Belmont Resources Receives Drill Permit For Crackingstone Uranium-Ree Project, Saskatchewan

Core Insights - Belmont Resources Inc. has received a multi-year drill permit for its Crackingstone Uranium–REE Project, allowing for extensive exploration activities [1][3][11] - The project is located near Saskatchewan's uranium-rich Athabasca Basin, benefiting from excellent infrastructure and proximity to Uranium City [7][12] - Historical drilling results from 2008 confirmed uranium mineralization across all 20 holes, indicating significant potential for renewed exploration [4][5] Permit Details - The drill permit, known as Crown Land Work Authorization (CLWA), is valid until November 30, 2028, and covers the Crackingstone Project area [2] - The authorization allows Belmont to conduct various exploration activities, including drilling and geophysical surveys [1][2][8] Historical Context - The 2008 drilling program was successful, with all holes intersecting uranium mineralization, but exploration was halted due to the 2008 financial crisis [4][5] - Modern geophysical data supports the potential for significant mineralized corridors, warranting renewed drilling efforts [5][6] Project Preparation - Belmont is finalizing drill locations and preparing for the 2026 drilling program, including contractor selection and access route optimization [6][15] - Preparatory work involves integrating geological and geophysical data into the final drill layout [6] Mineralization Potential - The Crackingstone property has shown historic grab sample grades of up to 15.6% U₃O₈, with previous mining yielding 11 tons at an average grade of 2.3% U₃O₈ [10] - Three major mineralized corridors have been identified, totaling 10 kilometers in length, associated with high-grade uranium occurrences [10]