Vancouver, B.C. Canada –
TheNewswire -
April 12, 2021; Belmont
Resources Ltd. (“Belmont”), (or the “Company”),
(TSXV:BEA
)
;
(
FSE: L3L2) is pleased to announce
plans for a 2,500 meter drill program at its 100% owned
Althelstan-Jackpot (A-J) gold project in southern British Columbia.
Drilling will target of a multi coincident geophysical
anomaly overlain by diorite (intrusive?) and listwanite situated in
the North Zone of the property.
The Jackpot fault directly intersects this anomalous
zone providing a conduit for the hydrothermal fluids and subsequent
precipitation of gold mineralization.
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AJ Magnetic Low, Chargeability
High, Resistivity High coincident anomaly intersected by Jackpot
fault
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AJ Magnetic and IP Vertical
Sections and Proposed Drilling
A-J North Zone
Listwanite and Gold
Mineralization
Listwanite
(carbonated serpentinite) is a term to describe the silica-carbonate
alteration of
serpentinite
and is commonly associated with
high-grade lode-gold mineralization.
The Mother Lode gold district in California and the
Abitibi greenstone belt of the Superior Province of Canada are two of
the most well-known examples of listwanite-associated lode-gold in
North America. In general, the richest gold grades within these
deposits are associated with, or in close proximity to
carbonate-altered ultramafic rocks (Listwanite). Listwanite is also
directly associated with several multi-million ounce gold deposits in
British Columbia; Atlin, Bralorne and Barkerville.
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Listwanite and Serpentinite
During the serpentinization process any gold present in
the serpentine may be assimilated with secondary sulfides and/or
magnetite and could be indicative by the magnetic anomalies within the
property."
These opaque minerals (magnetite) are subsequently
destroyed in talc-carbonate alteration zones (magnetic low features),
which results in gold being released from the serpentinite wall rocks
and transported in solution. The gold and silica-rich fluids are
transported to higher crustal levels via faults where the change in
conditions (lower temperature, pH and ƒO2) results in the
precipitation of gold, quartz and sulfides.
All
of the historic production from the property, and the vast majority of
the previous exploration, has been directed at massive sulfide and
oxidized sulfide zones within listwanite.
Structurally Controlled and Diorite
Hosted Mineralization
The geologic favorability for a gold resource in the
North Zone area is not only related to listwanite mineralization
potentially gleaned from the serpentine but also from potential
concealed intrusives which are indicated by magnetic lows in the
center and north areas of the property and associated with the Jackpot
fault.
Areas mapped as “old diorite” may be diorite
intrusions which has undergone a higher degree of hydrothermal
alteration (mag low) than the adjacent serpentine (mag high). These
intrusions are also coincident with geophysical and magnetic anomalies
making for high priority drill targets.
A 1983 report by
J.S. Kermeen,
M.Sc, P.Eng stated “The most prevalent rock, at least on surface, on
the property is a serpentinite believed to be derived from an
ultramafic igneous rock (sill, flow or pyroclastic?)”
“The next most prevalent rock on the property is a
rock given a field classification of diorite which appear to be
intrusive with dikes of diorite composition cutting the
serpentinite.”
1
.
A second apparent diorite intrusion is in the northern
portion of the property. This diorite is also coincident with a strong
magnetic low suggesting hydrothermal activity. This area will be
further investigated for gold mineralization.
A-J South Zone
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Surface and Near Surface Bulk
Tonnage Gold Prospect
The A-J South Zone is a 1.0km mineralized gold trend
which includes the Athelstan and Jackpot past producing gold mines
which produced 7,600 ozs Au & 9,000 oz Ag (Minfile 082ESE047).
Along with the two former gold mines this trend
includes numerous trenches, pits and adits as well as mine waste
dumps. Sampling in this area has returned extensive high gold and
silver results. In particular sampling of the mine dumps have returned
grades as high as 1oz/ton gold and over 5 oz/ton silver.
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A 2002 Report by R.E. Miller, B.Eng., P.Geo states “A
potential resource of 2,000
‐
5,000 ounces of gold in the surface and near surface
mineralized areas appears to exist within the A
‐
J Group based on previous trenching
results and sampling of mine dumps. The identification of one to two
areas of ore have been identified having dimensions of 2.0 metres
thick, 15 metres in width and 90 metres in length with an average
grade of 0.3 opt gold.”
2
Belmont is planning to process the surface and near
surface gold material from the South Zone utilizing new and cost
effective methods of recovery of gold. Belmont sees this as an
excellent opportunity to generate cash flow to finance further
exploration on its projects while minimizing share dilution.
Sample gold material will be delivered to EnviroMetal
Technoligies in Burnaby, British Columbia for testing.
EnviroMetal’s unique formula offers a cost-effective
and eco-friendly alternative to the traditional use of cyanide and
smelting and is produced by combining safe FDA-approved ingredients
with water.
The leach process is quite simple and typically takes
only 2 to 24 hours and typically achieves over 96% recoveries. Gold is
recovered from the pregnant solution using conventional electrowinning
processes. All reagents and rinse waters are reused providing a
near-zero environmental footprint.
A Report On The Athelstan-Jackpot Mineral Property Of
Rimacan Resources Ltd
By J.S. Kermeen, M.Sc, P.Eng., June 3, 1983
2002 Summary Report on the A-J Group, Greenwood Mining
Division by R.E. Miller B.Eng. Sci., P.Geo February 2002
George Sookochoff, President &
CEO commented,
“I am excited to be returning
to our A-J gold project.
Our 2021 and first drill program focused on an area
around the Athelstan gold mine, one of two past producing gold mines
in the southern portion of the property. This was a natural choice as
the old adage says “Where’s the best location to look for gold?
Near a gold mine!”
Although the A-J North Zone is in an area of listwanite
and serpentinite similar to the two AJ mines to the south, there are
several additional important exploration vectors such as the
“diorite” factor, which makes this area very compelling to drill
for a potential gold resource.
As for the A-J South Zone I am looking forward to the
opportunity of generating cash flow in the relatively short term by
processing easily accessible gold material using new and cost
effective environmentally friendly technologies.
Our original plans were to drill our Come By Chance
(CBC) copper-gold property just 500 metres east of the AJ gold
project, however with the current global political and banking turmoil
and gold prices appearing to remain strong, we felt the time was right
to drill for gold as well as extract and process surface gold
material. That’s the advantage of Belmont’s portfolio of excellent
mineral projects and being able to adapt quickly to changing global
and market conditions.
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We are planning to complete our previously
announced financing by month end at which time the ground conditions
at A-J will be ideal for drilling.”
About Belmont Resources
Belmont Resources has assembled a portfolio of highly
prospective copper-gold-lithium & uranium projects located in
British Columbia, Saskatchewan, Washington and Nevada States. Its
holdings include:
The
Come By
Chance (CBC), Athelstan-Jackpot (AJ) and Pathfinder
situated in the prolific Greenwood mining camp in southern
British Columbia.
The
Crackingstone
uranium/REE
project in the uranium/REE
Beaverlodge district of northern Saskatchewan.
The
Lone
Star
copper-gold
mine in the mineral rich Republic mining camp of north
central Washington State.
Click Image To View Full Size
The
Kibby
Basin lithium
project located 60 kilometers
north of the lithium rich Clayton Valley Basin.
NI 43-101 Disclosure:
The technical information in this news release has been
prepared in accordance with Canadian regulatory requirements as set
out in National Instrument 43-101 and has been reviewed and approved
by Laurence Sookochoff, P.Eng.
We seek safe harbor. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release. The TSX Venture Exchange has not
approved nor disapproved of the information contained herein.
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