Friday 28th October 2016

Resource Clips

Posts tagged ‘Albemarle Corp (ALB)’

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

July 5th, 2016

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.

Belmont Resources to buy Nevada lithium prospect from Zimtu Capital

March 30th, 2016

by Greg Klein | March 30, 2016

A purchase agreement with Zimtu Capital TSXV:ZC will have Belmont Resources TSXV:BEA looking for lithium in Nevada. Belmont plans to acquire the Kibby Basin property and anticipates a program of mapping and surface sampling during the current exploration season, the companies announced March 30.

Belmont Resources to buy Nevada lithium prospect from Zimtu Capital

Regional geophysical anomalies in the Kibby Basin area compare to those of the lithium-rich Clayton Valley,
Belmont stated.

Totalling about 1,036 hectares, the claims sit 65 kilometres north of Clayton Valley, home to North America’s only lithium producer, Albemarle Corp’s NYSE:ALB Silver Peak mine, and a busy area play. Previous research of the Kibby Basin “has indicated that proximal rhyolitic flows and tuffs surrounding the Basin could be a potential source for the possibility of saturated lithium brine in the Kibby Basis Playa,” Belmont stated. “In addition to this, the Kibby Playa is located within a geothermal cluster, at a Basin low setting.” Regional geophysical signatures show anomalies comparable to those of the Clayton Valley, the company added.

Current and projected demand from lithium-ion batteries for consumer electronics, electric vehicles and energy storage present a bullish case for lithium. In February Benchmark Mineral Intelligence reported a 47% increase in this year’s lithium carbonate prices over the 2015 average.

The Kibby Basin deal has Belmont giving Zimtu $5,000 on signing, $20,000 and 500,000 shares on TSXV approval and another 500,000 shares six months later. Zimtu retains a 1.5% NSR, half of which Belmont may buy for $1 million.

Belmont also announced a private placement of up to $350,000 for the Kibby Basin project and general working capital.

As part of its business model, Zimtu acts as a project generator to provide other companies with properties and advisory services.

Read more about demand for lithium and other energy minerals.