Belmont 3DIP Survey Identifies Strong Chargeability-Resistivity
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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 3DIP Survey Identifies Strong Chargeability-Resistivity
Anomalies Beneath Athelstan and Jackpot Gold Mines
Vancouver, B.C. Canada, November 19, 2020; Belmont Resources Ltd. is pleased to announce that
results from the recently completed Volterra 3D-IP survey on the company’s A-J gold property have been
received and interpreted. These results have identified several strong anomalies that are slated for drill
testing.
During 2020, the company acquired the A-J project, compiled
historic data, and carried out systematic exploration to
advance the project to its current drill-ready stage. A Lidar
survey was flown, as well as a drone-based magnetic survey,
before conducting the recent 3DIP survey. The IP survey
consisted of 100 m spaced lines ranging from 600 – 900 m in
length which straddled the zones of known mineralization on
the property. The results from detailed geological mapping
on the property and the recently completed drone magnetic
survey and Lidar data have been used to interpret the 3DIP
results and to identify and prioritize targets for drilling in late
2020 or early 2021.
The important 1 km long by 200 m wide zone of listwanite,
which hosts all of the known zones of gold mineralization on
the property, is defined by a strong resistivity anomaly. The
resistivity high anomaly is interpreted as representing silica
altered rock which includes quartz veining and listwanite.
The resistivity anomaly is underlain at depth by a strong
chargeability anomaly, measuring 800 x 1000 m and lies
approximately 300m below the A-J mineralized trend and
Athelstan and Jackpot mines which collectively produced
7,000 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The A-J
Mine Group was one of the most productive gold mines in
the area.
On surface, disseminated sulfides occur within dykes and
tongues of altered porphyritic intrusive that both cut and
underlie the north-dipping band of listwanite. The large
chargeability anomaly may reflect important mineralization
within a large intrusive body and could be the causative
source of mineralization at surface.
Historic diamond drilling on the A-J property (1981, 1987, 1991) were primarily very shallow holes. The
chargeability anomaly is untested by previous drilling on the property, as are the high-priority portions of
the resistivity anomaly.
NEWS RELEASE
November 19, 2020
A-J Trend 3DIP Resistivity Cross Section
A-J Trend Chargeability Cross Section
A-J Mines & Mineralized Trends
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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
Consulting Geologist Linda Caron, M.Sc., P.Eng, commented "I am so pleased with the systematic
exploration work that Belmont is conducting on the A-J property and how this new information is aiding in
our interpretation of gold mineralization on the project. There are many historic exploration pits and
workings exposed on surface, but historical exploration on the property has failed to trace this
mineralization to depth. Belmont's IP survey has now identified a strong chargeability anomaly, at depth
below the surface mineralization. This area has not been previously drilled, and may indicate the larger
source body of mineralization that we're searching for."
Consulting Geophysicist Sergio Espinosa, Ph.D., P.Geo, commented "What is notable are the coinciding
and relatively high anomalous values of both resistivity and chargeability. These anomalies appear to be
related to favourable geological conditions making them very compelling drill targets for an upcoming drill
program."
George Sookochoff, President & CEO commented “2020 has been a very busy year for the Belmont team.
I am extremely pleased with the amount work we have accomplished in a very short period of time. With
each exploration program we have gained more confidence that our upcoming drill program will be
successful in delineating the source of the extensive gold mineralization at surface”.
The Company is awaiting approval of a 5-year area-based drill permit application.
Listwanite
Known gold mineralization on the property is primarily hosted within listwanite. High-grade, coarse native
lode gold in the North American Cordillera is characteristically found in quartz veins hosted by listwanite-
altered, igneous ophiolitic crustal rocks in proximity to listwanite-altered ultramafic rocks.
Listwanite is directly associated with several multi-million ounce gold deposits in Atlin, Bralorne
and Barkerville districts of British Columbia as well as the Motherlode Gold District in California.
About Belmont Resources Inc.
Belmont Resources is a junior mining company engaged in the business of
acquiring past producing gold-copper mineral properties located in the highly
prospective Greenwood-Republic mining camps. Belmont is utilizing new
exploration technology as well as new geological modelling to identify gold-
copper mineralized feeder systems to the relatively shallow historic mines.
The Company’s project portfolio includes:
- Athelstan & Jackpot Gold mines (Athelstan-Jackpot property - 100%)
- Bertha & Pathfinder Gold-Silver mines (Pathfinder property - 100%).
- Betts Copper-Gold mine (Come By Chance property - 100%)
- Lone Star Copper-Gold mine (Lone Star Property - LOI)
Qualified Person
Linda Caron, M.Sc., P.Eng. is the qualified person under National Instrument 43-101 who as reviewed and
approved the technical content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
George Sookochoff, CEO/President
Belmont Property Map
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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
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.