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Gravity survey successful, Belmont Resources plans to drill for Nevada lithium

by Greg Klein | July 5, 2016

Belmont Resources TSXV:BEA plans staking, sampling and drilling for its Nevada lithium prospect following positive results from a gravity survey. Interpretation supports the Kibby Basin property’s potential to host lithium-bearing brines in a geologic model similar to that ascribed to Clayton Valley, according to Belmont’s July 5 announcement. Nevada’s Clayton Valley hosts North America’s only lithium producer, Albemarle Corp’s (NYSE:ALB) Silver Peak mine.

Gravity survey successful, Belmont Resources plans to drill for Nevada lithium

Results from Belmont’s gravity survey were merged with
USGS data to examine the Kibby Basin property and region.

The gravity results suggest a basin model about 4,000 metres deep and, similar to the Clayton Valley basin, steeper to the east than the west. “The asymmetry appears to be an important control to brine entrapment at the Clayton Valley deposit,” Belmont stated. “A 7.4-kilometre-long structure is identified in Kibby Valley with characteristics interpreted to be akin to major structures bounding the south side of Clayton Valley.”

The gravity interpretation has brought recommendations that the company extend its property east to cover the major structure and north-northeast to cover part of the basin’s deeper section.

Now in the planning stage is a Phase II program of staking, sampling and drilling. Last month Belmont closed the second and final tranche of a private placement totalling $332,500.

Read interviews with Chris Berry and Jon Hykawy discussing energy metals.

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