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 ten prospecting licences in this area, covering 360 sq kilometres.
Following an extended period of exploration, 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
Belmore Resources - Clare Project
Belmore Resources has 100% interest inten licenses in Co. Clare, Ireland for a total land package area of 360 sq km.
The licences are located in Ireland's most prospective carboniferous region and are host to the historical Ballyvergin copper deposit discovered in 1957.
The location of the licenses can be seen from the map or further details of the holdings can be found from the Department of Communications, Energy and Natural Resources' Exploration and Mining Division.
Lundin Mining Agreement
Exploration activities are being accelerated following the joint venture agreement with Lundin Mining Exploration secured in February 2009. Lundin is a wholly owned subsidiary company of TSX listed mid-tier miner - Lundin Mining Corporation.
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.
- Lundin completed its initial obligated expenditure requirement of €700,000 and has decided to continue its earn-in at an accelerated pace.
- There are currently four rigs drilling on the Kilbricken Zinc- Lead- Silver discovery acreage being operated by Lundin.
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 |
CapitalOrdinary Shares in Issue; 38,110,201; 100% |
Major Shareholders
| Directors shareholdings | 9,781,486 | 25.67% |
| Starvest Plc | 5,885,164 | 15.44% |
| Global Finance and Petroleum Products Inc | 1,735,183 | 4.55% |
| Panares Resources Inc | 1,428,572 | 3.75% |
Related News
14/04/10 - A Burgeoning Partnership With Lundin Underpins Belmore’s Zinc Potential In Ireland, But There Are Other Deals In The Offing Too04/08/09 - Belmore’s Zinc Property In Ireland Continues To Show Promise, Under The Able Stewardship Of Lundin Mining
05/05/09 - Belmore Resources Expects Great Things From Lundin Mining As Its Partner On Its Irish Zinc Licences
Most Recent Statement
28/05/10 - Interim Results21/05/10 - Significant drilling results at Kilbricken
30/04/10 - Further encouraging drilling results at Kilbricken
23/04/10 - Belmore Resources (Holdings) Plc
08/04/10 - Result of AGM
05/03/10 - Notice of Annual General Meeting