Belmont Resources Inc (TSX-V:BEA) has said it is pushing towards delivering an updated 43-101 compliant mineral resources estimate for its Lone Star copper-gold project in Washington with the completion of its Phase 1 drill program.
The drill program at the project, which is a joint venture with Marquee Resources, was designed to validate the historical drill hole database and resource model, deliver a 43-101 compliant mineral resources estimate, and test for extensions to the historical resource.
Belmont said it has also received the latest drill results from the project, with highlights including intercepts of 35.1 metres (m) at 1% copper equivalent from 41.2 m, including 4.6 m at 2.8% copper equivalent, and 79.9 m at 0.9% copper equivalent from 97.5 m, including 7.6 m at 3.2% copper equivalent.
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Final results from the drill program are expected in about four weeks.
Belmont CEO George Sookochoff said in a statement that the company was not disappointed with its decision to expand its drill program from the initial planned 2,500-metre drill program.
“As drilling progressed and we continued to receive good drill results as we extended the historic resource envelop, we let the drilling go on for an additional 5,388 metres,” he said. "With drilling now complete we look forward to delivering an updated and robust 43-101 compliant resources estimate for the Lone Star deposit.”
Belmont Resources is a junior mining and exploration company engaged in the business of acquiring and re-developing past-producing copper-gold-silver mines in southern British Columbia and northern Washington State.
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