KIBBY BASIN LITHIUM PROJECTS
Belmont owns 6 lithium projects situated in the Kibby Valley Basin totalling 2,572 acres (10.4 sq kms). The properties are located 60 kms north of Clayton Valley Basin.
5 claims blocks are available of option/jv
Kibby Playa
Kibby Basin
Kibby Conductive Anomaly
The Kibby property is comprised of 6 claims blocks totalling 2,572 acres (10.4 sq kms.) The claims are bounded major faults on the north, east and south. This faulting system have formed structural traps which potentially contain accumulated lithium rich brines.
A Gravity survey has shown the Kibby Basin to be a “drop down” closed basin which provides a catch basin for lithium bearing ash and gravels over millions of years.
Magnetelluric (MT) Survey (<2 ohms) which measures the conductivity of material (lithium brines are highly conductive), indicates a large highly conductive anomaly beneath the Playa lake bed at surface which may be the signature for a lithium brine.
Marquee Resources Options Kibby Claim Block
On November 2021, Belmont announced a Option/JV agreement with Marquee Resources (ASX.MQR) for the Kibby Block, one of six claim blocks on the Kibby Basin.
The agreement terms are for Marquee to issue Belmont C$100,000 cash upon signing (completed), issue 3,000,000 Marquee shares (1,000,000 issued as of December 10, 2021) and incur C$2,500,000 in exploration expenditures within 15 months of the signing of the Option Agreement (see NR https://belmontresources.com/belmont-signs-option-agreements-with-marquee/)to earn up to an 80% interest in the claim block.
Marquee is planning to drill in Q1 2021.
Initially 3 drill holes are planned in Q1 2021 on the Kibby JV Claim Block.
Drill hole KB-5 will target a very high conductive (low resistivity) target at a depth of 800 meters.
Drill holes KB-6 & KB-7 will target a very high conductive (low resistivity) targets at a depths of 500 and 1,100 meters.
The Kibby Basin
The increased interest in lithium brines has also led to increased research into the origin of lithium brines in the United States and elsewhere.
Belmont owns 100% of the Kibby
Basin Lithium Project located 60kms north of Clayton Valley Basin.
Kibby has similar criteria for potential lithium deposits to that of the Clayton valley to the south.
1) Major catch basin
2) Basin has structural traps and is closed with no outlets for drainage
3) Associated igneous or geothermal activity,
4) Suitable lithium source rocks,
5) One or more adequate aquifers
Kibby Basin Lithium Project Summary
• A pull‐apart drop down closed basin.
• Basin has structural traps and is closed with no outlets for drainage.
• The surrounding range contains the same and closely age‐correlative lithologic units to those
identified around Clayton Valley.
• The setting of Kibby Flat indicates a basin large enough to develop layers that could act as aquifers as
well as allow for development of a favorable hydrogeologic setting to host lithium‐bearing brines.
• Gravity survey suggests a basin with sufficient depth to provide enough volume of Quaternary
sediments to host aquifers of sufficient extent.
• Geothermal indicators suggest an area with locally higher heat‐flow.
• Groundwater is present and widespread.
• Geophysical survey identified large conductive anomaly that may represent a potential large target for Li‐brines.
Permitted for Water
The Kibby Basin lithium property is fully permitted by the state of Nevada to extract a maximum2,896 acre-feet (944 million gallons) annually of water for brine processing and production of lithium compounds.
Obtaining a water permit for the Kibby Basin lithium project was a major milestone for Belmont where, because of the desert conditions in the region, water is of major importance to any potential mining operation. The Clayton Valley Basin for instance is over-appropriated (current water rights are in excess of water volumes available for an average year) and obtaining water rights for proposed operations is a hurdle that several companies in the Clayton Valley Basin have yet to overcome, even in their advanced stage of development.
Cypress Development (TSV:CYP) recently paid $3,000,000 for a water permit in Clayton Valley (Cypress NR) which allows for the beneficial use of 1,770 acre/feet of water annually for mining, milling and domestic use.
Permitted for Drilling
The Kibby Basin lithium property is currently permitted for drilling to test the “Lithium Brine target”