Belmont Resources Inc (TSX-V:BEA) provided an update on its Belmont-Marquee Resources Kibby Joint Venture (JV) 3,000 meter (m) drill program in Nevada, saying drill hole KB22-01 has been completed to a total depth of 880m and has targeted a highly conductive geophysical (magnetotelluric - MT) anomaly, which has the signature for a potential lithium enriched brine aquifer within the Kibby Playa (dried lakebed).
The junior mining and exploration company said the objective of Kibby drill program is to delineate a lithium-enriched brine aquifer deposit in the Kibby Basin that is amenable to mining using wells to extract brine for processing to a saleable lithium hydroxide monohydrate (LiOH∙H2O) product.
“From drilling KB22-01 our drillers have now developed a system which enables them to successfully drill through various stratigraphic layers efficiently at depth and with minimal down time,” Belmont Resources CEO George Sookochoff said in a statement.
READ: Belmont Resources JV partner Marquee Resources reports 'wide mineralized envelope' in final assay results from Lone Star copper-gold project
“With this new system our drillers are now very confident that they can effectively drill KB22-02 and KB22-03 to depths of up to and even deeper than 1,000 meters if necessary,” Sookochoff added.
Belmont noted that Albermarle, which owns the only lithium producing mine in North America, has been extracting lithium brines from more than 1,000m depths in Clayton Valley basin.
As well, the company said drilling on hole KB22-02 started on August 28 and is progressing much quicker than KB22-01, with the hole currently reaching a depth of 365m.
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.
Contact Sean at sean@proactiveinvestors.com