Saturday 24th February 2018

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Posts tagged ‘nevada’

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

Equitorial Exploration to drill for NWT lithium

June 28th, 2017

by Greg Klein | June 28, 2017

The rig returns to a Northwest Territories hardrock lithium project for the first time in a decade as Equitorial Exploration TSXV:EXX heads to the field in July. About 30 kilometres from the former Cantung tungsten mine in the territory’s southwest, the Little Nahanni Pegmatite Group project will also undergo mapping, channel sampling and resampling of drill core from 2007 when two holes struck intervals of 1.2% Li2O over 10.94 metres and 0.92% over 18.27 metres.

Equitorial Exploration to drill for NWT lithium

Red paint marks a channel sample
interval from last year’s field work at LNPG.

Summer drilling will test the vertical extent of lithium-cesium-tantalum-type pegmatite dyke swarms now identified at about 300 metres in depth and 13 kilometres in strike. The dykes are well exposed on cirque walls of the mountainous terrain, the company stated.

Channel sampling last year brought assays up to 1.13% Li2O, 71.1 g/t Ta2O5 and 0.03% SnO2 over 10.35 metres. That included a sub-interval of 1.86% Li2O, 116.7 g/t Ta2O5 and 0.05% SnO2 over 6.3 metres.

Three specimen samples released in October brought results up to 2.85% Li2O, 28.1 g/t Ta2O5 and 0.05% SnO2.

Equitorial filed a 43-101 technical report on the LNPG project in March.

In Utah last May, the company staked another 1,092 hectares, expanding its Tule Valley lithium project to about 2,792 hectares. That gives Equitorial the entire Tule Valley Basin, which the company describes as a closed basin which could be similar to Nevada’s Clayton Valley. Equitorial also sees Clayton Valley similarities in the company’s Gerlach property in Nevada.

Equitorial Exploration expands Utah lithium claims

May 24th, 2017

by Greg Klein | May 24, 2017

Pleased with geophysical results from its Tule Valley lithium project in Utah, Equitorial Exploration TSXV:EXX has increased its holdings to take in the entire Tule Valley Basin. A ground gravity survey shows “the Tule Valley fill has a depth of over 500 metres in the western portion of the property” and “the valley fill deepens further than 500 metres heading east from the current claim blocks,” Equitorial stated.

Equitorial Exploration expands Utah lithium claims

As a closed basin, Tule Valley might
host an extremely mineralized brine.

As a result the company staked another 1,092 hectares, expanding the property to about 2,792 hectares. Equitorial plans to drill the property this season.

The company also has discussions underway with other parties to assess methods of extracting metals from water.

Equitorial characterizes the Tule Valley as a closed basin in which surface water and groundwater flowing into the basin have no escape route. Surface evaporation leaves minerals dissolved in brines and evaporation pools. In that respect Tule Valley might be similar to Nevada’s Clayton Valley, the company added.

The road-accessible property sits about 190 kilometres from Salt Lake City.

Equitorial’s two other lithium projects include the Gerlach property in Nevada, which the company describes as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley.” In the Northwest Territories, the company holds the Little Nahanni Pegmatite Group property, for which Equitorial filed a 43-101 technical report last March.

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.

Equitorial Exploration closes acquisition of two western U.S. lithium properties

April 7th, 2017

by Greg Klein | April 7, 2017

With the deal now complete, Equitorial Exploration TSXV:EXX builds a portfolio of lithium properties. The company picked up the Tule Valley project in Utah and the Gerlach property in Nevada by paying Umbral Energy CSE:UMB $50,000 and two million shares, as well as assuming a payment of $100,000. A 2% NSR applies to both properties.

Equitorial Exploration closes acquisition of western U.S. lithium properties

The under-explored Gerlach property might
host structural similarities to Clayton Valley.

Umbral described Tule Valley as a closed valley several kilometres south of lithium source rocks, with active groundwater flow along its western margin. The property “has been affected by evaporate-style processes,” the company stated. “Tule Valley may therefore be conducive to the presence of lithium-bearing groundwater. In this respect, Tule Valley has similar characteristics to Clayton Valley, Nevada, a dry lake bed where lithium is derived from brines located within more porous sediment layers at depth under playa.”

As for Gerlach, also known as the San Emidio project, Umbral characterized it as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley, being bounded by normal faults to the east and west of the property and surrounded by volcanics such as rhyolitic flows and tuffs.”

In March Equitorial filed a 43-101 technical report for its Little Nahanni Pegmatite Group property in the Northwest Territories, a hardrock project that underwent sampling last year. This year’s LNPG program could include resampling previous core, mapping, prospecting, channel sampling and drilling.

Equitorial Exploration files 43-101 for NWT lithium project

March 17th, 2017

by Greg Klein | March 17, 2017

Citing highly encouraging results, a 43-101 technical report has been completed and filed for Equitorial Exploration’s (TSXV:EXX) Little Nahanni Pegmatite Group property in the Northwest Territories.

Equitorial Exploration files 43-101 for NWT lithium project

LNPG’s mountainous terrain could undergo drilling this year.

Also referred to as LNPG or the Li property, the project underwent sampling last year, with results reported in October and September.

Field work traced lithium-cesium-tantalum pegmatite dyke swarms over a combined length of 13 kilometres on the property’s mountainous terrain, the company stated. The dykes’ vertical extent has been traced for 300 metres through natural exposure and drilling in 2007. “Where sampled, each dyke swarm is up to 52.6 metres wide and contains multiple dykes that range from 0.2 to 10 metres in width.”

This year Equitorial anticipates resampling the 2007 core, drilling, channel sampling, mapping and prospecting.

Located in the southern NWT just east of the Yukon border, LNPG sits about 30 kilometres from the former Cantung tungsten mine. In addition to the NWT hardrock project, Equitorial has begun the acquisition of two lithium brine projects in Utah and Nevada, proximal to the Tesla Gigafactory #1.