Drill Update For Lone Star JV With Marquee Resources

VANCOUVER - Belmont Resources Inc. reported on exploration activities being carried out by Marquee Resources at the Lone Star property in North Eastern Washington State. Results from this batch of assays continue to intersect wide zones (up to 60m) of significant copper mineralization which further extend the mineralization envelope The wide zones of mineralization are interpreted to be related to sub-vertical feeder dyke that has been the conduit for upwelling magmas during rhyolite dome emplacement and mineralization.

George Sookochoff, President & CEO, said, “33 of the original 42 proposed holes have been completed, and 6 additional infill holes in the pit itself have now been added to help firm up the new resource calculation and provide further support for a potential initial open pit mining scenario. Drilling continues 24/7 and we remain on schedule for producing a new 43-101 resource estimate in H1 2022.”

The Lone Star deposit is interpreted to have elements of structural and stratigraphic control with an overprinting porphyry copper system. Structurally stacked ‘tectonic’ lenses of east dipping, closely spaced, overlapping en echelon zones of VMS-style massive sulphide have been structurally emplaced during thrusting over the basal serpentinite unit. At least eight individual zones have been interpreted and these zones range from 1-18 meters thick. Porphyry and hydrothermal fluids utilized the pre-existing structural architecture to deposit copper-gold mineralization subsequent to the earlier thrusting event. Structurally controlled epithermal gold mineralization, discordant with early base metal mineralization, has also been identified hosted in veins, shear veins and breccia zones and is interpreted to have been deposited syn-porphyry emplacement. At least three separate rhyolite sills, are fed by sub-vertical, structurally controlled, feeder dykes/zones. The mineralized sub-vertical dykes/zones are estimated to be approx. 20-40m wide, extend laterally for tens to hundreds of meters, and are vertically extensive. Identification of the mineralized dykes opens up the possibility of defining significant additional mineralization outside the flat-lying, structurally remobilized base metal mineralization that has been historically identified.