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Belmont JV Partner Marquee Provides Exploration Update for Lone Star and Kibby Basin Projects
(TheNewswire) Vancouver, B.C. Canada – TheNewswire - July 26, 2022; Be...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont JV Partner Marquee Provides Exploration Update for Lone Star and Kibby Basin Projects\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. Canada –\n \n \n TheNewswire -\n \n \n July 26, 2022; Belmont\nResources Inc. (“Belmont”), (or the “Company”),\n(TSXV:BEA\n \n \n )\n \n \n ;\n \n \n (\n \n \n FSE:L3L2) is pleased to announce that\nBelmont’s JV partner Marquee Resources (ASX:MQR) (“Marquee”) has\nprovided an exploration update on the Lone Star Copper/Gold Project\nand the Kibby Basin Lithium Project\n \n \n .\n \n \n \n \n Lone Star Copper/Gold Project\n \n \n \n \n The Phase 1 drilling program has been completed at Lone\nStar which included 46 diamond drillholes for 7,888m (See BEA Release\n8 June 2022). The final batch of assays are expected to be received by\nthe Company shortly.\n \n \n \n \n The phase 1 drill program was designed to satisfy three\nkey objectives:\n \n \n \n \n \n \n Validate the historical drill hole database and\nresource model;\n \n \n \n \n \n \n Deliver a JORC/43-101 compliant mineral resource\nestimate; and\n \n \n \n \n \n \n Test for extensions to the historical\nresource.\n \n \n \n \n \n \n Mining Plus Pty Ltd have continued resource modelling\nstudies and post their site visit they await the receipt of the final\noutstanding assays as they work towards delivering a JORC/43-101\ncompliant resource in Q3 of 2022.\n \n \n \n \n Kibby Basin Lithium Project\n \n \n \n \n Drilling at the Kibby Basin Lithium Project has been\nextremely slow and frustrating to date. Despite casing the hole\n(KB22-01) to 1,060ft, the playa sediments have made drilling with the\ncurrent Aircore drill rig too difficult to continue. A decision has\nbeen made in conjunction with our drill operator Drill NV to switch\nout to a more conventional Core drill rig to complete the remainder of\nhole one as well as the next two holes planned for this program. A new\ncontract has been entered into with Drill NV and despite the loss of\ntime on hole one (KB22-01), the cost of the overall program is\nunchanged from MQR’s initial budget.\n \n \n \n \n The Three-hole (3,000m) programme is now expected to be\ncompleted by October 2022. Although this time delay has been\nfrustrating and quite time consuming, the overall potenti...