Belmont Preparing for IP Survey and Drilling on CBC Copper-Gold Porphyry Project

2021-06-10 / @thenewswire

(TheNewswire)

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Vancouver, B.C. Canada – TheNewswire - June 10, 2021; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is pleased to announce that the company is preparing to initiate an IP Survey on its CBC copper-gold porphyry project in the Greenwood mining camp of southern British Columbia. The IP survey will provide definitive drill targets which will be tested in a planned drill program for Q3 2021.

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The 2020 Lidar and Magnetic surveys provided some specifics to the interpretation as well as additional information which further substantiated the potential for a copper/gold related porphyry deposit as well as a skarn related Phoenix type deposit.

It is a well-established fact that skarn and porphyry deposits are associated in a volcanic environment. The skarns may indicate local skarn development from rising hydrothermal solutions or from porphyritic material migrating from a concealed magma chamber via structurally developed permeable zones.

The copper/gold porphyry model for the CBC Property is of porphyritic mineralization within the peripheral crest of a contact between a host rock and an intrusive within a volcanic neck. The surface indication of this intrusive on the CBC Property would be indicated by a caldera which formed in the expansion of an initial intrusion and the shrinking in its waning stages.

The Crook Lake topographical depression was likely formed in the waning stages of magma consolidation by the residual pressurized hydrothermal material escaping to surface at the most favourable location likely being a cross-structure where the cross-structural breccia was augmented to a hydrothermal breccia. The cessation of hydrothermal activity caused the depressurization to the breccia and thus the depression, the water accumulation, and the resulting Crook Lake.

In addition to the potential of a mineral resource associated with a deep-seated mineral-bearing intrusive beneath the caldera there is the potential for an epithermal type deposit of a bonanza gold-bearing zone. This is indicated in the intersection of an epithermal vein by a drill-hole in the Betts area, and also in the intersection of a “chute of massive sulphides at 175 metres in the 251 metre easterly driven lower Betts adit” (Minfile 082ESE261).

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The anomalous magnetometer results, shows fingers from two distinct main mag anomalies (1,000 metres and 800 metres wide) reaching the surface which is interpreted as the known surficially exposed mineralized breccias within major faults.

George Sookochoff, President & CEO commented “I once asked a very successful mining entrepreneur how he was able to discover so many deposits. His answer: By drilling! And that’s exactly what we intend to do on the CBC project.

Our 2020 exploration program on the CBC property has revealed a “classic” geophysical signature similar to several large copper-gold porphyry deposits situated in the prolific copper-gold porphyry belt of British Columbia. Numerous large targets have already been identified, but with the results of the IP survey we will be able to qualify these targets before we put the drill in the ground”.

About Belmont Resources

Belmont Resources is engaged in the business of acquiring and developing gold-copper-lithium projects located in North America. By utilizing new exploration technology and geological modelling the company is identifying new sources of gold-copper-lithium mineralization.

The Company’s project portfolio includes:

- Athelstan & Jackpot Gold mines, B.C. (Athelstan-Jackpot property - 100%)

- Kibby Basin Lithium Project, Nevada – (100%)

- Betts Copper-Gold mine, B.C. (Come By Chance property - 100%)

- Bertha & Pathfinder Gold-Silver mines, B.C. (Pathfinder property - 100%).

- Lone Star Copper-Gold mine, Washington State (Lone Star Property - LOI)

Qualified Person

Laurence Sookochoff, P.Eng. is the qualified person under National Instrument 43-101 who has reviewed and approved the technical content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-505-4061

Email: george@belmontresources.com

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.