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Belmont Resources Receives Permit Approval For Drilling Program at A-J Gold Project, British Columbia

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VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / Belmont Resources Ltd is pleased to announce that permit approval has been granted by the British Columbia Ministry of Energy and Mines for drilling on the Company's A-J gold project, located in southern British Columbia. This is a five-year area-based permit covering surface exploration and drilling.

A-J Mines & Mineralized Trends

Further to receipt of the permit, the Company will undertake a 2,000-metre drilling program to test a strong coincident resistivity-chargeability anomaly situated 150 meters beneath two mineralized gold trends including the former producing Athelstan and Jackpot gold mines.

The East-West ‘A-J' mineralized trend extends over an approximate area of 240 by 1,000 metres and includes the past producing Athelstan and Jackpot gold mines which collectively produced 7,600 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The A-J Group was one of the most productive gold mines in the Greenwood mining district of southern British Columbia.

A-J Trend 3DIP Resistivity Cross Section

The second is the North-South ‘Contact' mineralized gold trend. Past trenching and sampling in this trend has identified three mineralized gold zones; J34, J12 & ‘A' Zones. Sampling has returned gold grades as high as 35.2 g/t Au over 3.0 meters (2002 chip sampling[1]).

Both mineralized trends are defined by strong resistivity anomalies. The resistivity high anomalies are interpreted as representing silica altered rock which includes quartz veining and listwanite. Listwanite is a key ultramafic rock alteration directly associated with several multi-million ounce gold deposits in Atlin, Bralorne and Barkerville districts of British Columbia as well as the Motherlode District in California

A-J Trend Chargeability Cross Section

3D-IP sections along the two trends indicate potential altered silica feeders to the two mines as well as other areas along the trends.

The resistivity anomalies are underlain at depth by a strong chargeability anomaly, measuring 800 x 1000m and at a depth of approximately 150m below the two mineralized trends.

On surface, disseminated sulfides occur within dykes and tongues of altered porphyritic intrusive that both cut and underlie the north-dipping band of listwanite.

A-J Trend Coincident Chargeability-Resistivity Anomaly

The large chargeability anomaly may reflect important mineralization within a large intrusive body and could be the causative source of mineralization at surface.

George Sookochoff, President & CEO commented "The historic gold miners have mined an extensive amount of gold and silver from relatively shallow underground mines. Our recent LIDAR, magnetic and 3D-IP surveys have delineated a large target 150m below their mines which may be the source of gold they mined at surface."

"But ultimately drilling will tell and that's what we are now prepared to do!"

About Belmont Resources Inc.

Belmont Resources is a junior mining company engaged in the business of acquiring past producing gold-copper mineral properties located in the highly prospective Greenwood-Republic mining camps. Belmont is utilizing new exploration technology as well as new geological modelling to identify gold-copper mineralized feeder systems to the relatively shallow historic mines.

The Company's project portfolio includes:

- Athelstan & Jackpot Gold mines (Athelstan-Jackpot property - 100%)

- Bertha & Pathfinder Gold-Silver mines (Pathfinder property - 100%).

- Betts Copper-Gold mine (Come By Chance property - 100%)

- Lone Star Copper-Gold mine (Lone Star Property - LOI)

Belmont Property Map

Qualified Person

Linda Caron, M.Sc., P.Eng. is the qualified person under National Instrument 43-101 who has reviewed and approved the technical content of this news release.


"George Sookochoff"

George Sookochoff, CEO/President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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 2020, 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.

[1] Caron, L., 2003. Assessment Report on the Athelstan-Jackpot Property, Trenching and Rock Sampling, for M. Hallauer and T. Hallauer. BC MEMPR Assessment Report 27302.

SOURCE: Belmont Resources Inc.

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