Belmont Resources Inc (TSX-V:BEA) has told investors that the first drill program at its 100% owned Come By Chance (CBC) copper-gold property located in southern British Columbia has been completed.
The company said a total of 1,970 metres were drilled in six holes. Core logging, geotechnical work, and sampling are ongoing and assays from the drill program will be released when they are received, expected to be in four to six weeks, it added.
“We are excited to have successfully completed Phase I of our maiden drill program on our CBC project,” the company’s president and CEO George Sookochoff said in a statement. “The upcoming assay results will provide us with valuable feedback in regards to determining the correct geophysical signatures and geology which best correlate to mineralization for Phase II drilling at Eagle and Hardy Mountain zones.”
READ: Belmont completes five drill holes at Come By Chance project in southern British Columbia
The company noted that the Phase I program tested three initial zones - Betts, Iron Chief and Lady M. - for skarn/epithermal potential along the northwest-southeast trending Eagle Fault. The first holes targeted the known Betts zone at depth, with subsequent holes targeting various magnetic, chargeability, and resistivity anomalies. The targets were traced to surface sampling where possible, it added.
The CBC property is situated in the Greenwood mining camp, considered to be one of the highest concentrated areas of past-producing mines in North America.
Although the Phoenix mine was the major producer, some of the smaller mines were also productive from several different types of deposits. From 1900 to 1975 production from these 26 principal mines was over 600 million pounds of copper and 1.4 million ounces of gold.
The CBC property, 3 kilometres to the southeast of the Phoenix deposits, is on a comparative geological trend and hosting skarn, epithermal, volcanogenic, and massive sulphide mineralization.
The property contains mineralized skarns and epithermal zones, which are potentially associated with a concealed porphyry intrusive of copper/gold mineralization.
Belmont said 2020 and 2021 geophysical surveys further support the potential for discovering a deep‐seated copper/gold porphyritic, bulk tonnage, mineral resource.
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 the author at stephen.gunnion@proactiveinvestors.com