Phoenix Metals Begins Drilling Near Belmont Resources Properties
News related to:Belmont Resources Inc · 2 min read
Belmont Resources Inc. has welcomed the arrival of Phoenix Metals Corp. to the Greenwood Gold Camp, as the latter has commenced a well-funded exploration program in the region. Phoenix Metals' 2026 exploration program, supported by a NI 43-101 Technical Report from P&E Mining Consultants Inc., includes 148 drill holes covering a total of 55,285 meters. This extensive drilling is planned to take place across seven targets within the Greenwood Precious Metals Project, with a significant portion of the work directly adjacent to Belmont's properties.
According to the report, 27,827 meters across 67 drill holes are scheduled to be drilled along the JD-Golden Crown Trend, JD Deep, and Golden Crown Deep targets, which are located near the historic Golden Crown underground mine, adjacent to Belmont's Athelstan-Jackpot ("A-J") Gold property. Additionally, 3,835 meters across 12 drill holes are planned for the Lexington target, situated along the No. 7 Fault trend, which is directly across the international border from Belmont's Lone Star property in Washington State.
Phoenix Metals Corp. completed its initial public offering on July 9, 2026, and subsequently exercised a portion of the underwriters' over-allotment option on July 24, 2026, raising a total of $46,402,625 in gross proceeds. This substantial investment underscores the company's commitment to exploring the Greenwood Gold Camp, a region known for its historical high-grade production.
George Sookochoff, Chairman of Belmont Resources Inc., expressed enthusiasm about the exploration efforts by Phoenix Metals.
The A-J Gold property, 100% owned by Belmont, hosts two past-producing gold mines, the Athelstan and Jackpot, yielding a total of 7,600 ounces of gold and 9,000 ounces of silver. The property lies within the same Greenwood camp as Belmont's Pride of the West and CBC Copper-Gold properties. The Lone Star Copper-Gold Project, held 50% by Belmont in joint venture with Marquee Resources Ltd., also benefits from the proximity of Phoenix Metals' exploration efforts.
Belmont Resources Inc. has no ownership interest in, or operational involvement with, Phoenix's Greenwood Precious Metals Project. The information regarding Phoenix's property, financing, and exploration plans in this release has been derived solely from Phoenix's public disclosure, including its NI 43-101 Technical Report (Report No. 490), and has not been independently verified by Belmont.