Business
Belmont Provides Update on Lone Star Copper-Gold Project
(TheNewswire) Vancouver, B.C. Canada - TheNewswire - November 10, 202...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Provides Update on Lone Star Copper-Gold Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. Canada -\n \n \n TheNewswire -\n \n \n November 10, 2021 -\nBelmont Resources Inc. (“Belmont”), (or the “Company”),\n(TSXV:BEA\n \n \n ) (\n \n \n FSE:L3L2)\n \n \n is pleased to provide an update on its\npreparation for its upcoming drill program.\n \n \n \n \n Option/JV\n \n \n \n \n Belmont recently signed an option/JV agreement with\nMarquee Resources (ASX:MQR) (see NR Nov.4, 2021) whereby Marquee\nagrees to commit the following:\n \n \n \n \n \n \n - $504,000 cash payments\n \n \n \n \n - $2,550,000 Work Program\n \n \n \n \n - 3,000,000 MQR Shares\n \n \n \n \n - Produce a Preliminary Economic Assessment on the\nproject\n \n \n \n \n - Over a 24 month term\n \n \n \n \n - For 80% ownership of the Lone Star project.\n \n \n \n \n - Upon completion, a joint venture is to be formed and\na decision will be made in regards to bringing the Lone Star into\nproduction.\n \n \n \n \n \n \n Drilling\n \n \n \n \n A ~5,000 meter drill program is scheduled to start\nNovember 15, 2021 and is planned to:\n \n \n \n \n a) Confirm grade, width and tenor of\nmineralisation\n \n \n \n \n b) Infill the shallow historic inferred\nresource with a view to bring into the indicated category\n \n \n \n \n c) Test for nearby resource\nextensions to the east and south.\n \n Falcon Drilling from Carson City, Nevada is the drill contractor and\nconfirms November 15, 2021 start date.\n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n \n On Site Buildings\n \n \n \n \n 2 - 40 foot shipping containers have now been\ntransported to the Lone Star property. The containers will be used for\non site drill core cutting, logging and storage. All heavy equipment\nsupport is provided by Stotts Construction located only 15kms south in\nthe community of Curlew Washington.\n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n \n Drill Pad Preparations\n \n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n Drill pads are being cleared and prepared for\ndrilling.\n \n \n \n \n LIDAR Survey\n \n \n \n \n A Lidar survey was flown by Pioneer Exploration over\nthe property on November 5, 2021. Light Detection and Ranging (LIDAR)\nis a technology used ...