Belmont Provides A-J Gold Project Drilling Update
Belmont Provides A-J Gold Project Drilling Update
• Drill results received for South Zone drill holes A-J23 06-09.
• Strong mineralization from Athelstan gold mine area drilling indicates peripheral alteration zone
to a potential deep-seated copper-gold porphyry.
• New vectors point to Jackpot gold mine and the major Jackpot fault areas.
January 26, 2024 -Vancouver, B.C., Canada; Belmont Resources Ltd. (“Belmont” or the “Company”) (TSX.V:
BEA; FSE: L3L2) announces initial results of the A -J 2023 2,000 meter, nine drill hole A -J drilling program
in southern British Columbia.
2023 Drilling focused on two zones on the property.
North Zone: (Drill holes AJ23 -01-05) d rilling involved exploring largely untested, open ground in the
northern portion of the property where targets were chosen between the Golden Crown and Athestan -
Jackpot mines. Drill assays are pending.
South Zone – Athelstan mine area: (Drill holes AJ23-06-09) drilling involved testing for potential
mineralized feeder systems along and directly beneath the Athelstan mine, one of two historic gold
mines on the A-J 1.5km mineralized gold trend and related historic mine workings.
Initial results have been received for South Zone, Athelstan mine area for drill holes AJ23-06 – AJ23-09.
As reported in previous news releases dated October 31 and November 16, 2023, all four drill holes (AJ23-
06, AJ23-07, AJ23-08, and AJ23-09) beneath the Athelstan gold mine intercepted over 100 meter duration
of extensive silicic and phyllic alteration accompanied by widespread sulphide mineralization. These zones
included multi-metre quartz shear and stockwork style vein intersections with all lithologies hosting
widespread pyrrhotite and pyrite and lesser chalcopyrite and arsenopyrite.
NEWS RELEASE
January 26, 2024
A-J 2023 drill plan over geophysics
2
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
Although long grades of gold mineralization were intercepted (up to 150m) the grades were minimal with
only two gold intercepts of note:
AJ23-07 from 28m: 3.8 meters @ 0.4 g/t Au including 1.9m @ 0.60 g/t Au
AJ23-08: from 26m depth: 1.1 meters @ 1.1 g/t Au
The long grades of gold mineralization albeit low grade, correlates in most part with the extensive quartz
veining, semi-massive pyrite, pyrrhotite, and sulphides along with intensely phyllic alteration as reported
in previous news releases dated October 31 and November 16, 2023.
A-J South Zone mineralized gold trend and 2023 drill holes.
A-J Drill Sections beneath the Athlestan mine
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
This is a strong indication of a “peripheral alteration zone to a deep -seated copper-gold porphyry”. The
surficial gold along the mineralized trend of the south zone and even the low gold mineralization in the
drill core is interpreted as major structural seepage from this porphyry. This major structure may refer to
the Jackpot fault which may be providing a conduit for hydrothermal mineralized fluids to travel from the
porphyry to the surface.
As for a deep seated porphyry model, one model suggests that there may be in fact linkage between the
A-J property and Belmont’s nearby CBC property where exploration is also targeting a large copper-gold
porphyry system at depth.
DH AJ23-07 Extensive quartz vein stockwork intersection, sheared and brecciated with pyrrhotite
and pyrite stringers, chalcopyrite
DH AJ23-07 Abundant brittle fracturing and pyrrhotite mineralization in intensely silicic altered
plutonic host rock
A-J may be linked to the nearby CBC property
4
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
George Sookochoff, President & CEO Belmont Resources commented “While the Athelstan zone may
serve as the feeder system for the 7,000 ounces of gold mined from the 2 gold mines as well as an
estimated resource of 2,000-5,000 ounces of gold in the surface and near surface mineralized areas,
based on previous trenching results and sampling of mine dumps (2002 Summary Report on the A-J
Group, Greenwood Mining Division by R.E. Miller B.Eng. Sci., P.Geo February 2002), the presence of
extensive quartz veining, semi-massive pyrite, pyrrhotite, and sulphides, coupled with intensely phyllic
alteration, strongly indicates our proximity to the target.”
“Our updated database provides exploration vectors pointing eastward, specifically towards the Jackpot
gold mine and the Jackpot fault which is where we will focus our 2024 drill program.”
2024 Drilling Program
Drilling of the Jackpot mine and Jackpot Fault zones area planned for Q2 2024. As the deepest South Zone
2023 drill hole was only 2 45 meters, proposed 2024 drill holes will extend down to approximately 300 -
500 meters in order to intersect the porphyry at depth or to locate the surficial mineral feeder zones
beneath the Jackpot mine and along the Jackpot fault.
2024 Planned Drilling Along Jackpot Fault – Section ‘A1’
2024 Planned Drilling Along Jackpot Fault – Section ‘A2’
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
North Zone Drill Results Pending
Further results from the remaining North Zone drilling (DH AJ23-01 – 05) have yet to be received and
will be announced upon receipt.
About Belmont Resources
Belmont Resources has assembled a portfolio of highly prospective copper , gold, lithium, uranium and rare earths
projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:
• Athelstan-Jackpot (A-J): 2 former gold mines. 2,000m drilling targeting multi-coincident geophysical
anomaly on strike with neighboring gold trend and gold mines completed.
• Crackingstone Uranium-Rare Earths: Some of the highest grade Rare Earth Elements (REE’s) are being
discovered in Northern Saskatchewan due to the presence of Uranium, Thorium & Pegmatites.
Crackingstone project meets the criteria for potentially discovering a large REE’s deposit with its h igh
grade uranium along with thorium and pegmatite. A review of 3,000m of 2008 drill data shows a 1.3km
pegmatite dyke drilled but only assayed for uranium at that time. 2023 plans are to re -assay pegmatite
sections for REE’s ;
• Come By Chance (CBC): 2021 geophysics delineated potential large copper-gold porphyry;
2022 drilling provided further vectors towards potential core of porphyry;
• The Lone Star Copper-Gold: optioned to Australian Marquee Resources ASX:MQR. MQR has spent in
excess of $2.5M in drilling, completed new resource in Dec. 2022, and is currently preparing a
Preliminary Economic Assessment in order to earn 80% interest.
• The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin:
Optioned 80% of the central Kibby Playa claim block to Australian Marquee Resources - MQR. MQR has
spent in excess of $2.5M in drilling in 2022 for potential deep seated lithium brine. 2022 Drilling
confirmed high levels of lithium-bearing sediments along with dissolved lithium in the groundwater.
North Zone on strike with adjacent Golden Crown Mine – Assays Pending
6
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
NI 43-101 Disclosure:
The technical information in this news release has been prepared in accordance with Canadian regulatory
requirements as set out in National Instrument 43-101 and has been reviewed and approved by Laurence
Sookochoff, P.Eng.
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
George Sookochoff, CEO/President
www.belmontresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the
policies of the TSX Venture 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 or results that may prove to be
inaccurate as a result of exploration and other risk factors beyond its control. Actual events or results could differ
materially from the Companies forward-looking statements and expectations. These risks and uncertainties include,
among other things, that we may not be able to obtain regulatory approval; that we may not 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 2023, and other risks associated with being a mineral exploration and development company.
These forward-looking statements are made as of the date of this news release 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-looking statements.