Vancouver, B.C. Canada, November 30, 2020; Belmont Resources Ltd is pleased to announce that permit approval has been granted by the British Columbia Ministry of Energy and Mines for drilling on the Company’s A-J gold project, located in southern British Columbia. This is a five-year area-based permit covering surface exploration and drilling.

Further to receipt of the permit, the Company will undertake a 2,000-metre drilling program to test a strong coincident resistivity-chargeability anomaly situated 150 meters beneath two mineralized gold trends including the former producing Athelstan and Jackpot gold mines.

Belmont Resources A-J Mineralized Trends and Gold Mines

Belmont Resources A-J Mineralized Trends and Gold Mines

A-J Mines & Mineralized Trends

The East-West ‘A-J’ mineralized trend extends over an approximate area of 240 by 1,000 metres and includes the past producing Athelstan and Jackpot gold mines which collectively produced 7,600 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The A-J Group was one of the most productive gold mines in the Greenwood mining district of southern British Columbia.

The second is the North-South ‘Contact’ mineralized gold trend. Past trenching and sampling in this trend has identified three mineralized gold zones; J34, J12 & ‘A’ Zones. Sampling has returned gold grades as high as 35.2 g/t Au over 3.0 meters (2002 chip sampling[1]).

A-J-Trend-Resistivity 3DIP Section

A-J-Trend-Resistivity 3DIP Section

A-J Trend 3DIP Resistivity Cross Section

Both mineralized trends are defined by strong resistivity anomalies. The resistivity high anomalies are interpreted as representing silica altered rock which includes quartz veining and listwanite. Listwanite is a key ultramafic rock alteration directly associated with several multi-million ounce gold deposits in Atlin, Bralorne and Barkerville districts of British Columbia as well as the Motherlode District in California.

3D-IP sections along the two trends indicate potential altered silica feeders to the two mines as well as other areas along the trends.

The resistivity anomalies are underlain at depth by a strong chargeability anomaly, measuring 800 x 1000m and at a depth of approximately 150m below the two mineralized trends.

A-J-Trend-Chargeability 3DIP Section

A-J-Trend-Chargeability 3DIP Section

A-J Trend Chargeability Cross Section

On surface, disseminated sulfides occur within dykes and tongues of altered porphyritic intrusive that both cut and underlie the north-dipping band of listwanite. 

The large chargeability anomaly may reflect important mineralization within a large intrusive body and could be the causative source of mineralization at surface.

A-J-trend-coincident resistivity-chargeability anomaly-Section

A-J-trend-coincident resistivity-chargeability anomaly-Section

A-J Trend Coincident Chargeability-Resistivity Anomaly

George Sookochoff, President & CEO commented “The historic gold miners have mined an extensive amount of gold and silver from relatively shallow underground mines. Our recent LIDAR, magnetic and 3D-IP surveys have delineated a large target 150m below their mines which may be the source of gold they mined at surface.”

“But ultimately drilling will tell and that’s what we are now prepared to do!

[1] 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 Property-Map

Belmont Resources Property-Map

Belmont Resources is a British Columbia based junior mining company engaged in the business of acquiring past producing gold-copper mineral properties located in the highly prospective Greenwood-Republic mining camps. Belmont is utilizing new exploration technology as well as new geological modelling to identify gold-copper mineralized feeder systems to the relatively shallow historic 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.

 

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.

This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control.  Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties.   Actual events or results could differ materially from the Companies forward-looking statements and expectations.   These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.