Vancouver, B.C. Canada, January 12, 2021; Belmont Resources Ltd. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is pleased to announce signing of a drilling contract for the Athelstan Jackpot (A-J) gold project in the Greenwood mining camp of southern British Columbia, with commencement scheduled February 2021. The drilling program will be the first undertaken by Belmont at the project and represents a significant milestone for the Company following closing of a recent financing.
Drilling will be completed by Hardrock Diamond Drilling Ltd. based in Penticton, B.C. The contracted program is for 2,000m in up to eight holes, with an opportunity to expand the program based on positive results.
The A-J property has two past producing 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.
First drilling into the recently discovered deeper target.
A series of exploration programs carried out in 2020 consisting of LIDAR, 3DIP and airborne magnetics have delineated strong coincident anomalies only 150 meters below the two former gold mines which may be possible causative source(s) of extensive gold mineralization at surface including the two gold mines themselves. Historic diamond drilling on the A-J property (1981, 1987, 1991) were primarily very shallow holes and these anomalies remain untested.
George Sookochoff, President & CEO, commented “Our 2020 exploration work has helped us in our interpretation of the gold mineralization on the A-J property and has significantly de-risked the project and increased our chances of success for our upcoming drill program. This is certainly a milestone for the A-J project and Belmont shareholders.”
About Belmont Resources Inc.
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
ON BEHALF OF THE BOARD OF DIRECTORS
George Sookochoff, CEO/President
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