Belmont Resources Inc V.BEA

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Belmont Resources Inc (2)
Symbol
C : BEA
Shares Issued
42,957,153
Close 2011-01-12
C$ 0.14
Recent Sedar Documents

Belmont, Dorex receive Lumby/Bufo technical report

2011-01-13 12:00 ET - News Release
Also News Release (C-DOX) Dorex Minerals Inc (2)


Mr. Gary Musil of Belmont reports
BELMONT RECEIVES NI 43-101 REPORT ON LUMBY/BUFO PROPERTY, ATIKOKAN, ONTARIO
Belmont Resources Inc. and Dorex Minerals Inc. have received a National Instrument 43-101 technical report on the 2010 drilling program which includes significant historical information of the mineral potential of the Lumby/Bufo property consisting of 23 contiguous claims (3,040 hectares) located approximately 40 air kilometres northeast of the town of Atikokan, Ont.
Raymond A. Bernatchez, PEng, consulting geologist of Atikokan, Ont., an independent qualified person under NI 43-101, reported the following: "The property and area has been of interest to mineral exploration companies since the discovery of a high-grade, gold-bearing float boulder at the west end of Lumby Lake by the Geological Survey of Canada in 1937. This boulder was reported to contain several ounces of gold per ton.
"The regional and local geology of the property and area consists of bimodal sequences of felsic, intermediate and mafic volcanic rocks which are geological environments conducive for the deposition of volcanic massive sulphide-style (VMS) deposits. The presence of gold mineralization within this same stratigraphy strongly indicates the potential for the discovery of polymetallic-type deposits.
"Airborne and ground geophysical surveys have identified up to five distinct, east-west-striking conductive horizons on the property. Mineralization uncovered within the most southerly (VLF EM) conductive zone, the Lumby-Herontrack-Spoon (LHSL) horizon, has confirmed the presence of multiple layers of sulphide mineralization containing copper, zinc, lead, silver and gold.
"The Belmont 2010 drilling program in the southwest corner of the property around Bufo Lake has confirmed a new east-west-striking gold system that extends eastward to the LHSL horizon in the Lumby-Spoon Lake area. The gold and base metal mineralization is located in the South Lumby Lake greenstone belt near its contact with the Marmion batholith/diversion stock.
"Further exploration is most definitely warranted on the property, and that all five east-west-striking geophysical electromagnetic trends and other mineralized zones should be explored. A two-phased multidisciplined exploration program is proposed."
The technical report has been filed on SEDAR.
The Lumby-Bufo property is contiguous with and on strike to the north-northeast with the Hammond Reef deposit, where Osisko is presently focused on expanding its gold resources. A preliminary assessment (PA) study was completed on Hammond Reef on Nov. 12, 2009, resulting in an NI 43-101-compliant inferred resource estimate of 6.7 million ounces of gold (259.4 million tonnes at 0.8 gram per tonne gold, using a 0.3 g/t Au cut-off).
This press release has been reviewed and approved by Mr. Bernatchez, PEng, consulting geologist and a qualified person as defined in NI 43-101.
We seek Safe Harbor.