RSS UpdatesCompany Information for Belmore Resources (Holdings) plc
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 PLUS; BEL
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Company Statement
Belmore is a PLUS quoted minerals exploration company with a focus on projects in Ireland. Currently, priority is being given to the Company's zinc exploration properties in County Clare. Belmore has an interest in eleven prospecting licences in this area, covering 393.83 sq kilometres.
Following an extended period of exploration, in April 2008 the Company discovered a new high grade zinc and lead mineralised zone on its County Clare licences. Results include an intersection of 18 metres of massive sulphide at the base of the Waulsortian Reef. The top part of this massive sulphide consists of virtually barren pyrite but the bottom part contains high-grade zinc and lead sulphides as well as pyrite and arsenopyrite. The interval from 448.1 to 458.1 metres gives the following composite result: 10 metres at 13.84% Zinc, 5.52% Lead and 62.84 gm/tonne Silver.
In May 2009 the Company discovered Hole 09-3679-06 which intercepted massive sulphide mineralisation approximately 50 metres west of the original discovery hole 08-3679-04. Hole 09-3679-06 returned 21.25 m (21.2 m true thickness) grading 11.0% Zinc, 4.8% Lead, 94.4 gm/tonne Silver. Including 9.55 m (9.53 m true thickness) grading 18.0% Zinc, 7.2% Lead, 143.8 gm/tonne Silver.
Exploration activities on the County Clare Licences have been accelerated following the joint venture agreement with Lundin Mining Exploration Ltd., a wholly owned subsidiary company of Lundin Mining Corporation, a diversified base metals mining company.
Company Diagram
Clare Licences
Current Operations
Overview
- Belmore has 100% interest in 11 licences in the Clare Blocks covering 392.75 sq kilometres.
- The Clare licences are located in Ireland’s most prospective Carboniferous region and are host to the historical Ballyvergin copper deposit discovered in 1957 and the Milltown Zinc/Lead deposit discovered in 1995.
- Highly qualified and experienced management team with a track record in the Irish and international resources industry.
- The Company operates with low overheads.
Clare Blocks - Kilbricken Discovery
- High grade zinc and lead mineralisation discovery on Prospecting Licence 3679 near the old Kilbricken Silver Mine in February 2008.
- The drillhole intersected 18 metres of massive sulphide at the base of the Waulsortian Reef.
- Results include 10 metres at 13.84% Zinc, 5.52% Lead and 62.84 gm/tonne Silver.
- Exploration activities have been accelerated following the joint venture agreement with Lundin mining exploration secured in February 2009.
- Lundin’s agreed initial expenditure will be €700,000 by June 2009 allowing for an active drilling and associated exploration programme over the coming months.
Recent Updates
- Entered into a joint venture with Lundin Mining Exploration, a wholly owned subsidiary of Lundin Mining Corporation. Lundin Mining Corporation is a mid-tier diversified base metals mining company listed in the TSX with a market cap of circa Cd$1 billion.
- According to the agreement:
- Lundin has a right to earn up to a 70% interest in the Prospecting
Licences that Belmore currently holds in Co. Clare.
- To earn the 70% interest Lundin needs to spend up to €14.7 million
over a number of years.
- Initial expenditure will be €700,000 by June 2009. - A very active drilling programme on the Prospecting Licences in Co. Clare is currently being carried out. The drillholes are planned to further evaluate the Kilbricken Discovery on PL 3679 by step-out drilling away from the discovery hole. The programme will also test targets identified on Belmore’s other licences.
Geographical Spread
Ireland
Board of Directors and Key Management
| Ian Forrest - Chairman |
| Mr. Forrest has 30 years experience with public companies in the resource sector having been involved in promotion, financing, exploration, production and company management. Notable projects include Gulfstream's North Dome gas discovery in Qatar, Reunion Mining's Scorpion zinc, Namibia, which was subsequently developed by Anglo American and Ocean Diamond Mining which pioneered the independent diamond dredging industry off the west coast of southern Africa. |
| He is currently a director of several resource companies in the Oil & Gas and mining sectors. |
| Patrick G. Mahony - Finance Director |
| Mr. Mahony is a Dublin based Chartered Accountant, financial consultant and company secretary. He has over 20 years experience in the natural resource sector holding executive positions with Irish companies active internationally. |
| Dr. John Colthurst, PGeo - Senior Geologist |
| Dr. Colthurst has 30 years experience working as a geologist in Ireland. He is familiar with all aspects of Irish geology and geomorphology and has worked in almost every county in Ireland. During the 1990’s he ran an exploration programme in the East Clare area for Central Mining Finance (a subsidiary of Charter plc.). He now runs the exploration programme for Belmore Resources in the same area. |
| He is a certified European Geologist, a Professional Geologist and Founder Member of The Institute of Geologists of Ireland. He is currently the President of The Irish Association for Economic Geology (IAEG) and is also member of The Mining Heritage Trust of Ireland. He has served as the nominee of the Irish Association for Economic Geology on the Royal Irish Academy’s National Committee for Geology. |
Company Address103 Rathfarnham Wood
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Additional Address/Key ContactCorporate Advisor - Rivington Street CF |
CapitalShares outstanding: 33,390,200
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Related News
04/08/09 - Belmore’s Zinc Property In Ireland Continues To Show Promise, Under The Able Stewardship Of Lundin Mining05/05/09 - Belmore Resources Expects Great Things From Lundin Mining As Its Partner On Its Irish Zinc Licences
Most Recent Statement
17/02/10 - Placing Update29/01/10 - FINAL RESULTS
25/01/10 - Kilbricken Drilling Results
27/10/09 - Share Placement
03/08/09 - Further Zinc-Lead-Silver mineralisation encountered by drilling
29/05/09 - INTERIM RESULTS