Tuesday 23rd January 2018

Resource Clips


Posts tagged ‘zinc’

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.

Kapuskasing goes after gold in Newfoundland’s Gunners Cove area

January 9th, 2018

by Greg Klein | January 9, 2018

A possibly unique discovery by another company has brought Kapuskasing Gold TSXV:KAP back to Newfoundland’s Great Northern Peninsula. The company staked three blocks totalling 1,625 hectares near the town of St. Anthony, proximal to White Metal Resources’ (TSXV:WHM) Gunners Cove project. Last November White Metal announced highly anomalous gold and other metal values in samples taken from black shale on a wide area of the property, which had previously seen very little exploration.

Kapuskasing goes after gold in Newfoundland’s Gunners Cove area

Kapuskasing’s new turf covers “the same favourable geology,” the company stated. “This could potentially be a very important new discovery in a unique geological environment similar to that of other large gold deposits hosted in black shale environments around the world.”

“It’s grassroots, but these early days are interesting,” Kapuskasing president/CEO Jon Armes tells ResourceClips.com. “We need a presence there because this looks like it could turn into a whole new camp, a whole new geological environment that’s underexplored. And the best way to position yourself is by staking claims, with the advantage of having 100% interest with no underlying royalties. I think we’ll get more insight after the snow’s gone, when people get their boots on the ground and take a closer look.”

Kapuskasing intends to compile an exploration program over the next few months.

The acquisition expands the company’s Great Northern presence. In September Kapuskasing finalized a 100% option agreement on Daniel’s Harbour, roughly 200 kilometres southwest. The former zinc mine produced around seven million tonnes averaging 7.8% zinc between 1975 and 1990 from a Mississippi Valley Type deposit.

Off the peninsula but close to Newfoundland’s northern coast, assays are expected soon from Kapuskasing’s flagship Lady Pond project, where drilling began in November. Recent grab samples and historic, non-43-101 drill results have returned high copper grades.

Read Isabel Belger’s interview with Kapuskasing Gold president/CEO Jon Armes.

Step-out drilling grows potential of Rockcliff Metals’ historic zinc deposit in Manitoba

December 20th, 2017

by Greg Klein | December 20, 2017

Step-out drilling grows potential of Rockcliff Metals’ historic zinc deposit in Manitoba

A late autumn drill campaign on one of the priority properties in Rockcliff Metals’ (TSXV:RCLF) extensive Snow Lake portfolio shows potential to expand the historic Bur zinc-polymetallic deposit. Assays from 10 step-out holes totalling 3,250 metres brought zinc grades up to 3.18%, with 7.2% zinc-equivalent, over 4.85 metres. Another star result showed 1.76% zinc, with 5.9% zinc-equivalent, over 6.91 metres.

Each hole intersected the Bur VMS horizon, a potentially 8,000-metre-long mineralized area hosting the historic deposit adjacent and to the northeast of the drill targets, stated president/CEO Ken Lapierre. “The potential to identify additional resources along this important horizon is considered excellent and will be the focus of upcoming drill programs.”

Some highlights from the most recent campaign show:

Hole RBU002

  • 1.76% zinc, 0.96% copper, 0.59% lead, 0.26 g/t gold and 32.76 g/t silver, for 5.9% zinc-equivalent over 6.91 metres, starting at 269.65 metres in downhole depth
  • (including 0.99% zinc, 2% copper, 0.86% lead, 0.57 g/t gold and 56.35 g/t silver, for 9.1% zinc-equivalent over 2.43 metres)

RBU005

  • 1.65% zinc, 1.84% copper, 0.15% lead, 0.05 g/t gold and 15.32 g/t silver, for 6.8% zinc-equivalent over 4.25 metres, starting at 302.82 metres
  • (including 0.5% zinc, 6.18% copper, 0.08% lead, 0.04 g/t gold and 31.31 g/t silver, for 16.9% zinc-equivalent over 0.96 metres)

RBU007

  • 3.18% zinc, 1.41% copper, 0.13% lead, 0.04 g/t gold and 13.25 g/t silver, for 7.2% zinc-equivalent over 4.85 metres, starting at 231.15 metres
  • (including 5.38% zinc, 1.95% copper, 0.2% lead, 0.05 g/t gold and 15.62 g/t silver, for 10.9% zinc-equivalent over 2.85 metres)

True widths weren’t available.

Dating to 2007, Bur’s historic, non-43-101 estimate used a zinc-equivalent cutoff of 5%:

  • indicated: 1.05 million tonnes averaging 8.6% zinc, 1.9% copper, 12.1 g/t silver and 0.05 g/t gold

  • inferred: 302,000 tonnes averaging 9% zinc, 1.4% copper, 9.6 g/t silver and 0.08 g/t gold

Rockcliff’s 100% earn-in from Hudbay Minerals TSX:HBM requires $3 million in spending over four years. Hudbay owns a copper-zinc concentrator about 22 kilometres by road from Bur.

Earlier this month Rockcliff released a resource update for its Talbot flagship, another VMS property in the company’s roughly 45,000-hectare central Manitoba Snow Lake portfolio. The package includes gold projects too. Last month the company reported 17 geophysical anomalies over the Laguna property, site of a former gold mine.

With three of the projects active, Rockcliff’s entire portfolio sits within trucking distance of two Hudbay processing facilities. Included are two copper-polymetallic deposits with resource estimates, three zinc deposits with historic, non-43-101 estimates, five gold projects and a non-core zinc project recently optioned to Nevada Zinc TSXV:NZN.

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

Read more about Rockcliff Metals here and here.

Golden Dawn Minerals adds another gold-silver property to its portfolio of advanced B.C. assets

December 19th, 2017

by Greg Klein | December 19, 2017

Part of a strategy to gather advanced-stage to near-production properties, Golden Dawn Minerals TSXV:GOM has picked up another British Columbia project. Situated 35 kilometres north of Revelstoke and 600 kilometres east of Vancouver, the 3,052-hectare J&L gold-silver-base metals property will function separately from the company’s Greenwood mining camp revival in southern B.C.

Golden Dawn Minerals adds another gold-silver property to its portfolio of advanced B.C. assets

J&L’s infrastructure includes a 40-person camp.

J&L comes with historic resources for three zones, paved highway and forestry road access, a rail siding and loading facility in Revelstoke, a 40-person camp, maintenance buildings, workshops and a fleet of underground mining equipment.

As part of a 2012 preliminary economic assessment, Huakan International Mining compiled a resource that Golden Dawn considers historic and non-43-101:

Main zone

  • measured and indicated: 3.95 million tonnes averaging 5.68 g/t gold and 56.5 g/t silver for 722,000 ounces gold and 7.18 million ounces silver

  • inferred: 4.34 million tonnes averaging 4.16 g/t gold and 57.8 g/t silver for 580,200 ounces gold and 8.06 million ounces silver

The company also reported M&I grades of 1.94% lead and 3.56% zinc, for a gold-equivalent grade of 8.56 g/t. The inferred category shows 1.82% lead and 2.72% zinc, for 6.76 g/t gold-equivalent.

Footwall zone

  • inferred: 363,000 tonnes averaging 3.65 g/t gold and 25.4 g/t silver for 42,500 ounces gold and 296,000 ounces silver

With 0.55% lead and 0.51% zinc, the gold-equivalent grade comes to 4.49 g/t.

Yellowjacket zone

  • indicated: 1 million tonnes averaging 0.21 g/t gold and 64.1 g/t silver for 6,900 ounces gold and 2.07 million ounces silver

  • inferred: 35,000 tonnes averaging 0.35 g/t gold and 81.9 g/t silver for 400 ounces gold and 91,000 ounces silver

The indicated category also showed 2.77% lead and 9.08% zinc, while base metals inferred grades came to 3.18% lead and 6.26% zinc.

The mineralized zones have been drilled up to 1.5 kilometres along strike and as much as 850 metres down-dip, remaining open.

A three-option agreement outlines several steps of cash payments and share issues to the vendor, as well as spending and work requirements to earn an initial 51% interest and subsequently full ownership of the project.

Golden Dawn Minerals adds another gold-silver property to its portfolio of advanced B.C. assets

Underground rehab readies the
Lexington past-producer for trial mining.

Golden Dawn plans to update the 2012 PEA and, given positive results, conduct further work including underground drilling, decline and drift development and metallurgical tests to move towards pre-feasibility.

Meanwhile work continues at the Greenwood camp 500 kilometres east of Vancouver, where Golden Dawn hopes to re-start a number of former mines within 15 to 20 kilometres’ radius of the company’s 212-tpd mill. Earlier this month Golden Dawn released another batch of gold-copper assays from the Golden Crown past-producer. The nearby Lexington gold-copper past-producer has dewatering and underground rehab underway, part of a plan to begin trial mining. Given the infrastructure in place, Golden Dawn proposes to re-start the former mines without de-risking at the feasibility level.

The company also announced three personnel additions this month. Geological consultant Peter Cooper’s 41-year career includes work as chief geologist and operations manager for Kinross Gold’s (TSX:K) Kettle River operations, about 40 kilometres south of the Greenwood camp. He’s helped put three gold mines into operation, including Kinross’ Buckhorn mine, 20 kilometres from Lexington.

Another consulting geologist, Serguei Soloviev has worked on a number of B.C. and Yukon gold and copper projects as well as serving as Rio Tinto Exploration’s chief geologist for Russian operations from 2010 to 2016. Soloviev has written over 50 technical papers for peer-reviewed journals.

Diana Mark joins the team as VP of corporate affairs. With over 25 years’ experience in corporate and regulatory compliance, she’s been providing consulting services to the company since January.

In September Golden Dawn closed private placements totalling $2.3 million, followed by another $2.36 million last month.

Read more about Golden Dawn Minerals.

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.

Rockcliff Metals boosts its Talbot copper-polymetallic resource in Manitoba

December 8th, 2017

by Greg Klein | December 8, 2017

Among a number of active projects in the company’s Snow Lake portfolio, the Talbot deposit stands out as Rockcliff Metals’ (TSXV:RCLF) flagship. Now an updated resource has the company increasingly enthused while work continues towards further expansion.

The first update since January 2016 for the 51%-optioned property increases tonnage and contained amounts for an inferred category showing:

  • 4.23 million tonnes averaging 1.61% copper, 1.4% zinc, 1.77 g/t gold and 27.96 g/t silver for 150 million pounds copper, 130.4 million pounds zinc, 241,000 ounces gold and 3.8 million ounces silver
Rockcliff Metals boosts its Talbot copper-polymetallic resource in Manitoba

Based on 84 holes totalling 44,800 metres, the estimate uses a copper-equivalent cutoff of 2%. The copper-equivalent grade comes to 3.4%.

“The deposit remains open in all directions and is robust and predictable in all aspects including the geology, the estimation, classification and reporting assumptions,” said president/CEO Ken Lapierre. “Last year’s geophysics indicated significant upside potential to discover more VMS (copper, gold, zinc, silver) mineralization at the West Talbot deep conductive plate. Our present geophysical survey will focus on this large untested one-kilometre-by-one-kilometre anomaly, located immediately below and in the footwall of the deposit.”

Talbot has more drilling planned for 2018.

Featuring both gold and VMS projects, Rockcliff’s Snow Lake portfolio hosts five gold properties, two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. All sit within trucking distance of two Hudbay Minerals TSX:HBM processing plants.

Reporting on the Laguna gold project last week, Rockcliff announced geophysics had located 17 high-priority anomalies, while winter plans include more surveying. A fall drill program at the Bur zinc-copper project had around 3,000 metres scheduled to upgrade the historic resource.

Read more about Rockcliff Metals here and here.

More news from Rockcliff Metals as geophysics heightens interest in former Manitoba gold mine

November 30th, 2017

by Greg Klein | November 30, 2017

Just two days after announcing an adjacent acquisition, Rockcliff Metals TSXV:RCLF reported 17 high-priority geophysical anomalies on its Laguna gold project, one of several gold and VMS properties in the company’s Flin Flon-Snow Lake portfolio. The latest news comes from 40.5 kilometres of induced polarization and resistivity over the Laguna gold mine trend. Described as a five-by-one-kilometre gold-rich, sulphide-bearing quartz vein environment, the trend hosts a former mine that averaged about 19 g/t during intermittent operation between 1916 and 1939, producing over 60,000 ounces.

More news from Rockcliff Metals as geophysics heightens interest in former Manitoba gold mine

The survey’s tight spacing “allowed excellent surface resolution and superior depth penetration up to 250 metres vertical,” Rockcliff stated. The 17 anomalies “were strategically located mostly below and along strike of known gold-bearing sulphide-rich quartz veins and are all considered worthy of follow-up exploration,” the company added.

Winter plans call for more IP and resistivity along strike and in the footwall of the trend.

Noting that grab sample assays from the area ranged from trace to over 620 g/t, president/CEO Ken Lapierre said, “The Laguna gold mine trend was last drilled in 1944 and now definition of these new untested gold targets is a testament to the excellent untested gold potential at Laguna.”

Covering over 45,000 hectares in central Manitoba, Rockcliff’s Snow Lake portfolio includes five gold projects, two copper-polymetallic deposits with resource estimates, three zinc deposits with historic, non-43-101 estimates, and a non-core zinc project recently optioned to Nevada Zinc TSXV:NZN. The properties all sit within trucking distance of two Hudbay Minerals TSX:HBM processing facilities.

Rockcliff’s Bur zinc-copper deposit currently has drilling underway for about 15 holes totalling 3,000 metres, while the company’s 51%-optioned Talbot copper-zinc-polymetallic property has a resource update in progress.

Read more about Rockcliff Metals here and here.

Mountain Boy/Jayden hit 8.63 g/t over 7.72 metres in new Golden Triangle gold zone

November 28th, 2017

by Greg Klein | November 28, 2017

Strong assays from a previously unexplored area 550 metres northeast of the Silver Coin deposit indicate a new gold zone on the northwestern British Columbia property, according to the JV partners. With 80% and 20% interests respectively, Jayden Resources TSXV:JDN and Mountain Boy Minerals TSXV:MTB announced the discovery from a recently completed 14-hole, 2,226-metre program.

Highlights from five holes released November 28 include:

Mountain Boy/Jayden hit 8.63 g/t over 7.72 metres in new Golden Triangle gold zone

Magnificent scenery doesn’t distract attention
from high-grade gold at Silver Coin.

Hole SC17-444

  • 8.08 g/t gold and 4.7 g/t silver over 2 metres, starting at 94.03 metres in downhole depth
  • (including 13.7 g/t gold and 5.91 g/t silver over 1 metre)

SC17-445

  • 5.12 g/t gold and 91.3 g/t silver over 3 metres, starting at 35 metres

  • 5.38 g/t gold and 17.07 g/t silver over 7.3 metres, starting at 146.2 metres
  • (including 6.21 g/t gold and 12.06 g/t silver over 5.37 metres)
  • (and including 15.5 g/t gold and 17.1 g/t silver over 1 metre)
  • (and including 10.7 g/t gold and 18 g/t silver over 0.5 metres)

SC17-446

  • 5.9 g/t gold and 45.32 g/t silver over 1.8 metres, starting at 103.6 metres
  • (including 8.62 g/t gold and 42.6 g/t silver over 0.8 metres)

  • 14.6 g/t gold and 52.5 g/t silver over 1 metre, starting at 131.2 metres

SC17-452

  • 8.63 g/t gold and 11.99 g/t silver over 7.72 metres, starting at 16.46 metres
  • (including 17.69 g/t gold and 23 g/t silver over 3.2 metres)

  • 4.86 g/t gold and 5.68 g/t silver over 2.5 metres, starting at 77.82 metres
  • (including 6.46 g/t gold and 6.22 g/t silver over 1.5 metres)

  • 8.25 g/t gold over 1 metre, starting at 88.97 metres

True widths were estimated between 60% and 80%. More assays are pending.

As for the main Silver Coin deposit, using a 2 g/t gold cutoff its 2013 resource shows an inferred category of 967,000 tonnes averaging 4.39 g/t gold, 18.98 g/t silver, 0.64% zinc, 0.25% lead and 0.04% copper.

The 1,470-hectare property hosts a zone of faulting and shearing with mineralization up to 300 metres wide and 2.5 kilometres long, the JV partners stated. They consider Silver Coin to share many characteristics with the former Silbak-Premier mine five kilometres south, which produced an estimated 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc.

Meanwhile Mountain Boy has been reporting high grades and visible gold from another Golden Triangle drill campaign, as the company’s 35%-held Red Cliff project advances towards its maiden resource.

A drill program on two contiguous Golden Triangle properties, Mountain Boy’s 100%-held BA and Surprise Creek silver-base metals projects, awaits analysis of results from an airborne VTEM and magnetic survey.

Having closed a $586,400 private placement in September, the company offered a $300,000 private placement last month.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

See an infographic about B.C.’s Golden Triangle.

Rockcliff Metals adds another gold property to its polymetallic package in Manitoba

November 28th, 2017

by Greg Klein | November 28, 2017

An “opportunist” acquisition increases the gold presence on Rockcliff Metals’ (TSXV:RCLF) Snow Lake portfolio. The 2,557-hectare Lucky Jack property borders the company’s Laguna project, host to a former mine and site of an airborne geophysical program last summer.

Limited exploration on Lucky Jack dates to the 1920s, when a shaft was reportedly sunk on a quartz vein system measuring about 1,000 metres long and up to 25 metres wide. Historic, non-43-101 results for 21 grab samples from the shaft area averaged 66 g/t gold.

Rockcliff Metals adds another gold property to its Manitoba gold/VMS package

Channel samples in 1982 showed non-43-101 assays including 11 g/t gold over 0.4 metres and 44.2 g/t over 1.4 metres, with gold values recorded over a 130-metre strike. Near-surface drilling in 1988 brought non-43-101 results of 8.9 g/t gold over one metre, 15.9 g/t over one metre, 19.6 g/t over 0.5 metres and 32.5 g/t over 0.5 metres.

About 1.7 kilometres west of the shaft, another near-surface hole sunk in 1985 brought non-43-101 intervals of 5.6 g/t gold over 0.3 metres, 11.5 g/t over 0.46 metres and 58.5 g/t over 0.4 metres. Samples taken about 5.5 kilometres northwest of the shaft brought non-43-101 assays up to 20.6 g/t gold.

Lucky Jack costs Rockcliff $77,250. Seven of the property’s 15 claims have a 2% NSR applicable, half of which Rockcliff may buy for $500,000 per 0.5%.

Although Rockcliff currently focuses on its VMS projects, Lucky Jack brings the company’s gold portfolio to five properties including Laguna, Dickstone North, Snow Lake and last month’s acquisition of Berry Creek.

The company’s Snow Lake package also includes two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. The properties all sit within trucking distance of two processing facilities owned by Hudbay Minerals TSX:HBM.

Following Phase II drilling on the 51%-optioned Talbot copper-zinc-polymetallic property, Rockcliff has a resource update underway. Drilling resumed this month on the Bur zinc-copper deposit, with a program of about 15 holes totalling 3,000 metres.

Read more about Rockcliff Metals here and here.

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.