Belmont Resources JV Partner Marquee Provides Exploration Update for Lone Star Copper-Gold Project
Final assay results received from Phase 1 drilling program 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))
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
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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: 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.
