VANCOUVER, BC / ACCESSWIRE / November 22, 2018 / ("Belmont Resources Inc. ("Belmont" or the "Company") (TSX.V:BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403).
Kibby Basin – Drilling to Commence
Harris Exploration Drilling and Associates owner, Pat Harris, has advised Belmont that they are ready to begin mobilizing drilling equipment to the Kibby Basin and drilling is expected to commence after the Thanksgiving holiday. Hole KB-4 targets a prominent structure within the large MT anomaly defined from the Quantec's MT survey completed in February, 2018. The site is located approximately 2300 metres northeast of hole KB-3, drilled in August. See drill hole map which outlines Holes KB-1 to 4 and other proposed hole locations; http://www.belmontresources.com/maps-kibby%20basin.html#&gid=1&pid=6 & http://www.belmontresources.com/maps-kibby%20basin.html#&gid=1&pid=7
Harris will be using a RD-10 rotary drill and estimates that KB-4 will take approximately one week to reach the proposed initial depth of 1200 feet, after which down-hole geophysical surveying will be carried out. After the results of the geophysical survey are analyzed, the most favorable layers for lithium brine will be identified for sampling and testing of formation waters, possibly followed by deeper drilling. Specialized casing and equipment will be used in the drill hole to allow the best and most representative samples to be obtained.
Sediment samples will also be taken by Belmont's on-site geologist during drilling and these samples will be logged and prepared for assay in the same manner as for previous drill holes.
NI 43-101 Disclosure
Robert ("Bob") G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.
Munich Exhibition successful
Mr. Gary Musil, CFO/Director of Belmont with Zimtu Capital Corp. (TSX.V: ZC) and other Zimtu associated companies showcased the Company for two days at the International Precious Metals & Commodities (Edelmetall & Rohstoffmesse) Show in Munich, Germany – November 9th & 10th, 2018. A number of long time investors of Belmont, as well as recent investors dropped by our booth for updates and questions on our Kibby progress.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada and Nevada, U.S.A.
For further information see our Website at: www.BelmontResources.com
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On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada-U.S.A. The Company believes the property to be highly prospective to host lithium. Subsequent ground geophysics & gravity surveys, surface sampling and a two hole- 2046 ft. diamond drill program have confirmed the presence of lithium on Kibby.
In June 2018; the Company has updated its land position staking, and now holds 126 x 20 acre additional placer mineral claims totaling approx. 1,020 hectares ( 2,520 acres) , adjoining the Kibby 16, for a total Kibby Basin land position (the "Property") to 2,056 hectares (5,080 acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan, Canada
ON BEHALF OF THE BOARD OF DIRECTORS
"James H. Place"
James H. Place
CEO/President
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. Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties. 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 2016; 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.
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.
SOURCE: Belmont Resources Inc.