Vancouver, B.C. Canada, April 20, 2022; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is pleased to announce that that its maiden diamond drilling program is ongoing on its 100% owned Come By Chance (CBC) project (the “Property”) located in the prolific Greenwood mining camp in southern British Columbia.
Come By Chance Drilling Target Areas
Five drill holes for a total of 1,650 metres of core drilling has been completed to date out of the planned 2,100 metre drill program. The phase-one program has focused on the Betts, Iron Chief and Lady M zones where 2021 geophysical surveying has identified geophysical anomalies associated with high grade copper-gold grab sampling results.
The phase-one drilling was designed to initially test certain geophysical anomalies for mineralization and determine which combined geophysical signatures (magnetic, chageability and resistivity high-lows) best correlate to mineralization. The identified composite signature will then be used to better delineate further drill targets in phase-two drilling.
Assay results from the drill program will be released on a timely basis once results have been received from the laboratory. A total of 400 samples were bagged and tagged using best practices and were delivered to MSALABS, Langley, B.C., for sample preparation and analyses. MSALABS is an independent commercial, accredited ISO Certified Laboratory. First results are expected within four weeks.
About the Come By Chance Project
The Come By Chance (CBC) 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 produced over 600 million pounds of copper and 1.4 million ounces of gold (Church, 1986).
The CBC Property, located three kilometres to the southeast of the Phoenix deposits, is on a comparative geological trend and hosting skarn, epithermal, volcanogenic, and massive sulphide mineralization.
Historic exploration revealed many indications to a potential concealed intrusive of copper/gold mineralization in the skarns, the free gold, epithermal zones, and a massive sulfide epithermal zone. There are also indications of a potential porphyry/skarn linkage (Evans, 2005).
Lone Star Drilling
Drilling at the Lone Star Copper-Gold project is ongoing with 6,100 metres of a +7,000 metre drill program completed to date.
Purpose of the drill program to:
1) Validate the historical 250 drill hole database and historic resource model;
2) Achieve an infill drill hole spacing that is appropriate for advancing the 2007 historic inferred mineral resource to a current measured and indicated resource category;
3) Test for extensions of the historical resource both laterally and at depth;
4) Deliver a 43-101/JORC compliant mineral resource estimate and a Preliminary Economic Assessment (Q3-2022).
Kibby Basin Lithium Project
A 2,500 metre drill program is planned for May 2022. Drilling will target a large highly conductive anomaly (brine lithium) beneath the Kibby Basin playa. The Kibby Basin Lithium property has similar characteristics to the Clayton Valley Basin situated 60kms to the south.
Kibby Basin Conductive Anomaly – Drill Target
About Belmont Resources Inc.
Belmont Resources is engaged in the business of acquiring and re-developing past producing copper-gold-silver mines in southern British Columbia and Northern Washington State. This region is considered to have the highest concentration of mineralization and past producing mines in western North America. By utilizing new exploration technology, geological modelling and specialized 3D data analysis, the company is successfully identifying new areas of mineralization beneath and/or in the near vicinity of the past producing mines.
The Company’s project portfolio includes 6 past producing mines:
- Athelstan-Jackpot, B.C. – *Gold-Silver mines
- Come By Chance, B.C. – * Copper-Gold mine
- Lone Star, Washington – *Copper-Gold mine
- Pathfinder, B.C. – * Gold–Silver mine
- Black Bear, B.C. – Gold
- Pride of the West, B.C.- Gold
- Kibby Basin, Nevada – Lithium
* past producing mine
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.