(TheNewswire)
Vancouver, B.C. Canada – TheNewswire - September 20, 2022 - Belmont ResourcesInc. (“Belmont”), (or the “Company”),(TSXV:BEA ) ; ( FSE:L3L2) is pleased to announce ithas begun its Phase II 2022 exploration program on its 100% ownedCu-Au Come By Chance (CBC) Porphyry project located in southern B.C.
Belmont geologists are currently on the CBC property‘ground truthing’ areas of coincident geophysical targets locatedin the central and northern portion of the property. Ground truthinginvolves detailed mapping and rock sampling on surface of coincidentgeophysical anomalies. Exploration results to date shows this area tobe the potential core of the apparent porphyry system.
Data from the current ground truthing survey will beadded to the overall CBC exploration database and 3D modeling resultswill be utilized to more precisely vector in on and further refine thelocation of the porphyry to determine more definitive drill targetsfor an upcoming Phase II drill program some time before the yearend.
Phase I Exploration andDrilling
Exploration on the CBC to date has focused onidentifying a potential concealed porphyry intrusive of copper-goldmineralization. 2021 geophysics and a subsequent Phase I 2022 - 2,300mdrill program further supported the copper-gold porphyry model ininitially identifying porphyry style alteration, veining andmineralization. Phase I 2022 drilling identified:
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Extensive Propylitic (chlorite, epidote, albite andcarbonate) alteration encountered in all six drill holes. Common tomost porphyry deposit types, large propylitic alteration forms ashalos to the core of porphyry deposits.
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Extensive pyrite mineralization (up to 20%). Pyritehalos are another important vector which helps in locating possibleporphyry core.
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Skarn mineralization. Skarns near porphyry deposits arecommonly inextricably part of the larger Cu-Au system(s).
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Structural Lineaments. Junctions of structurallineaments may create a point of weakness that could have beenexploited by the porphyry intrusive. The Crook Lake Caldera is anindicated volcanic caldera with indicated hydrothermal breccias andpotential mineral controlling structures andcross-structures.
Phase II Exploration
Exploration is now focused on the apparent core of thesystem which has:
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A strong coincident magnetic low (magnetite destructive potassicalteration ?)
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Resistivity low – highly conductive anomaly (possiblydue to sulphide rich porphyry core?)
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Enveloped by peripheral pyrite-rich, propylitic alteration , common in porphyry systems. In this particular case a ringstructure around a volcaniccaldera
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This central zone is bounded by two regionalstructurally controlling faults.
These geophysical results areclassic expressions of a large porphyry copper system.
George Sookochoff, President and CEO commented:"All exploration results to date continue to support a largecopper-gold porphyry model. The identification of the outer Propyliticalteration zone and the high chargeable Pyrite halo in combinationwith certain coincident geophysical anomalies has provided us withimportant vectors which further points to the apparent porphyry core.We plan to drill test this exciting porphyry core target before yearend.”
About the Come By ChanceProject
The Come By Chance (CBC) property is situated in theGreenwood mining camp, considered to be one of the highestconcentrated areas of past producing mines in North America.
Although the Phoenix mine was the major producer, someof the smaller mines were also productive from a number of differenttypes of deposits. From 1900 to 1975 production from these 26principal mines produced over 600 million pounds of copper and 1.4million ounces of gold (Church, 1986).
The CBC Property, located three kilometres to the southeast of the Phoenix deposits, is on acomparative geological trend and hosting skarn, epithermal,volcanogenic, and massive sulphide mineralization.
Early exploration in the 60’s – 70’s on the CBCwas for a Phoenix type skarn mineralization. However, the historicexploration results were successful in revealing indications of apotential concealed porphyry intrusive of copper/gold mineralization.The numerous localized skarns discovered on the property were even agreater significance as the skarns were obviously related to risinghydrothermal fluids via structures/fractures from a mineral-bearingintrusive.
Belmont acquired the CBC property in 2020 andimmediately focused its exploration efforts on the discovery of apotential deep-seated copper/gold porphyritic, bulk tonnage, mineralresource as opposed to a mineral bearing skarn resource.
These efforts have thus far proven to be successful inthe further identifying the central core of the porphyrysystem.
About Belmont Resources
Belmont Resources has assembled a portfolio of highlyprospective copper-gold-lithium & uranium projects located inBritish Columbia, Saskatchewan, Washington and Nevada States. Itsholdings include the Come ByChance (CBC), Athelstan-Jackpot (AJ) and Pathfinder situated in the prolific Greenwoodmining camp in southern British Columbia. The Crackingstone Uraniumproject in the uranium rich Athabaska Basin of northern Saskatchewan.The Lone Star copper-goldmine in the mineral rich Republic mining camp ofnorth central Washington State. The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton ValleyBasin.
The Belmont project portfolio:
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Athelstan-Jackpot , B.C. – * Gold-Silver mines
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Come By Chance ,B.C. – * Copper-Gold mine
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Lone Star ,Washington – * Copper-Gold mine
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Pathfinder ,B.C. – * Gold–Silver mines
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Kibby Basin, Nevada – Lithium
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Crackingstone, Sask. – Uranium
* past producing mine
NI 43-101 Disclosure:
The technical information in this news release has beenprepared in accordance with Canadian regulatory requirements as setout in National Instrument 43-101 and has been reviewed and approvedby Laurence Sookochoff, P.Eng.
ON BEHALF OF THE BOARD OF DIRECTORS
“GeorgeSookochoff”
George Sookochoff, CEO/President
Ph: 604-505-4061
Email: george@belmontresources.com
Website: www.BelmontResources.com
We seek safe harbor. Neither TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. The TSX Venture Exchange has notapproved nor disapproved of the information containedherein .
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