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- Belmont Mining District of Nevada lies in Nye County, about 40 miles north of Tonopah and 14 miles east of the 10 million ounce Round Mountain Gold Mine, in the Walker Lane Mineral Belt.
- Bonanza has acquired and currently controls 500 acres (200 hectares) through the staking of 23 contiguous mineral lode mining claims.
- Silver was discovered at Belmont in 1865 and was mined continuously to 1891, with intermittent production from 1920 to 1951. During this period, the Belmont Mining District produced approximately 15 million ounces of silver at bonanza grades, estimated to have averaged 60 ounces of silver per ton, with some stopes having ore values in excess of 250 ounces of silver per ton.
- Silver and by product gold and copper were mined from steeply dipping veins hosted in shales and limestones.
- The Belmont property is located immediately south of the main workings and covers the strike extension of the veins, where the veins are overlain by young gravels. The potential for vein type targets and bulk tonnage targets will be investigated.
- Bonanza personnel believe that faulting has displaced the southern portion of the Belmont District and further mineralization may be discovered below the gravels. Exploration efforts in 2004 will focus on encountering the extension of the Belmont veins under these recent sediments.
- An exploration program leading up to exploratory drilling is underway and includes mapping, data compilation and target definition.
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