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Belmont Resources Signs LOI to Acquire Athelstan-Jackpot Crown Grants In the Greenwood Gold Camp, B.C.
VANCOUVER, BC / ACCESSWIRE / February 24, 2020 / Belmont Resources Inc (TSXV:BEA) ("Belmont"), (or the "Company") is pleased to announce that it has entered int
About this update from Belmont Resources Inc.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / February 24, 2020 / Belmont Resources Inc (TSXV:BEA) (\"Belmont\"), (or the \"Company\") is pleased to announce that it has entered into a Letter of Intent (\"LOI\") with Forty Ninth Ventures Ltd. (the \"Vendor\") whereby Belmont and the Vendor will finalize the terms of a definitive purchase agreement (the \"Purchase Agreement\") that will provide Belmont with an option to acquire a 100% interest in the Vendor's right, title and interest in and to the Crown Granted Claims known as the \"Athelstan-Jackpot Property\", located in the Greenwood Mining Division, British Columbia. The proposed Athelstan-Jackpot acquisition part of the Company's continued focus to acquire and develop strategic gold properties in the prolific Greenwood mining district. Background: In adjacent Republic District of northern Washington State, Kinross Gold developed newly recognized metallogenic models, which resulted in the discovery and subsequent mining of several epithermal gold deposits. In excess of 2.5 million ounces gold have been produced from epithermal gold veins in this region. A similar geologic regime to that of the Republic district is present in the Greenwood area. Whereas previous exploration and development had primarily focused on Skarn type copper-gold deposits, comparatively little exploration has targeted epithermal type gold deposits. Mr. George Sookochoff who recently became President & CEO Belmont Resources and is a GIS database specialist, has over the years digitally compiled geological, geochemical, geophysical and other analytical data from the Greenwood Camp dating back to the late 1800's into a single seamless GIS digital database. Belmont is utilizing this extensive GIS database to assess the probability of occurrences of undiscovered epithermal gold deposits in the Greenwood Camp by analyzing the geological patterns of epithermal gold deposits in Washington State and looking for comparative characteristic in the Greenwood camp GIS database. The Athelstan-Jackpot properties, as well as the other recently acquired properties by Belmont, have been selected based on in part this comparative analysis process. View Republic District Mines Map About The Athelstan-Jackpot Property: The Athelstan-Jackpot property is located 8km west of Grand Forks B.C. and approximately 3kms south east of the former...