Kibby Basin Drilling –Preliminary Assays:
Further to our news release of August 27, 2018 Belmont and MGX Minerals Inc. (CSE: XMG) have received assay results from 125 samples collected from the top 1270 feet (mud rotary section) of hole KB-3. Anomalous concentrations of lithium occurred between 960 and 1270 feet. The section between 1110 and 1210 feet averages 415 parts per million (“ppm”) Li with a high of 580 ppm lithium.
The borehole targeted the southern portion of a large robust MT conductor, which may represent saturated sediments containing lithium-rich brines. The hole drilled through lacustrine playa sediments – dominantly calcareous clays and silts grading to lithified claystone’s and siltstones at depth. Sand and gravel zones, which may represent brine-bearing aquifers, were encountered at depths of 150-170 feet, 210-230 feet, 260-300 feet, and 900-920 feet, where a potentially major aquifer in cobble gravel was intersected.