Vancouver, British Columbia (FSCwire) - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403); (“Belmont”, or the “Company).
Kibby Basin –Nevada update
Belmont, has been reviewing EOSDIS NASA Worldview and the United States Geological Survey (USGS) archived satellite data (1996 -2017) acquired over the Company’s Kibby Basin - Lithium brine exploration project.
Archived ASTER/Landsat satellite data collected over the Monte Cristo Valley has identified significant anomalous higher than normal concentrations of clay-mica-hydrous silica-ferric iron minerals in the north-central playa in nearly the same area as indicated by the ASTER data within the Belmont, Kibby Basin – claim area.
ASTER/Landsat class satellite data have been most effective at broadly categorizing surface units that can be considered as proxy for geothermal systems (e.g., sulfates, carbonates, clays) than identifying specific minerals and their mixing components (Taranik, 1988, Sabine et al., 1994, Rowanet al., 2005 and Zhanget al., 2007).
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This new information was provided by the Central Mineral & Environmental Resources Science Center, United States Geological Survey, Denver Federal Center, Denver, Colorado-USA.
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Principals and applications of indirect methods which involve using hydrothermal minerals as a proxy of geothermal systems were discussed by Hunt, 1977; Clark, 1999; Greenet al., 1998; Martini et al., 2004 and Vaughan et al., 2003 and 2005; whereas the direct thermal indices and associated applied methods were discussed in Mongillio, 1994, Hackwell et al., 1996; Haselwimmer et al., 2011; Rowan et al., 2003; Coolbaugh et al., 2007. Well-established methods in multispectral, hyperspectral analysis, in conjunction with modern subsurface geophysics, advanced imagery from space-based and airborne sensor systems, permits their direct and immediate application in geothermal energy prospecting and their evaluation using both thermal signature, and spectral signatures indices (Coolbaugh et al., 2007; Gupta and Roy 2007) (Prospecting for geothermal energy through satellite based thermal data.)
Vojtech Agyagos, CEO/President comments;
“The discovery of this area of hydrothermal indicator minerals representing approximately (1) square/Kilometer of our 27 square kilometer Kibby Basin, Nevada property will become the center of our continued exploration. This area hosted the highest Lithium surface samples as well and is the site of our proposed third drill hole. Our 2017 drill program discovered both water (fresh) and up to 200ppm lithium in the core in the Eastern side of the property about 2 kilometers from these Thermal alterations. This geothermal alteration sits above the deepest gravity indicated area from Belmont’s’ 2016 Wright Geophysical ground gravity survey.
Belmont, is presently seeking quotes from geophysical engineering companies for Magnetotelluric (MT), Vertical Electrical Sounding (VES) and Geothermal Probe surveys with a view to isolate the most prospective area to drill for geothermal brine water.
This new information will be used, along with the planned electromagnetic resistivity (‘EM’) and possibly seismic survey of the property to pin point the higher aquifer probability targets for the next phase of drilling. The electromagnetic resistivity (‘EM’) survey is expected to be completed early in January 2018.”
NI 43-101 Disclosure
Robert (“Bob”) G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada and Nevada, U.S.A.
For further information see our Website at: www.BelmontResources.com
On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada-U.S.A. The Company believes the property to be highly prospective to host lithium. Subsequent ground geophysics & gravity surveys, surface sampling and a two hole- 2046 ft. diamond drill program have confirmed the presence of lithium on Kibby.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims totaling approx. 1724 hectares ( 4,260 acres) , adjoining the Kibby 16, increasing the total Kibby Basin land position (the “Property”) to 2,760 hectares (6,820 acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan, Canada
ON BEHALF OF THE BOARD OF DIRECTORS
Vojtech Agyagos, CEO/President
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. Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties. 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 2016; 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.
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.