Belmont LIDAR Survey Supports Deep-Seated Copper-Gold Porphyry Model on Come By Chance Property Greenwood Mining Camp, B.C

VANCOUVER, BC / ACCESSWIRE / October 6, 2020 / Belmont Resources Ltd. (“Belmont”), (or the “Company”), (TSXV:BEA)(FSE:L3L2) is pleased to report that the helicopter-borne Lidar survey on the company’s Come By Chance property in the historic Greenwood Mining Camp has been completed. The 5.3 square km survey was flown by Pioneer Exploration Consultants Ltd., with point cloud data acquired at a density of 20 points per square metre.

The Come by Chance (CBC) Property covers an area of approximately 527 hectares and has a history of mineral exploration dating from the late 1890’s which is evident in the many pits, shafts, and adits which were developed in the search for a Phoenix type copper/gold skarn mineral deposit. Although the Phoenix mineral resource was the major producer, some of the smaller mines were productive from a number of different types of deposits. From 1900 to 1975 production from these 26 principal mines was, in addition to a significant amount of lead, silver, and zinc, 580 Mlbs of copper and 1.4 Moz of gold
(Church, 1986) ¹.

Belmont Properties Map

The CBC Property is located three kilometres to the southeast of the Phoenix deposits and on a comparative geological trend, hosts skarn. epithermal, and massive sulphide mineralization; typical mineralization associated with deep-seated copper/gold porphyry deposits. Skarn mineralization with elevated copper values occurs in many locations, with epithermal zones of alteration and quartz veining intersected by a diamond-drill hole situated near the major Eagle Mountain Fault in the southwest. An additional indication of epithermal mineralization is the free gold in quartz near the major Lind Creek Fault in the northeast.

CBC LIDAR Map

A small circular lake with a highly anomalous arsenic content centered between these major faults, appears as a hydrothermal or a collapsed breccia developed from an underlying intrusive in a volcanic environment. The location of the intrusive is supported by the results from the Lidar survey which clearly showed a series of radiating faults from the lake and obscure ringed faults surrounding the lake. These faults were likely developed from a rising intrusive and were instrumental as the means of mineral laden hydrothermal fluid transport from the intrusive to create the localized skarns. The largest area of mineralization on the Property, the Betts copper/gold Betts skarn area may have developed from the same hydrothermal fluids that caused the heterolithic breccia alteration of the Eagle Mountain Fault.

Most of the historic exploration of the Betts area, which probably targeted the large area of skarn mineralization, consisted of open-cuts, shafts, a 22 metre upper and a 251 metre lower adit. Although the skarn zones were not enhanced, the most significant result from the exploration was the intersection of a chute of massive sulphides; another indication of a potential deep-seated copper/gold porphyry deposit.

ISO view of CBC and AJ Properties

The CBC Property clearly requires additional exploration to locate the intrusive that generated the massive sulphide, epithermal, and skarn mineralization. The results of the Lidar survey has provided significant information to the location of the intrusive and the pending results of a magnetometer, survey should provide a specific target to test by a geophysical Induced Potential deep penetration survey or diamond drilling, for the indicated deep-seated copper-gold porphyry.

About Belmont Resources Inc.

Belmont Resources is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the highly prospective Greenwood-Republic mining camps. The Company has over a short period of time systematically acquired six past producing gold-silver and copper-gold mines.

– Athelstan & Jackpot Gold mines (Athelstan-Jackpot property – 100%)

– Betts Copper-Gold mine (Come By Chance property – 100%)

– Bertha & Pathfinder Gold-Silver mines (Pathfinder property – 100%).

– Lone Star Copper-Gold mine (Lone Star Property – LOI)

Belmont Contracts Zimtu Capital for Virtual and Digital Marketing

Belmont has engaged Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (“Zimtu”) to provide its ZimtuADVANTAGE program.

ZimtuADVANTAGE is a program designed to provide opportunities, guidance, cost savings and assistance to clients covering multiple aspects of being a public company. The services may include
– Developing and implementing a complete digital marketing program, including social media management, in-depth reports, video/image content and more.

– Providing virtual video conference events and promoting these events through paid advertising, networking, social media and news websites.

– Hosting presentations, luncheons and other events;

– Arranging meetings and planning events.

Zimtu shall receive $5,000 per month for a period of 24 months, with the entire 24 months payable at the beginning of the contract

Qualified Person

The scientific and technical information that forms the basis for parts of this press release was prepared and/or reviewed by Laurence Sookochoff, P.Eng., who is a Qualified Person “(QP”) as defined by National Instrument 43-101

The Qualified Person has not verified the data disclosed, through sampling, analytical, nor test data. The information was obtained from assessment reports submitted to the B.C. Government, and publicly available company reports.

The Qualified Person has not completed sufficient work to verify the historic information on the Property.

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

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.

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 2020, 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.

¹ Church, B.N., 1986. Geological Setting and Mineralization in the Mount Attwood-Phoenix Area of the Greenwood Mining Camp, BC MEMPR Paper 1986-2.

SOURCE: Belmont Resources Inc.

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