BELMONT RESOURCES INC. (via TheNewswire)
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Drill results received for
South Zone drill holes A-J23 06-09.Strong mineralization from Athelstan gold mine area drilling indicates peripheral alteration zone to a potential deep-seated copper-gold porphyry.
New vectors point to Jackpot gold mine and the major Jackpot fault areas.
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A-J 2023 drill plan over geophysics
2023 Drilling focused on two zones on the property.
Initial results have been received for
As reported in previous news releases dated
Although long grades of gold mineralization were intercepted (up to 150m) the grades were minimal with only two gold intercepts of note:
AJ23-07 from 28m: 3.8 meters @ 0.4 g/t Au including 1.9m @ 0.60 g/t Au
AJ23-08: from 26m depth: 1.1 meters @ 1.1 g/t Au
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A-J Drill Sections beneath the Athlestan mine
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The long grades of gold mineralization albeit low grade, correlates in most part with the extensive quartz veining, semi-massive pyrite, pyrrhotite, and sulphides along with intensely phyllic alteration as reported in previous news releases dated
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DH AJ23-07 Extensive quartz vein stockwork intersection, sheared and brecciated with pyrrhotite and pyrite stringers, chalcopyrite
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DH AJ23-07 Abundant brittle fracturing and pyrrhotite mineralization in intensely silicic altered plutonic host rock
This is a strong indication of a “peripheral alteration zone to a deep-seated copper-gold porphyry”. The surficial gold along the mineralized trend of the south zone and even the low gold mineralization in the drill core is interpreted as major structural seepage from this porphyry. This major structure may refer to the Jackpot fault which may be providing a conduit for hydrothermal mineralized fluids to travel from the porphyry to the surface.
As for a deep seated porphyry model, one model suggests that there may be in fact linkage between the A-J property and Belmont’s nearby CBC property where exploration is also targeting a large copper-gold porphyry system at depth.
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A-J may be linked to the nearby CBC property
“Our updated database provides exploration vectors pointing eastward, specifically towards the Jackpot gold mine and the Jackpot fault which is where we will focus our 2024 drill program.”
2024 Drilling Program
Drilling of the Jackpot mine and Jackpot Fault zones area planned for Q2 2024. As the deepest
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2024 Planned Drilling Along Jackpot Fault – Section ‘A1’
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2024 Planned Drilling Along Jackpot Fault – Section ‘A2’
North Zone Drill Results Pending
Further results from the remaining 
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About
Athelstan-Jackpot (A-J):2 former gold mines.2,000m drilling targetingmulti-coincident geophysical anomaly on strike with neighboring gold trend and gold mines completed.
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 iscurrently preparing a Preliminary Economic Assessmentin order to earn 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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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
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
www.belmontresources.com
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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