2020; George Sookochoff, CEO/President of Belmont Resources Inc
`
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 600 - 625 Howe Street,
Vancouver, B.C. V6C 2T6
Ph: 604-683-6648
BEA TSX.V
Belmont Prepares 2020 Exploration Program on Come By Chance Property.
Vancouver, B.C. Canada, July 2, 2020; George Sookochoff, CEO/President of Belmont Resources Inc
(TSX.V: BEA; Frankfurt: L3L2) (“Belmont”), (or the “Company”) is pleased to announce the start of its
2020 exploration program on its recently acquired “Come By Chance” (CBC) property located in the
Phoenix mining camp of southern British Columbia.
About the Come By Chance (CBC) Property
Belmont acquired the CBC property in May, 2020. The acquisition is part of
the Company’s continued focus to acquire and develop strategic gold
properties in the prolific Phoenix mining camp of Southern British Columbia.
The CBC property is comprised of 21 mineral claims as well as 15 reverted
crown granted mineral claims covering an area of approximately 527
hectares (ha). The property lies directly south east of the Athelstan-Jackpot
(A-J) property which was acquired by Belmont in May 2020 (NR May 23,
2020).
The properties lay either side of Highway #3 with a powerline running
through both properties.
Both the A-J and CBC properties are situated on a south-east mineralized trend extending from the past
producing Phoenix mine 3 kms to the north-west. Belmont’s Black Bear and Pride of the West claims
(acquired Nov. 2019) lie on this mineralized trend as well.
CBC Conceptual Model
The Come By Chance Property has many surficial
geological features which are indicative of a
copper-gold porphyry system originating from a
potential concealed intrusive.
These features, primarily associated with two
major breccia-bearing fault systems, the Lind
Creek Fault and the Eagle Creek Fault, include
reported copper/silver/gold bearing skarn zones,
gold bearing massive sulphide veins, and gold
bearing epithermal quartz veining, all of which are
associated with a porphyritic intrusive in a
conceptual model of mineral zones in a volcanic
environment. The reported presence of a well
mineralized copper-bearing monzonite may
substantiate the basis for these mineral zones of
the copper/gold porphyry system.
NEWS RELEASE
July 2, 2020
Conceptual Model
`
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 600 - 625 Howe Street,
Vancouver, B.C. V6C 2T6
Ph: 604-683-6648
BEA TSX.V
2020 Exploration Program
Airborne Imagery Survey
A property wide low level, high-resolution imagery airborne survey is being planned for July. The survey
will provide very-fine resolution geo-referenced elevation and photographic data that will be very useful for
accurately locating and detail mapping old shafts, mine dumps, showings and rock exposures over the
entire property. The elevation data will be used to create an accurate 3 Dimensional Digital Terrane Model
(3D-DTM) of the entire property. The hi-res image mapping will be overlaid onto the 3D-DTM and will
provide an important base map for all future exploration data.
IP Survey
The Company is making preparations for a “Deep Penetration” IP survey consisting of two 400m spaced
IP lines crossing the entire property. The IP lines will cover the two major breccia-bearing fault systems,
the Lind Creek Fault and the Eagle Creek Fault and the well mineralized copper-bearing monzonite. The
Deep Penetration IP survey will help substantiate the possible presence of a porphyry system originating
from a potential concealed intrusive model.
Field Program
The CBC property has not been systematically explored.
The majority of the early work was at the Betts showing
(Minfile 082ESE261), in the southern part of the CBC
property. The Minister of Mines Annual Report for 1904
and 1905 documents some 208 feet of open cuts and
shallow shafts at the Betts, as well as a 75 foot long
(upper) tunnel with a 40 foot winze and an 825 foot
(lower) tunnel. This lower tunnel was driven to cut the
mineralized zone 375 feet below surface. A chute of
massive pyrrhotite ore was reportedly intersected at a
distance of 575 feet in the lower tunnel.
With numerous historical workings consisting of pits and
adits throughout the property, the Company is preparing a
field program to sample material from these locations to
determine whether they are skarn, massive sulphide
veins or epithermal quartz veining in nature. This
geological categorization will help in determining the
nature and scope of the potential porphyry system lying
beneath.
George Sookochoff, President & CEO commented “Early indications are that the Come By Chance
property provides a huge potential for a large mineralized porphyry system containing a broad spectrum of
mineralization types including copper/silver/gold bearing skarn zones, gold bearing massive sulphide
veins, and gold bearing epithermal quartz veining. Our 2020 exploration program is designed to acquire
further evidence to substantiate the presence of this system.”
`
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 600 - 625 Howe Street,
Vancouver, B.C. V6C 2T6
Ph: 604-683-6648
BEA TSX.V
Qualified Person
The scientific and technical information that forms the basis for parts of this press release was prepared
and/or reviewed by Laurence Sookochoff, P.Eng., who is a Qualified Person “(QP”) as defined by National
Instrument 43-101
The Qualified Person has not verified the data disclosed, through sampling, analytical, nor test data. The
information was obtained from assessment reports submitted to the B.C. Government, and publicly
available company reports.
The Qualified Person has not completed sufficient work to verify the historic information on the Property,
About Belmont Resources Inc.
Belmont Resources Inc. is a Canadian based resource company traded on the TSX-V under the symbol
“BEA”. The Company is systematically evaluating and acquiring gold properties in Southern British
Columbia and Northern Washington State.
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
George Sookochoff, CEO/President
Ph: 604-683-6648
Email: [email protected]
Website: www.BelmontResources.com
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as the term is defined in the policies of the TSX Ventu re
Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on
assumptions and judgments of management regarding future events o r r e s u l t s t h a t m a y p r o v e t o b e i n a c c u r a t e a s a r e s u l t o f
exploration and other risk factors beyond its control. Forward looking statements in this news release include statements abo ut
the possible raising of capital and exploration of our properti es. Actual events or results c ould differ mate rially from the
Companies forward-looking statements and expectations. These risks and uncertainties in clude, among other things, that
we may not be able to obtain regulatory approval; that we may n ot be able to raise funds required, that conditions to
closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2020, and other
risks associated with being a mine ral exploration and developme nt company. These forward-looking statements are made
as of the date of this news rel ease and, except as required by applicable laws, the Company assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-loo king
statements.