Vancouver, B.C. Canada, April 29, 2021; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is is pleased to announce that the company has received results from the first 5 holes of the recently completed Phase 1 – 9 hole (2061 m) drill program on its A-J property near Grand Forks, in southern British Columbia and that elevated gold values have been returned from all holes. Assays are pending for the final 4 holes and will be released when available.
Drill holes AJ21-01, 02 & 03 targeted the North-South Contact Mineralized Gold Trend. This mineralized trend is a “Structural Intersection” between the east west A-J Mineralized trend and a north south Contact zone between listwanite and a granodiorite intrusive. At surface lies a series of trenches known as the ‘J34 Trench Area’ where 2003 trench sampling returned numerous high grade gold values with assays up to 39 g/t Au. (See J34 Trench map)
The remaining 5 drill holes (AJ21-04 to 09) targeted the western portion of the East-West A-J Mineralized Gold Trend. This mineralized trend includes the 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.
Elevated gold values were returned from both narrow intervals of massive sulfides, such as were mined historically on the property, as well as from broader zones of silicification and phyllic alteration within intrusive host rocks. The latter is a new style of mineralization on the property, validates the company’s model of testing IP anomalies.
Results of note include:
- 3.28 m @ 6.319 g/t Au (AJ21-003, semi-massive sulfide interval)
- 14.46 m @ 0.417 g/t Au (AJ21-003, strong phyllic altered intrusive)
- 1.88 m @ 6.14 g/t Au (AJ21-005, silicified intrusive)
George Sookochoff, President & CEO commented “I am excited to see the near surface gold intercepts and particularly being situated beneath the trenching at J-34 area with its extensive gold sampling. These near surface results support the potential for low grade, bulk tonnage style mineralization on the property”
“The 2021 drill program has helped us considerably to better understand the correlation of the gold mineralization with the geology and geophysics on the A-J property. This new understanding of the A-J model will allow us to focus our efforts for our Phase 2 drill program which will target areas beneath the Jackpot gold mine.”
“We look forward see to what the remaining assay results will reveal”
Results reported in this release are drill core samples. After logging, intervals marked for sampling were sawn along the core length, with half of the core placed in bags for sampling and the remaining half core piece returned to the box for reference. Samples were shipped to ALS Analytical Laboratory in Kamloops, B.C. for preparation with subsequent analyses at ALS’ North Vancouver laboratory (ISO 17025:2005, ISO 9001:2015 certification). Preparation was by ALS’ method PREP-31, and included crushing samples to 70% passing a 2 mm screen, after which a 250 g split of the crushed sample was pulverized to 85% passing 75 microns. All samples were analysed for gold by method Au-AA23 (Fire Assay/AA finish of a 30 g sample) and for a multi-element suite by method ME-ICP61 (ICP-MS and ICP-AES analysis following 4 acid digestion of a 0.25 g sample of pulverized material). For samples returning > 10 g/t Au by Au-AA23, subsequent gold assay was done by method Au-GRA21 (fire assay/gravimetric finish of a 30 g sample). For samples returning overlimit Ag (> 100 g/t Ag), Pb (> 10,000 g/t Pb) or Zn (> 10,000 g/t Zn) by ME-ICP61, samples were assayed for that element by method ME-OG62 (ore grade assay by ICP-AES, following 4 acid digestion).
Belmont Resources Inc. follows a rigorous QA/QC procedure for all drill core samples, including the insertion of analytical blanks and standards at regular intervals. Core size was NQ. Intervals reported in this news release are core intervals. Additional drilling is required to fully understand the difference between core intercept and true width. All samples returning greater than 0.1 g/t Au are reported in the above table.
 Caron, L., 2003. Assessment Report on the Athelstan-Jackpot Property, Trenching and Rock Sampling, for M. Hallauer and T. Hallauer. BC MEMPR Assessment Report 27302
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.
- Assessment Report on the Athelstan-Jackpot Property, By Linda Caron, M.Sc., P.Eng, August 30, 2004.
ON BEHALF OF THE BOARD OF DIRECTORS
George Sookochoff, CEO/President
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