(TheNewswire)
Crackingstone Highlights
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Property cover 5kms of Black Bay Shear Zone which hostsseveral past producing uranium mines
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Historic grab samples at uranium showings (%U3O8); Beck93-12.53%; Beck 102-5.2% Beck 91 -2.86%
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Belmont 2008 Drilling DH-C14 intercepted 2.09% U3O8over 0.3 m and 0.87% U3O8 over 0.5 m within 1.18% U3O8 over 0.9 m from49.1 to 50.0 m.
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Ground Spectrometer surveying outlined a radioactivezone 1km long and 300m wide with CPS readings ranging from 400-65,000cps.
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No less than 3 major conductive structural corridorsassociated with Uranium occurrences identified totaling 10 kms, with 2areas of fault intersections being prime locations for uraniummineralization
March 27, 2024 -Vancouver, B.C., Canada; BelmontResources Ltd. (“Belmont” or the “Company”) (TSX.V: BEA; FSE:L3L2) is pleased to announce plans for a 2024 exploration and drillingprogram on its Crackingstone Uranium project situated in theBeaverlodge uranium district on the north shore of Lake Athabasca.This is the first time that Belmont is returning to the uraniumproject since its last successful 3,000 meter drill program in 2008.The project was put on hold after the drill program due to the 2008market crash and a major drop in uranium prices.
George Sookochoff, President & CEO, BelmontResources commented “We have been waiting for the right time tobring our Crackingstone Uranium project back on stream, and withuranium prices at an all-time high, now is certainly the right time toshowcase Belmont’s great uranium project!”
We have produced a very informative video which does agreat job in telling the Crackingstone visual story. We invite you towatch it at https://belmontresources.com/crackingstone-video/ ”
Beaverlodge Uranium District, NorthShore of Lake Athabasca Saskatchewan.
The 100% owned Crackingstone property is located in theBeaverlodge uranium district, on the north shore of Lake Athabasca andonly 6 km by road from Uranium City, Saskatchewan. A power linecrosses the southern portion of the property.
Historic work in the Uranium City area dates back tothe 1950’s. From 1953 to 1982, sixteen deposits were brought intoproduction which produced a total of 70,250,000 lbs U3O8 averaging0.24 % U3O8. The grades ranged from 0.18% to 0.43%.
The Crackingstone property covers 5 kms of the BlackBay Shear Zone, a major structural feature in the region which hostsseveral past producing mines such as the past producing Leonard andSmitty uranium mines combined to produce 876,000 lbs of uranium oxideand to the northeast the Cayzor uranium mine produced approximately1,372,800 lbs with unexplored depth potential.
Crackingstone HistoricExploration
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In 1958 Mr. E. Kull, drove a short adit which is nowreferred to as the Number 7 Adit, from the base of a trench,previously returned 15.6% U3O8 over 0.43m. He shipped 11 tons ofbroken rock to the Lorado mill which graded 2.3% U3O8.
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In 1959 Uranium stain was visible at a few places nearthe Beck 91 showing. A channel sample assayed 0.61m at 0.95% U3O8 anda bulk sample from the same locality assayed 3.86% U3O8.
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A grab sample containing considerable yellow stain,possibly fine disseminated pitchblende, from the Beck 93 showing,assayed 12.53% U3O8.
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At the Beck 231 showing Channel sampling assayed 1.32%U3O8 over 0.64m, 2.13% over 0.70m and 1.46% over 0.49m.
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At the Beck 102 showing a grab sample assayed 5.2%U3O8.
Structural Faults
On the property and on strike with the Black Baystructural corridor are the northeasterly Chance Lake and Boom LakeFaults. These two faults are on trend with the Leonard, Smitty andCayzor past producing uranium mines, 6 kilometers north east of theproperty.
These faults appear to have been reactivated severaltimes to provide ample fractured ground for hosting the uraniummineralization. The easterly Crackingstone fault intersects the twonortheasterly faults on the property. The Cinch Lake uranium mine issituated on the Crackingstone fault 6 kilometers east of theproperty
The two areas of fault intersections are primelocations for potential uranium mineralization. The intersection area of the Boom Lake and Crackingstonefaults tested successfully in a 20 hole drilling program in2008.
A 2007 EM survey by Belmont has delineated threeprimary conductive corridors on the property. The Chance Lake and BoomLake EM corridors are coincident with the Chance Lake and Boom Lakenorth easterly faults. The Nero Lake conductive corridor is a broadcorridor trending north easterly in the south east area of theproperty. All three corridors are associated with Uraniumoccurrences.
Radiometric Survey
A 2007 Airborne Radiometric survey identified two largeUranium anomalies. The north anomaly is on a north easterly trend andappears to be associated with the northern portions of the Chance Lakeand Boom Lake EM conductive corridors.
The south east Uranium anomaly trends north easterly aswell, and appears to be associated with the Nero Lake conductivecorridor.
The Uranium radiometric data was filtered to produce a“ Uranium First VerticalDerivative (U1VD )” map. The U1VD algorithmenhances the shallow sources of uranium by suppressing the effect ofthe deeper ones. This helps to reveal near-surface uraniummineralization on the property. Most all of the uranium occurrences onthe property are coincident with a U1VD anomaly which adds confidenceto use of U1VD mapping as a powerful resource in combination with thestructural faults and EM conductive corridors for the selection offuture drill targets.
GroundSpectrometer Radioactivity Survey
A ground radioactivity survey using a RS-125Spectrometer, over the central area of the property was conducted in2007. Readings were taken in areas of rock outcroppings and also atvarious uranium occurrences. Several high radioactive readings wererecorded in this area with readings reaching >65,000 CPS which isconsidered to be “off-scale”.
A radioactive zone 1km long and 300m wide, with CPSreadings ranging from 400-65,000 CPS was identified on the northeasterly trending Boom Lake conductive structural corridor.
2008 Drilling
In March of 2008 Belmont carried out a 20 hole, 3,000meter diamond drilling program covering an 1,800 meter strike lengthfrom the Boom Lake – Crackingstone intersection north along the Boomlake fault.
All of the drill core was mineralized withuranium.
Some highlights are as follows:
Hole C14:
2.087% U3O8 over 0.3 m and 0.873% U3O8 over 0.5 m
within 1.182% U3O8 over 0.9 m from 49.1 to 50.0m
Hole C8:
0.362% U3O8 over 0.15 m from 114.4 to 114.55metres
within 0.277% U3O8 over 0.25 m from 114.4 to 114.65m
0.371% U3O8 over 0.5 m starting from 116.2 to 116.7 m;
0.146% U3O8 over 0.35 metres from 123.35 to 123.7m
Hole C10:
0.256% U3O8 over 0.4 m from 108.5 to 108.9 m
In addition to the uranium mineralization, drillingintercepted a 1.8 kilometer pegmatite dyke. Pegmatite is oftenassociated with uranium mineralization in the Athabasca basin. Ofequal importance was the extensive amount of hematite alterationintercepted across the entire 1.8 kilometer zone. Hematite alterationis commonly associated with uranium in the Athabasca basin. Hematitealteration is an indication of uranium precipitation during thehydrothermal event.
The results of the 2008 drilling were very positivewith the interception of uranium mineralization, pegmatites andhematite alteration along the Boom Lake and Crackingstone structuralfault zones confirming the methodology of exploring the intersection point of the structural featuresand the discovery of new zones of mineralization not previouslyknown.
2024 Exploration
In preparation for a 2024 exploration program Belmonthas compiled and modeled over 70 years of exploration survey data fromthe Crackingstone area. The newly compiled exploration database, withall available historical data, shows 21 areas with key characteristicsfor potential uranium mineralization. Of those 21 areas, 8 have beenselected as high priority targets having all or most of the followingcriteria:
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on or near a major fault,
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on or near an EM conductor
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on or near a U1VD anomaly,
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surface uranium occurrence.
Phase 1 of the 2024 exploration program which isexpected in Q2 of 2024, will involve ground verification of the highpriority targets and prioritizing selected drill targets for a Q4drill program.
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. Initial 2023 drill results fromAthelstan gold mine area drilling indicates peripheral alteration zoneto a potential deep-seated gold-copper porphyry.
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Crackingstone Uranium: High gradeuranium property situated in the prolific Beaverlodge Uranium Districtof the Athabasca basin. The Project covers 4 kilometers of the BlackBay Shear Zone, a northeast trending magnetic low corridor which hosts4 past producing mines.
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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 $2.5M in drilling, completed new resource in Dec. 2022 and aPEA in November 2023 earning them a 50% interest in the property.
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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 $2.5M in drilling in 2022 for potential deep seated lithiumbrine. 2022 Drilling confirmed high levels of lithium-bearingsediments along with dissolved lithium in the groundwater. Mineralizedintervals containing up to 924 ppm lithium with greater than 300 ppmlithium over thicknesses in excess of 450m have been identified incore samples of clay-rich playa sediments.
NI 43-101 Disclosure:
The technical and scientific information in this newsrelease has been reviewed and approved by Laurence Sookochoff, P.Eng.Technical Advisor of the Company, who is a Qualified Person as definedby NI 43-101
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.
Details on the sources of informationcontained within this News Release:
Report No. 126; Uranium Deposits of the AthabascaRegion, Saskatchewan by L.S. Beck 1969, DEPARTMENT OF MINERALRESOURCES, Geological Sciences Branch, Precambrian GeologyDivision.
A May 2008 Report On A Reconnaissance Sampling Program& Radon Gas Survey On the Crackingstone Property by J. Morgan, PhDGeologist & R.A. Bernatchez, B. Sc, P.Eng. ConsultingGeologist.
A June 2009 Report On the Crackingstone Property 2008Spring-Summer Diamond Drilling Program for Belmont Resources by J.Morgan, PhD Geologist & R.A. Bernatchez, B. Sc, P.Eng. ConsultingGeologist.
An Interpretation of Aeroquest’s Airborne GeophysicalSurvey Magnetic and Electromagnetic Survey Job # 08-057 for BelmontResources Magnetic and Electromagnetic Survey, April 16, 2009 by R.A.Bernatchez, P. Eng. Consulting Geologist.
Saskatchewan Mineral Deposit Index (SMDI) - digitalinformation on all known mineral occurrences in the Province ofSaskatchewan.
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