Prime potential lode-gold deposit target in North Zone

Vancouver, B.C. Canada, April 12, 2021; Belmont Resources Ltd. (“Belmont”), (or the “Company”), (TSX.V: BEA;   FSE: L3L2) is pleased to announce plans for a 2,500 meter drill program at its 100% owned Althelstan-Jackpot (A-J) gold project in southern British Columbia.

Drilling will target of a multi coincident geophysical anomaly overlain by diorite (intrusive?) and listwanite situated in the North Zone of the property.

The Jackpot fault directly intersects this anomalous zone providing a conduit for the hydrothermal fluids and subsequent precipitation of gold mineralization.

Athelstan-Jackpot Geophysical Plan Sections

AJ Magnetic Low, Chargeability High, Resistivity High coincident anomaly intersected by Jackpot fault

Athelstan-Jackpot Geophysical Vertical Sections

AJ Magnetic and IP Vertical Sections and Proposed Drilling


Listwanite and Gold Mineralization

Listwanite (carbonated serpentinite) is a term to describe the silica-carbonate alteration of serpentinite and is commonly associated with high-grade lode-gold mineralization.

The Mother Lode gold district in California and the Abitibi greenstone belt of the Superior Province of Canada are two of the most well-known examples of listwanite-associated lode-gold in North America. In general, the richest gold grades within these deposits are associated with, or in close proximity to carbonate-altered ultramafic rocks (Listwanite). Listwanite is also directly associated with several multi-million ounce gold deposits in British Columbia, Atlin, Bralorne and Barkerville.

Athelstan-Jackpot Geology Map

Listwanite and Serpentinite

During the serpentinization process any gold present in the serpentine may be assimilated with secondary sulfides and/or magnetite and could be indicative by the magnetic anomalies within the property.”

These opaque minerals (magnetite) are subsequently destroyed in talc-carbonate alteration zones (magnetic low features), which results in gold being released from the serpentinite wall rocks and transported in solution. The gold and silica-rich fluids are transported to higher crustal levels via faults where the change in conditions (lower temperature, pH and ƒO2) results in the precipitation of gold, quartz and sulfides. All of the historic production from the property, and the vast majority of the previous exploration, has been directed at massive sulfide and oxidized sulfide zones within listwanite.

Structurally Controlled and Diorite Hosted Mineralization

The geologic favorability for a gold resource in the North Zone area is not only related to listwanite  mineralization potentially gleaned from the serpentine but from potential concealed intrusives which are indicated by magnetic lows in the center and north areas of the property and associated with the Jackpot fault.

Areas mapped as “old diorite” may be diorite intrusions which has undergone a higher degree of hydrothermal alteration (mag low) than the adjacent serpentine (mag high). These intrusions are also coincident with geophysical and magnetic anomalies making for high priority drill targets.

A 1983 report by J.S. Kermeen, M.Sc, P.Eng stated “The most prevalent rock, at least on surface, on the property is a serpentinite believed to be derived from an ultramafic igneous rock (sill, flow or pyroclastic?)”

“The next most prevalent rock on the property is a rock given a field classification of diorite which appear to be intrusive with dikes of diorite composition cutting the serpentinite.”1.

A second apparent diorite intrusion is in the northern portion of the property. This diorite is also coincident with a strong magnetic low suggesting hydrothermal activity. This area will be further investigated for gold mineralization.

An understanding of the relative distribution of the individual components of the alteration suite could then be applied as exploration vectors towards potential gold deposits.

Based on these exploration vectors the A-J North Zone is a prime area for the discovery of a potential lode-gold deposit.

A-J South Zone

Surface and Near Surface Bulk Tonnage Gold Prospect

AJ South Zone Cross Section

AJ South Zone Section Map


AJ South Zone Gold Sampling

A 2002 Report by R.E. Miller B.Eng., P.Geo states “A potential resource of 2,000‐5,000 ounces of gold in the surface and near surface mineralized areas appears to exist within the A‐J Group based on previous trenching results and sampling of mine dumps. The identification of one to two areas of ore have been identified having dimensions of 2.0 metres thick, 15 metres in width and 90 metres in length with an average grade of 0.3 opt gold.”2

Belmont is planning to process the surface and near surface gold material from the South Zone utilizing new and cost effective methods of recovery of gold. Belmont sees this as an excellent opportunity to generate cash flow to finance further exploration on its projects while minimizing share dilution.

Sample gold material will be delivered to EnviroMetal Technoligies in Burnaby, British Columbia for testing.

EnviroMetal’s unique formula offers a cost-effective and eco-friendly alternative to the traditional use of cyanide and smelting and is produced by combining safe FDA-approved ingredients with water.

EnviroMetal’s unique formula offers a cost-effective and eco-friendly alternative to the traditional use of cyanide and smelting and is produced by combining safe FDA-approved ingredients with water.

The leach process is quite simple and typically takes only 2 to 24 hours and typically achieves over 96% recoveries. Gold is recovered from the pregnant solution using conventional electrowinning processes. All reagents and rinse waters are reused providing a near-zero environmental footprint.

  1. A Report On The Athelstan-Jackpot Mineral Property Of Rimacan Resources Ltd By J.S. Kermeen, M.Sc, P.Eng., June 3, 1983
  1. 2002 Summary Report on the A-J Group, Greenwood Mining Division by R.E. Miller B.Eng. Sci., P.Geo February 2002

George Sookochoff, President & CEO commented, “I am excited to be returning to our A-J gold project.

Our 2021 and first drill program focused on an area around the Athelstan gold mine, one of two past producing gold mines in the southern portion of the property. This was a natural choice as the old adage says “Where’s the best location to look for gold? Near a gold mine!”

Although the A-J North Zone is in an area of listwanite and serpentinite similar to the two AJ mines to the south, there are several additional important exploration vectors such as the “diorite” factor, which makes this area very compelling to drill for a potential gold resource.

As for the A-J South Zone I am looking forward to the opportunity of generating cash flow in the relatively short term by processing easily accessible gold material using new and cost effective environmentally friendly technologies.

Our original plans were to drill our Come By Chance (CBC) copper-gold property just 500 metres east of the AJ gold project, however with the current global political and banking turmoil and gold prices appearing to remain strong, we felt the time was right to drill for gold as well as extract and process surface gold material. That’s the advantage of Belmont’s portfolio of excellent mineral projects and being able to adapt quickly to changing global and market conditions

We are planning to complete our previously announced financing by month end at which time the ground conditions at A-J will be ideal for drilling.”

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/REE project in the uranium/REE Beaverlodge district 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
Belmont Resources Rich Portfolio of Projects

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.


“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-505-4061



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