ZURICH, SWITZERLAND / ACCESSWIRE / February 23, 2017 / Today, Belmont Resources Inc. (TSX.V: BEA) reported to be in the process of engaging an experienced lithium brine drilling contractor to start the first phase of a deep drilling program at Belmont's Kibby Basin Property in Nevada. The property is located about 65 km north of the Clayton Valley, i.e. closer to Tesla Motors' Gigafactory #1 near Sparks, Nevada.

A 2016 gravity survey has significantly enhanced the potential for the basin to host lithium-bearing brines in a geologic setting similar to the continental brine model ascribed to the Clayton Valley.

Drilling is expected to start as soon as possible, depending on availability of drill crews and access to the drill sites following an unusually wet winter. A total of 4 holes over approximately 457 m length have been recommended for the phase-1 drilling program, of which 2 holes have been planned to a depth of approximately 152 m (500 foot) and the 2 other holes to be drilled to a depth of about 76 m (260 foot).

With a current market capitalization of $3 million CAD, Belmont now offers substantial appreciation potential in case the upcoming drill program turns out positive. Rockstone is looking forward to the upcoming drill program as a sampling of brine may result in the discovery of lithium with grades similar to the Clayton Valley when it started lithium production in the 1960s (estimated at >400 mg/L lithium). This would be a major achievement for Belmont, its shareholders and Nevada as a whole.

The full report can be accessed with the following links:

English (PDF): http://rockstone-research.com/images/PDF/Belmont5en.pdf

English (web version): http://rockstone-research.com/index.php/en/research-reports/2527-Belmont-getting-ready-to-drill-for-untapped-lithium-brines-at-Kibby-Basin-in-Nevada

German (PDF): http://rockstone-research.com/images/PDF/Belmont5de.pdf

Disclaimer: Please read the full disclaimer within the full research report as a PDF as fundamental risks and conflicts of interest exist.

SOURCE: Rockstone Research

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