Kibby Basin in December 2018 (Source: Belmont Resources)
VANCOUVER, BC / ACCESSWIRE / March 1, 2019 / ("Belmont Resources Inc. ("Belmont" or the "Company") (TSX.V: BEA;FSE: L3L1; DTC Eligible - CUSIP080499403).
Jim Place, CEO/President reports the following news from Kibby. "After making significant alterations to their drill equipment on location; Harris Drilling of San Diego, California has re-commenced drilling on hole KB-4. Highly unusual weather conditions in the area including snow, freezing rain, and ice earlier in February; were also a cause for the delay in restarting hole KB-4."
Hole KB-4 has a targeted depth of 300 meters into the lakebed sediments. The hole targets a potential fault as interpreted from the geophysical survey data, which looks deep into the sub-surface layers. Geophysical and geological interpretation has indicated potential geothermal activity may have brought concentrations of dissolved minerals close to the surface. The drill hole KB-4 is in the center of the measured gravity low targeting the center of the anomaly on the interpreted fault.
Belmont expects that the drilling will proceed with no further delays.
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
Belmont owns the Kibby Basin Lithium project covering 2,056 hectares (5,080 acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada the location of the only US Lithium producer. MGX Minerals Inc. (CSE: XMG) has currently earned a 25% interest in the Kibby project and has the right to increase this to 50% by expending an additional $300,000 on exploration and become the operator.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its significant uranium properties (Crackingstone -982 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 uncertaintiesinclude, among other things, that we may not be able to obtainregulatory approval; that we may not be able to raise fundsrequired, that conditions to closing may not be fulfilled and wemay not be able to organize and carry out an exploration program in2019, and other risks associated with being a mineral explorationand 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.
Belmont Resources Inc.
Ph: (604) 683-6648 Fax: (604) 683-1350
Link to updated chart (15 min. delayed): http://schrts.co/IwTujaHn
Here´s What the Sierra Nevada´s Huge Snow Season Looks Like From Space
February 28, 2019It´s raining, it´s pouring and snowpack levels are soaring. Let us demonstrate ...
Picture and article source: https://www.kqed.org/science/1938578/heres-what-the-sierra-nevadas-huge-snow-season-looks-like-from-space
Previous Rockstone Coverage
Report #20 “Belmont Re-Starts Drilling at Kibby Basin Nevada Lithium Brine Project with MGX Minerals; Adds Two New Key Members to the Board of Directors"
Report #19 “Belmont to Start Drilling for Lithium Brine at Kibby Basin in Nevada after Thanksgiving"
Report #18 “Belmont reports final lithium assays from first hole of 2018 and gets ready for continued drilling at Kibby Basin in Nevada"
Report #17 “MGX-Belmont Announce Next Round of Encouraging Lithium Drill Results from Nevada"
Report #16 “MGX-Belmont sample up to 580 ppm lithium in sediments at Kibby Basin Nevada Joint Venture"
Report #15 “MGX-Belmont Drilling Finds Multiple Brine Prospective Zones at Kibby Basin Lithium Joint Venture in Nevada"
Report #14 “The Drills are Turning at MGX-Belmont‘s Kibby Basin Lithium Joint Venture in Nevada”
Report #13 “MGX and Belmont to Start Drilling at Kibby Basin Lithium Project in Nevada on Saturday”
Report #12 “MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin”
Report #11 “Ohm-m! The Divine Sounding of Resistivity”
Report #10 “Belmont Resources (BEA.V): Cheapest US lithium play may just be what others promised”
Report #9 “It‘s Time For Belmont To Shine In Nevada”
Report #8 “Bingo! Belmont finds striking drill targets for lithium brine deposits at Kibby Basin in Nevada”
Report #7 “The Missing Puzzle Piece to Discover Lithium Aquifers in the Kibby Basin of Nevada?”
Report #6 “Belmont on track to eclipse the Clayton Valley”
Report #5 “Belmont getting ready to drill for untapped lithium brines at Kibby Basin in Nevada”
Report #4 “The perfect lithium basin?”
Report #3 “Prominent gravity low identified on Kibby Basin Lithium Brine Property in Nevada”
Report #2 “Dark clouds over Clayton Valley and green lights for Belmonts Kibby Basin Project”
Report #1 “Early Report on Belmont Resources”
Stephan Bogner (Dipl. Kfm., FH)
8260 Stein am Rhein, Switzerland
Disclaimer: This report contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Rockstone Research, Belmont Resources Inc., MGX Minerals Inc. and Zimtu Capital Corp. caution investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Belmont´s and MGX Minerals´ public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Belmont´s and MGX´s profile on SEDAR at www.sedar.com. Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in Belmont Resources Inc. and MGX Minerals Inc., and is being paid by Zimtu Capital Corp. for the preparation, publication and additional distribution of this report, whereas Zimtu Capital Corp. also holds a long position in Belmont Resources Inc. and MGX Minerals Inc. Belmont and/or MGX pay Zimtu for the preparation, publication and additional distribution of this report. Any mentioned historical information is relevant only as an indication that some mineralization occurs on the properties, and no resources, reserve or estimate is inferred. A qualified person has not done sufficient work to classify the historical information as current mineral resources or mineral reserves; and neither Rockstone, Belmont-IMT nor Zimtu Capital is treating the historical information as current mineral resources or mineral reserves. For any mentioned technical information see Belmont´s Qualified Person’s review of such in the respective news-releases.