(TheNewswire)
Highlights:
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Drill Holes AJ23-07 8 Intercepts 100meter mineralized Zone beneath Athelstan Gold Mine
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100 meter mineralized zone suggestspotential for several feedersystems to 1km mineralized gold zone at surface.
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2,000 meter fall drill programon AJ gold property now complete.
October 31, 2023 – TheNewswire - Vancouver, B.C., Canada;Belmont Resources Ltd. (“Belmont” or the “Company”)(TSXV:BEA ) ( FSE:L3L2) is pleased to announce that it has completed ninediamond drill holes in a 2,000-metre diamond drilling program at its100% owned A-J gold project situated in the prolific Greenwood miningcamp of southern British Columbia. Drilling tested IP anomaliesdefined by the 2020 IP geophysical survey as well as targets definedby surface mineralization and historical workings. Results of thedrill program will be announced as soon as all assays have beenreceived, compiled and verified.
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 1oz/ton gold and over 5 oz/ton silver. 1.
Click Image To View Full Size A 2002 Reportby R.E. Miller B.Eng., P.Geo states “A potential resource of2,000?5,000 ounces of gold in the surface and near surfacemineralized areas appears to exist within the A?J Group based onprevious 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
This zone coincides with 2020 IP survey signatures ofsubsurface chargeability and resistivity highs, in addition tooverlapping magnetic lows. All interpreted to potentially relate tothe presence of sulphide mineralization, as well as silica,silica-carbonate and phyllic alteration zones.
Shallow listwanite units (oxidized to unweathered) wereconsistently intersected but unexpectedly, very wide intensealteration zones with moderate sulphide mineralization were alsointersected at depths previously untested with historic explorationdrilling or mining.
Silica, silica-carbonate and phyllic alteration wasintersected over 100 metre durations in 7th and 8th diamond drillholes directly beneath the Athlestan mine. This discovery ofmulti-metre quartz shear and stockwork style vein intersections withall lithologies hosting widespread pyrrhotite and pyrite and lesserchalco and arsenopyrites may potentially be a conduit and fracturespaces for deep seated mineralizing hydrothermal fluids.
North Zone:
North Zone drilling involved exploring largelyuntested, open ground in the northern portion of the property wheretargets were chosen between the Golden Crown and Athestan-Jackpotmines. Specifically, geophysical anomalies that coincide along theknown regional gold belt trend, led to drilling that consistentlyintersected listwanite alteration zones at shallow and moderatedepths. Although these units hosted finer, more disseminated sulphidemineralization, pending assay results will determine if they areauriferous or bearing other precious or base metals.
George Sookochoff, CEO of Belmont Resources, said,"We are extremely pleased with the initial results of the falldrill program. We have potentially identified the structures which maybe supplying the gold to the 1 km gold zone andtwo former gold mines on surface. We are confident that assay resultswill support our visual observations of the core from the firstapparent feeder zone beneath the Athelstan Gold mine. We will followup in Q1 2024 with drilling three additional potential feeder systemsidentified by geophysics and surface mineralization.”
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.
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. 2,000m drilling targeting multi-coincidentgeophysical anomaly on strike with neighboring gold trend and goldmines.
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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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