(TheNewswire)
-
Final assay results received fromPhase 1 drilling program, which consisted of 46 diamond drill holesfor 7,888 metres.
-
Significant zones of copper and goldmineralisation include:
width | % CuEq | % Cu | g/t Au | g/t Ag | from (m) | width (m) | % CuEq | % Cu | g/t Au | g/t Ag | drill hole | |
57.9 | 0.90 | 0.7 | 0.3 | 137.2 | incl. | 15.2 | 2.17 | 1.7 | 0.7 | 1.7 | (LS21-036) | |
18.9 | 2.22 | 1.7 | 0.8 | 223.1 | incl. | 8.2 | 4.27 | 3.2 | 1.6 | 2.9 | (LS21-037) | |
45.4 | 0.93 | 0.6 | 0.5 | 64.9 | incl. | 7.8 | 2.17 | 1.3 | 1.3 | 3.2 | (LS21-038) | |
12.3 | 2.08 | 1.6 | 0.7 | 3.7 | 285.1 | (LS21-049) |
-
The Company is advancing resourcesmodelling studies to produce a maiden JORC/43-101 2022 resourceestimate at the Lone Star deposit.
-
The modelling studies will continuefocussing on identifying economic global resources with a core (up to15m) of high-grade copper (up to 18.5% Cu), gold (up to 10.4g/t Au)and silver (up to 106 g/t Ag) contained within a wide zone (50m) ofmineralisation.
-
Multiple high-grade zones ofmineralisation intersected during the campaign to dateinclude:
width (m) | % CuEq | % Cu | g/t Au | from (m) | w idth (m) | % CuEq | % Cu | g/t Au | g/t Ag | drill hole | |
44.2 | 1.30 | 1.3 | 65.8 | incl. | 19.8 | 2.40 | 2.4 | (LS21-001) | |||
22.1 | 1.15 | 1.15 | 8.5 | incl. | 8.5 | 2.10 | 2.1 | (LS21-001) | |||
15.54 | 4.88 | 3.7 | 1.8 | 48.3 | incl. | 2.6 | 25.29 | 18.5 | 10.4 | (LS21-002) | |
149.4 | 0.70 | 0.7 | 4.6 | incl. | 4.6 | 4.03 | 3.1 | 1.3 | 11.7 | (LS21-016) | |
79.9 | 0.60 | 0.6 | 7.6 | incl. | 7.6 | 3.21 | 1.3 | 2.8 | 11.8 | (LS21-022) | |
70.7 | 0.70 | 0.7 | 134.1 | incl. | 3.4 | 14.25 | 4.3 | 14.9 | 29.5 | (LS21-039) |
Vancouver, B.C. Canada – TheNewswire - August 17, 2022; BelmontResources Inc. (“Belmont”), (or the “Company”),(TSXV:BEA ) ; ( FSE:L3L2) is pleased to announce thatBelmont’s JV partner Marquee Resources (ASX: MQR) (“Marquee”)announced the final assay results from the Lone Star Copper-GoldProject, Washington State, USA (Lone Star or the Project). Resultsfrom the final batch of assays continue to intersect a widemineralised envelope (up to 150m @ >0.5% Cu) with high-grademineralised zones (up to 19.8m @ >2% Cu) within the core of thesystem. The Company’s focus now turns to completion of a maiden,JORC/NI 43-101 compliant resource estimate.
President & CEO Comment:
George Sookochoff, President & CEO commented,“With receipt of the final assay results we have completed anothermilestone in the continuing development of the Lone Star deposit. Thedrilling has revealed high grade copper and significant amounts ofaccessory gold and silver which should potentially make a robustcontribution to an upcoming NI 43-101 compliant resourceestimate.”
About the Lone Star
The Lone Star deposit is interpreted to have elementsof structural and stratigraphic control with an overprinting porphyrycopper system. Structurally stacked ‘tectonic’ lenses of eastdipping, closely spaced, overlapping en-echelon zones of VMS-stylemassive sulphide have been structurally emplaced during thrusting overthe basal serpentinite unit.
At least eight individual zones have been interpretedand these zones range from 1 to 18 metres thick. Porphyry andhydrothermal fluids utilised the pre-existing structural architectureto deposit copper-gold mineralisation after the earlier thrustingevent.
Structurally controlled epithermal gold mineralisation,discordant with early base metal mineralisation, has also beenidentified hosted in veins, shear veins and breccia zones and isinterpreted to have been deposited syn-porphyry emplacement. At leastthree separate rhyolite sills, are fed by sub-vertical, structurallycontrolled, feeder dykes/zones.
The mineralised sub-vertical dykes/zones are estimatedto be approx. 20-40m wide, extend laterally for tens to hundreds ofmetres and are vertically extensive. Identification of the mineraliseddykes opens the possibility of defining significant additionalmineralisation outside the flat-lying, structurally remobilised basemetal mineralisation that has been historically identified.
Lone Star Update
The Phase 1 drilling program at Lone Star included 46diamond drillholes for 7,888m and assay results from all drillholeshave been received (Table 1). The Company’s focus has now shifted tocompleting a maiden JORC 2022 /NI 43-101 compliant resource inconjunction with consultants from Mining Plus Pty Ltd.
The Phase 1 drill program was designed to satisfy threekey objectives:
- validate the historical drill holedatabase and resource model;
- deliver a JORC 2022 /NI 43-101 compliantmineral resource estimate; and
- test for extensions to the historicalresource.
Table 1
Hole_ID | From (m) | To (m) | Interval(m) | CuEq(%) | Cu (%) | Au (g/t) | Ag (g/t) |
LS21-001 | 41.5 | 50.3 | 9.1 | 0.75 | 0.6 | 0.2 | 3.2 |
LS21-001 | 54.9 | 61.2 | 6.9 | 1.82 | 1.2 | 0.8 | 12.9 |
LS21-001 | 65.8 | 110 | 44.2 | 1.46 | 1.3 | 0.2 | 4.6 |
inc. | 65.8 | 88.7 | 19.8 | 2.78 | 2.4 | 0.5 | 6.7 |
LS21-001 | 115.8 | 138.7 | 19.1 | 0.40 | 0.4 | NSR | NSR |
LS21-001 | 140.4 | 162.5 | 22.1 | 1.41 | 1.2 | 0.3 | 2.2 |
inc. | 140.4 | 162.5 | 8.5 | 2.64 | 2.1 | 0.8 | 2.4 |
LS21-001 | 198.7 | 200.9 | 4.7 | 1.00 | 0.8 | 0.3 | 1 |
LS21-002 | 46.9 | 60.8 | 15.5 | 5.04 | 3.7 | 1.8 | 23 |
inc. | 56.7 | 59.3 | 2.6 | 26.06 | 18.5 | 10.4 | 106 |
LS21- 002 | 95.1 | 101.1 | 6 | 0.42 | 0.4 | NSR | 2.5 |
LS21-002 | 120.7 | 176.1 | 53.6 | 1.08 | 0.8 | 0.4 | 2 |
inc. | 167.6 | 176.1 | 7.6 | 3.06 | 2.1 | 1.4 | 6.2 |
LS21-002 | 193.8 | 194.7 | 0.9 | 4.61 | 3.8 | 1.2 | 4 |
LS21-002 | 199.3 | 200.5 | 1.2 | 4.27 | 3 | 1.9 | 4 |
LS21-002 | 202 | 203.6 | 1.6 | 1.57 | 0.9 | 1 | 2 |
LS21-003 | 72.4 | 77.4 | 5 | 4.35 | 3.5 | 1.1 | 17.5 |
LS21-003 | 125.6 | 147.9 | 22.3 | 1.06 | 0.8 | 0.4 | NSR |
inc. | 133.8 | 143.3 | 9.5 | 1.47 | 1.1 | 0.5 | 5.6 |
LS21-003 | 155.2 | 211 | 55.8 | 0.60 | 0.6 | NSR | NSR |
inc. | 165.9 | 175.1 | 9.2 | 1.20 | 1 | 0.3 | NSR |
LS21-004 | 7 | 14.6 | 7.6 | 1.40 | 1.2 | 0.3 | NSR |
LS21-005 | 42.98 | 49.83 | 6.9 | 0.55 | 0.4 | 0.2 | 2.1 |
LS21-005 | 84.1 | 92.1 | 7.9 | 1.26 | 1.1 | 0.2 | 4.7 |
LS21-006 | 99.7 | 111.6 | 11.9 | 2.33 | 1 | 2 | 3.3 |
inc. | 108.5 | 110.1 | 1.6 | 9.79 | 2.1 | 11.7 | 7 |
LS21-007 | 107.9 | 125.6 | 17.7 | 3.47 | 1.6 | 2.8 | 5.9 |
inc. | 112.2 | 116.3 | 4.1 | 6.40 | 5.3 | 1.5 | 16.8 |
inc. | 117.4 | 122.3 | 4.9 | 5.68 | 0.5 | 7.9 | 2.6 |
LS21-008 | 5.5 | 23.2 | 17.7 | 0.80 | 0.6 | 0.3 | NSR |
LS21-009 | 6.4 | 46 | 39.6 | 0.40 | 0.4 | NSR | NSR |
LS21-009 | 63.4 | 70.7 | 7.3 | 0.76 | 0.5 | 0.4 | NSR |
LS21-010 | 7.8 | 43.9 | 37.9 | 1.29 | 1 | 0.4 | 4.5 |
inc. | 21 | 33.2 | 12.2 | 2.78 | 2 | 1.1 | 8.8 |
LS21-010 | 59.2 | 80.5 | 21.3 | 0.62 | 0.6 | NSR | 3.3 |
LS21-010 | 127.1 | 138.4 | 11.3 | 0.42 | 0.4 | NSR | 3.2 |
LS21-011 | 108.8 | 111.9 | 3.1 | 3.32 | 2.6 | 1 | 8.6 |
LS21-011 | 119.5 | 127.7 | 8.2 | 1.99 | 1.3 | 1 | 4.7 |
LS21-012 | 50.3 | 50.9 | 0.6 | 3.37 | 2.4 | 1.4 | 8 |
LS21-013 | 87.8 | 96 | 8.2 | 0.53 | 0.4 | 0.2 | 0.5 |
LS21-014 | 3.1 | 10.4 | 7.3 | 0.55 | 0.4 | 0.2 | 2.5 |
LS21-015 | 16.5 | 71.6 | 55.2 | 1.26 | 0.9 | 0.5 | 4.5 |
LS21-016 | 12.8 | 162.2 | 149.4 | 0.84 | 0.7 | 0.2 | 1.3 |
inc. | 45.1 | 49.4 | 4.3 | 1.28 | 1.1 | 0.2 | 7.4 |
inc. | 108.8 | 113.4 | 4.6 | 4.03 | 3.1 | 1.3 | 11.7 |
inc. | 127.1 | 136.3 | 9.2 | 1.16 | 1 | 0.2 | 4.7 |
LS21-016 | 169.8 | 171.3 | 1.5 | 1.30 | 1.1 | 0.3 | NSR |
LS21-016 | 178.3 | 182.6 | 4.3 | 1.03 | 0.7 | 0.5 | NSR |
LS21-017 | 80.2 | 96.9 | 16.8 | 0.68 | 0.4 | 0.4 | 2.7 |
LS21-017 | 112.8 | 116.4 | 3.7 | 2.35 | 1.8 | 0.8 | 4.4 |
LS21-017 | 142.3 | 174.4 | 32 | 0.64 | 0.5 | 0.2 | 1.4 |
LS21-018 | NSR | ||||||
LS21-019 | NSR | ||||||
LS21-020 | 5.2 | 18.3 | 13.1 | 0.97 | 0.7 | 0.4 | 1.6 |
LS21-020 | 106.4 | 114 | 7.6 | 0.53 | 0.4 | 0.2 | NSR |
LS21-021 | 6.1 | 13.4 | 7.3 | 2.70 | 2.1 | 0.7 | 19.1 |
LS21-021 | 39 | 41.8 | 2.8 | 2.07 | 1.2 | 1.3 | 3.5 |
LS21-021 | 53.6 | 104.6 | 50.9 | 0.57 | 0.5 | 0.1 | 0.9 |
inc | 53.6 | 71.9 | 18.3 | 0.78 | 0.7 | 0.1 | 1.7 |
LS21-021 | 120.7 | 150.3 | 29.6 | 0.89 | 0.8 | 0.1 | 3.7 |
LS21-022 | 41.2 | 76.2 | 35.1 | 1.04 | 0.8 | 0.3 | 5.6 |
inc | 54.9 | 59.4 | 4.6 | 2.79 | 2.1 | 0.8 | 22.6 |
LS21-022 | 97.5 | 177.4 | 79.9 | 0.88 | 0.6 | 0.4 | 2.1 |
inc | 151.2 | 158.8 | 7.6 | 3.21 | 1.3 | 2.8 | 11.8 |
LS21-022 | 181.7 | 193.1 | 11.4 | 0.71 | 0.5 | 0.3 | 1.9 |
LS21-023 | 138.7 | 163.1 | 24.4 | 0.82 | 0.6 | 0.3 | 2.7 |
LS21-023 | 179.8 | 198.1 | 18.3 | 0.77 | 0.5 | 0.4 | 0.9 |
LS21-024 | 50.3 | 75.6 | 25.3 | 0.84 | 0.7 | 0.2 | 1.4 |
LS21-024 | 110 | 178 | 64.3 | 0.49 | 0.4 | 0.1 | 2.8 |
LS21-025 | 140.5 | 198.7 | 58.2 | 0.81 | 0.6 | 0.3 | 2.2 |
inc. | 174.4 | 181.1 | 5.2 | 2.21 | 1.6 | 0.9 | 2.4 |
LS21-026 | 82.6 | 84.7 | 2.1 | 0.84 | 0.7 | 0.2 | 1.3 |
LS21-026 | 116.1 | 121.9 | 5.8 | 0.58 | 0.5 | 0.1 | 2.2 |
LS21- 026 | 139.9 | 184.1 | 44.2 | 0.54 | 0.4 | 0.2 | 1 |
LS21-027 | 111.6 | 122.2 | 10.7 | 3.09 | 2.4 | 1 | 5.5 |
inc. | 117 | 122.2 | 5.2 | 5.41 | 4.1 | 1.9 | 9.5 |
LS21-027 | 151.8 | 200.6 | 48.8 | 0.64 | 0.5 | 0.2 | 0.9 |
LS21-027 | 215.8 | 237.1 | 21.3 | 0.86 | 0.4 | 0.7 | NSR |
inc. | 226 | 232.3 | 6.3 | 2.31 | 0.8 | 2.3 | 0.8 |
LS21-028 | NSR | ||||||
LS21-029 | 33.2 | 42.7 | 9.5 | 1.00 | 0.8 | 0.3 | 1.2 |
LS21-030 | 25.6 | 56.1 | 30.5 | 1.24 | 0.9 | 0.5 | 2.2 |
inc. | 40.5 | 53.6 | 13.1 | 1.98 | 1.5 | 0.7 | 2.7 |
LS21-031 | 32.9 | 40.5 | 7.6 | 1.07 | 0.6 | 0.7 | 2 |
LS21-031 | 51.5 | 55.2 | 3.7 | 1.04 | 0.9 | 0.2 | 1.1 |
LS21-031 | 57.3 | 63.4 | 6.1 | 1.60 | 1.4 | 0.3 | 1 |
LS21-031 | 157.6 | 181.4 | 23.8 | 0.97 | 0.7 | 0.4 | 1.2 |
inc. | 159.1 | 170.1 | 11 | 1.40 | 1 | 0.6 | 1.7 |
LS21-032 | 102.1 | 102.4 | 1.5 | 12.65 | 2.8 | 14.8 | 25 |
LS21-032 | 133.2 | 160 | 26.8 | 0.62 | 0.4 | 0.3 | 3.3 |
LS21-033 | NSR | ||||||
LS21-034 | 42.4 | 55.2 | 12.8 | 0.80 | 0.6 | 0.3 | NSR |
LS21-035 | NSR | ||||||
LS21-036 | 137.2 | 195.1 | 57.9 | 0.90 | 0.7 | 0.3 | 0.3 |
inc. | 179.8 | 195.1 | 15.2 | 2.17 | 1.7 | 0.7 | 1.7 |
LS21-037 | 192 | 214.9 | 22.9 | 0.27 | 0.2 | 0.1 | NSR |
LS21-037 | 223.1 | 243.5 | 18.9 | 2.23 | 1.7 | 0.8 | 1 |
inc. | 232.3 | 241.7 | 8.2 | 4.27 | 3.2 | 1.6 | 2.9 |
LS21-037 | 253.3 | 259.7 | 7.3 | 1.20 | 0.8 | 0.6 | 1 |
LS21-038 | 64.9 | 110.3 | 45.4 | 0.93 | 0.6 | 0.5 | 0.5 |
inc. | 94.8 | 102.6 | 7.8 | 2.17 | 1.3 | 1.3 | 3.2 |
LS21-039 | 134.1 | 217 | 70.7 | 0.98 | 0.7 | 0.4 | 2.8 |
inc. | 148.7 | 152.1 | 3.4 | 14.25 | 4.3 | 14.9 | 29.5 |
LS21-039 | 230.7 | 240.2 | 9.5 | 1.92 | 1.3 | 0.9 | 4.3 |
LS21-040 | Not Drilled | ||||||
LS21-041 | 55.2 | 60.4 | 5.2 | 0.93 | 0.7 | 0.3 | 4.9 |
LS21-041 | 132.9 | 139.9 | 7 | 0.77 | 0.5 | 0.4 | 1.7 |
LS21-041 | 179.5 | 187.2 | 7.6 | 1.60 | 1 | 0.9 | 1.3 |
LS21-042 | Not Drilled | ||||||
LS21-043 | 5.2 | 18 | 12.8 | 1.11 | 0.7 | 0.6 | 2.3 |
LS21-044 | NSR | ||||||
LS21-045 | NSR | ||||||
LS21-046 | 17.4 | 27.3 | 9.9 | 1.90 | 1.3 | 0.9 | 2 |
LS21-047 | 20.7 | 25.9 | 5.2 | 0.63 | 0.5 | 0.2 | NSR |
LS21-048 | NSR | ||||||
LS21-049 | 285.1 | 297.5 | 12.3 | 2.08 | 1.6 | 0.7 | 3.7 |
CuEq are calculated on the basis oflong-term metal prices: Au US$1800/oz, Cu US$4.00/lb, AgUS$18.00
CuEq (%) = (((%Cu) x 22.0462 x $4.0)+ ((g/t/Au) x .032 x $1800)+ (g/t/Ag x .032 x $18.0)) ÷ (22.0462 x$4.00))
Belmont-Marquee JV
Marquee Resources (ASX:MQR) is earning the right toacquire an 80% interest in the Lone Star property (NR Nov. 4, 2021 –Belmont Signs Option/JV Agreements With Marquee Resources On Lone StarProperty) by committing to the following:
-
$504,000 cash payments (received)
-
$2,550,000 Work Program (completed)
-
3,000,000 MQR Shares (received)
-
Produce a NI 43-101 Resource and
-
Produce a Preliminary Economic Assessment
-
Within a 24 month term.
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 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 and the Kibby Basin Lithium project located60 kilometers north of the lithium rich Clayton Valley Basin.
The Belmont project portfolio:
-
Athelstan-Jackpot , B.C. – * Gold-Silver mines
-
Kibby Basin, Nevada – Lithium
-
Come By Chance ,B.C. – * Copper-Gold mine
-
Lone Star ,Washington – * Copper-Gold mine
-
Pathfinder ,B.C. – * Gold–Silver mines
-
Crackingstone, Sask. – Uranium
* past producing mine
NI 43-101 Disclosure:
The technical information in thisnews release has been prepared in accordance with Canadian regulatoryrequirements as set out in National Instrument 43-101 and has beenreviewed and approved byLaurence Sookochoff, P.Eng. Mr. Sookochoff is a Director of BelmontResources Inc.
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 .
Copyright (c) 2022 TheNewswire - All rights reserved.