Belmont Resources Inc. Completes Option Agreement For 100% Ownership of A-J Gold Project
Vancouver, May 18, 2021 - Belmont Resources Inc. ("Belmont"), (or the "Company"), (TSXV:BEA) (FSE:L3L2) is pleased to announce that it has completed the terms of the option agreement for acquisition of the A-J (Athelstan-Jackpot) gold project signed in May 7, 2020. The Company now holds a 100% interest in the property, subject to a NSR of 2.0% which the company can reduce to 1.0% with a payment of US$500,000 to the vendors.
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The A-J property in situated in the Greenwood Mining Camp of southern British Columbia and includes two past producing Athelstan and Jackpot gold mines which collectively produced 7,000 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The two mines and at least 9 known gold mineralized zones extending over an approximate area of 240 by 1,000 metres are associated with listwanite, a key ultramafic rock alteration directly associated with several multi-million ounce gold deposits in Atlin, Bralorne and Barkerville (British Columbia), as well as the Motherlode District in California.
View A-J Property Map at https://bit.ly/3ytFyx4
Belmont recently completed a 9 hole, 2,000 meter drill program on the A-J property. Results from the first 5 drill holes were announced in an April 29, 2021 news release. Results of note included 20.5 g/t Au over 0.41 meters within a 6.32 g/t Au over 3.28 meter interval. The Company is waiting for assay results for the remaining 4 drill holes which are expected shortly.
About Belmont Resources
Belmont Resources is engaged in the business of acquiring and developing gold-copper-lithium projects located in North America. By utilizing new exploration technology and geological modelling the company is identifying possible sources of gold-copper-lithium mineralization.
The Company's project portfolio includes:
- Athelstan & Jackpot Gold mines, B.C. (Athelstan-Jackpot property - 100%)
- Kibby Basin Lithium Project, Nevada - (100%)
- Betts Copper-Gold mine, B.C. (Come By Chance property - 100%)
- Bertha & Pathfinder Gold-Silver mines, B.C. (Pathfinder property - 100%).
- Lone Star Copper-Gold mine, Washington State (Lone Star Property - LOI)
Qualified Person
Linda Caron, M.Sc., P.Eng is the qualified person as defined by NI 43-101 who has reviewed and approved the technical information contained within this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
"George Sookochoff"
George Sookochoff, CEO/President
Ph: 604-683-6648
Email: george@belmontresources.com
Website: www.BelmontResources.com
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.