Vancouver, B.C. Canada, February 23, 2021; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA;   FSE: L3L2 is pleased to provide an update on the company’s diamond drill program on the A-J Property near Grand Forks.  Six holes have been completed thus far and the seventh hole is underway.  To date, 1530 m of the planned 2000 m drill program has been completed.

Drilling has intersected multiple zones of silicification and sulfide mineralization within feldspar porphyry intrusive and listwanite. The strongest zones of alteration and mineralization seen in drill core have consistently been localized at contact zones between these two rock types. 

A noteworthy intercept is a broad zone of silicification and sulfide mineralization in hole AJ21-05, from 152.5 – 185.3 m, straddling the contact between feldspar porphyry intrusive above and listwanite below.  This >30 m interval contains disseminated pyrite throughout, with numerous zones of silicification, bleaching, argillic alteration, brecciation, multi-stage quartz-carbonate veining and local zones with up to 10% pyrite.

Belmont AJ Gold Project AJ21-05 drill core

Belmont AJ Gold Project AJ21-05 drill core

Another interval is a 2.3 m zone intersected at a depth of 36 m in hole AJ21-03.  Within this 2.3 m zone, fine grained pyrite, pyrrhotite, chalcopyrite, and arsenopyrite occur as massive sulfide bands and breccia zones that make up approximately 50% of the larger zone of silicification with disseminated sulfides.

Belmont AJ Gold Project AJ21-03 drill core

Belmont AJ Gold Project AJ21-03 drill core

Core logging and sampling is also progressing.  Sampling has been completed for hole AJ21-01 and 71 core samples have been submitted to ALS Geochemical Laboratory in Kamloops for preparation and for subsequent analysis at ALS’ North Vancouver facility. 

Belmont AJ Gold Project Drill Plan

Belmont AJ Gold Project Drill Plan

George Sookochoff, President & CEO of Belmont commented “In our drilling to date we have seen strong alteration and mineralization throughout the drill area. The system remains open in all directions. Our drilling has been moving at a fast pace and as we near the end of our initial 2,000m drill program we will pause and allow time for our geologists to catch up on the logging of drill core as well as wait for the assay results in order to review all the new data before proceeding to the next stage.”

About Belmont Resources Inc.

Belmont Resources Property-Map

Belmont Resources Property-Map

Belmont Resources is engaged in the business of acquiring past producing gold-copper mines located in the highly prospective Greenwood-Republic mining camps. By utilizing new exploration technology and geological modelling the company is identifying possible sources of gold-copper mineralization beneath the relatively shallow past producing mines.

The Belmont project portfolio includes:

Athelstan-Jackpot, B.C. – 100%, Athelstan & Jackpot Gold mines

Pathfinder, B.C. – 100%, Bertha & Pathfinder Gold-Silver mines

Come By Chance, B.C. – 100%, Betts Copper-Gold mine

Lone Star, Wash.  – LOI, Lone Star Copper-Gold mine

Kibby Basin, Nevada – 100%, Lithium

Crackingstone, Sask – 50%, Uranium

 

Qualified Person

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.

Intervals reported in this news release are core intercepts.  The relationship between core intercept and true width of mineralization is unknown at this time

 

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-683-6648

Email: george@belmontresources.com

Website: www.BelmontResources.com

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.