Belmont Resources Inc (TSX-V:BEA) and its joint venture (JV) partner Marquee Resources have announced the hiring of contractor Drill NV Exploration Drilling to diamond drill the planned 3,000 metre drill campaign at the Kibby Basin lithium project in Nevada.
Belmont said the 2022 Kibby drill program will test the highly-conductive geophysical anomaly and potential lithium enriched aquifer.
“We are exceptionally pleased to acquire the services of Drill NV, a well experienced drilling company which has the expertise to successfully push the drill down to the 800-1,000 meter depths where geophysics indicates a very strong conductive anomaly which has the signature for a potential lithium enriched aquifer,” Belmont Resources CEO George Sookochoff said in a statement.
READ: Belmont Resources says poised for diamond drill program at Greenwood camp asset; announces Marquee Resources investment
“It is at this depth that Albermarle, which owns the most productive lithium brine well field in the United States located in Clayton Valley, has been successfully pumping lithium brines,” Sookochoff added.
The company noted that drilling is planned to start before the end of April 2022.
Marquee Resources acquired an option to earn up to an 80% interest in the Kibby Playa claim block by issuing three million Marquee shares and C$100,000 cash to Belmont, as well as incurring C$2.5 million in exploration expenditures within 15 months of the signing of the option agreement.
Belmont Resources is engaged in the business of acquiring and re-developing past-producing copper-gold-silver mines in southern British Columbia and northern Washington State. This region is considered to have the highest concentration of mineralization and past-producing mines in western North America.
Contact Sean at sean@proactiveinvestors.com