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BEA Belmont Resources Inc

0.03
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Belmont Resources Inc TSXV:BEA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.03 0.025 0.03 0.03 0.03 0.03 1,000 20:41:44

Belmont Resources Inc.: Technical Report on Angle Property-Abitibi, Quebec

27/09/2012 2:00pm

Marketwired Canada


Belmont Resources Inc. ("Belmont", the "Company" or "BEA") (TSX
VENTURE:BEA)(PINKSHEETS:BEAAF)(FRANKFURT:L3L) is pleased to announce the receipt
of the final of three Technical Reports prepared by Consultations Geo-logic
("Geo-logic") of Quebec, an independent geological engineering consultant. The
Technical Report is filed on SEDAR under the Company's SEDAR profile. 


The Technical Report on the Angle (the "A") Property has been prepared in
accordance with NI 43-101 Standards of Disclosure for Mineral Properties and
complying with NI 43-101A.


The property was acquired on the basis of physiographic and geophysical data
that could indicate the presence of volcanic centers. The general geological
context remains favorable for other model deposits and exploration towards these
models will return data that will serve to establish if the volcanic centers
model can be supported.


Property Location & Access

The 'A' Property is located to the west of the town of Matagami and some 35
kilometres northwest of the former town of Joutel, Abitibi, Quebec. It consists
of 5 designated claims covering 278.87 hectares, in the southeast part of
Orvilliers Township. The area was logged some years ago, so access to the
property is through a network of gravel roads and winter logging roads that
connect to the north with the all-weather road linking the town of Villebois to
the old Selbaie mine and to the south with the all-weather road linking the town
of Authier-Nord to the former mining town of Joutel.


History & Observations

The 'A' property area is dominated by large stretches of peatland with scattered
low hills along which are found the bedrock outcrops. The property is centered
on one of these low hills that extends over most of the property.


The first exploration work on the 'A' property was reported by Kennco
Exploration (Canada) Ltd. in 1959, when one diamond drill hole in the southeast
part of the property intersected a silicified siltstone with up to 50% pyrite
locally but with traces of chalcopyrite and sphalerite.


Some geophysical surveys by Essex Minerals Co. in 1977 and Placer Development in
1984 were done, but without follow-up drilling.


The next significant exploration work was carried out by Tandem Resources/Sao
Paulo Explorations between 1985 and 1987, when many ground surveys were
completed, including reverse circulation drilling. This work indicated two
WNW-ESE trending horizons with anomalous gold and zinc values in the basal till
heavy mineral concentrates, one in the northern part and another in the
southeast part of the property. Limited follow-up drilling was done on these
zones, which remain unexplored.


The most recent work was done by Soquem in 1995 and 1996 on a larger property
that overlapped the 'A' property. One hole drilled on the southeast part of the
'A' property intersected mafic to intermediate volcaniclastics with graphite and
pyrite argillites but without any significant copper or zinc values.


Airborne geophysical magnetic surveys suggest that a complex combination of
folding and/or faulting is present on the 'A' property. Complex structural
contexts constitute favourable environment for gold vein emplacement like the
Casa-Berardi deposits nearby.


Various fault networks were interpreted by previous explorers, and it is
important to note that the Casa-Berardi Deformation Zone ("CBDZ") path, an
east-west intense structural zone, lies three kilometres to the south of the
property. The CBDZ is a regional-scale structure that can be traced for over 60
km. It ranges in width from 4 to 6 km and affects both the sedimentary and
volcanic sequences.


Recommendations

A two-phase exploration program is recommended, with a first phase of IP
geophysical surveys and second phase of follow-up drilling.


Qualified Persons

Mr. Alain Tremblay, B.Sc. A. and Mr. Henri-Louis Jacob, B.Sc.A, Geological
Engineers, who are Qualified Persons as defined by NI 43-101 have reviewed and
approved the technical information above in this news release.


About Belmont Resources Inc.

The Company has recently entered into a property option agreement to acquire
four groups (51) mineral claims, representing 2,254.27 hectares located in the
Berthiaume, Orvilliers and Joutel Townships, all located within the Abitibi
Harricana-Turgeon volcanic greenstone of Northwestern, Quebec. This belt hosts
several world class deposits that have produced both gold and base metals.


In February 2010 the Company entered into an option to acquire 100% interest in
3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property
located approximately 35 km. northeast of the town of Atikokan and adjoining on
strike to the north-northeast with the Osisko Mining Corp. (former Brett
Resources Inc.) "Hammond Reef" gold deposit.


Belmont (50/50) with International Montoro Resources Inc. has acquired and
explored two significant uranium properties (Crackingstone -982 ha & Orbit Lake
- 11,109 ha) in the Uranium City District in Northern Saskatchewan. The Company
also holds interests (50/50 with Int. Montoro Res.) in one rare earth mineral
claim block in the Central Mineral Belt in Labrador.


Further information can be obtained from the Company website at
www.BelmontResources.com and www.Sedar.com.


ON BEHALF OF THE BOARD OF DIRECTORS

Vojtech Agyagos, President/CEO/Director

The statements used in this Press Release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or results
could differ materially from the Companies forward-looking statements and
expectations.


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