Come By Chance (CBC) Copper-Gold Project

Vectoring Towards a Large Copper-Gold Porphyry System

“The initial geophysics along with the subsequent alteration and mineralization observed in drill core from all six holes, suggests that we have potentially drilled the periphery of a new porphyry copper-gold system in British Columbia.” comments George Sookochoff, Chief Executive Officer. “We are just beginning to unlock the untapped potential of the CBC porphyry project

CBC-Mag-Inversion-Section
Belmont CBC project IP-Mag-plans-and-sections

Phase II 2022 Exploration is Now Focused on Apparent Porphyry Core

Exploration is now focused on the apparent core of the system which has:

  1. A strong coincident magnetic low (magnetite destructive potassic alteration?)
  2. Resistivity low – highly conductive anomaly (possibly due to sulphide rich porphyry core?)
  3. Enveloped by peripheral pyrite-rich, propylitic alteration, common in porphyry systems. In this particular case a ring structure around a volcanic caldera.
  4. This central zone is bounded by two regional structurally controlling faults.

Phase I 2022 Drill Highlights

  • The phase one program comprised of 6 diamond drill holes totaling 2,304 meters. The program targeted areas with magnetic, chargeability and resistivity anomalies  with targets refined by known surface showings when available.
  • The drill program confirms porphyry style alteration, veining and mineralization over an initial area measuring 1,300 meters by 900 meters.
  • Extensive Propylitic (chlorite, epidote, albite and carbonate) alteration encountered in all six drill holes. Common to most porphyry deposit types, large propylitic alteration forms as halos to the core of porphyry deposits.
  • Extensive pyrite mineralization (up to 20%). Pyrite halos are another important vector which helps in locating possible porphyry core.
  • Drill holes CBC-22-01, 02, 03, and 05 were dominated by propylitic alteration with localized skarn alteration which is distal to a possible heat source like those known elsewhere to host porphyry-style mineralization.
Belmont Conceptual Porphyr Model
British Columbia Copper-Gold Porphyries

The CBC property is situated on the Quesnel Terrane along with several other large copper porphyry deposits/mines.

Belmont Resources Properties Map

Over 40 historic mines in the Greenwood mining camp.

CBC Drill Hole Locations

CBC 2022 drill hole locations

Summary

The CBC Phase I drill program was very important in that the results further support a copper-gold-porphyry model.

> By intercepting significant intervals of propylitic alteration it shows us where we may be in the various zonations of a copper porphyry system ie. Propylitic, Phyllic or Potassic.

> Also significant amounts of chlorite, epidote and carbonates were associated with the Propylitic alteration which is also very important for confirming the position in the porphyry zonations.

> An abundance of pyrite rich zones were intercepted which is common to copper porphyries. This fact accounted for the chargeability highs in the IP survey. We can also see from the IP chargeability results there is a charge-hi anomaly encircling the center of the property which may possibly be a pyrite halo around a porphyry core. Drill hole CBC 22-04 intercepted upto 20% pyrite which indicates that hole may be close to Phyllic zone of the system.

> Elevated molybdenum was also noted in these holes. This indicates a slight increase in hydrothermal fluid temperature, with an accompanying transition from the propylitic and localized skarn alteration seen elsewhere to a weak phyllic alteration here.

> Localized skarn alteration which is distal to a possible heat source like those known elsewhere to host porphyry-style mineralization.

> Copper grades were consistently very low (.01% – 0.65%) which initially was disappointing. But once we understood that we were drilling in the Propylitic alteration zone it became apparent that the low grades in this area were normal. Copper and gold mineralization is typically associated mainly with the Potassic alteration zone of the porphyry system with the peripheral Propylitic alteration zone being copper poor.

From the original geological mapping, geophysical survey and now the first drilling we have gained a considerable amount of knowledge and a much better understanding of the CBC project. We will continue to thoroughly review and 3D model all the data and begin selecting new targets for a Phase II drill program in late fall of 2022.

Phase II Drill Program

Belmont is incorporating the drill results with 2021 geophysical data along with more detailed mapping to assist in vectoring toward the core of the porphyry system. Drilling is planned for late fall.

The CBC property is close to infrastructure (10 minutes from downtown Grand Forks, B.C.)  and is accessible all year round. Belmont has a 5 year drilling permit of the CBC property.