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Belmont Resources adds gold-copper prospect to its Greenwood holdings

by Greg Klein | May 28, 2020

Another property acquisition shows continued interest in this region dotted with former mines and early-stage projects. Expanding its presence in southern British Columbia’s Greenwood camp, Belmont Resources TSXV:BEA has optioned the Come By Chance claims, a 527-hectare block about eight kilometres from Grand Forks and 500 highway kilometres east of Vancouver.

Belmont Resources adds gold-copper prospect to its Greenwood holdings

Although unused pits and adits attest to previous activity, CBC has yet to be explored systematically, the company stated. So far work has largely focused on the property’s copper skarn-type mineralization that’s similar to the historic Phoenix deposit three kilometres northwest.

“Given the regional importance of epithermal gold mineralization and the favourable structural setting, a thorough exploration program to assess the property for this style of mineralization is planned,” Belmont added.

“The acquisition of the Come By Chance property is another exciting milestone for the company and further enhances Belmont’s strategy of consolidating properties with known historic gold-copper mines in the prolific Greenwood mining district,” commented George Sookochoff. The president/CEO comes from a Greenwood mining family.

Belmont’s 100% option calls for $7,500 on approval plus 500,000 shares issued over two years. The vendor retains a 1.5% NSR, two-thirds of which the company may buy for $1 million.

In anther Greenwood acquisition earlier this month, Belmont signed a definitive agreement to pick up the Athelstan-Jackpot claims, covering a site of historic gold-silver production. Looking just across the border, the company signed an LOI in February to acquire the Lone Star copper-gold past-producer in Washington state’s Republic area. Previous Greenwood acquisition announcements from Belmont concern the Glenora, Pride of the West and Great Bear claims.

Assays released in November from the company’s Greenwood-region Pathfinder project reached up to 4.999 ppm gold, 35.86 ppm silver, 20,700 ppm copper and 45.1 ppm cobalt.

Earlier this month Belmont closed the final tranche of an oversubscribed private placement totalling $199,665.

Read more about Belmont Resources.

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