Full size / Purple = Most favorable area for shallow intercept of brine-bearing zones with low resistivity / high conductivity.
Today, Belmont Resources Inc. announced that drilling at Kibby Basin in Nevada is expected to start after the day of giving thanks for the blessing of the harvest and of the preceding year. Happy Thanksgiving, the time for a possibly stellar lithium brine discovery has come!
Belmont estimates that it will take about a week to reach the initial target depth of 366 m (1,200 ft.), whereafter down-hole geophysics will be applied to identify the most favorable zones for lithium-enriched brine aquifers (i.e. low resistivity / high conductivity) so that sampling and testing of potential aquifers can be carried out then. It’s possible that the target depth will be increased once favorable conditions are encountered during drilling and surveying. Specialized casing and equipment will be used in the drill hole to allow the best and most representative samples to be obtained.
This time, Harris Drilling will use a RD-10 rotary drill rig, which is much bigger and stronger than the rig used to drill the previous hole (KB-3). When the steel casing was attempted to be pulled from KB-3, the rig obviously did not have the pulling force necessary to free the casing so down-hole geophysics could not be applied as such a device does not work through steel. As the hole then caved in, the drillers could not pump test the multiple aquifers encountered throughout the hole.
Below animation shows the locations of the next hole to be drilled (KB-4) and the previously drilled holes (KB-3, KB-2 and KB-1) in connection with MT resistivity survey results. It can be seen that KB-4 is within the purple area of high conductivity near surface, whereas KB-3, KB-2 and KB-1 were drilled at the edge of this area.
Full size / Locations of drill holes (Figure 1, Figure 2, Figure 3, Figure 4, Figure 5)
In October, Belmont announced an expanded drill program with plans of up to 1,463 m (4,800 ft.) of additional drilling across 4 shallow holes as already permitted within the Kibby Basin MT survey area.
In March, Belmont received a Geophysical Report which included the results of a Spartan Magnetotelluric (MT) Survey over Belmont’s Kibby Basin Property. The survey was started in January by renowned Quantec Geoscience Ltd. and covered most of Belmont’s claims. One of the best identified zones of high conductivity / low resistivity is interpreted to be 6 km long and 3.5 km wide, including a thick (up to 1 km) zone of very low resistivity (between 1 and 0.14 Ohm-meters).
Full size / See Rockstone Report #11"Ohm-m! The Divine Sounding of Resistivity" for further details on resistivity and comparisons with other lithium brine projects.
Full size / Belmont’s Kibby Basin is located just 50 km from the Clayton Valley, where large evaporation ponds represent North America’s only lithium brine operation, whereas MGX Minerals Inc. intends to deploy its rapid lithium extraction technology at Kibby in case favorable lithium brine zones are encountered with drilling. (See map online here)
Full size / Map showing the location of MGX-Belmont’s Kibby Basin, Tesla’s Gigafactory and Albemarle’s Silver Peak Lithium Mine. (See map online here)
See previous Rockstone Report #17 with comparisons to the near-by Clayton Valley, home of North America’s only lithium brine operation.
Technical Perspective
Link to updated chart (15 min. delayed): https://schrts.co/o1BKLg
Company Details
Belmont Resources Inc.
Suite 600 - 625 Howe Street
Vancouver, BC, V6C2T6 Canada
Phone: +1 604 683 6648
Email: gmusil@belmontresources.com
www.belmontresources.com
Shares Issued & Outstanding: 88,226,620
Chart
Canadian Symbol (TSX.V): BEA
Current Price: $0.05 CAD (11/21/2018)
Market Capitalization: $4 Million CAD
Chart
German Symbol / WKN (Frankfurt): L3L1 / A1JNZE
Current Price: €0.025 EUR (11/22/2018)
Market Capitalization: €2 Million EUR
Previous Coverage
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”
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 and MGX Minerals Inc. cautions 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 MGX´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the MGX´s profile on SEDAR at www.sedar.com. Please read the full disclaimers for both featured companies within the full research reports as a PDF (here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in MGX Minerals Inc. and Belmont Resources Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc. and Belmont Resources Inc. Note that neither MGX Minerals Inc., Belmont Resources Inc. nor Zimtu Capital Corp. have reviewed all of the content prior to publication and may not agree with statememts made herein.