BELMONT RECEIVES RESULTS OF MAGNETOTELLURIC (MT) SURVEY ON THE KIBBY BASIN - NEVADA LITHIUM PROPERTY
Vancouver, B.C. Canada, March 1, 2018 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible - CUSIP 080499403); (“Belmont”, or the “Company”)
Further to our news release of January 23, 2018 in which Belmont announced the commencing by Quantec Geoscience Limited (“Quantec”) of the Spartan AMT/MT Survey.
Belmont is pleased to announce the receipt of the Geophysical Report for Spartan Magnetotelluric (MT) Survey over the KibbyBasin property, carried out by Quantec. The survey covered most of Belmont’s Kibby Basin-Nevada claims and included the playa basin area as well as some of the adjoining higher level lands.
The MT survey and 3D inversion report clearly mapped a more conductive zone at many of thesurvey stations. This variation of the resistivity at depth is interpreted by Quantec as being a potential contact with sub-surface brine that may contain lithium.
The results of the MT survey are a critical source of information and provides a vital step that allows Belmont to select the most prospective locations and higherprobability brine aquifer targets for the next phase of drilling in 2018. Locations where the potential brine contacts are closest to the playa surface are being considered by Belmont as themost favourable targets.
The survey was completed in January, 2018 by field staff from Quantec and measured MT data at a total of 49 sites distributed along an XY grid with a site separation of 1000 metres, comprising approximately 36 square kilometers. The MT data were analyzed using 3D inversion which provides Belmont with a 3D model of the property from the surface down to 3 kilometers depth.
The results of the Quantec MT survey correlated well with information previously obtained from the gravity survey modeling (Wright Geophysics -2016). Quantec’s MT survey results clearly map a more conductive zone beginning at approximately 500m depth. Details, including the shape and thickness of the anomalous conductive zones can be found in Quantec’s report which has been posted on Belmont’s website at www.BelmontResources.com or click on https://www.slideshare.net/stockshaman/belmont-resources-inc-kibby-basin-nevada-quantec-spartanmt-survey-full-report
The Company will begin evaluating contractors to carry out drilling and sampling of soils and aquifer water from the Kibby Basin property.
NI 43-101 Disclosure
Robert (“Bob”) G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.
About Belmont Resources Inc.
Belmont has recently optioned 31 mineral claims encompassing approx. 7 sq.km; located 24 km northwest of Saint John, New Brunswick - the Mid Corner/Johnson Croft - a Zinc, Cobalt prospect.
On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada-U.S.A. The Company believes the property to be highly prospective to host lithium. Subsequent ground geophysics & gravity surveys, surface sampling and a two hole- 2046 ft. diamond drill program have confirmed the presence of lithium on Kibby.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims totaling approx. 1724 hectares (4,260 acres), adjoining the Kibby 16, increasing the total Kibby Basin land position (the “Property”) to 2,760 hectares (6,820 acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake - 11,109 ha) in the Uranium City District in Northern Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
“James H. Place”
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2016; and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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