Saturday 31st October 2020

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Update: Belmont Resources’ geophysics advances historic Greenwood B.C. properties

A heli-borne LIDAR survey coincided with the drone-based mag over Belmont Resources’ Athelstan-Jackpot gold project. The company has also flown surveys over its nearby Come by Chance project.


October 15 update: Results from a low-level magnetic survey over Belmont Resources’ (TSXV:BEA) Come by Chance property provide stronger evidence of the volcanic caldera indicated by the LIDAR survey, the company announced. In addition to the potential suggested by an intrusive beneath the caldera, the data points to possible epithermal-type mineralization, Belmont added.

On October 14 the company closed a $120,000 private placement.


Belmont Resources reports mag survey findings from southern B.C.

October 1, 2020

October 6, 2020, update: Results from the recently completed LIDAR survey on Belmont Resources’ (TSXV:BEA) Come by Chance property will be compiled with mag data prior to an IP survey or drilling in search of a deep-seated copper-gold porphyry.


The most recent survey results from this project in British Columbia’s historic Greenwood camp reveal additional targets for follow-up work. A low-level drone-based magnetic survey over the Athelstan-Jackpot gold project supports the presence of two northwest-trending faults and delineates a west-northwest-trending zone of listwanite between the two faults, Belmont Resources TSXV:BEA stated. The property’s near-surface mineralization is primarily hosted within this band of listwanite, the company added.

Historic, non-43-101 records credit the property’s two former mines with producing 7,600 gold ounces and 9,000 silver ounces. The two mines and at least nine known gold zones extend over an area of about 240 by 1,000 metres that’s associated with listwanite. Listwanite is an ultramafic rock alteration “directly associated with several multi-million-ounce gold deposits” in B.C.’s Atlin, Bralorne and Barkerville regions, as well as California’s Motherlode district, the company reported.

Compilation of the mag survey and previous exploration found one target of special interest at depth below the property’s J-34 and A zones. Among earlier work in the undrilled area was chip sampling at the A zone, with historic, non-43-101 assays of 35.2 g/t gold over three metres and 26.2 g/t over 2.5 metres.

Chip sampling at J-34, 200 metres northwest, brought historic, non-43-101 results including 6.6 g/t gold over 3.7 metres and 1.9 g/t over 6.8 metres.

Belmont has the area under consideration for further work, possibly including an induced polarization survey. The company has an application underway for multi-year exploration that could include drilling as well as IP.


Belmont Resources completes airborne LIDAR survey over B.C. gold property

September 22, 2020

Results are pending, but a 5.3-square-kilometre helicopter-borne LIDAR survey has finished over the Athelstan-Jackpot gold project in southern British Columbia’s historic Greenwood camp. Belmont Resources TSXV:BEA described the light detection and ranging program as an “effective, low-cost method of accurately mapping the bare-earth surface (i.e. the ground surface as it would appear stripped free of vegetation) and showing centimetre-scale variations in surface elevation.”

Begun last month, the LIDAR study accompanied a drone magnetic survey, both of which were also intended to target the company’s nearby Come By Chance copper-gold project. Initial findings from the A-J survey show over 100 historic exploration pits, trenches and other workings, “many of which were unknown from more recent work on the property,” the company reported.

Belmont plans to compile results from the two airborne surveys with data from geological, rock and soil, and trenching work to identify drill targets.

On August 27 the company announced TSXV approval of a $688,125 private placement that followed a $25,000 placement that closed in July.


Belmont Resources to begin first systematic exploration of historic B.C. property

July 2, 2020

Following recently announced plans for its nearby Athelstan-Jackpot project in southern British Columbia’s Phoenix-Greenwood camp, Belmont Resources TSXV:BEA has now released a summer agenda for its Come By Chance claims.

Belmont Resources to begin first systematic exploration of historic B.C. property

Both hosting a powerline route, the two properties sit on either side of Highway #3, roughly 500 kilometres east of Vancouver, and on a mineralized trend from the former Phoenix mine three kilometres northwest. The trend also runs through the company’s Black Bear and Pride of the West properties.

This month the newly optioned 527-hectare Come By Chance project gets an airborne high-res imagery survey to map old shafts, mine dumps, showings and rock exposures. The resulting data will be overlaid onto a 3D Digital Terrane Model to help guide future exploration.

Plans also call for a deep-penetration induced polarization survey of the entire property to investigate a possible porphyry system. A sampling program will target the property’s numerous showings, pits and adits. Despite the location in a busy former mining camp, this will be CBC’s first systematic exploration campaign.

“Early indications are that the Come By Chance property provides a huge potential for a large mineralized porphyry system containing a broad spectrum of mineralization types including copper-silver-gold-bearing skarn zones, gold-bearing massive sulphide veins, and gold-bearing epithermal quartz veining,” said president/CEO George Sookochoff. “Our 2020 exploration program is designed to acquire further evidence to substantiate the presence of this system.”

Late last month the company announced Athelstan-Jackpot plans that also included IP and airborne imagery, as well as possible drilling.

Belmont’s regional portfolio includes the Pathfinder gold-polymetallic property and an LOI for the Lone Star property across the border in Washington state. The company also holds interests in the Crackingstone uranium property in northern Saskatchewan and the Kibby Basin lithium property in Nevada.

Last month Belmont offered a private placement up to $25,000. In May the company closed the final tranche of an over-subscribed placement totalling $199,665.

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