BELMONT UPDATES: 2018-Q2, NEVADA, LITHIUM/BRINE DRILL PROGRAM
BLM Drill Permits - State of Nevada Division of Minerals - Drill Contractors
Vancouver, B.C. Canada, April 18, 2018 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible - CUSIP 080499403); (“Belmont”, or the “Company").
Belmont CEO/President Jim Place, P.Geo., has returned from Nevada where he met with the company’s geologist, Bob Cuffney and other person’s critical to the project, including a visit to the Kibby Basin Lithium brine property.
Drill sites and proposed access roads were marked on the ground and surveyed in order to provide information for BLM inspection and permit approval. Several surface samples of the playa soils were taken at the same time to be shipped to a company that has developed technology to recover lithium from soils and has asked Belmont to allow them to evaluate the Kibby materials.
While in Carson City, Nevada the Belmont team had a very informative and productive meeting with senior Administrators and Program Managers with the State of Nevada Commission on Mineral Resources, Division of Minerals who presented the new dissolved mineral regulations and exploration well drilling rule changes as well as the process for water rights application. The information received during this meeting will significantly streamline Belmont’s permitting process for the next phase of exploration.
Belmont has submitted the NOI application for test hole drilling at Kibby to the US Bureau of Land Management (BLM) office in Tonapah, Nevada. Staff from the BLM will visit the property to inspect the drill hole sites and access roads as well as to carry out archeological investigation of the nearby area. Once this is completed and Belmont’s bonding is approved drilling can begin on the property. It is expected that approval will be received in approximately 2 weeks. Immediately following BLM approval, application will be made to the Nevada Division of Minerals for an ‘Exploration Well Permit’. This permit will allow Belmont to not only take core samples of soils and groundwater in the basin but to also construct a well site where flow rates can be tested for any aquifers that are encountered. This testing can be carried out for a period of 2 years and can include the withdrawal of up to a total of 5 acre feet of flow (approximately 61.7 million litres).
Place and Cuffney also met with a drilling contractor to discuss specialized methods of drilling and sampling for the up-coming work at Kibby. Belmont has tentatively selected this drilling company for the work but this has not been confirmed, pending scheduling, and is therefore confidential. In order to comply with recently adopted State of Nevada requirements Belmont is pleased that the drilling contractor selected for Kibby Basin lithium brine exploration has, on staff, State licenced well drillers who will be on location at all times that work is carried out.
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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