Located 65 kilometres from Clayton Valley, Belmont Resources’ Kibby Basin project advances towards Phase II drilling.
Recently received geophysical results will help Belmont Resources TSXV:BEA select drill targets for its Kibby Basin lithium property in Nevada. Described as a “full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band,” the survey covered about 36 square kilometres to depths of three kilometres over a playa basin and some adjoining turf.
While a 2016 gravity survey suggested the presence of a basin about 4,000 metres deep, the new results “clearly map a more conductive zone beginning at approximately 500 metres’ depth,” Belmont stated. Targets for a 2018 drill program on the 2,760-hectare property are being considered where potential brine contacts are closest to the playa surface, the company added.
Core samples from last year’s two-hole, 624-metre campaign assayed between 70 ppm and 200 ppm Li2O, with 13 of 25 samples exceeding 100 ppm.
A November acquisition added the Mid Corner-Johnson Croft zinc-cobalt prospect in New Brunswick to Belmont’s portfolio. Belmont also holds a 50% interest in two Saskatchewan uranium properties.
This week the company offered an amended private placement of up to $100,000, following an oversubscribed financing that closed on $312,000 in December.