Vancouver, British Columbia (FSCwire) - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403); (“Belmont”, or the “Company)
Quantec Geoscience Limited mobilizing with SPARTAN AMT/MT technology:
Quantec Geoscience Limited of Toronto, Canada has been contracted and is mobilizing to be on site at Belmont’s Kibby Basin property this week to commence the SPARTAN AMT/MT survey. The data acquisition phase will be completed in approximately nine (9) days. The preliminary survey report should be received approximately two (2) weeks after completion of the field survey.
Quantec’s SPARTAN AMT/MT is a full tensor magnetotelluric technology that acquires resistivity data in the 10kHz to 0.001Hz frequency band. The result is a measurement that is applicable from near-surface to potential depths of 3km or more. Quantec Geoscience Limited is a leader in deep exploration, and has completed in excess of 5000 geophysical projects in over 50 countries over the last 30 years, (including over 500 MT surveys completed worldwide).
The final 3D Inversion reports should assist in pin pointing the higher probability brine aquifer targets for the next phase of drilling.
To date Belmont has completed the following exploration programs on the Kibby Basin:
1) A NI 43-101 Technical Report completed by E.L. “Buster” Hunsaker III in May 2016; followed by a property Geophysical Review & Work Proposal by Wright Geophysics Inc. in June 2016. As recommended the Company then commissioned a Gravity Survey over the original Kibby 16 claims, which was completed by Magee Geophysical Services LLC of Reno, Nevada later in June 2016. The 3D Gravity model demonstrated the potential for a massive underground brine reservoir in a closed basin, with dimensions estimated at 4km2 and at least 1.5 km deep. Geothermal indicators suggest an area with locally higher heat-flow. The arid climate and a closed basin, with a dry or seasonal lake, is a key feature allowing enough time to concentrate brine.
2) Additional staking of claims as recommended following the gravity survey results;
3) Surface sampling from a nominal depth of 30 cm of the playa sediments. Some of the samples were as much as 2 times the crustal average with a high of 73.8 ppm Li.
4) Two diamond drill holes in April 2017. Hole KB-1c was drilled to a depth of 548 feet on the eastern basin-bounding fault, and Hole KB-2c was drilled to a depth of 1498 feet in the playa. Core sample assays from Hole KB-2c ranged from 70 ppm to 200 ppm Li with 13 of 25 core samples assaying over 100 ppm Li; indicating that the sediments could be a potential source of lithium for the underlying aquifers.
5) Review of the United States Geological Survey (“USGS”) and NASA archived satellite data (1996-2017); and archived ASTER/Landsat data, which has identified higher than normal concentrations of clay-mica-hydrous silica-ferric iron minerals in the north-central playa. ASTER has been most effective in broadly categorizing surface units that can be considered as proxy for geothermal systems.
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
Belmont has recently optioned 31 mineral claims encompassing approx. 7 sq.km; located 24 km northwest of Saint John, New Brunswick – the Mid Corner/Johnson Croft – a Zinc, Cobalt prospect.
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
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 2017; 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.