Thursday 22nd March 2018

Resource Clips

Posts tagged ‘Belmont Resources Inc (BEA)’

Deep-sensing geophysics precedes Belmont Resources’ Nevada lithium drilling

March 2nd, 2018

by Greg Klein | March 2, 2018

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.

Deep-sensing geophysics precedes Belmont Resources’ Nevada lithium drilling

Located 65 kilometres from Clayton Valley, Belmont Resources’
Kibby Basin project advances towards Phase II drilling.

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.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Zimtu’s advantages

January 20th, 2018

Opportunities come calling as Zimtu Capital builds junior companies’ potential

by Greg Klein

With equity holdings in a wide range of juniors, Zimtu Capital TSXV:ZC goes well beyond the prospect generator model to help nurture and grow the companies that comprise its assets. Looking at just a few examples, they can be exploring early-stage minerals projects, progressing an advanced-stage rare earths deposit or generating revenue through disruptive technology. Zimtu helps build the companies with administrative, promotional, technical, legal and financial expertise that ranges from prospectors in the bush to market insiders in Europe and Asia.

Opportunities come calling as Zimtu Capital builds junior companies’ potential

The ZimtuADVANTAGE program additionally offers companies a number of other marketing strategies, including extensive social media coverage and the ZimtuADVANTAGE app. The result is wider exposure and therefore greater investor awareness about each participant.

The breadth of Zimtu’s support brings each company a level of expertise, sophistication and prominence not easily obtained by smaller companies. To further understand the approach, take a look at some Zimtu equity holdings.


Meet the ZimtuADVANTAGE companies


92 Resources TSXV:NTY—Lithium in the NWT and Quebec, frac sand in B.C.

Metallurgy as well as field work make 92 Resources’ (TSXV:NTY) Hidden Lake hard rock lithium property a standout among early-stage projects. Grab samples from the highway-accessible location 40 kilometres east of Yellowknife have graded as high as 1.86% Li2O, while channel samples on pegmatite outcrops have reached up to 1.58% over 8.78 metres and 2.57% over 0.75 metres. There’s tantalum too, including a sample of 233 ppm Ta2O5 over 1 metre.

Phase I metallurgical tests, meanwhile, produced a high-grade concentrate of 6% to 6.5% Li2O, with recovery rates of 80% to 85% using conventional methods.

In eastern British Columbia, the company holds the Golden frac sand project next door to Northern Silica’s Moberly silica operation. 92 Resources also picked up three Quebec lithium properties. One of them yielded a 7.32% Li2O grab sample on an initial visit.

92 Resources began the new year by closing an oversubscribed private placement of $1.14 million.

Read an interview with 92 Resources CEO Adrian Lamoureux.


Arctic Star Exploration TSXV:ADD—Diamonds in Finland, critical minerals in B.C.

The Timantti project attracted Arctic Star Exploration’s (TSXV:ADD) experienced team of diamond explorers to a mining-friendly Finnish region with enviable infrastructure and a geological shield hosting two world-class Russian mines. Previous work showed 111 microdiamonds from 52.7 metres of historically extracted core and another 58 from an 18.9-kilogram sample. In November the company began an ambitious program of geophysics, till sampling and drilling to extract a 500-kilogram core sample from each of two especially promising kimberlites.

Arctic Star’s other diamond interests include its drill-ready Stein project in Nunavut and the Diagras JV in the NWT’s Lac de Gras region. An intriguing departure from gemstones, however, is the company’s Cap property in B.C., home to an exceptionally rare carbonatite-syenite complex that offers potential for several commodities. Assays released last fall from sampling and a single drill hole showed “highly anomalous” niobium, rare earths and phosphate grades.

In late November the company closed oversubscribed private placements totalling $1.69 million.

Read an interview with Arctic Star chairperson Patrick Power.


Belmont Resources TSXV:BEA—Lithium in Nevada

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Deep-sensing geophysics will follow
Belmont Resources’ 2017 drill campaign.

Sixty-five kilometres from Clayton Valley, Belmont Resources TSXV:BEA sees encouraging signs of similar geology at its Kibby Basin lithium project. Beginning imminently will be an especially deep-sensing electromagnetics survey to help identify Phase II drill targets.

Last year’s two-hole program extracted core samples grading between 70 ppm and 200 ppm Li2O. Thirteen of 25 samples surpassed 100 ppm, “indicating that the sediments could be a potential source of lithium for the underlying aquifers.”

The company interprets gravity survey data to suggest a closed basin covering 400 hectares and reaching at least 1.5 kilometres in depth, sufficiently large to develop layers that could act as aquifers.

A more recent acquisition, the Mid Corner-Johnson Croft property in New Brunswick comes with historic, non-43-101 sample results for zinc, copper and cobalt. But it hasn’t seen modern geophysics. Belmont’s portfolio also includes a 50% interest in two Saskatchewan uranium properties.

The company closed an oversubscribed private placement of $312,200 In December.

Read an interview with Belmont Resources CFO/director Gary Musil.


Castle Silver Resources TSXV:CSR/Canada Cobalt Works—Cobalt in Ontario

Update: Effective February 23, 2018, Castle Silver Resources begins trading as Canada Cobalt Works TSXV:CCW.

Historically, high-grade silver was the attraction but the northern Ontario region of Cobalt got that name for a reason. It’s in and around that area that Castle Silver Resources TSXV:CSR—soon to be renamed Canada Cobalt Works—seeks one of the essential energy metals. Underground mini-bulk sampling at the company’s Castle flagship brought assays up to 3.1% cobalt. More assays are pending from last year’s sampling and 22-hole, 2,405-metre drill campaign at the former mine.

Eighty kilometres southeast, an initial program at the company’s Beaver project collected three hand-cobbed samples, all exceeding 4% cobalt with impressive nickel grades, silver and some gold.

In November Castle Silver signed a provisional milling agreement to locate a plant on its property to process material from Granada Gold Mine’s (TSXV:GGM) project about 200 kilometres away. Additionally Castle Silver sees potential in its Re-2OX proprietary metallurgical process to produce cobalt concentrate.

The company closed a private placement of $1.03 million in mid-January.


Commerce Resources TSXV:CCE—Rare earths in Quebec, tantalum-niobium in B.C.

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Amid increasing concern about critical minerals supply,
Commerce Resources’ Ashram rare earths deposit
benefits from geology, metallurgy and location.

An advanced-stage rare earths project endowed with magnet feed elements, amenable to conventional processing and moving towards pre-feasibility in a mining-friendly province—that begins to describe Commerce Resources’ (TSXV:CCE) Ashram deposit in northern Quebec.

Obviously waiting for an update is the 2012 resource, which used a 1.25% cutoff for this near-surface deposit:

  • measured: 1.6 million tonnes averaging 1.77% total rare earth oxides and 7.7% CaF2

  • indicated: 28 million tonnes averaging 1.9% TREO and 5.9% CaF2

  • inferred: 220 million tonnes averaging 1.88% TREO and 4.5% CaF2

The company has sunk about 9,200 metres since then, hitting high grades within carbonatite host rocks containing minerals amenable to well-known processing methods. Showing a superior distribution of magnet feed REOs, Ashram’s metallurgical studies continue to streamline the flowsheet for a high-grade concentrate, also finding potential for a fluorspar byproduct. The REE-hungry world has noticed, with companies like Solvay, Mitsubishi, Treibacher, BASF, DKK, Albemarle, Blue Line and others requesting samples.

Turning to other critical minerals, Commerce’s Blue River/Upper Fir tantalum-niobium deposit in southeastern B.C. reached PEA in 2011 and a resource update in 2013.

Read more about Commerce Resources.


Emerita Resources TSXV:EMO—Zinc in Spain, zinc and lithium in Brazil

An acquisitive nature could position this company to take part in zinc’s ascendency. In October Emerita Resources TSXV:EMO joined a 50/50 JV on the Plaza Norte property in northern Spain. The new turf hosts extensions of the past-producing Reocin mine, which gave up 62 million tonnes averaging 11% zinc and 1.4% lead up to 2003. Plaza Norte’s historic, non-43-101 drill results include 9.72% zinc over 18.96 metres and 7.05% over 8.2 metres. As project operator, Emerita has a review underway of the property’s extensive previous data. The company’s JV partner, the Aldesa Group, is a specialized construction and infrastructure firm operating globally.

In Brazil, Emerita holds a 100% option on the Litio project adjacent to the Companhia Brasileira de Litio lithium mine. Emerita’s initial field work has found pegmatite dykes similar to those next door. Other potential acquisitions include the Salobro zinc project in Brazil, along with Paymogo and Aznalcollar, two zinc properties in Spain.

Last month the company closed an oversubscribed private placement totalling $4.24 million, with funds earmarked for Plaza Norte and Salobro.


Georox Resources TSXV:GXR—Conventional oil and gas in western Canada

A non-binding LOI signed in December would bring Georox Resources TSXV:GXR a 16,146-hectare Saskatchewan acquisition with 97% oil production and an average working interest of 96.6%. Average daily net production estimates for the first nine months of last year came to 1,415 boe/d. “The oil pools have significant reactivation, waterflood implementation and infill drilling potential,” Georox stated. Subject to due diligence and approvals, the parties expect to consummate by the end of February for a price of $4.5 million.

The company offered a private placement earlier this month of up to $700,000.


Glance Technologies CSE:GET—Bringing the newest technology to consumer transactions

Connecting smartphone users with merchants and service providers, Glance Technologies’ (CSE:GET) Glance Pay system goes beyond fast payments to provide marketing, targeted coupons, customer feedback, in-merchant messaging, custom rewards and fraud protection.

At the forefront of blockchain developments, Glance Technologies earlier this month announced a definitive agreement with Cannabis Big Data Holdings to provide technology allowing marijuana retailers and producers to handle cryptocurrency transactions. That’s one example of licensing agreements with the cannabis, fitness and wellness, tourist and foreign student markets.

Late last month Glance Technologies closed a bought deal totalling $11.05 million, boosting the company’s treasury to over $17.4 million.


Golden Dawn Minerals TSXV:GOM—Q2 gold-copper production in B.C.

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Having finished dewatering, Golden Dawn prepares to
restart underground operations at southern B.C.’s Lexington mine.

With trial mining set to begin within months, Golden Dawn Minerals TSXV:GOM seeks to revive southern B.C.’s historic Greenwood mining camp. The company holds a cluster of past-producers within 20 kilometres of its Greenwood mill, a 212-tpd facility expandable to 400 tpd that was built in 2007 and put on care and maintenance the following year. The local infrastructure’s condition inspires the company to enter production without de-risking at the feasibility level.

Top priority goes to Lexington, which produced 5,486 ounces of gold, 3,247 ounces of silver and 860,259 pounds of copper in 2008. Two other frontrunners are the Golden Crown gold-copper project and May Mac silver-gold-polymetallic project, both nearby former mines that underwent drilling last year. Meanwhile Golden Dawn continues to expand its portfolio, both in the Greenwood area and farther north.

The company’s most recent financing closed this month on $337,500.

Read more about Golden Dawn Minerals.


Kapuskasing Gold TSXV:KAP—Newfoundland copper and zinc

The property’s first drill program since the 1960s barely whetted Kapuskasing Gold’s (TSXV:KAP) appetite for copper exploration at its Lady Pond flagship in northern Newfoundland. Now backed by new intel, the company plans to return for another attack this year. An historic, non-43-101 estimate gives the project’s Sterling prospect about one million tonnes averaging 1% copper that’s open in all directions. Grab samples released in October showed up to 9.03% copper for the Twin Pond prospect, 7.19% copper for Sterling and 1.54% copper with cobalt and silver for the Lady Pond prospect.

Located 94 kilometres by road from a Rambler Mining and Metals TSXV:RAB base metals mill, the Lady Pond project can be reached by logging roads and ATV.

On Newfoundland’s Great Northern Peninsula, Kapuskasing picked up the Daniel’s Harbour property, host to the former Teck mine that produced around seven million tonnes averaging 7.8% zinc from 1975 to 1990. The past-producer’s Mississippi Valley Type deposit suggests the potential for additional resources appearing in clusters.

While in the Great Northern Peninsula, Kapuskasing staked another 1,625 hectares to move in on the burgeoning Gunners Cove gold area play. The company closed private placements totalling $115,000 in August, following a $201,200 placement that closed in June.

Read an interview with Kapuskasing president/CEO Jon Armes.


King’s Bay Resources TSXV:KBG—Nickel-cobalt in Labrador, copper-cobalt in Newfoundland

An unexpected benefit of the new Trans-Labrador Highway was recognized by a prospector who sampled roadside copper and cobalt with some nickel and silver. King’s Bay Resources TSXV:KBG moved onto the virgin turf with a more systematic field program, airborne VTEM and last autumn’s initial two-hole program. Although collared over 150 metres apart, each hole found mineralization over wide intercepts, encouraging plans for further drilling following geostatistical and structural analysis.

Meanwhile Phase I field work at the company’s Trump Island project in northern Newfoundland collected 15 grab samples, four of them grading over 1% copper and between 272.3 ppm and 1,213.6 ppm cobalt. One sample underwent an additional ore grade analysis, showing 6.07% copper, 300 ppm cobalt and 14.4 ppm silver. Follow-up exploration is slated for spring.

King’s Bay offered a $250,000 private placement in September that followed financings that closed on $402,000 the previous month.


MGX Minerals CSE:XMG—Commodities and technology for energy and industry

As if trying to fuel the energy revolution single-handedly, MGX Minerals CSE:XMG holds a portfolio bursting with nearly three dozen projects. In Alberta and Utah the company counts 20 lithium properties in the exploration state and two more undergoing well-testing. B.C. properties include three silicon projects and eight magnesium projects. Unsated, in November the company opened a satellite office in Chile to evaluate opportunities there.

Some project highlights include the Driftwood Creek magnesium property in B.C., now moving towards a preliminary economic assessment. Paradox Basin in Utah has exploration underway for oil, gas, lithium and other brine minerals. A 2,000-metre drill program has just begun at the company’s 20%-held Case Lake lithium project in Ontario, following a recently completed 5,400-metre campaign.

Among a number of technological developments, MGX claims a breakthrough for zinc-air flow batteries by avoiding dendrite damage, “the single most significant hurdle” in the batteries’ development. With its subsidiary ZincNyx Energy Solutions, the company’s now working on final commercial design for mass production of its scalable 20 kWh zinc-air mass storage battery.

On another technological front, MGX partners with its 46%-held PurLucid Treatment Solutions on a patented process for brine treatment and selective lithium recovery.

Activity like that doesn’t come cheap. In December MGX closed private placements totalling $12.9 million. The previous month MGX and PurLucid won federal/provincial grants totalling up to $8.2 million for their oilpatch water treatment system.


Mountain Boy Minerals TSXV:MTB—Exploring the treasures of B.C.’s Golden Triangle

Opportunities come calling as Zimtu Capital builds junior companies’ potential

Rugged but rich terrain attracts Mountain
Boy Minerals to B.C.’s Golden Triangle.

With a stake in several northwestern B.C. properties, Mountain Boy Minerals TSXV:MTB took part in two joint-ventured drill programs last year, along with geophysics on two 100%-held properties. Results so far from the company’s 35%-held Red Cliff gold project show high grades over wide intervals as drilling followed a mineralized system over two kilometres. More assays are pending from the 51-hole program.

Another 14 holes went into Mountain Boy’s 20%-held Silver Coin, hitting high-grade gold and finding a new gold zone. Again, the company’s awaiting further lab results. A 2011 resource gives the project measured and indicated totals of 842,416 ounces gold, 4.46 million ounces silver and 91.2 million pounds zinc. The inferred numbers come to 813,273 ounces gold, 6.7 million ounces silver and 128 million pounds zinc.

Moving closer to the drill stage are two contiguous 100%-held silver-base metals projects, BA and Surprise Creek. Trench assays from late 2016 suggest polymetallic promise with high-grade zinc as well as silver and lead. Following previous drilling, metallurgical tests produced a barite concentrate that exceeds industry standards for this mineral essential to oil and gas exploration.

Mountain Boy offered a private placement of up to $300,000 in October.

Read an interview with Mountain Boy Minerals chairperson René Bernard.


ParcelPal Technology CSE:PKG—Online shopping with fast delivery

Opportunities come calling as Zimtu Capital builds junior companies’ potential

ParcelPal’s “Get Anything functionality” adds
fast delivery to shop-by-phone transactions.

Order via smartphone app and get quick delivery at home, work or elsewhere—that’s the disruption ParcelPal Technology CSE:PKG brings to merchants and courier services. Retail, liquor and especially restaurants are currently the partner businesses as ParcelPal expands throughout the Greater Vancouver region. The company says its “Get Anything functionality” allows consumers to “order virtually anything and have it delivered in an hour or less.”

Just six months in operation, the company sees positive business and consumer response, with 3,000 app downloads in October and November, and repeat clients. Future goals include expansion in other major Canadian cities, and eventually the U.S. and abroad.

ParcelPal closed an oversubscribed private placement of $1.65 million in mid-January.


Rockcliff Metals TSXV:RCLF—A gold-VMS camp in Manitoba

It might be said that Rockcliff Metals TSXV:RCLF picks up where Hudbay Minerals TSX:HBM leaves off. Rockcliff assembled its portfolio largely by acquiring non-core Hudbay assets in Manitoba’s Flin Flon-Snow Lake region. As a result Rockcliff holds interests in five gold projects, two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. All lie within trucking distance of two Hudbay processing facilities.

With three projects active last year, Rockcliff updated its Talbot resource in December, announcing an inferred 150 million pounds copper, 130.4 million pounds zinc, 241,000 ounces gold and 3.8 million ounces silver that’s open in all directions.

Recent stepout drilling brought high-grade zinc results from Bur, moving the project from historic towards 43-101 resource stage. Currently the non-43-101 numbers show an indicated 1.05 million tonnes averaging 8.6% zinc and 1.9% copper, along with an inferred 302,000 tonnes averaging 9% zinc and 1.4% copper, as well as some silver and gold.

Polymetallic VMS isn’t Snow Lake’s only attraction. Among Rockcliff’s gold properties is the former Laguna mine, where induced polarization and resistivity found 17 anomalies over a trend that hasn’t been drilled since 1944.

In August Rockcliff closed an oversubscribed private placement of $1.35 million.

Read more about Rockcliff Metals here and here.


Saville Resources TSXV:SRE—Niobium-tantalum in Quebec

Strong sample grades with an outstanding 5.9% niobium pentoxide enticed Saville Resources TSXV:SRE onto Commerce Resources’ Eldor property earlier this month. While the latter company focuses on bringing its rare earths project to pre-feasibility, Saville took on a 75% earn-in on the Eldor niobium claims, enthusiastic about their potential for critical minerals.

Out of 64 samples collected by Commerce, 40 exceeded 0.5% Nb2O5, 16 of them surpassing 1%. Assays also showed significant tantalum, phosphate and rare earths numbers. Among previous drill results were 0.46% Nb2O5 over 46.88 metres and 0.55% over 26.1 metres (including 0.78% over 10.64 metres).

Results also show niobium-tantalum occurring within the mineral pyrochlore, the world’s dominant source for those critical elements. Eldor’s pyrochlore shows a relatively course grain size, a positive prognosis for metallurgy.

At Saville’s other northern Quebec asset, Covette’s sampling and geophysics show potential for base and precious metals.

In December the company offered private placements totalling up to $500,000.

Read more about Saville Resources.


Voltaic Minerals TSXV:VLT—Lithium from brine and from wastewater too

Voltaic Minerals TSXV:VLT sees three key distinctions to its Green Energy lithium project in Utah. A review of extensive historic oil and gas exploration data indicates the property’s brine to be over-saturated with 40% minerals in 60% water, suggesting potential for a wide range of minerals. The brine also faces immense pressure and high temperature, two factors that would aid extraction. The 1,683-hectare property has proximity to road, rail and power.

But apart from the Green Energy project, Voltaic takes another approach to sourcing lithium. The company has engaged Whittier Filtration, a division of global leader Veolia Water Technologies, to develop marketable processes for extracting lithium from wastewater taken from commercial and industrial sites. The companies expect to report bench scale tests soon.

Deep-penetrating geophysics to probe Belmont Resources’ Nevada lithium project

January 17th, 2018

by Greg Klein | January 17, 2018

Now being mobilized, an electromagnetic survey will help target brine aquifers on Belmont Resources’ (TSXV:BEA) Kibby Basin property. The company describes Quantec Geoscience’s Spartan AMT/MT method as “a full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band. The result is a measurement that is applicable from near-surface to potential depths of three kilometres or more.” Belmont credits Quantec with over 5,000 geophysical programs in over 50 countries.

Deep-penetrating geophysics to probe Belmont Resources’ Nevada lithium project

Two holes sunk on Kibby Basin last year brought
core samples between 70 ppm and 200 ppm lithium.

The Kibby Basin survey should take nine days, with another two weeks for an initial report.

The program follows a satellite data review and two-hole 2017 drill campaign on the 2,760-hectare Nevada property 65 kilometres north of Clayton Valley. Thirteen of 25 core samples surpassed 100 ppm lithium, “indicating that the sediments could be a potential source of lithium for the underlying aquifers,” the company stated.

A gravity survey the previous year suggested the property hosts a closed basin which the company later estimated to cover four square kilometres, extending to at least 1.5 kilometres in depth.

Last week Belmont announced its lawyers would request the annulment of a decision by the International Centre For Settlement Of Investment Disputes reported in August. The tribunal stated it had no jurisdiction in a dispute involving Belmont, EuroGas Inc and the Slovak Republic regarding Rozmin SRO’s ownership of the Gemerska Poloma talc deposit. Belmont seeks to be restored as a claimant in the arbitration proceedings.

The company also holds the Mid Corner-Johnson Croft property in New Brunswick, a prospect with some historic, non-43-101 zinc-copper-cobalt sampling results that has yet to undergo modern geophysics.

In northern Saskatchewan, Belmont and International Montoro Resources TSXV:IMT share a 50/50 stake in the Crackingstone and Orbit Lake uranium properties.

Belmont closed an oversubscribed private placement of $312,200 in December.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Satellite imagery helps Belmont Resources home in on Nevada lithium targets

December 14th, 2017

by Greg Klein | December 14, 2017

Thanks to NASA and the U.S. Geological Survey, archived satellite data sharpens the focus on Belmont Resources’ (TSXV:BEA) Kibby Basin lithium project in Nevada. The company now has geophysics and other work planned for a busy new year.

Satellite imagery helps Belmont Resources home in on Nevada lithium targets

The satellite info shows hydrothermal indicator minerals over about one square kilometre of the 2,760-hectare property, CEO/president Vojtech Agyagos stated. “This area hosted the highest lithium surface samples as well and is the site of our proposed third drill hole. Our 2017 drill program discovered both water (fresh) and up to 200 ppm lithium in the core in the eastern side of the property about two kilometres from these thermal alterations.”

Drill results released last June showed clay-rich core samples grading between 70 ppm and 200 ppm lithium, “with 13 of 25 core samples assaying over 100 ppm lithium, indicating that the sediments could be a potential source of lithium for the underlying aquifers,” Belmont announced at the time.

Agyagos added that the satellite-revealed geothermal alteration “sits above the deepest gravity-indicated area from Belmont’s 2016 Wright geophysical ground gravity survey.”

Results from that survey suggest a basin model about 4,000 metres deep with similarities to Clayton Valley, host to Albemarle Corp’s (NYSE:ALB) Silver Peak lithium mine.

Belmont’s next plans call for a number of surveys including magnetotelluric, vertical electrical sounding, geothermal probe, electromagnetic resistivity and possibly seismic to help identify lithium brine drill targets. The company expects to finish EM work in early January.

Along with International Montoro Resources TSXV:IMT, Belmont holds a 50/50 stake in two northern Saskatchewan uranium properties, Crackingstone and Orbit Lake, for which the companies seek JV partners.

In New Brunswick last month, Belmont acquired the Mid Corner-Johnson Croft zinc-copper property, which shows promising historic sampling results but has yet to undergo modern geophysics.

Last week the company closed an oversubscribed private placement of $312,200.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Belmont Resources adds New Brunswick zinc-copper to Nevada lithium

November 23rd, 2017

by Greg Klein | November 23, 2017

Today’s geophysics can “see” what older technology missed, opening up new opportunities in exploration. That’s partly what attracted Belmont Resources TSXV:BEA to its new acquisition, the Mid Corner-Johnson Croft zinc-copper prospect in New Brunswick. While powerlines interfered with 1960s-era geophysics, the company expects accurate results from modern ground electromagnetic and/or gravity surveys.

Belmont Resources adds New Brunswick zinc-copper to Nevada lithium

A single sample of breccia taken in 1970 brought historic, non-43-101 assays of 0.96% cobalt and 16.04% zinc, along with silver, cadmium, copper and lead. A few 1990s samples included non-43-101 results of 1.66% zinc, 2% zinc and 1.04% zinc, with some gold, silver, copper, lead and cadmium.

The 700-hectare property has paved road access as well as the transmission line.

Belmont plans to review all historic data prior to field work that would begin next year. Meanwhile the company remains focused on its Kibby Basin lithium project in Nevada, 65 kilometres north of Clayton Valley. Belmont plans EM, vertical electrical sounding and/or geothermal probe surveys to identify targets for the flagship’s next phase of drilling.

The New Brunswick acquisition costs Belmont two million shares and $10,000 over one year. The company may buy back a 1% NSR out of an existing 2.5% NSR.

Belmont also announced its intention to apply for a TSXV price waiver for a proposed private placement of up to $300,000.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Gary Musil of Belmont Resources comments on lithium exploration in the U.S.

August 11th, 2017

…Read more

Nevada’s new-era fuel

July 7th, 2017

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

by Isabel Belger

Isabel Belger

Isabel Belger

Isabel: I would like to introduce Gary Musil, CFO and director of Belmont Resources TSXV:BEA. Hi Gary, it is a pleasure to talk to you again.

Gary: Likewise, always a pleasure to talk to you.

Isabel: To get started, tell us a little bit about your background and how you got involved with Belmont Resources.

Gary: Belmont was a client of mine, and in 1992 they asked me to get more involved by joining the board of directors and later as a full-time chief financial officer in 1999.

Isabel: Belmont Resources has two different locations that you are involved with. Could you tell us a bit more about these two?

Gary: Belmont holds 50% interest in a large uranium land package (12,841 hectares) in the northern Athabasca Basin near Uranium City, Saskatchewan, Canada. Approximately $2 million was incurred on the claims from magnetic, radiometric, electromagnetic and radon gas surveys through to a successful 20-hole diamond drill program totalling 3,075 metres. The project is available for a joint venture partner or acquisition. Belmont’s current focus is on its 2,760-hectare Kibby Basin-Monte Cristo Valley, Nevada lithium project.

Isabel: So your focus is on the Kibby Basin lithium project. What makes that project so appealing?

Gary: The demand and price of lithium continues to increase as we move into a new era of electric vehicles and other technology that is requiring lithium. In addition, we are near the construction of a large facility, the Tesla Motors Gigafactory #1, near Sparks, Nevada, which will be a huge consumer of the end product. Secondly, expansion of a large electric bus factory in California to the south will also see increased consumption of lithium production for batteries. Furthermore, our Kibby Basin hosts several key features that are similar to the nearby and only operating lithium mine in North America, the area at Silver Peak-Clayton Valley, Nevada.

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

Lithium assays from last spring’s campaign have
Belmont Resources returning for additional geophysics and drilling.

Isabel: What is the most exciting thing about the Kibby Basin property up to now—what work have you accomplished there?

Gary: We commenced last year with all the baseline work, such as a NI 43-101 geological technical report, followed by a ground geophysical survey and then a detailed gravity survey to map the central basin. This generated a 3D model of the basin which provided the coverage to enhance the potential of the Kibby Basin to host a lithium-bearing brine structure.

The basin model revealed the basin to be in the order of 4,000 metres deep and approximately 7.4 kilometres long. In June Belmont drilled two diamond drill core holes, KB-1c to 548 feet [167 metres] on the eastern basin-bounding fault and KB-2c to a depth of 1,498 feet [457 metres] in the playa-dry lake bed, in the area.

The company was pleased with the core sample assays, to discover the presence of lithium ranging from 70 ppm to 200 ppm lithium with 13 of 25 core samples assaying over 100 ppm lithium, indicating that the sediments could be a potential source of lithium for the underlying aquifers.

Isabel: What are your experiences working in the U.S.A.? It is known that a lot of lithium comes from China and we’ve heard Donald Trump wants to “make America great again.” Has there been any changes in regard to working on a project that could produce lithium in the U.S.A.?

Gary: Belmont’s original mineral project, going back over 30 years ago, was a joint venture in a silver-producing mine in Nevada. We usually contract out work, i.e. geologists, geophysics work, surveys, drilling contractors, etc., to local reputable contractors. This saves costs and develops a good working relationship with the state and county officials. Any changes from the federal and state governments in regards to working on a project that could produce lithium in the U.S.A. should be positive for Belmont Resources. We anticipate governments could add incentives to mining exploration and producing companies to encourage them to expand the mineral resources and sell the end products to factories being built in Nevada, rather than importing lithium and other minerals from foreign countries.

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

Thirteen of 25 Kibby Basin core
samples surpassed 100 ppm lithium.

Isabel: What are the plans for the rest of 2017?

Gary: Belmont’s next stage of evaluation will consist of carrying out a further geophysical survey, i.e. electromagnetic resistivity survey and possibly seismic surveys, of the property, which should generate higher aquifer probability targets for further drilling this year.

Isabel: How much money do you have in the bank right now?

Gary: Belmont recently completed a four-million-unit private placement at $0.05 per share complete with a two-year transferable warrant (eight-cent warrant in year one and 10-cent warrant in year two) which generated $200,000. We will continue to raise further financing in order to continue exploration of the Kibby Basin throughout the year.

Isabel: How much of Belmont Resources is held by the management?

Gary: Belmont’s management currently owns 5.5% of the issued and outstanding shares and is increasing its position as demonstrated in participation in the recently completed private placements, as well as exercising of warrant and stock option shares. Including friends, relatives and close associates, these holdings increase to over 25%.

Isabel: What do you like about the mineral exploration business?

Gary: The anticipation of drilling results and then the discovery of minerals in a new area is always exciting. Also, travelling to new areas of the world and meeting new people there.

Isabel: What is your favourite commodity and why?

Gary: Belmont has explored for silver, antimony, gold, uranium, as well as oil and gas. Lithium will be my favourite for years to come, as I see the uses of this commodity expanding, as technology continues to develop and expand along with it.

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

Gary Musil, CFO/director
of Belmont Resources

Fun facts

Your hobbies: Golf, cycling, hiking

Sources of news you use: Canadian Broadcasting Corporation (CBC) and CNN through TV and the Vancouver Sun/Financial Post newspapers

Your favourite airport: Vancouver International Airport and Phoenix, Arizona, as that usually means a golf vacation during the winter months

Your favourite tradeshow: Outdoor Recreation and Golf Show in Vancouver

Favourite commodity besides the ones in your company: Gold, especially placer gold

People you’d most like to have dinner with: Ha—Fred Couples, senior professional golfer; So Yeon Ryu, ladies’ professional golfer; Shania Twain, country music star; and of course having dinner with my wife in many new places in the world where we have been and not been to yet

If you could have a superpower, it would be: Healing

Belmont Resources has drilling imminent for Nevada lithium

April 19th, 2017

by Greg Klein | April 19, 2017

In search of lithium-bearing brines similar to those of the Clayton Valley, 65 kilometres south, drilling could resume any day now at Belmont Resources’ (TSXV:BEA) Kibby Basin project. Having attempted sonic drilling in February, the company now has Harris Exploration Drilling and Associates mobilizing a track-mounted rig for an HQ program to possible depths of about 300 metres.

Belmont Resources has drilling imminent for Nevada lithium

A new drilling contractor brings considerable Clayton Valley experience
and proprietary techniques to Belmont Resources’ Kibby Basin.

The contractor brings extensive Clayton Valley experience in recovering core from unconsolidated lakebed sediments and in testing lithium brine with Harris’ proprietary instrumentation, Belmont stated.

Based on last year’s gravity survey on the 2,760-hectare property, initial holes “are designed to test the eastern basin-bounding fault, where lithium brines are likely to well up in the structural zone, analogous to the concentration of lithium brines along the Paymaster fault in Clayton Valley, and to test the stratigraphy near the central axis of the basin,” the company added. “The holes will test for porous basin sediments, which could serve as aquifers for lithium brines.”

In Saskatchewan’s Uranium City region, Belmont holds a 50/50 JV with International Montoro Resources TSXV:IMT in the 12,091-hectare Crackingstone and Orbit claims.

Belmont also has international arbitration proceedings underway regarding the revocation of mining rights at a talc project in Slovakia.

During February and March the company closed private placements totalling $467,500.

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.

Exploring opportunity

June 17th, 2016

A capacity crowd attends the first annual Vancouver Commodity Forum

by Greg Klein
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A capacity crowd attends the first annual Vancouver Commodity Forum


“There’s excitement in the air,” said Cambridge House International founder Joe Martin. That’s the mood he senses as junior explorers emerge from the downturn. And certainly optimism was evident on June 14 as more than 450 people converged on the Vancouver Commodity Forum for an afternoon of expert talks amid a showcase of two dozen companies. Keynote speakers included Martin, Chris Berry of the Disruptive Discoveries Journal, Jon Hykawy of Stormcrow Capital, John Kaiser of Kaiser Research Online and Stephan Bogner of Rockstone Research.

A capacity crowd attends the first annual Vancouver Commodity Forum

Lithium, not surprisingly, stood out as a commodity of interest. While cautioning against over-enthusiasm for the exploration rush, Berry and Hykawy each affirmed the need for juniors to find new sources of the metal. Cobalt and scandium featured prominently too, as did other commodities including what Kaiser called “the weird metals”—lesser known stuff that’s vital to our lives but threatened with security of supply.

Kaiser also noted he was addressing a crowd larger than his last PDAC audience, another indication that “we’ve turned the corner.”

Attendees also met and mingled with company reps. Potential investors learned about a wide gamut of projects aspiring to meet a growing demand for necessities, conveniences and luxuries.

Presented by Zimtu Capital TSXV:ZC, the forum’s success will make it an annual event, said company president Dave Hodge. Berry emceed the conference, holding the unenviable task of “making sure Dave stays well-behaved.”

Read interviews with keynote speakers:

Meet the companies

Most companies were core holdings of Zimtu, a prospect generator that connects explorers with properties and also shares management, technical and financing expertise. Zimtu offers investors participation in a range of commodities and companies, including some at the pre-IPO stage.

After sampling high-grade lithium on its Hidden Lake project in the Northwest Territories earlier this month, 92 Resources TSXV:NTY plans to return in mid-July for a program of mapping, exposing spodumene-bearing pegmatite dykes, and channel sampling. The company closed the final tranche of a private placement totalling $318,836 in April. Hidden Lake’s located near Highway 4, about 40 kilometres from Yellowknife and within the Yellowknife Pegmatite Belt.

With one of the Athabasca Basin’s largest and most prospective exploration portfolios, ALX Uranium TSXV:AL has a number of projects competing for flagship status. Among them is Hook-Carter, which covers extensions of three known conductive trends, one of them hosting the sensational discoveries of Fission Uranium TSX:FCU and NexGen Energy TSXV:NXE. ALX’s strategic partnership with Holystone Energy allows that company to invest up to $750,000 in ALX and retain the right to maintain its ownership level for three years. ALX closed a private placement first tranche of $255,000 last month, amid this year’s busy news flow from a number of the company’s active projects.

A capacity crowd attends the first annual Vancouver Commodity Forum

Arctic Star Exploration TSXV:ADD boasts one of northern Canada’s largest 100%-held diamond exploration portfolios. Among the properties are the drill-ready Stein project in Nunavut and others in the Lac de Gras region that’s the world’s third-largest diamond producer by value. North Arrow Minerals TSXV:NAR holds an option to earn up to 55% of Arctic Star’s Redemption property.

Aurvista Gold TSXV:AVA considers its Douay property one of Quebec’s largest and last undeveloped gold projects. The Abitibi property has resources totalling 238,400 ounces of gold indicated and 2.75 million ounces inferred. Now, with $1.1 million raised last month, the company hopes to increase those numbers through a summer program including 4,000 metres of drilling. Douay’s 2014 PEA used a 5% discount rate to forecast a post-tax NPV of $16.6 million and a post-tax IRR of 40%.

Looking for lithium in Nevada, Belmont Resources TSXV:BEA now has a geophysics crew en route to its Kibby Basin property, which the company believes could potentially host lithium-bearing brines in a similar geological setting to the Clayton Valley, about 65 kilometres south. Results from the gravity survey will help identify targets for direct push drilling and sampling.

A mineral perhaps overlooked in the effort to supply green technologies, zeolite has several environmental applications. Canadian Zeolite TSXV:CNZ holds two projects in southern British Columbia, Sun Group and Bromley Creek, the latter an active quarrying operation.

With a high-grade, near-surface rare earths deposit hosted in minerals that have proven processing, Commerce Resources TSXV:CCE takes its Ashram project in Quebec towards pre-feasibility. The relatively straightforward mineralogy contributes to steady progress in metallurgical studies. Commerce also holds southeastern B.C.’s Blue River tantalum-niobium deposit, which reached PEA in 2011 and a resource update in 2013.

Permitted for construction following a 2014 PEA, Copper North Mining’s (TSXV:COL) Carmacks copper-gold-silver project now undergoes revised PEA studies. The agenda calls for improved economics by creating a new leach and development plan for the south-central Yukon property. In central B.C. the company holds the Thor exploration property, 20 kilometres south of the historic Kemess mine.

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