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Belmont JV Partner Marquee Provides Exploration Update for Lone Star Copper-Gold Project

  

Final assay results received from Phase 1 drilling program, which consisted of 46 diamond drill holes for 7,888 metres. 

Significant zones…

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  • Final assay results received from Phase 1 drilling program, which consisted of 46 diamond drill holes for 7,888 metres. 

  • Significant zones of copper and gold mineralisation include:  

width

(m)

%

CuEq

%

Cu

g/t

Au

g/t

Ag

from

(m)

 

width

(m)

%

CuEq

%

Cu

g/t

Au

g/t

Ag

drill hole

57.9

0.90

0.7

0.3

 

137.2

incl.

15.2

2.17

1.7

0.7

1.7

(LS21-036)

18.9

2.22

1.7

0.8

 

223.1

incl.

8.2

4.27

3.2

1.6

2.9

 (LS21-037)

45.4

0.93

0.6

0.5

 

64.9

incl.

7.8

2.17

1.3

1.3

3.2

 (LS21-038)

12.3

2.08

1.6

0.7

3.7

285.1

           

 (LS21-049)

  • The Company is advancing resources modelling studies to produce a maiden JORC/43-101 2022 resource estimate at the Lone Star deposit.  

  • The modelling studies will continue focussing on identifying economic global resources with a core (up to 15m) of high-grade copper (up to 18.5% Cu), gold (up to 10.4g/t Au) and silver (up to 106 g/t Ag) contained within a wide zone (50m) of mineralisation. 

  • Multiple high-grade zones of mineralisation intersected during the campaign to date include: 

width

(m)

%

CuEq

%

Cu

g/t

 Au

from

(m)

 

width

 (m)

%

CuEq

%

Cu

g/t

Au

g/t

Ag

drill hole

44.2

1.30

1.3

 

65.8

incl.

19.8

2.40

2.4

   

(LS21-001)

22.1

1.15

1.15

 

8.5

incl.

8.5

2.10

2.1

   

(LS21-001)

15.54

4.88

3.7

1.8

48.3

incl.

2.6

25.29

18.5

10.4

 

(LS21-002)

149.4

0.70

0.7

 

4.6

incl.

4.6

4.03

3.1

1.3

11.7

(LS21-016)

79.9

0.60

0.6

 

7.6

incl.

7.6

3.21

1.3

2.8

11.8

(LS21-022)

70.7

0.70

0.7

 

134.1

incl.

3.4

14.25

4.3

14.9

29.5

(LS21-039)

 

Vancouver, B.C. Canada – TheNewswire – August 17, 2022; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSXV:BEA); (FSE:L3L2) is pleased to announce that Belmont’s JV partner Marquee Resources (ASX: MQR) (“Marquee”) announced the final assay results from the Lone Star Copper-Gold Project, Washington State, USA (Lone Star or the Project). Results from the final batch of assays continue to intersect a wide mineralised envelope (up to 150m @ >0.5% Cu) with high-grade mineralised zones (up to 19.8m @ >2% Cu) within the core of the system. The Company’s focus now turns to completion of a maiden, JORC/NI 43-101 compliant resource estimate.

 

President & CEO Comment:

George Sookochoff, President & CEO commented, “With receipt of the final assay results we have completed another milestone in the continuing development of the Lone Star deposit. The drilling has revealed high grade copper and significant amounts of accessory gold and silver which should potentially make a robust contribution to an upcoming NI 43-101 compliant resource estimate.”

 

About the Lone Star

The Lone Star deposit is interpreted to have elements of structural and stratigraphic control with an overprinting porphyry copper system. Structurally stacked ‘tectonic’ lenses of east dipping, closely spaced, overlapping en-echelon zones of VMS-style massive sulphide have been structurally emplaced during thrusting over the basal serpentinite unit.

 

At least eight individual zones have been interpreted and these zones range from 1 to 18 metres thick. Porphyry and hydrothermal fluids utilised the pre-existing structural architecture to deposit copper-gold mineralisation after the earlier thrusting event.

 

Structurally controlled epithermal gold mineralisation, discordant with early base metal mineralisation, has also been identified hosted in veins, shear veins and breccia zones and is interpreted to have been deposited syn-porphyry emplacement. At least three separate rhyolite sills, are fed by sub-vertical, structurally controlled, feeder dykes/zones.

 

The mineralised sub-vertical dykes/zones are estimated to be approx. 20-40m wide, extend laterally for tens to hundreds of metres and are vertically extensive. Identification of the mineralised dykes opens the possibility of defining significant additional mineralisation outside the flat-lying, structurally remobilised base metal mineralisation that has been historically identified.

  

Lone Star Update

The Phase 1 drilling program at Lone Star included 46 diamond drillholes for 7,888m and assay results from all drillholes have been received (Table 1). The Company’s focus has now shifted to completing a maiden JORC 2022 /NI 43-101 compliant resource in conjunction with consultants from Mining Plus Pty Ltd.

The Phase 1 drill program was designed to satisfy three key objectives:

–        validate the historical drill hole database and resource model;

–        deliver a JORC 2022 /NI 43-101 compliant mineral resource estimate; and

–        test for extensions to the historical resource.

 

Table 1

Hole_ID

From (m)

To (m)

Interval (m)

CuEq(%)

Cu (%)

Au (g/t)

Ag (g/t)

LS21-001

41.5

50.3

9.1

0.75

0.6

0.2

3.2

LS21-001

54.9

61.2

6.9

1.82

1.2

0.8

12.9

LS21-001

65.8

110

44.2

1.46

1.3

0.2

4.6

inc.

65.8

88.7

19.8

2.78

2.4

0.5

6.7

LS21-001

115.8

138.7

19.1

0.40

0.4

NSR

NSR

LS21-001

140.4

162.5

22.1

1.41

1.2

0.3

2.2

inc.

140.4

162.5

8.5

2.64

2.1

0.8

2.4

LS21-001

198.7

200.9

4.7

1.00

0.8

0.3

1

LS21-002

46.9

60.8

15.5

5.04

3.7

1.8

23

inc.

56.7

59.3

2.6

26.06

18.5

10.4

106

LS21-002

95.1

101.1

6

0.42

0.4

NSR

2.5

LS21-002

120.7

176.1

53.6

1.08

0.8

0.4

2

inc.

167.6

176.1

7.6

3.06

2.1

1.4

6.2

LS21-002

193.8

194.7

0.9

4.61

3.8

1.2

4

LS21-002

199.3

200.5

1.2

4.27

3

1.9

4

LS21-002

202

203.6

1.6

1.57

0.9

1

2

LS21-003

72.4

77.4

5

4.35

3.5

1.1

17.5

LS21-003

125.6

147.9

22.3

1.06

0.8

0.4

NSR

inc.

133.8

143.3

9.5

1.47

1.1

0.5

5.6

LS21-003

155.2

211

55.8

0.60

0.6

NSR

NSR

inc.

165.9

175.1

9.2

1.20

1

0.3

NSR

LS21-004

7

14.6

7.6

1.40

1.2

0.3

NSR

LS21-005

42.98

49.83

6.9

0.55

0.4

0.2

2.1

LS21-005

84.1

92.1

7.9

1.26

1.1

0.2

4.7

LS21-006

99.7

111.6

11.9

2.33

1

2

3.3

inc.

108.5

110.1

1.6

9.79

2.1

11.7

7

LS21-007

107.9

125.6

17.7

3.47

1.6

2.8

5.9

inc.

112.2

116.3

4.1

6.40

5.3

1.5

16.8

inc.

117.4

122.3

4.9

5.68

0.5

7.9

2.6

LS21-008

5.5

23.2

17.7

0.80

0.6

0.3

NSR

LS21-009

6.4

46

39.6

0.40

0.4

NSR

NSR

LS21-009

63.4

70.7

7.3

0.76

0.5

0.4

NSR

LS21-010

7.8

43.9

37.9

1.29

1

0.4

4.5

inc.

21

33.2

12.2

2.78

2

1.1

8.8

LS21-010

59.2

80.5

21.3

0.62

0.6

NSR

3.3

LS21-010

127.1

138.4

11.3

0.42

0.4

NSR

3.2

LS21-011

108.8

111.9

3.1

3.32

2.6

1

8.6

LS21-011

119.5

127.7

8.2

1.99

1.3

1

4.7

LS21-012

50.3

50.9

0.6

3.37

2.4

1.4

8

LS21-013

87.8

96

8.2

0.53

0.4

0.2

0.5

LS21-014

3.1

10.4

7.3

0.55

0.4

0.2

2.5

LS21-015

16.5

71.6

55.2

1.26

0.9

0.5

4.5

LS21-016

12.8

162.2

149.4

0.84

0.7

0.2

1.3

inc.

45.1

49.4

4.3

1.28

1.1

0.2

7.4

inc.

108.8

113.4

4.6

4.03

3.1

1.3

11.7

inc.

127.1

136.3

9.2

1.16

1

0.2

4.7

LS21-016

169.8

171.3

1.5

1.30

1.1

0.3

NSR

LS21-016

178.3

182.6

4.3

1.03

0.7

0.5

NSR

LS21-017

80.2

96.9

16.8

0.68

0.4

0.4

2.7

LS21-017

112.8

116.4

3.7

2.35

1.8

0.8

4.4

LS21-017

142.3

174.4

32

0.64

0.5

0.2

1.4

LS21-018

NSR

           

LS21-019

NSR

           

LS21-020

5.2

18.3

13.1

0.97

0.7

0.4

1.6

LS21-020

106.4

114

7.6

0.53

0.4

0.2

NSR

LS21-021

6.1

13.4

7.3

2.70

2.1

0.7

19.1

LS21-021

39

41.8

2.8

2.07

1.2

1.3

3.5

LS21-021

53.6

104.6

50.9

0.57

0.5

0.1

0.9

inc

53.6

71.9

18.3

0.78

0.7

0.1

1.7

LS21-021

120.7

150.3

29.6

0.89

0.8

0.1

3.7

LS21-022

41.2

76.2

35.1

1.04

0.8

0.3

5.6

inc

54.9

59.4

4.6

2.79

2.1

0.8

22.6

LS21-022

97.5

177.4

79.9

0.88

0.6

0.4

2.1

inc

151.2

158.8

7.6

3.21

1.3

2.8

11.8

LS21-022

181.7

193.1

11.4

0.71

0.5

0.3

1.9

LS21-023

138.7

163.1

24.4

0.82

0.6

0.3

2.7

LS21-023

179.8

198.1

18.3

0.77

0.5

0.4

0.9

LS21-024

50.3

75.6

25.3

0.84

0.7

0.2

1.4

LS21-024

110

178

64.3

0.49

0.4

0.1

2.8

LS21-025

140.5

198.7

58.2

0.81

0.6

0.3

2.2

inc.

174.4

181.1

5.2

2.21

1.6

0.9

2.4

LS21-026

82.6

84.7

2.1

0.84

0.7

0.2

1.3

LS21-026

116.1

121.9

5.8

0.58

0.5

0.1

2.2

LS21-026

139.9

184.1

44.2

0.54

0.4

0.2

1

LS21-027

111.6

122.2

10.7

3.09

2.4

1

5.5

inc.

117

122.2

5.2

5.41

4.1

1.9

9.5

LS21-027

151.8

200.6

48.8

0.64

0.5

0.2

0.9

LS21-027

215.8

237.1

21.3

0.86

0.4

0.7

NSR

inc.

226

232.3

6.3

2.31

0.8

2.3

0.8

LS21-028

NSR

           

LS21-029

33.2

42.7

9.5

1.00

0.8

0.3

1.2

LS21-030

25.6

56.1

30.5

1.24

0.9

0.5

2.2

inc.

40.5

53.6

13.1

1.98

1.5

0.7

2.7

LS21-031

32.9

40.5

7.6

1.07

0.6

0.7

2

LS21-031

51.5

55.2

3.7

1.04

0.9

0.2

1.1

LS21-031

57.3

63.4

6.1

1.60

1.4

0.3

1

LS21-031

157.6

181.4

23.8

0.97

0.7

0.4

1.2

inc.

159.1

170.1

11

1.40

1

0.6

1.7

LS21-032

102.1

102.4

1.5

12.65

2.8

14.8

25

LS21-032

133.2

160

26.8

0.62

0.4

0.3

3.3

LS21-033

NSR

           

LS21-034

42.4

55.2

12.8

0.80

0.6

0.3

NSR

LS21-035

NSR

           

LS21-036

137.2

195.1

57.9

0.90

0.7

0.3

0.3

inc.

179.8

195.1

15.2

2.17

1.7

0.7

1.7

LS21-037

192

214.9

22.9

0.27

0.2

0.1

NSR

LS21-037

223.1

243.5

18.9

2.23

1.7

0.8

1

inc.

232.3

241.7

8.2

4.27

3.2

1.6

2.9

LS21-037

253.3

259.7

7.3

1.20

0.8

0.6

1

LS21-038

64.9

110.3

45.4

0.93

0.6

0.5

0.5

inc.

94.8

102.6

7.8

2.17

1.3

1.3

3.2

LS21-039

134.1

217

70.7

0.98

0.7

0.4

2.8

inc.

148.7

152.1

3.4

14.25

4.3

14.9

29.5

LS21-039

230.7

240.2

9.5

1.92

1.3

0.9

4.3

LS21-040

Not Drilled

           

LS21-041

55.2

60.4

5.2

0.93

0.7

0.3

4.9

LS21-041

132.9

139.9

7

0.77

0.5

0.4

1.7

LS21-041

179.5

187.2

7.6

1.60

1

0.9

1.3

LS21-042

Not Drilled

           

LS21-043

5.2

18

12.8

1.11

0.7

0.6

2.3

LS21-044

NSR

           

LS21-045

NSR

           

LS21-046

17.4

27.3

9.9

1.90

1.3

0.9

2

LS21-047

20.7

25.9

5.2

0.63

0.5

0.2

NSR

LS21-048

NSR

           

LS21-049

285.1

297.5

12.3

2.08

1.6

0.7

3.7

CuEq are calculated on the basis of long-term metal prices: Au US$1800/oz, Cu US$4.00/lb, Ag US$18.00

CuEq (%) = (((%Cu) x 22.0462 x $4.0) + ((g/t/Au) x .032 x $1800)+ (g/t/Ag x .032 x $18.0)) ÷ (22.0462 x $4.00))

 


Click Image To View Full Size

 

Belmont-Marquee JV

Marquee Resources (ASX:MQR) is earning the right to acquire an 80% interest in the Lone Star property (NR Nov. 4, 2021 – Belmont Signs Option/JV Agreements With Marquee Resources On Lone Star Property)  by committing to the following:

  • $504,000 cash payments (received) 

  • $2,550,000 Work Program (completed) 

  • 3,000,000 MQR Shares (received) 

  • Produce a NI 43-101 Resource and  

  • Produce a Preliminary Economic Assessment 

  • Within a 24 month term. 

  

About Belmont Resources

 Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium & uranium projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include the Come By Chance (CBC), Athelstan-Jackpot (AJ) and Pathfinder situated in the prolific Greenwood mining camp in southern British Columbia. The Crackingstone Uranium project in the uranium rich Athabaska Basin of northern Saskatchewan. The Lone Star copper-gold mine in the mineral rich Republic mining camp of north central Washington State and the Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin.

  

The Belmont project portfolio:

  • Athelstan-Jackpot, B.C. – * Gold-Silver mines 

  • Kibby Basin, Nevada – Lithium 

  • Come By Chance, B.C. – * Copper-Gold mine 

  • Lone Star, Washington – * Copper-Gold mine 

  • Pathfinder, B.C. – * Gold–Silver mines 

  • Crackingstone, Sask. – Uranium
    * past producing mine
       


Click Image To View Full Size

 

NI 43-101 Disclosure:

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and has been reviewed and approved by Laurence Sookochoff, P.Eng. Mr. Sookochoff is a Director of Belmont Resources Inc.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

“George Sookochoff”

 

George Sookochoff, CEO/President

 

Ph: 604-505-4061

Email: [email protected]

Website: www.BelmontResources.com

  

We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.

Copyright (c) 2022 TheNewswire – All rights reserved.

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