Vancouver, B.C. Canada, May 18, 2021; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is pleased to announce that it has completed the terms of the option agreement for acquisition of the A-J (Athelstan-Jackpot) gold project signed in May 7, 2020. The Company now holds a 100% interest in the property, subject to a NSR of 2.0% which the company can reduce to 1.0% with a payment of US$500,000 to the vendors.
The A-J property in situated in the Greenwood Mining Camp of southern British Columbia and includes two past producing Athelstan and Jackpot gold mines which collectively produced 7,000 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The two mines and at least 9 known gold mineralized zones extending over an approximate area of 240 by 1,000 metres are associated with listwanite, a key ultramafic rock alteration directly associated with several multi-million ounce gold deposits in Atlin, Bralorne and Barkerville (British Columbia), as well as the Motherlode District in California.
View A-J Property Map at https://bit.ly/3ytFyx4
Belmont recently completed a 9 hole, 2,000 meter drill program on the A-J property. Results from the first 5 drill holes were announced in an April 29, 2021 news release. Results of note included 20.5 g/t Au over 0.41 meters within a 6.32 g/t Au over 3.28 meter interval. The Company is waiting for assay results for the remaining 4 drill holes which are expected shortly.
About Belmont Resources Inc.
Belmont Resources is engaged in the business of acquiring and developing gold-copper-lithium projects located in North America. By utilizing new exploration technology and geological modelling the company is identifying new potential sources of gold-copper-lithium mineralization.
The Company’s project portfolio includes:
- Athelstan & Jackpot Gold mines, C. (Athelstan-Jackpot property (100%)
- Kibby Basin Lithium Project, Nevada (100%)
Increased land position by 500% covering most of Kibby Basin
- Betts Copper-Gold mine, B.C. (Come By Chance property – 100%)
Potential copper/gold porphyry and epithermal type deposit of a bonanza gold-bearing zone.
- Bertha & Pathfinder Gold-Silver mines,C. (Pathfinder property – 100%)
Property surrounded by Kinross Gold – 5th largest gold producer in world
- Lone Star Copper-Gold mine, Washington State (Lone Star Property – LOI)
Historic copper gold producer with historic resource (2007)
Linda Caron, M.Sc., P.Eng. is the qualified person under National Instrument 43-101 who has reviewed and approved the technical content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
George Sookochoff, CEO/President
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.