(TheNewswire)
June 18, 2024 – TheNewswire - Vancouver, B.C., Canada; Belmont Resources Inc . (“Belmont” or the“Company”) (TSX.V: BEA; FSE: L3L2) ) is pleased to announce acomprehensive 40 drill holes, totaling up to 10,000 metres over thenext 2 years drill permit for its 100% ownedCrackingstone Uranium Property (the “Property”) situated in theUranium City district of North Saskatchewan, has been submitted to theFish, Wildlife and Lands Branch, Saskatchewan Ministry of Environment(the “Ministry”).
Consultation with First nations have now beeninitiated. The Company anticipates a first review of the drill permitapplication by the Ministry to be completed in July of this year withthe potential of a granted permit in time for a fall drillingprogram.
View video at: https://belmontresources.com/crackingstone-video/
Drill Target Details
At this stage, multiple drill holes collars have beenplanned along a structurally controlled fault, EM conductivemineralized corridor with surface samples ranging up to 15.6% U3O8. View map .
2024 Drill Targetsover Uranium Radiometric Survey
Drill Target selectionparameters.
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Strong Radiometric uranium anomaly
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Over 1% U3O8 occurrence at surface
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Association with fault
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Association with EM conductor
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High Scintillometer radioactivity (CPS)readings
George Sookochoff, President & CEO, BelmontResources commented “I am very eager to commence drilling on ourCrackingstone uranium project. I firmly believe that we have some ofthe most promising drill targets in the entire Athabascaregion.”
2008 Drilling
A 20 hole, 3,000 meter diamond drilling programcovering a 1,800 meter strike length was carried out in 2008. Thedrilling tested an EM conductor from the Boom Lake – Crackingstoneintersection north along the Boom lake fault. All of the drill holesintercepted uranium mineralization along with pegmatite and hematitealteration.
Pegmatite is often associated with uraniummineralization in the Athabasca basin. Of equal importance was theextensive amount of hematite alteration intercepted across the entire1.8 kilometer zone. Hematite alteration is commonly associated withuranium in the Athabasca basin. Hematite alteration is an indicationof uranium precipitation during the hydrothermal event.
Drill Hole C14:
2.087% U3O8 over 0.3 m and 0.873% U3O8 over 0.5 mwithin 1.182% U3O8 over 0.9 m from 49.1 to 50.0 m
A planned follow up drill program was cancelled due tothe 2008 financial market collapse.
Uranium City - Beaverlodge UraniumDistrict, North Shore of Lake Athabasca Saskatchewan.
The 100% owned Crackingstone property is located in theBeaverlodge uranium district, on the north shore of Lake Athabasca( view map ) andonly 6 km by road from Uranium City, Saskatchewan. A power linecrosses the southern portion of the property.
Beaverlodge Mining District situated on the north shore of LakeAthabasca
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%.
Uranium city areapast producing uranium mines
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.
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.
Belmont Projects
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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