(TheNewswire)
Vancouver, B.C. Canada – TheNewswire - January 23, 2023; Belmont ResourcesInc . (“Belmont”), (or the “Company”),(TSXV:BEA ) ; ( FSE:L3L2) is pleased to announce plansfor a 2023 Rare Earths Elements (REE) exploration program on its 100%owned Crackingstone Uranium-Thorium property situated in northernSaskatchewan, 6 kilometers west of Uranium City.
George Sookochoff, CEO of Belmont Resources commented,“I am excited to be going back to our Crackingstone project aftersome 15 years and prepare for our Rare Earth Elements (REE’s)exploration program. It appears that in 2008 we may have alreadydrilled into REE’s but at that time we, nor the rest of the worldwere not interested in REE’s, only uranium. Today however, countriesare scrambling for REE’s and apparently, we cannot find enough tosustain our fast growing high tech world we live in today.
And today we only have to return to Uranium City, whichis only 7 kilometers from our Crackingstone property, where we stillhave over 3,000 meters of our 2008 drill core stored and re-assay thecore for rare earth elements such as lanthanum (La), cerium (Ce),praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm),europium (Eu), and gadolinium (Gd) to name only eight of a total of 17elements (metals). That will save the Company hundreds of thousands ofdollars in drilling costs alone.
So why do we think we have REE’s on theCrackingstone? Well REE’s are often associated with the rock“pegmatite” and the element “Thorium”. We already seepegmatite in 17 of the 20 drill holes from 2008 as well as pegmatiteoutcrops on the property. As well, there are large Thorium anomaliesshown in our 2006 radiometric survey over the Crackingstone property.So we are already off to a great start towards a potential “RareEarth Metals” discovery.”
Rare Earth Elements (REE)
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Rare Earth Elements (often referred to Rare EarthMinerals or Metals) have become essential to the future economy andsecurity. They make possible the high tech world we live in today –everything from the miniaturization of electronics, to the enabling ofgreen energy and medical technologies, to supporting a myriad ofessential telecommunications and defense systems. These materials,many of which were of little economic interest until recently, arerequired to fuel a proliferation of technologies and industries thathave become vital for social and economic well-being the worldover.
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The Rare Earth Metal supply chain has been a worry forU.S.-based high-tech companies and defense contractors for yearsmainly because China controls 80% of rare earths supply and 90% of thecomplex processing required to transform rareearths into the magnets and powders in which they ultimately endup.
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Canada has some of the largest known reserves andresources rare earths in the world, estimated at over 14 milliontonnes of rare earth oxides in 2021. As such the United States islooking north to Canada to become a major supplier of rare earthmetals to counter China’s dominant position.
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Rare earth minerals are processed primarily from oresand minerals that naturally contain uranium and thorium. Processingrare earth minerals involves the separation and removal of uranium andthorium.
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Rare earth minerals are most often associated withpegmatite which is the host rock for many rare mineraldeposits.
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Appia Rare Earths and Uranium Corp’s Alces lakeproperty, 34 kilometers east of Uranium City, has recently reportedsome of the highest REE grades in the world; average zone high-gradesrange from 4.2 to 32.2 weighted percent total rare earth oxide orbetter known as TREO.
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Appia’s rare earths exploration has focused onpegmatites within thorium anomalous areas.
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Belmont’s Crackingstone propertycontains in addition to Uranium, Thorium and Pegmatites.
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Belmont 2008 drilling intercepted 170 meterscollectively of pegmatite, associated with a Thorium radiometricsurvey anomaly, in 17 of the 20 holes drilled. Also there are largepegmatite outcrops on the property.
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Pegmatite occurrences on Crackingstone were notreported extensively or assayed in the past because of their lowerconcentration of uranium values which was the main focus ofexploration. Also as there was little global interest in rare earthsat the time, rare earth potential of these pegmatites were neverevaluated.
2023 Exploration Program
After an extensive review of previous exploration datafrom the Crackingstone Uranium/Thorium property along with learningfrom nearby REE discoveries and what important exploration vectorswere used to make these discoveries ie. pegmatites within thoriumanomalies, and the fact that the Crackingstone property has similarvectors for potential REE discoveries, Belmont resources is planning arare earths focused exploration program for 2023.
The program will consist of the following:
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Re-log 2008 drill core and re-assay for rare earthmetals intervals containing pegmatite.
Belmont has over 3,000 meters of 2008 drill core stored at nearbyUranium City. -
Sample known pegmatite outcrops on the property.
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Geological mapping of a large thorium radiometricanomaly in northwest area of the property.
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Delineate and sample new pegmatite showings inthe thorium anomaly for Rare Earth Metals.
Clickhere to view Crackingstone video
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 project in the uranium richBeaverlodge uranium 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 Kibby BasinLithium project located 60 kilometers north ofthe lithium rich Clayton Valley Basin.
The Belmont project portfolio:
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Come By Chance ,B.C. – * Copper-Gold mine
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Athelstan-Jackpot , B.C. – * Gold-Silver mines
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Crackingstone, Sask. – Uranium-Thorium
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Lone Star ,Washington – * Copper-Gold mine
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Kibby Basin, Nevada – Lithium
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Pathfinder ,B.C. – * Gold–Silver mines
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Pride of the West , B.C.- Gold
* 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.
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 .
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