Belmont Resources Confirms Uranium and Rare Earth Element Potential at the Crackingstone Project Through Modern Re-Assaying
Belmont Pivots to Uranium and Rare Earths After Flagship Copper-Gold Drilling Fails to Deliver
The most recent news release (February 3, 2026) confirms that Belmont has completed modern re-assaying of historical (2008) drill core from its 100%-owned Crackingstone Uranium Project in Saskatchewan. The results validated the presence of bedrock-hosted uranium and, more significantly, identified a coherent Rare Earth Element (REE) system. This re-evaluation was performed using modern techniques (pXRF and VNIR) and suggests that REE mineralization is coincident with uranium in specific structural corridors. The company intends to use this data to refine targets for a 2026 drilling campaign.
The impact of this news is moderately positive but categorized as routine for several reasons: - Validation of Old Data: While the discovery of REE potential adds a "critical minerals" dimension to the project, the primary data comes from 18-year-old drill core. It confirms the system exists but does not provide new intercepts from current drilling. - Strategic Pivot: This news follows the December 17, 2025, announcement that the 2025 drilling program at the "Come By Chance" (CBC) project—previously the company's flagship—failed to intersect economic mineralization. The pivot to Crackingstone is a necessary shift to maintain investor interest after the CBC failure. - Resource Potential: The project is located in the Beaverlodge Domain, near Uranium City, a historically productive region. Validating 15.6% U3O8 grab samples and modernizing old core logs are necessary steps for the 2026 exploration season but do not yet represent a NI 43-101 compliant resource.
Belmont Resources is a Canadian explorer with a diversified portfolio. Following the failure of the Come By Chance copper-gold project in late 2025, the Crackingstone Uranium-REE Project in Saskatchewan has become the company's flagship. - Location: 6km from Uranium City, Saskatchewan, near the Athabasca Basin. - Flags: 100% ownership, excellent infrastructure (roads, power), and 10km of identified mineralized corridors. - Historical Context: Previous mining on site produced 11 tons at 2.3% U3O8.