(TheNewswire)
Prime potentiallode-gold deposit target
Vancouver, B.C. Canada – TheNewswire - April 12, 2021; BelmontResources Ltd. (“Belmont”), (or the “Company”),(TSXV:BEA ) ; ( FSE: L3L2) is pleased to announceplans for a 2,500 meter drill program at its 100% ownedAlthelstan-Jackpot (A-J) gold project in southern British Columbia.
Drilling will target of a multi coincident geophysicalanomaly overlain by diorite (intrusive?) and listwanite situated inthe North Zone of the property.
The Jackpot fault directly intersects this anomalouszone providing a conduit for the hydrothermal fluids and subsequentprecipitation of gold mineralization.
AJ Magnetic Low, ChargeabilityHigh, Resistivity High coincident anomaly intersected by Jackpotfault
AJ Magnetic and IP VerticalSections and Proposed Drilling
A-J North Zone
Listwanite and GoldMineralization
Listwanite (carbonated serpentinite) is a term to describe the silica-carbonate alteration ofserpentinite and is commonly associated withhigh-grade lode-gold mineralization.
The Mother Lode gold district in California and theAbitibi greenstone belt of the Superior Province of Canada are two ofthe most well-known examples of listwanite-associated lode-gold inNorth America. In general, the richest gold grades within thesedeposits are associated with, or in close proximity tocarbonate-altered ultramafic rocks (Listwanite). Listwanite is alsodirectly associated with several multi-million ounce gold deposits inBritish Columbia; Atlin, Bralorne and Barkerville.
Listwanite and Serpentinite
During the serpentinization process any gold present inthe serpentine may be assimilated with secondary sulfides and/ormagnetite and could be indicative by the magnetic anomalies within theproperty."
These opaque minerals (magnetite) are subsequentlydestroyed in talc-carbonate alteration zones (magnetic low features),which results in gold being released from the serpentinite wall rocksand transported in solution. The gold and silica-rich fluids aretransported to higher crustal levels via faults where the change inconditions (lower temperature, pH and ƒO2) results in theprecipitation of gold, quartz and sulfides. Allof the historic production from the property, and the vast majority ofthe previous exploration, has been directed at massive sulfide andoxidized sulfide zones within listwanite.
Structurally Controlled and DioriteHosted Mineralization
The geologic favorability for a gold resource in theNorth Zone area is not only related to listwanite mineralizationpotentially gleaned from the serpentine but also from potentialconcealed intrusives which are indicated by magnetic lows in thecenter and north areas of the property and associated with the Jackpotfault.
Areas mapped as “old diorite” may be dioriteintrusions which has undergone a higher degree of hydrothermalalteration (mag low) than the adjacent serpentine (mag high). Theseintrusions are also coincident with geophysical and magnetic anomaliesmaking for high priority drill targets.
A 1983 report by J.S. Kermeen,M.Sc, P.Eng stated “The most prevalent rock, at least on surface, onthe property is a serpentinite believed to be derived from anultramafic igneous rock (sill, flow or pyroclastic?)”
“The next most prevalent rock on the property is arock given a field classification of diorite which appear to beintrusive with dikes of diorite composition cutting theserpentinite.” 1 .
A second apparent diorite intrusion is in the northernportion of the property. This diorite is also coincident with a strongmagnetic low suggesting hydrothermal activity. This area will befurther investigated for gold mineralization.
A-J South Zone
Surface and Near Surface BulkTonnage Gold Prospect
The A-J South Zone is a 1.0km mineralized gold trendwhich includes the Athelstan and Jackpot past producing gold mineswhich produced 7,600 ozs Au & 9,000 oz Ag (Minfile 082ESE047).
Along with the two former gold mines this trendincludes numerous trenches, pits and adits as well as mine wastedumps. Sampling in this area has returned extensive high gold andsilver results. In particular sampling of the mine dumps have returnedgrades as high as 1oz/ton gold and over 5 oz/ton silver.
A 2002 Report by R.E. Miller, B.Eng., P.Geo states “Apotential resource of 2,000 ? 5,000 ounces of gold in the surface and near surfacemineralized areas appears to exist within the A ? J Group based on previous trenchingresults and sampling of mine dumps. The identification of one to twoareas of ore have been identified having dimensions of 2.0 metresthick, 15 metres in width and 90 metres in length with an averagegrade of 0.3 opt gold.” 2
Belmont is planning to process the surface and nearsurface gold material from the South Zone utilizing new and costeffective methods of recovery of gold. Belmont sees this as anexcellent opportunity to generate cash flow to finance furtherexploration on its projects while minimizing share dilution.
Sample gold material will be delivered to EnviroMetalTechnoligies in Burnaby, British Columbia for testing.
EnviroMetal’s unique formula offers a cost-effectiveand eco-friendly alternative to the traditional use of cyanide andsmelting and is produced by combining safe FDA-approved ingredientswith water.
The leach process is quite simple and typically takesonly 2 to 24 hours and typically achieves over 96% recoveries. Gold isrecovered from the pregnant solution using conventional electrowinningprocesses. All reagents and rinse waters are reused providing anear-zero environmental footprint.
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A Report On The Athelstan-Jackpot Mineral Property OfRimacan Resources Ltd
By J.S. Kermeen, M.Sc, P.Eng., June 3, 1983
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2002 Summary Report on the A-J Group, Greenwood MiningDivision by R.E. Miller B.Eng. Sci., P.Geo February 2002
George Sookochoff, President &CEO commented, “I am excited to be returningto our A-J gold project.
Our 2021 and first drill program focused on an areaaround the Athelstan gold mine, one of two past producing gold minesin the southern portion of the property. This was a natural choice asthe old adage says “Where’s the best location to look for gold?Near a gold mine!”
Although the A-J North Zone is in an area of listwaniteand serpentinite similar to the two AJ mines to the south, there areseveral additional important exploration vectors such as the“diorite” factor, which makes this area very compelling to drillfor a potential gold resource.
As for the A-J South Zone I am looking forward to theopportunity of generating cash flow in the relatively short term byprocessing easily accessible gold material using new and costeffective environmentally friendly technologies.
Our original plans were to drill our Come By Chance(CBC) copper-gold property just 500 metres east of the AJ goldproject, however with the current global political and banking turmoiland gold prices appearing to remain strong, we felt the time was rightto drill for gold as well as extract and process surface goldmaterial. That’s the advantage of Belmont’s portfolio of excellentmineral projects and being able to adapt quickly to changing globaland market conditions.
We are planning to complete our previouslyannounced financing by month end at which time the ground conditionsat A-J will be ideal for drilling.”
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:
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The Come ByChance (CBC), Athelstan-Jackpot (AJ) and Pathfinder situated in the prolific Greenwood mining camp in southernBritish Columbia.
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The Crackingstone uranium/REE project in the uranium/REEBeaverlodge district of northern Saskatchewan.
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The LoneStar copper-gold mine in the mineral rich Republic mining camp of northcentral Washington State.
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The KibbyBasin lithium project located 60 kilometersnorth of the lithium rich Clayton Valley Basin.
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: 604-683-6648
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 contained herein.
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