Belmont Resources Inc (TSX-V:BEA) has revealed encouraging new drill results from its Lone Star copper-gold project in Washington State that show multiple zones of mineralization.
Drilling intersected wide zones of high-grade copper mineralization of up to 18.5%, with elevated gold up to 10.4 grams per ton (g/t) and silver up to 106 g/t.
A standout intercept included 44.2 metres at 1.3% copper, including 19.8 metres at 2.4% copper in one hole, and 15.5 metres at 3.7% copper and 1.6 g/t gold in another.
READ: Belmont Resources says option partner Marquee Resources completes first two drill holes at the Lone Star project in Washington State
Belmont is hoping to put out an update to the 2007 mineral resource estimate, which will be part of a preliminary economic assessment study for the project.
Of the seven holes drilled in the recent program, Lone Star has received assay results for two holes.
Drilling is expected to be completed by the first quarter of 2022.
The Lone Star property is located in northern Washington State on the northeastern tip of the Republic Graben, which hosts several gold and copper mines.
Australia’s Marquee Resources has an option to earn up to 80% of Lone Star in the form of a joint venture agreement with Belmont.
The two companies will make a joint production decision.
Vancouver-based Belmont Resources acquires and re-develops past producing copper-gold-silver mines in southern British Columbia and northern Washington State.
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