(TheNewswire)
November 30, 2023 – TheNewswire- Vancouver, B.C., Canada; Belmont ResourcesLtd. (“Belmont” or the “Company”) (TSXV:BEA ) ( FSE:L3L2) ispleased to announce final drill logging results and interpretationfrom North Zone of the A-J gold property.
The 100% owned A-J gold project situated in theprolific Greenwood mining camp of southern British Columbia. Therecently completed 9 hole, 2,000m drill program tested IP anomaliesdefined by the 2020 IP geophysical survey and coincident with targetsdefined by surface mineralization and historical workings. Results ofthe drill program will be announced as soon as all assays have beenreceived, compiled and verified.
North Zone:
North Zone drilling consisted of drill holes AJ23 01-05 for 1,150 meters and involved exploring largely untested,open ground in the northern portion of the property where targets werechosen between the Golden Crown mine situated on the adjacent GoldenCrown property and the Athelstan-Jackpot mines.
The North Zone drilling review found anear-consistent abundance of alteration within several ages and typesof bedrock. With moderate correlation to geophysical anomalies tested,the area did exhibit widespread low-grade pyrite mineralization, smallconcentrations of massive sulphides, and several shallow to moderatelistwanite zones. Results are pending but this is all characteristicof the known economic deposits in the area and lend to ongoingexploration in the untested portions of the property.
South Zone:
Potential near-surface resource withhigh-grade feeder system
Logging results and interpretation of the drilling inthe South Zone were previously reported in News Releases datedNovember 14 and 16, 2023.
South Zone drilling tested for a potential feedercontact/structure for the near-surface gold mineralization within a1.0 km mineralized gold trend, which includes the Athelstan andJackpot past producing gold mines which produced 7,600 ozs Au &9,000 oz Ag (Minfile 082ESE047).
Silica, silica-carbonate and phyllic alterationintersected over 100 metre durations in all four diamond drill holesin the South Zone directly beneath and nearby the Athelstan mine.These mineralized zones appear to be correlative between drill holesand could represent a 100 metre step out, along the strike of theAthelstan gold zone trend. The discovery of multi-metre quartz shearand stockwork style vein intersections with all lithologies hostingwidespread pyrrhotite and pyrite and lesser chalco and arsenopyritemay potentially be one or more conduits and fracture spaces for deepseated mineralizing hydrothermal fluids and related to the auriferousdeposits found in the historic gold mining above.
George Sookochoff, CEO of Belmont Resources, said,"All the logging is now complete and we continue to be impressedwith the visuals from both North and South zones. As good as the corevisuals are the truth lies in the assay results which we expect tostart receiving in the next two to three weeks. In the meantime we aremaking plans for our Q1 2024 A-J drill program which will test somevery strong targets beneath the Jackpot gold mine.”
Listwanite and Serpentinite
Listwanite (carbonated serpentinite) is a term to describe the silica-carbonatealteration of serpentinite and is commonly associated with high-gradelode-gold mineralization.
All of the historic production from the property, andthe vast majority of the previous exploration, all of which were inthe South Zone, has been directed at massive sulfide and oxidizedsulfide zones within listwanite.
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.
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.
About Belmont Resources
Belmont Resources has assembled a portfolio of highlyprospective copper, gold, lithium, uranium and rare earths projectslocated in British Columbia, Saskatchewan, Washington and NevadaStates. Its holdings include:
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Athelstan-Jackpot (A-J): 2 former gold mines. 2,000m drilling targeting multi-coincidentgeophysical anomaly on strike with neighboring gold trend and goldmines completed.
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Crackingstone Uranium-Rare Earths: Some of the highest grade Rare Earth Elements (REE’s) are beingdiscovered in Northern Saskatchewan due to the presence of Uranium,Thorium Pegmatites. Crackingstone project meets the criteria forpotentially discovering a large REE’s deposit with its high gradeuranium along with thorium and pegmatite. A review of 3,000m of 2008drill data shows a 1.3km pegmatite dyke drilled but only assayed foruranium at that time. 2023plans are to re-assay pegmatite sections for REE’s ;
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Come By Chance (CBC): 2021 geophysics delineated potential large copper-goldporphyry
2022 drilling provided further vectors towardspotential core of porphyry;
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The LoneStar Copper-Gold: optioned to Australian Marquee Resources ASX:MQR. MQR hasspent in excess of $2.5M in drilling, completed new resource in Dec.2022, and is currentlypreparing a Preliminary Economic Assessment inorder to earn 80% interest.
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The Kibby BasinLithium project located 60 kilometers north ofthe lithium rich Clayton Valley Basin: Optioned 80% of the centralKibby Playa claim block to Australian Marquee Resources - MQR. MQR hasspent in excess of $2.5M in drilling in 2022 for potential deep seatedlithium brine. 2022 Drilling confirmed high levels of lithium-bearingsediments along with dissolved lithium in the groundwater.
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
Neither the TSX Venture Exchange nor its RegulationServices Provider (as the term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this news release.
This Press Release may contain forward-lookingstatements that may involve a number of risks and uncertainties, basedon assumptions and judgments of management regarding future events orresults that may prove to be inaccurate as a result of exploration andother risk factors beyond its control. Actual events or resultscould differ materially from the Companies forward-looking statementsand expectations. These risks and uncertainties include, among otherthings, that we may not be able to obtain regulatory approval; that wemay not be able to raise funds required, that conditions to closingmay not be fulfilled and we may not be able to organize and carry outan exploration program in 2023, and other risks associated with beinga mineral exploration and development company. These forward-lookingstatements are made as of the date of this news release and, except asrequired by applicable laws, the Company assumes no obligation toupdate these forward-looking statements, or to update the reasons whyactual results differed from those projected in the forward-lookingstatements.
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