A recent gravity survey review on Kibby Basin revealed a distinct anomaly in the middle of Belmont‘s Kibby Basin Property, 65 km north of the Clayton Valley
On June 10, Belmont Resources Inc. announced to have started the phase-1 exploration program on its 100% owned Kibby Basin Project in Nevada’s Monte Cristo Valley, 65 km north of the Clayton Valley. Wright Geophysics completed a geophysical review and work proposal program. A few days later, Belmont announced to have engaged Magee Geophysical Services to conduct a detailed gravity survey to map the central basin so as to permit generation of a 3D model of the basin fill; providing the coverage to determine basin depth and delineate the structural setting. Last week on June 23, Magee completed the gravity survey, whereas Wright is currently interpreting the data and developing a 3D interpretation from the data. The results, expected any day now, will help outline the optimal testing areas for a direct push (Geoprobe) drilling and sampling program, which is expected to be announced shortly thereafter. With a current market capitalization of less than $3 million, the company may generate substantial shareholder value in case the upcoming brine drilling turns out positive, as Rockstone anticipates.
Belmont has received a Geophysical Review and Work Proposal Report from James L. Wright of Wright Geophysics on June 6, 2016; including the following remarks:
“Figure 2 presents the complete Bouguer anomaly of gravity at 2.50 g/cc over the topography. The current property position is shown as a black rectangle. A prominent gravity low, as expected, correlates with the basin center flanked by highs in the outcrop areas to the east and west. Average station spacing is variable but on the order of two kilometers with significant gaps. Such coverage is adequate for large scale analysis but completely inadequate for property scale work...
Geology over the property and surrounding area is covered by Ferguson et. al (1953) in the Coaldale 15’ quadrangle geologic map. Figure  presents the portion of the geologic map covering the property and geophysical data sets. Three rock units are labelled in the area; Ji - Jurassic intrusions, Tol - older volcanics, and QTb - young basalt units. A large area of QTb is mapped within the basin near the southern lateral fault. The occurrence of a large area of QTb within the basin indicates additional QTb could well be encased within the basin fill and possibly play a role in ponding and/or controlling the distribution of lithium brines.
Figure 3: Coaldale 15’ Quadrangle Geologic Map
The genetic model for the central basin suggests additional normal faults should be present forming a number of steps down into the basin on both the east and west sides. Clearly, a strong density contrast exists between basement rocks (ie. Ji, Tol, etc.), and the basin fill. The detailed gravity survey is recommended as the next stage to map the central basin in sufficient detail so as to permit generation of a three dimensional model of the basin fill.”
Ernest L. Hunsaker III, Belmont’s Qualified Person, stated on June 10:
“Phase 1 results will determine how best to execute the drilling proposed in Phase 2.”
Figure 4: CBA Gravity overlain by Interpretation
Figure 5: RTP Magnetics overlain by Interpretation
An interpretation is presented over the gravity and airborne magnetics in Figures  and  respectively. Structures are depicted with dashed lines with line width indicating magnitude. Sense of movement is indicated with either arrows or up down labels. Interpreted outlines of the Ji and Tol are denoted with colored polygons. Finally, mapped outcrop of the QTb are depicted with brown hatched polygons.
Examination of the gravity reveals a distinctive pattern to the basin. That is, the northern portion trends northwest-southeast with a relatively shallow amount of basin fill. The central portion of the basin rotates to north-south and deepens considerably; finally, the southern portion of the basin shallows and returns to a northwest-southeast orientation. Hunsaker (2016) notes the complex structure evolution of the area with supporting references to Hardyman et. al. (1990), Oldow (2003) and Oldow et. al. (2009). This complex basin geometry can be accounted for by a left lateral shear couple as depicted with the two west-northwest directed structures labeled with sense of displacement arrows. These structures bound the north and south edges of the central basin. Between the two lateral displacement structures is a zone of extension typified by at least four high angle normal faults oriented approximately north-northeast. High angle normal displacement along these structures is interpreted to have formed the main central basin. Such fault geometry is indicative of an overall trans tensional environment and termed a pull-apart basin. Figure  shows a three dimensional block diagram of such a basin’s formation.
Figure 6: Example of Left Lateral Pull-apart Basin
A large area of QTb is mapped within the basin near the southern lateral fault. The occurrence of a large area of QTb within the basin indicates additional QTb could well be encased with the basin fill and possibly play a role in ponding and/or controlling the distribution of lithium brines.
The RTP magnetics are presented in Figure  overlain by the interpretation. Prominent magnetic highs correlate with the Ji and Tol rock units. As noted by Albers and Stewart (1972), large bodies of Jurassic intrusions occur in this portion of Nevada as eastern outliers to the main Sierra Nevada batholith. Depicted on the figures is an interpreted distribution of the Ji based upon the magnetics. A large extension to the east and south from the small outcrops is interpreted, which is down faulted into the basin by two of the north-south directed normal faults. On the east side of the main basin, a large area of Tol is mapped which correlates relatively well with strong magnetic values. An interpreted distribution based on the magnetics is depicted a defined with a square hatched polygon.
As with the Ji to the west, the Tol is also down faulted into the basin. Based upon this interpretation, it is reasonable to infer the Ji and Tol; plus lesser contributions from the Dunlap, Luning, and Excelsior formations form the bottom of the basin. Filling the basin would be the less dense Esmeralda formation (Te) and Quaternary material including gravels and playa deposits. As noted previously, bodies of QTb could well be found within the gravel fill.
SUMMARY AND WORK PROPOSAL
The interpretation indicates a genetic model for the central basin in which north-northeast directed normal faults accommodates left lateral extension by forming a pull-apart basin. These normal faults form the east and west boundaries to Kibby Basin. Furthermore, the genetic model suggests additional normal faults should be present forming a number of steps down into the basin on both the east and west sides. Clearly, a strong density contrast exists between basement rocks (i.e. Ji, Tol, etc.) and the basin fill (i.e. Te, Qal). A detailed gravity survey is recommended to map the central basin in sufficient detail so as to permit generation of a three dimensional model of the basin fill.
Figure  shows proposed gravity stations over topography. A total of 433 stations are involved. These include 500 m square grid coverage over the central basin and property flanked to the north and south by1000 m staggered grid coverage. Further afield are regional stations shown in blue along available roads. Regional stations are required to determine the large scale trend in which the detailed coverage sits. The regional stations are provision pending a review of the public domain USGS data, which could replace some of the stations. Once the gravity data are acquired, a three dimension of the Kibby Basin will be constructed.”
Source: James L. Wright (M.Sc.) in “Kibby Basin Property Geophysical Review Work Proposal” on June 6, 2016
A few days ago, a gravity survey was completed on Belmont’s Kibby Basin Property (picture shows Site 1140):
Gravity Survey Base Station:
Black and white satellite shot of the Kibby Basin (flat/center of photo):
Capped historic oil well – 2.4 km (1.5 miles) southwest of Belmont’s property in Monte Cristo Valley:
Dunham Mill Well (Dry) – 1.3 km (0.8 miles) northwest of Belmont’s property in Monte Cristo Valley:
Kibby Flat Well – 4.2 km (2.6 miles) south of Belmont’s property in Monte Cristo Valley:
Microwave well – 0.8 km (0.5 miles) south of Belmont’s property in Monte Cristo Valley:
Looking north at Belmont’s Kibby Basin Property from Basalt Hills south of property:
Looking easterly from Tiffany Mine – Kibby Property covers playa in valley bottom:
Vojtech Agyagos (President & Director)
Mr. Agyagos has more than 25 years of management and financial consulting experience and has served as an officer and director on numerous public companies since 1982. This experience has resulted in his managing of exploration projects in South America, Eastern Europe (Slovak Republic) in oil/gas and mineral exploration, and British Columbia, Quebec, Labrador and Ontario (Canada). Mr. Agyagos has served as President and Director of Belmont since December 1996.
Gary Musil (Secretary, CFO, Director)
Gary Musil has more than 30 years of management and financial consulting experience and has served as an officer and director on numerous public companies since 1988. This experience has resulted in his overseeing of financial aspects and expenditures on exploration projects in Peru, Chile, Eastern Europe (Slovak Republic), and British Columbia, Ontario, Quebec and New Brunswick (Canada). Prior to this, he was employed for 15 years with Dickenson Mines Ltd. and Kam-Kotia Mines Ltd. as a Controller for the producing silver/lead/zinc mine in the interior of British Columbia in Canada.
Jake Bottay (Director)
Jake Bottay is a graduate of Simon Fraser University, earning his Bachelor of Arts Degree in 1972. Since 1980, Mr. Bottay has been responsible for project co-ordination, financing, contract negotiations, audit committees and public relations with a number of junior exploration companies. While serving as a Director or Officer on numerous public companies, Mr. Bottay has gained valuable experience in doing business in South America, Europe and Canada.
Roger Agyagos (Director)
Mr. Agyagos has a Diploma in Management Systems from BCIT. Since 1995 he has been Vice President for a private BC company providing office management and financial consulting services to various private and public companies. Mr. Agyagos assists with daily correspondence, office services, preparation of news releases and financial statements.
Dusan Berka (Director)
Mr. Berka (P.Eng.) has over 40 years of international business experience spanning Europe and the Americas with extensive experience in the finance, marketing and administration of public companies, having served as a Director and Officer of various public companies traded on the TSX, TSX Venture and NASDAQ exchanges. A graduate engineer with a M.Sc. (Dipl. Ing.) degree from Slovak Technical University, Bratislava, Slovakia (1968), Mr. Berka has been a member of the Association of Professional Engineers and Geoscientists of British Columbia since 1977.
James H. Place (Advisory Board)
Mr. Place, of Delta, B.C. is a registered Professional Geoscientist (P.Geo.) in the Province of B.C. (1992) and in this function has worked for government and private industry as a consultant for 24 years including engineering groups, environmental assessment specialists, and private mineral developers. His experience of providing support to government and private organizations includes property assessment, project planning, management, supervision, and administration for all types of engineering and development projects. His experience of providing management and directorship on a number of public companies will provide a significant contribution to the Company at this stage of exploration and development.
Belmont Resources Inc. (TSX.V: BEA; Frankfurt: L3L1) is an emerging resources company engaged in the acquisition, exploration and development of mineral properties; in Canada and USA. The company has recently entered into an property acquisition agreement to acquire 16 unpatented association placer mining claims, representing 1,036 hectares (the “Kibby Basin Project”) in the Monte Cristo Valley, Esmeralda County, Nevada, approximately 65 km north of Clayton Valley. Belmont has previously acquired 4 claim blocks comprising 2,252 hectares located within the Abitibi Harricana-Turgeon volcanic greenstone belt of Northwestern, Quebec. This belt hosts several world class deposits that have produced both gold and base metals. Belmont holds 50% interest in 12,841 hectares of uranium properties located in the Uranium City region of North Saskatchewan. Belmont is focused on the development of these projects through joint ventures, whereby Belmont recognizes exploration activity and minimizes cash commitments.
Belmont Resources Inc.
Suite 600 - 625 Howe Street
Vancouver, BC, V6C2T6 Canada
Phone: +1 604 683 6648
Email: firstname.lastname@example.org (Gary Musil)
Shares Issued & Outstanding: 32,628,453
Canadian Symbol (TSX.V): BEA
Current Price: $0.07 CAD (June 27, 2016)
Market Capitalization: $2 million CAD
German Symbol / WKN (Frankfurt): L3L1 / A1JNZE
Current Price: €0.061 EUR (June 27, 2016)
Market Capitalization: €2 million EUR
Research #2: “Dark clouds over Clayton Valley and green lights for Belmonts Kibby Basin Project” (May 30, 2016)
Research #1: “Early Report on Belmont Resources” (April 13, 2016)
Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist.