BELMONT OUTLINES PROSPECTIVE DRILL HOLES FOR KIBBY BASIN-NEVADA LITHIUM PROPERTY
Vancouver, B.C. Canada, March 14, 2018 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible - CUSIP 080499403); (“Belmont”, or the “Company”).
Belmont Resources Inc has initiated the next stage of exploration and assessment on its Kibby Basin lithium property in Nevada, USA. CEO/President - James Place, P.Geo. along with Belmont’s consulting experts are interpreting data and mapping from Quantec Geoscience’s Spartan Magnetotelluric (MT) Survey Report (see Belmont news release dated March 1, 2018) and have established approximate locations for drill holes.
The results of the MT survey are a critical source of information that allows Belmont to select the most prospective locations for further drilling; where potential brine contacts are closest to the playa surface. Details, including the shape and thickness of the anomalous conductive zone can be found in Quantec’s report which has been posted on SEDAR and is also on Belmont’s website.
Belmont’s consulting geologist, Robert (“Bob”) Cuffney from Reno, Nevada will finalize and map drill-hole locations and process the application for permits with the authorities in Nevada in anticipation of drilling beginning in the second quarter of 2018.
The Company will also begin evaluating contractors to carry out drilling and sampling of soils and aquifer water from the Kibby Basin property.
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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