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Belmont Re-Commences Drilling at Kibby Basin Lithium Brine Project, Nevada; Adds Two New Directors
VANCOUVER, BC / ACCESSWIRE / December 18 , 2018 / (" Belmont Resources Inc. ("Belmont" or ...
About this update from Belmont Resources Inc.
[{"type":"text","content":"Belmont Re-Commences Drilling at Kibby Basin Lithium Brine Project, Nevada; Adds Two New DirectorsVANCOUVER, BC / ACCESSWIRE / December 18, 2018 / (\"Belmont Resources Inc. (\"Belmont\" or the \"Company\") (TSX.V:BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403).Kibby Basin – Drilling KB-4 Commences Belmont is pleasedto announce drilling has re-commenced at the Kibby Basin Lithium Brine project withMGX Minerals Inc. (CSE: XMG) in Nevada.HoleKB-4 has a targeted depth of 300 meters into the lakebed sediments.The hole targets a potential fault as interpretedfrom the geophysical survey data, which looks deep into the sub-surface layers.Previous drilling has shown consistent lithiumin clay mineralization 1200-1700 feet up to 580 ppm Li and moderate lithium mineralizationat shallow depths to 300 feet up to 100 ppm Li.Geophysical and geological interpretation has indicated potential geothermalactivity may have brought concentrations of dissolved minerals close to the surface.The drill hole KB-4 is in the center of the measured gravity low targeting the centerof the anomaly on the interpreted fault.Figure 1. Drill Hole LocationsFigure 2 KB-4 Locationas \"A\" on MT Survey (depth to top and bottom of conductor shown) Figure 3 MT Section of KB-4 as\"A\", showing fault offset of MT conductor NI 43-101 DisclosureRobert (\"Bob\") G.Cuffney, Certified Professional Geologist, a Qualified Person as defined by NationalInstrument 43-101, has reviewed and approved the above technical information inthis news release.Jared Lazerson joins the Board of DirectorsBelmont welcomesJared Lazerson to the Board. Mr. Lazerson is CEO and Director of MGX Minerals Inc.(CSE:XMG). Mr. Lazerson represents MGX Minerals interest on the Belmont Board.MGX currently owns 4 million shares of Belmontwith 4 million two year warrants at 8 cents in the first year and 10 cents in thesecond year; and has the right to acquire up to 10 million shares of Belmont at20 cents for 3 years.Mr. Lazerson startedMGX in 2014 and has overseen the growth of the Company that now includes multipleindustrial technology subsidiaries including rapid lithium extraction technologyand battery mass storage, with current mineral exploration operations in four countries.MGX was the winner of the 2018 Standard &Poor's Global Platts Metals Global Award for Leadership in Base and Specialty...