Belmont concludes option agreement for 100% ownership of the Come By Chance copper-gold porphyry project and plans 2021 exploration
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Vancouver, Before Christ Canarea – TheNewswire – May 27, 2021; Belmont Resourcees Inc. (“Belmont”), (or the “Companoty “), (TSXV: BEA) (FSE: L3L2) is pleased at announce this he has vsompletere the terms of the option agreement for acquiredtIonot of the Come By Chance (CBC) copper- gold porphyry project signoted in May 27, 2020. the Companotthere now is holding a 100% interis in the prproperty, matter at a NSR of 1.5% which the vsompany can reduce at 0.5% with a Payment of CAN $ 1,000,000 at the sellers.
Come By Chance property map
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Belmont’s CBC Copper-Gold Porphyry Project is located in the prolific copper belt of British Columbia known as the Quesnellia Hollow. This belt has been described as one of the most promising geological zones for gold and copper in Canada. The Quesnellia pit is important from an economic point of view because of its rich endowment in porphyry gold, copper and gold deposits. These large tonnage deposits are sought after by large mining companies because of their surface mine, low cost operating characteristics and long life.
British Columbia’s Quesnellia Terrane (Hollow)
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Located in the Quesnellia pit is the prolific Greenwood mining camp, considered one of the most concentrated mineralized zones in British Columbia. 26 principle mines were operational in this region producing over 550 million pounds of copper and over 1.5 million ounces of gold.
The SRC property is very accessible, being just 5 kilometers from the town of Grand Forks, three kilometers southeast of the former Phoenix production mine and directly across from the provincial road # 3 of the gold property. AJ from the company. Highway 3 and a power line cross the edge of CBC property.
Historical exploration on the property has revealed numerous indications of a hidden intrusive potential of copper / gold mineralization at the Betts mine, in skarns, free gold and the intersection of an indicated massive sulphide epithermal zone. in the Betts mine.
Exploration of Belmont’s CBC 2020 property has therefore been scheduled to locate the area of potential intrusive and to delineate specific locations for follow-up exploration.
As a first step, a lidar survey was carried out, which resulted in the disclosure of many of the lineament structures shown that could have facilitated the creation of the isolated skarn areas.
A low-level follow-up magnetic survey of the CBC property provided a better indication of the volcanic caldera associated with a distinctive magnetic depression, measuring 800 meters by 1000 meters, bounded by magnetic peaks to the southwest and northeast. sides, as well as the trendy Eagle Mountain and Eagle Creek faults. This particular magnetic signature is associated with other copper-gold porphyry systems in the Quesnella trough.
Belmont is planning an IP survey of the magnetometer anomaly on the CBC property which, through structurally related mineralized breccia zones exposed at surface, shows the extension of the magnetometer anomaly to a depth of 525 meters below surface, open at depth and length and up to 2,800 meters wide, is expected to provide a first order anomalous IP target for a 500 meter first diamond drill hole.
CBC Magnetic Reversal – Potential Drill Target
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About To belMountain Resources
Belmont Resources is engaged in the business of acquirinotg and redevelopment gold–copper-lithium localized projects in NOTorth America. By utilizinotg New exploration technologynotology and geological modour the business Iidentify yourself pimpossible pennyrthese of gold–copper-lithium Mineralization.
the Company project wallet Inotvsludes:
– Athelstan & Jackpot Gold the mines, Before Christ (Athelstan-Jackpot property – 100%)
– Kibby Pool Lithium Project, Nevada – (100%)
– Betts Copper-Gold midnote, Before Christ (VSome Through Chanotthis property – 100%)
– Berthe & Scout Gold Silver the mines, Before Christ (Scout property – 100%).
– Only Star Copper-Golre mine, Washington State (Only Star Supporterty – LOI)
Laurence Sookochoff, ing. is the qualified person under NI 43-101 who has reviewed and approved the technical content of this press release.
AT BEHALF OF THE ADVICE OF DIRECTTORS
“George Sookochoff “
George ThereforeOkayochoff, CEO / President
E-mail: george @ belmontresources.com
We seek safeor. Neithuh TSX Venture Exchangeange ni his Regulation Services Provideder (as this term is defined in the Strategies of the TSX Venture Exchange) accesspts rresponsibility for the adequacy or accuracy of this Release. TSX Venture Exchange Exchange did not approve nor reIsapproved the information conottained herein.