“The alteration and mineralization observed in drill core from all six holes, suggests that we have potentially drilled the periphery of a new porphyry copper-gold system in British Columbia.” comments George Sookochoff, Chief Executive Officer. “We are just beginning to unlock the untapped potential of the CBC porphyry project
- The CBC Property is situated on the Quesnel Terrane, a geological formation which hosts several large copper-gold porphyry deposits such as Copper Mountain, Afton, Highland Valley and Mount Milligan.
- The 2,304 meter drill program confirms porphyry style alteration, veining and mineralization over an initial area measuring 1,300 meters by 900 meters.
- Extensive Propylitic (chlorite, epidote, albite and carbonate) alteration encountered in all six drill holes. Common to most porphyry deposit types, large propylitic alteration forms as halos to the core of porphyry deposits.
- Extensive pyrite mineralization (up to 20%). Pyrite halos are another important vector which helps in locating possible porphyry core.
- Drill holes CBC-22-01, 02, 03, and 05 were dominated by propylitic alteration with localized skarn alteration which is distal to a possible heat source like those known elsewhere to host porphyry-style mineralization.
Cross section of a porphyry copper deposit showing idealized alteration zoning (after Lowell and Guilbert, 1970).
- Skarn assemblages variably including epidote-magnetite-garnet-chlorite-hematite-carbonate-quartz with pyrite. Copper skarn deposits occur near many porphyry copper host intrusions that intruded carbonate-bearing units (Einaudi and others, 1981), and skarn mineral zoning patterns may be useful in the targeting of a potentially associated porphyry copper deposit (Meinert and others, 2005).
- Drill holes CBC-22-04 and 06 showed increasing pyrite-pyrrhotite mineralization along with quartz and sericite and other clay mineral alteration. Elevated molybdenum was also noted in these holes. This indicates a slight increase in hydrothermal fluid temperature, with an accompanying transition from the propylitic and localized skarn alteration seen elsewhere to a weak phyllic alteration here
- Geophysics provides further vectors pointing towards a possible porphyry core.
Systematic modeling of 2010-11 geophysical data has highlighted a total magnetic intensity, apparent conductivity and resistivity features of interest including a coincident magnetic low to high transition interpreted to represent magnetite destruction, a resistivity low reflecting alteration or a buried intrusion and an apparent conductivity high which may represent the presence of sulphide minerals associated with alteration or mineralization.These geophysical features together are considered a high priority anomaly and potential new drill targets.
The CBC Phase I drill program was very important in that the results further support a copper-gold-porphyry model.
> By intercepting significant intervals of propylitic alteration it shows us where we may be in the various zonations of a copper porphyry system ie. Propylitic, Phyllic or Potassic.
> Also significant amounts of chlorite, epidote and carbonates were associated with the Propylitic alteration which is also very important for confirming the position in the porphyry zonations.
> An abundance of pyrite rich zones were intercepted which is common to copper porphyries. This fact accounted for the chargeability highs in the IP survey. We can also see from the IP chargeability results there is a charge-hi anomaly encircling the center of the property which may possibly be a pyrite halo around a porphyry core. Drill hole CBC 22-04 intercepted upto 20% pyrite which indicates that hole may be close to Phyllic zone of the system.
> Elevated molybdenum was also noted in these holes. This indicates a slight increase in hydrothermal fluid temperature, with an accompanying transition from the propylitic and localized skarn alteration seen elsewhere to a weak phyllic alteration here.
> Localized skarn alteration which is distal to a possible heat source like those known elsewhere to host porphyry-style mineralization.
> Copper grades were consistently very low (.01% – 0.65%) which initially was disappointing. But once we understood that we were drilling in the Propylitic alteration zone it became apparent that the low grades in this area were normal. Copper and gold mineralization is typically associated mainly with the Potassic alteration zone of the porphyry system with the peripheral Propylitic alteration zone being copper poor.
From the original geological mapping, geophysical survey and now the first drilling we have gained a considerable amount of knowledge and a much better understanding of the CBC project. We will continue to thoroughly review and 3D model all the data and begin selecting new targets for a Phase II drill program in late fall of 2022.
Phase II Drill Program
Belmont is incorporating the drill results with 2021 geophysical data along with more detailed mapping to assist in vectoring toward the core of the porphyry system. Drilling is planned for late fall.
The CBC property is close to infrastructure (10 minutes from downtown Grand Forks, B.C.) and is accessible all year round. Belmont has a 5 year drilling permit of the CBC property.
About the Come By Chance Project
The CBC Property is situated on the Quesnel Terrane, a geological formation which hosts several large copper-gold porphyry deposits such as Copper Mountain, Afton, Highland Valley and Mount Milligan.
The property is situated in the Greenwood mining camp, considered to be one of the highest concentrated areas of past producing mines in North America
Although the Phoenix mine was the major producer, some of the smaller mines were also productive from a number of different types of deposits. From 1900 to 1975 production from these 26 principal mines was over 600 million pounds of copper and 1.4 million ounces of gold (Church, 1986).
The property contains mineralized skarns and epithermal zones, which are potentially associated with a concealed porphyry intrusive of copper/gold mineralization.
About Belmont Resources
Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium & uranium projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include the Come By Chance (CBC), Athelstan-Jackpot (AJ) and Pathfinder situated in the prolific Greenwood mining camp in southern British Columbia. The Crackingstone Uranium project in the uranium rich Athabaska Basin of northern Saskatchewan. The Lone Star copper-gold mine in the mineral rich Republic mining camp of north central Washington State. The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin.
NI 43-101 Disclosure:
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and has been reviewed and approved by Laurence Sookochoff, P.Eng. Mr. Sookochoff is a Director of Belmont Resources Inc.
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.