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Belmont Resources Inc.
Summary
| Project: | Kibby Basin | |
|---|---|---|
| Deposit: | Kibby Basin | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 6/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-6-2017: Belmont Resources Inc. announces an Exploration/Drilling Update report for its Kibby Basin deposit at the Kibby Basin project. Assays of drill core samples lie between 70ppm to 200ppm Li. Further to our news release of May 29, 2017 reporting co | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Robert G. Cuffney (Not stated) | |
| ABSTRACT: | Further to our news release of May 29, 2017 reporting completion of the 1st Phase HQ (3.875”) core drilling program commencing Hole #1 on April 23, 2017. Hole KB-1c was drilled to a depth of 548 feet on the eastern basin-bounding fault, and Hole KB-2c was drilled to a depth of 1498 feet in the playa, about 5000 feet southwest of Hole KB-1c. Hole KB-2c was advanced in the playa (dry lake bed) area and encountered fine-grained clay-rich sediments: silts and muds punctuated by thin gravel intervals and some thicker fine-grained sand zones typical of playa lake sediments. Layers containing ground water were encountered at numerous depths. Core was logged, photographed, and sampled in the field and at Belmont’s field office facility in Mina, NV. Samples of clay-rich core intervals were transported to ALS Labs in Sparks, NV for analysis. The Company was pleased with the core sample assays, ranging from 70 ppm to 200 ppm Li with 13 of 25 core samples assaying over 100 ppm Li; indicating that the sediments could be a potential source of lithium for the underlying aquifers. Hole KB-1c targeted the approximate location of the basin-bounding fault as defined by a gravity survey, and was drilled east of the playa. The hole encountered unconsolidated alluvial sand and gravel deposits with minor occurences of silt, clay, and water courses. Three samples of thin clay-rich zones in the gravels were analyzed for lithium, but were not anomalous (20-40 ppm) Li. Hydro sleeve samples of formation water were collected from the bottoms of both drill holes, where brine is likely to collect, and were also delivered to ALS for lithium analysis and testing of physical parameters. Water test results are pending. | |
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