(TheNewswire)
Highlights:
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AJ23-06 and AJ23-09 intercept asecond mineralized zone of over 100 meters of extensive silicic andphyllic alteration accompanied by widespread sulphide mineralization.
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Mineralization now intersected over100 metre durations in all four diamond drill holes directly beneathand nearby the Athelstan mine.
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Several targets remain to be testedin Q1 2024 planned drill program.
November 16, 2023 – TheNewswire- Vancouver, B.C., Canada; Belmont ResourcesLtd. (“Belmont” or the “Company”) (TSXV:BEA ) ( FSE:L3L2) ispleased to announce that drill core logging has been completed on twoadditional drill holes AJ23-06 and AJ23-09 with visual analysisshowing that a second mineralized zone of over 100 meters of extensivesilicic and phyllic alteration accompanied by widespread sulphidemineralization was intersected.
Drill holes AJ23-06 and AJ23-09 targeted a strongcoincident geophysical anomaly beneath surface gold mineralization atthe ‘A’ Zone located 100 meters south east of drill holes AJ23-07 and AJ23-08 whereboth holes intercepted a 100 meter mineralized zone directly beneaththe Athelstan gold mine. ( Read NR Oct. 31, 2023 )
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.
Shallow listwanite units (oxidized to unweathered) wereconsistently intersected along with very wide intense alteration zoneswith moderate sulphide mineralization at depths previously untestedwith historic exploration drilling or mining.
The recently completed 9 hole, 2,000m drill programtested several coincident geophysical-geological anomalies on the A-Jproperty. Drill holes AJ23-01 to 05 were drilled in the North Zonewith drill holes AJ23-06 to 09 drilled in the South Zone.
South Zone: Potential near-surface resource withhigh-grade feeder system
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 and Jackpotpast producing gold mines which produced 7,600 ozs Au & 9,000 ozAg (Minfile 082ESE047)
Along with the two former gold mines this trendincludes numerous trenches, pits and adit as well as mine waste dumps.Sampling in this area has returned extensive high gold and silverresults. In particular sampling of the mine dumps have returned gradesas high as 1 oz/ton gold and over 5 oz/ton silver. 1.
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 andnear surface mineralized areas appears to exist within the A?J Groupbased on previous trenching results and sampling of mine dumps. Theidentification of one to two areas of ore have been identified havingdimensions of 2.0 metres thick, 15 metres in width and 90 metres inlength with an average grade of 0.3 opt gold.” 2
Gold mineralization in this zone is coincident with2020 IP survey signatures of subsurface chargeability and resistivityhighs, in addition to overlapping magnetic lows. All interpreted topotentially relate to the presence of sulphide mineralization, as wellas silica, silica-carbonate and phyllic alteration zones.
Core logging of all four drill holes from the SouthZone has now been completed with drill samples being sent to MSA Labsin Langley B.C. Logging of North Zone drill holes AJ23-01 to 05continues and is expected to be completed in the next week.
George Sookochoff, CEO of Belmont Resources, said,"I am certainly pleased with the visuals of the drill core thusfar and in particular the lengths of the mineralization situated bothunder and nearby the Athelstan gold mine. We were targeting andbelieve to have located one or more feeder systems to the extensivegold mineralization at surface. If assay results indeed support thevisuals then we will have several more good targets to test in Q12024, in particular underneath the Jackpot 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 goldpresent in the serpentine may be assimilated with secondary sulfidesand/or magnetite and could be indicative by the magnetic anomalieswithin the property.
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.
1. Arrowhead Resources Surface DumpSampling Report, Grant 1981.
2. 2002Summary Report on the A-J Group, Greenwood Mining Division by R.E.Miller B.Eng. Sci., P.Geo February 2002
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. 9 hole - 2,000m drilling targeting multi-coincident geophysical anomaly 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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