Belmont Resources Submits Permit To Drill At 100% Owned Crackingstone Uranium Project, North Saskatchewan

2024-06-18 / @thenewswire

(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 a comprehensive 40 drill holes, totaling up to 10,000 metres over the next 2 years drill permit for its 100% owned Crackingstone Uranium Property (the “Property”) situated in the Uranium City district of North Saskatchewan, has been submitted to the Fish, Wildlife and Lands Branch, Saskatchewan Ministry of Environment (the “Ministry”).

Consultation with First nations have now been initiated. The Company anticipates a first review of the drill permit application by the Ministry to be completed in July of this year with the potential of a granted permit in time for a fall drilling program.

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Drill Target Details

At this stage, multiple drill holes collars have been planned along a structurally controlled fault, EM conductive mineralized corridor with surface samples ranging up to 15.6% U3O8. View map.

2024 Drill Targets over Uranium Radiometric Survey

Drill Target selection parameters.

Strong Radiometric uranium anomaly
Over 1% U3O8 occurrence at surface
Association with fault
Association with EM conductor
High Scintillometer radioactivity (CPS) readings

George Sookochoff, President & CEO, Belmont Resources commented “I am very eager to commence drilling on our Crackingstone uranium project. I firmly believe that we have some of the most promising drill targets in the entire Athabasca region.”

2008 Drilling

A 20 hole, 3,000 meter diamond drilling program covering a 1,800 meter strike length was carried out in 2008. The drilling tested an EM conductor from the Boom Lake – Crackingstone intersection north along the Boom lake fault. All of the drill holes intercepted uranium mineralization along with pegmatite and hematite alteration.

Pegmatite is often associated with uranium mineralization in the Athabasca basin. Of equal importance was the extensive amount of hematite alteration intercepted across the entire 1.8 kilometer zone. Hematite alteration is commonly associated with uranium in the Athabasca basin. Hematite alteration is an indication of uranium precipitation during the hydrothermal event.

Drill Hole C14:

2.087% U3O8 over 0.3 m and 0.873% U3O8 over 0.5 m within 1.182% U3O8 over 0.9 m from 49.1 to 50.0 m

A planned follow up drill program was cancelled due to the 2008 financial market collapse.

Uranium City - Beaverlodge Uranium District, North Shore of Lake Athabasca Saskatchewan.

The 100% owned Crackingstone property is located in the Beaverlodge uranium district, on the north shore of Lake Athabasca (view map) and only 6 km by road from Uranium City, Saskatchewan. A power line crosses the southern portion of the property.

Beaverlodge Mining District situated on the north shore of Lake Athabasca

Historic work in the Uranium City area dates back to the 1950’s. From 1953 to 1982, sixteen deposits were brought into production which produced a total of 70,250,000 lbs U3O8 averaging 0.24 % U3O8. The grades ranged from 0.18% to 0.43%.

Uranium city area past producing uranium mines

The Crackingstone property covers 5 kms of the Black Bay Shear Zone, a major structural feature in the region which hosts several past producing mines such as the past producing Leonard and Smitty uranium mines combined to produce 876,000 lbs of uranium oxide and to the northeast the Cayzor uranium mine produced approximately 1,372,800 lbs with unexplored depth potential.

About Belmont Resources

Belmont Resources has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare earths projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:

Athelstan-Jackpot (A-J): 2 former gold mines. Initial 2023 drill results from Athelstan gold mine area drilling indicates peripheral alteration zone to a potential deep-seated gold-copper porphyry.
CrackingstoneUranium: High grade uranium property situated in the prolific Beaverlodge Uranium District of the Athabasca basin. The Project covers 4 kilometers of the Black Bay Shear Zone, a northeast trending magnetic low corridor which hosts 4 past producing mines.

Come By Chance (CBC): 2021 geophysics delineated potential large copper-gold porphyry
2022 drilling provided further vectors towards potential core of porphyry;
The Lone StarCopper-Gold: optioned to Australian Marquee Resources ASX:MQR; MQR has spent $2.5M in drilling, completed new resource in Dec. 2022 and a PEA in November 2023 earning them a 50% interest in the property.
The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin: Optioned 80% of the central Kibby Playa claim block to Australian Marquee Resources MQR. MQR has spent $2.5M in drilling in 2022 for potential deep seated lithium brine. 2022 Drilling confirmed high levels of lithium-bearing sediments along with dissolved lithium in the groundwater. Mineralized intervals containing up to 924 ppm lithium with greater than 300 ppm lithium over thicknesses in excess of 450m have been identified in core samples of clay-rich playa sediments.

Belmont Projects

NI 43-101 Disclosure:

The technical and scientific information in this news release has been reviewed and approved by Laurence Sookochoff, P.Eng. Technical Advisor of the Company, who is a Qualified Person as defined by NI 43-101

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2023, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Details on the sources of information contained within this News Release:

Report No. 126; Uranium Deposits of the Athabasca Region, Saskatchewan by L.S. Beck 1969, DEPARTMENT OF MINERAL RESOURCES, Geological Sciences Branch, Precambrian Geology Division.

A May 2008 Report On A Reconnaissance Sampling Program & Radon Gas Survey On the Crackingstone Property by J. Morgan, PhD Geologist & R.A. Bernatchez, B. Sc, P.Eng. Consulting Geologist.

A June 2009 Report On the Crackingstone Property 2008 Spring-Summer Diamond Drilling Program for Belmont Resources by J. Morgan, PhD Geologist & R.A. Bernatchez, B. Sc, P.Eng. Consulting Geologist.

An Interpretation of Aeroquest’s Airborne Geophysical Survey Magnetic and Electromagnetic Survey Job # 08-057 for Belmont Resources Magnetic and Electromagnetic Survey, April 16, 2009 by R.A. Bernatchez, P. Eng. Consulting Geologist.

Saskatchewan Mineral Deposit Index (SMDI) - digital information on all known mineral occurrences in the Province of Saskatchewan.