Vancouver, B.C., Canada - Belmont Resources Ltd. ('Belmont' or the 'Company') (TSX.V: BEA; FSE: L3L2) is pleased to announce plans for a 2024 exploration and drilling program on its Crackingstone Uranium project situated in the Beaverlodge uranium district on the north shore of Lake Athabasca.
This is the first time that Belmont is returning to the uranium project since its last successful 3,000 meter drill program in 2008. The project was put on hold after the drill program due to the 2008 market crash and a major drop in uranium prices.
George Sookochoff, President & CEO, Belmont Resources commented 'We have been waiting for the right time to bring our Crackingstone Uranium project back on stream, and with uranium prices at an all-time high, now is certainly the right time to showcase Belmont's great uranium project!'
We have produced a very informative video which does a great job in telling the Crackingstone visual story. We invite you to watch it below.
The 100% owned Crackingstone property is located in the Beaverlodge uranium district, on the north shore of Lake Athabasca and only 6 km by road from Uranium City, Saskatchewan. A power line crosses the southern portion of the property.
Historic work in the Uranium City area dates back to the 1950's. From 1953 to 1982, sixteen deposits were brought into production which produced a total of 70,250,000 lbs U3O8 averaging 0.24 % U3O8. The grades ranged from 0.18% to 0.43%.
The Crackingstone property covers 5 kms of the Black Bay Shear Zone, a major structural feature in the region which hosts several past producing mines such as the past producing Leonard and Smitty uranium mines combined to produce 876,000 lbs of uranium oxide and to the northeast the Cayzor uranium mine produced approximately 1,372,800 lbs with unexplored depth potential.
EM Conductive Corridors
A 2007 EM survey by Belmont has delineated three primary conductive corridors on the property. The Chance Lake and Boom Lake EM corridors are coincident with the Chance Lake and Boom Lake north easterly faults. The Nero Lake conductive corridor is a broad corridor trending north easterly in the south east area of the property. All three corridors are associated with Uranium occurrences.
About Belmont Resources
Belmont Resources has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare earths projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:
Athelstan-Jackpot (A-J): 2 former gold mines. Initial 2023 drill results from Athelstan gold mine area drilling indicates peripheral alteration zone to a potential deep-seated copper-gold porphyry.
Crackingstone Uranium: High grade uranium property situated in the prolific Beaverlodge Uranium District of the Athabaska basin. The Project covers 4 kilometers of the Black Bay Shear Zone, a northeast trending magnetic low corridor which hosts 4 past producing mines.
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 $2.5M in drilling, completed new resource in Dec. 2022 and a PEA in November 2023 earning them a 50% interest in the property.
The Kibby Basin Lithium project 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 $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. Mineralized intervals containing up to 924 ppm lithium with greater than 300 ppm lithium over thicknesses in excess of 450m have been identified in core samples of clay-rich playa sediments.
NI 43-101 Disclosure:
The technical and scientific information in this news release has been reviewed and approved by Laurence Sookochoff, P.Eng. Technical Advisor of the Company, who is a Qualified Person as defined by NI 43-101.
Contact:
George Sookochoff
Tel: 604-505-4061
Email: george@belmontresources.com
Web: www.BelmontResources.com
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.
BELMONT RESOURCES INC. 
