Business
Belmont Announces Non-Binding LOI with Pan Andean Minerals Ltd. to Acquire Belmont Lithium Project Interest
(TheNewswire) Vancouver, B.C. Canada - TheNewswire - March 1, 202...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Announces Non-Binding LOI with Pan Andean Minerals Ltd. to Acquire Belmont Lithium Project Interest\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. Canada -\n \n \n TheNewswire -\n \n \n March 1, 2021 - Belmont\nResources Inc. (“Belmont”), (or the “Company”),\n(TSXV:BEA\n \n \n ) (\n \n \n FSE:L3L2) is\npleased to announce it has entered into a non-binding Letter of Intent\n(“LOI”) agreement with Pan Andean Minerals Ltd. (TSXV: PAD)\n(“Pan Andean”) to acquire a 25% interest in the “A Block” of\nthe Kibby Basin Lithium Project (the “Kibby Lithium Property”).\n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n \n \n \n Belmont is the owner of the property known as the A\nBlock, located 65 km north of Clayton Valley, Nevada, U.S.A. (2,971\nacres, 1,202 ha) claim block.\n \n \n \n \n The Kibby Lithium Property is approximately halfway\nbetween Las Vegas and Reno and located 65 km north of Clayton Valley\nBasin with Albemarle Corporation’s lithium brine producing\noperations (Silver Peak Mine). Analyzing geophysical and drilling\ndata, Belmont believes there is great potential for both brine and\nclay lithium in the Kibby Basin.\n \n \n \n \n George Sookochoff, President & CEO commented\n“Belmont is very pleased to have an up and coming anode materials\nsupplier to the electric vehicle industry join us in the development\nof our Kibby Lithium Project in Nevada.  Pan Andean has assembled a\nvery impressive board of directors with close connection to lithium\nion battery industry. Mr Sung Rock Hwang with over 30 years experience\nwith Samsung SDI and Dr. Jong Hyeok Park who served as Senior\nResearcher for LG Chem, currently the largest lithium-ion battery\nmanufacturer in the world.”\n \n \n \n \n This non-binding LOI allows for a 15-day period which\nPan Andean will perform due diligence on the “A Block.”\n \n \n \n \n About Pan Andean Minerals\nLtd\n \n \n .\n \n \n \n \n Pan Andean Minerals Ltd. is Vancouver-based junior\nresource company focused on battery metals exploration in North\nAmerica. The Company has staked new mining claims in Golden, BC, along\na strike with a quartzite bed, targeting silica in the quartzites for\na total of 467 hectares. Th...