the plug seems to have the strongest IP anomalies, which extend beyond the edges of the plug itself. This would indicate that we are in the presence of a Precambrian gold-silver vein system intruding sheared volcanic terranes scattered along a regional lithological contact between the volcanic domain and the Taibi sedimentary domain. All the strong IP anomalies have input conductors associated with them. The eight holes drilled by UMEX (Union Meniere Explorations and Mining Corporation Limited) intersected many sulphide zones but no assays were reported. A diamond drilling program should be considered to test the anomalous zones, which could be associated with volcanogenic massive sulphide (VMS) and/or sheared gold-silver bearing zones.
Location and Previous Work
The Be Property is located halfway between the towns of Matagami and Lebel-sur-Quevillon, in the prolific Abitibi Greenstone Belt of northwestern 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).
UMEX initiated exploration by carrying out ground EM and magnetic surveys in 1971, followed by eight diamond drill holes totaling 353.6 metres to test five conductors.
This work was followed by further geological reconnaissance work by Shell Canada in 1980 and geophysical and geological surveys by Noranda Explorations Inc. in 1983.
In 1987, Falconbridge carried out geological mapping, reverse circulation overburden drilling and heavy minerals geochemical sampling on a large property covering the East Block of the current Be property.
The current IP survey has defined new exploration targets on the Be property.
Yvan Bussieres, Eng., a Qualified Persons as defined by NI 43-101 has reviewed and approved the technical information in this news release.
About Belmont Resources Inc.
The Company recently entered into a property option agreement to acquire four groups of mineral (51) claims, representing 2,254.27 hectares 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 agreement to acquire a 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. The property adjoins the “Hammond Reef” gold deposit, belonging to Osisko Mining Corp. (former Brett Resources Inc.), along strike to the north-northeast.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring two significant uranium properties (Crackingstone (982 ha) and Orbit Lake (11,109 ha)) in the Uranium City District in Northern Saskatchewan.
Further information can be found on the Company’s website at www.BelmontResources.com and on www.Sedar.com, or by phoning 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
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 such forward-looking statements and the Company’s 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.