BELMONT RESOURCES INC. (via TheNewswire)
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November29, 2023 –TheNewswire -
The completion of a PEA is part of Marquee’s final required work commitment in order to earn an 80% interest in the
PEA Features:
Mineral Resource Estimate (MRE) includes Indicated 9.76 Mt at 0.60% CuEq and Inferred 3.35 Mt at 0.44% CuEq, based on a 0.10% CuEq cutoff within a conceptual pit shell.
Life of Mine (LOM): 14 years
Financial Outcome: NPV: Negative
US$ 123.9m and IRR: Negative 10.2%.
Please refer to https://www.marqueeresources.com.au/ for more information and a full version of the PEA.
Despite the initial economic challenges identified, the report highlights critical factors that could potentially shift the economics into a positive direction. Notably, there is a prospect of a gold deposit approximately 400m west of the
Our forthcoming discussions with Marquee will shed light on their strategies for advancing the
Despite the initial economic challenges outlined, the report highlights key considerations that could potentially pivot the economics towards a positive trajectory. Notably, there is the prospect of a gold deposit approximately 400m west of the
Our upcoming discussions with Marquee will provide insights into their strategies for advancing the
About
Athelstan-Jackpot (A-J):2 former gold mines.2,000m drill program recently completed (seeNR Oct. 31_2021)
CrackingstoneUranium-Rare Earths:Some of the highest grade Rare Earth Elements (REE’s) are being discovered in
Northern Saskatchewan due to the presence of Uranium, Thorium Pegmatites. Crackingstone project meets the criteria for potentially discovering a large REE’s deposit with its high grade uranium along with thorium and pegmatite. A review of 3,000m of 2008 drill data shows a 1.3km pegmatite dyke drilled but only assayed for uranium at that time.2023 plans are to re-assay pegmatite sections for REE’s ;
Come By Chance (CBC):2021 geophysics delineated potential large copper-gold porphyry
2022 drilling provided further vectors towards potential core of porphyry;
The
Lone Star Copper-Gold:optioned to Australian Marquee Resources ASX:MQR. MQR has spent in excess of$2.5M in drilling, completed new resource inDec. 2022 , and has completeda Preliminary Economic Assessmentin order to earn an 80% interest.
TheKibby Basin Lithiumproject located 60 kilometers north of the lithium rich
Clayton Valley Basin : Optioned 80% of the central Kibby Playa claim block to Australian Marquee Resources - MQR. MQR has spent in excess of$2.5M in drilling in 2022 for potential deep seated lithium brine. 2022 Drilling confirmed high levels of lithium-bearing sediments along with dissolved lithium in the groundwater.
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ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
Neither the
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2023, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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