(TheNewswire)
Belmont Identifies New Porphyry Mineralization With First DrillProgram
at CBC Project, British Columbia
“The alteration and mineralization observed in drill core from allsix holes, suggests that we have potentially drilled the periphery ofa new porphyry copper-gold system in British Columbia.” commentsGeorge Sookochoff, Chief Executive Officer. “We are just beginningto unlock the untapped potential of the CBC porphyry project.
Highlights
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The CBC Property is situated on the Quesnel Terrane, a geologicalformation which hosts several large copper-gold porphyry deposits suchas Copper Mountain, Afton, Highland Valley and Mount Milligan.
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The 2,304 meter drill program confirms porphyry style alteration,veining and mineralization over an initial area measuring 1,300 metersby 900 meters.
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Extensive Propylitic (chlorite, epidote, albite and carbonate)alteration encountered in all six drill holes. Common to most porphyrydeposit types, large propylitic alteration forms as halos to the coreof porphyry deposits.
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Extensive pyrite mineralization (up to 20%). Pyrite halos are anotherimportant vector which helps in locating possible porphyry core.
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Drill holes CBC-22-01, 02, 03, and 05 were dominated by propyliticalteration with localized skarn alteration which is distal to apossible heat source like those known elsewhere to host porphyry-stylemineralization.
(Cross section of a porphyry copper deposit showing idealizedalteration zoning (after Lowell and Guilbert, 1970).
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Skarn assemblages variably includingepidote-magnetite-garnet-chlorite-hematite-carbonate-quartz withpyrite. Copper skarn deposits occur near many porphyry copper hostintrusions that intruded carbonate-bearing units (Einaudi and others,1981), and skarn mineral zoning patterns may be useful in thetargeting of a potentially associated porphyry copper deposit (Meinertand others, 2005).
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Drill holes CBC-22-04 and 06 showed increasing pyrite-pyrrhotitemineralization along with quartz and sericite and other clay mineralalteration. Elevated molybdenum was also noted in these holes. Thisindicates a slight increase in hydrothermal fluid temperature, with anaccompanying transition from the propylitic and localized skarnalteration seen elsewhere to a weak phyllic alteration here
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Geophysics provides further vectors pointing towards a possibleporphyry core.
Vancouver, B.C. Canada – TheNewswire - July 14, 2022; BelmontResources Inc. (“Belmont”), (or the “Company”),(TSXV:BEA ) ; ( FSE:L3L2) is pleased to report thePhase I 2022 drill program at its 100% owned Cu-Au Come By Chance (CBC) Property located insouthern B.C. was successful in further delineating a potential coppergold porphyry system.
The phase one program comprised of 6 diamond drill holes totaling2,304 meters. The program targeted areas with magnetic, chargeabilityand resistivity anomalies within the Betts, Lady M and Iron Chieftargets within the CBC property, with targets refined by known surfaceshowings when available.
Drill Hole Summaries
CBC-22-01
This drillhole targeted a magnetic high-to-low transition and achargeability high and resistivity low. The dominant lithology was afine-grained tuffaceous volcanic with the alteration dominated by apropylitic assemblage with pervasive chloritization and patchy epidotebands. Mineralization can be generalized as minor but ubiquitouspyritic stringers and disseminations with uncommon chalcopyrite inquartz-pyrite veins. The most promising mineralization was fromapproximately 106–120 m and included several loose bands and veinsof coarse pyrite-magnetite-chalcopyrite associated with quartz veinsand local flooded silica. (Fig. 3).
Figure 2. Pyrite-magnetite-chalcopyrite quartz veins(CBC-22-01; 113.8 m).
Figure 3. Sooty pyrite replacements within vuggysilica-carbonate and bleached wall rock (CBC-22-01; 186.85 m).
CBC-22-02
This drillhole targeted near a linear magnetic trend and into achargeability high and resistivity high and collared south of thehistoric Betts workings. The dominant lithology was a fine-grainedtuffaceous volcanic, interrupted by minor augite-phyric flows andlocally clast-bearing volcanics. The alteration was dominated by apropylitic assemblage with pervasive chloritization and patchy epidotebands. Mineralization was not as strong as in CBC-22-01
Figure 4. Bleached pyritic veining and breccia (CBC-22-02; 74.18m)
Figure 5. Quartz-pyrite-chalcopyrite vein (CBC-22-02; 197.93 m).
Figure 6. Pyrite and minor magnetite band (CBC-22-02; 436.87 m).
CBC-22-03
This drillhole targeted a magnetic low and chargeability high andcollared southeast of the historic Betts workings. The dominantlithologies were fine-grained tuffs and limestones, although the tuffswere clast-bearing over larger intervals and with larger clasts thanin the previous two drillholes. The limestones are locally stronglyaltered over up to 19 meters to skarn assemblages variably includingepidote-magnetite-garnet-chlorite-hematite-carbonate-quartz withpyrite and trace chalcopyrite.
Figure 7. Pyritic silicified margin of skarning within limestone(CBC-22-03; 118.2 m).
Figure 8. Skarn alteration with pyrite and trace chalcopyrite(CBC-22-03; 136.5 m).
Figure 9. Quartz-pyrite-chalcopyrite vein (CBC-22-03; 413.5 m).
CBC-22-04
This drillhole targeted magnetic and resistivity lows and achargeability high, and a Au soil anomaly. The tuffaceous rocks hereare relatively texturally variable and overall relatively clastic andfragmental, including multiple intervals of plagioclase-phyric crystaltuffs which are ruled out as an intrusive unit based on theirunaltered contacts and occasional interbedding with other volcanicunits. The pervasive background chloritization and patchy epidote islocally bleached near intrusive contacts and shears, as well as thecommon quartz-carbonate-clay brecciation fills and flooding. Thesequartz-carbonate-clay zones can exceed 20 m in length and areaccompanied by pyrrhotite-pyrite disseminations and breccia fills withtrace chalcopyrite, locally exceeding 10–20% pyrite.
Figure 10. Quartz-carbonate with high pyrrhotite content, lesserpyrite and trace chalcopyrite (CBC-22-04; 13.15 m).
Figure 11. Pyritic quartz-carbonate breccia (CBC-22-04; 379.85 m).
CBC-22-05
View CBC-22-05 Drill Section
This drillhole targeted a NNW-trending magnetic anomaly and a mappedNE-trending monzonitic dike, as well as trending towards the historicIron Chief workings. Lithologies are mostly variable crystal-rich andfragmental tuffs with minor limestone. Propylitic alteration includespervasive chloritization and patchy epidote within volcanics, and weakto moderate chlorite-epidote within intrusives; near intrusivecontacts or shears, moderate to strong bleaching can occur. Aside froma 9 m interval at top of hole containing similar sulfidicquartz-carbonate-clay breccias to those in CBC-22-04, mineralizationis overall similar to CBC-22-01 and -02.
F igure 12.Quartz-pyrite-magnetite-chalcopyrite-chlorite vein (CBC-22-05; 289.9m).
Figure 13. Exposed quartz-pyrite-chalcopyrite veinlet withinplagioclase-phyric tuff (CBC-22-05; 229.59 m).
Figure 14. Quartz-pyrite-chalcopyrite vein with bladed hematiteand bleached selvage (CBC-22-05; 327.75 m).
CBC-22-06
This drillhole targeted the same magnetic and resistivity lows and achargeability high as CBC-22-04, but from the CBC-22-05 pad to thesoutheast of CBC-22-04. The dominant lithology was again tuffaceousvolcanics and subordinate limestone. Other lithologies include 39 m ofrelatively augite-rich magnetic diorite (seemingly distinct from themagnetite diorite of earlier holes), and a fine-grained crystal tuffor volcanic sandstone with fine depositional bedding preserved (26 m).Lithological complexity in the mixed volcanics generally increaseddown-hole. Propylitic alteration is dominantly chlorite and epidotewith local bleaching near some shears and brecciation, and the dioritecontains broad patches of weak to moderate bleaching andsericitization. The best mineralization resembled the breccia-relatedpyrrhotite-pyrite from CBC-22-04, although here is relativelypyrite-rich with less pyrrhotite and chalcopyrite.
Figure 15. Molybdenite and pyrite within quartz-carbonatebreccia (CBC-22-06; 155.86 m).
Figure 16. Rhodochrosite and pyrite within quartz-carbonatebreccia (CBC-22-06; 149.3 m).
Figure 17. Colloform pyrite within quartz-carbonate breccia(CBC-22-06; 220.5 m).
Systematic modeling of 2010-11 geophysical data hashighlighted a total magnetic intensity, apparent conductivity andresistivity features of interest including a coincident magnetic low to hightransition interpreted to represent magnetite destruction, a resistivity low reflecting alteration or a buried intrusion and an apparent conductivity high which may represent the presence of sulphide mineralsassociated with alteration or mineralization.These geophysicalfeatures together are considered a high priority anomaly and potentialnew drill targets.
Drilling Results
Drilling in the outer propylitic alteration zone of the CBC propertyreturned minimal copper grades, however this is not uncommon withcopper-gold porphyries where copper-gold mineralization occursprimarily within the potassic core and overlying phyllic zone withintensity of copper grade and alteration intensity decreasingoutwards.
Summary
The CBC Phase I drill program was very important in that the resultsfurther support a copper-gold-porphyry model.
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By intercepting significant intervals of propylitic alteration it shows us where we may be in the various zonations of a copperporphyry system ie. Propylitic, Phyllic or Potassic.
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Also significant amounts of chlorite, epidote andcarbonates were associated with the Propyliticalteration which is also very important for confirming the position inthe porphyry zonations.
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An abundance of pyrite rich zones were intercepted which iscommon to copper porphyries. This fact accounted for the chargeabilityhighs in the IP survey. We can also see from the IP chargeabilityresults there is a charge-hi anomaly encircling the center of theproperty which may possibly be a pyrite halo around a porphyry core.Drill hole CBC 22-04 intercepted upto 20% pyrite which indicates thathole may be close to Phyllic zone of the system.
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Elevated molybdenum was also noted in these holes. Thisindicates a slight increase in hydrothermal fluid temperature, with anaccompanying transition from the propylitic and localized skarnalteration seen elsewhere to a weak phyllic alteration here.
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Localized skarnalteration which is distal to a possible heatsource like those known elsewhere to host porphyry-stylemineralization.
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Copper grades were consistently very low (.01% - 0.65%) whichinitially was disappointing. But once we understood that we weredrilling in the Propylitic alteration zone it became apparent that thelow grades in this area were normal. Copper and gold mineralization istypically associated mainly with the Potassic alteration zone of theporphyry system with the peripheral Propylitic alteration zone beingcopper poor.
From the original geological mapping, geophysical survey and now thefirst drilling we have gained a considerable amount of knowledge and amuch better understanding of the CBC project. We will continue tothoroughly review and 3D model all the data and begin selecting newtargets for a Phase II drill program in late fall of 2022.
Phase II Drill Program
Belmont is incorporating the drill results with 2021 geophysical dataalong with more detailed mapping to assist in vectoring toward thecore of the porphyry system. Drilling is planned for late fall.
The CBC property is close to infrastructure (10 minutes from downtownGrand Forks, B.C.) and is accessible all year round. Belmont has a 5year drilling permit of the CBC property.
About the Come By Chance Project
The CBC Property is situated on the Quesnel Terrane, ageological formation which hosts several large copper-gold porphyrydeposits such as Copper Mountain, Afton, Highland Valley and MountMilligan.
The property is situated in the Greenwood mining camp, considered tobe one of the highest concentrated areas of past producing mines inNorth America
Although the Phoenix mine was the major producer, some of the smallermines were also productive from a number of different types ofdeposits. From 1900 to 1975 production from these 26 principal mineswas over 600 million pounds of copper and 1.4 million ounces of gold(Church, 1986).
The property contains mineralized skarns and epithermal zones, whichare potentially associated with a concealed porphyry intrusive ofcopper/gold mineralization.
About Belmont Resources
Belmont Resources has assembled a portfolio of highly prospectivecopper-gold-lithium & uranium projects located in BritishColumbia, Saskatchewan, Washington and Nevada States. Its holdingsinclude the Come By Chance (CBC), Athelstan-Jackpot (AJ) andPathfinder situated in the prolific Greenwood mining camp in southernBritish Columbia. The Crackingstone Uranium project in the uraniumrich Athabaska Basin of northern Saskatchewan. The Lone Starcopper-gold mine in the mineral rich Republic mining camp of northcentral Washington State. The Kibby Basin Lithium project located 60kilometers north of the lithium rich Clayton Valley Basin.
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 been prepared inaccordance with Canadian regulatory requirements as set out inNational Instrument 43-101 and has been reviewed and approved byLaurence Sookochoff, P.Eng. Mr. Sookochoff is a Director of BelmontResources Inc.
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
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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