The geology over the co. Clare licenses broadly follows an East – West striking synclinal structure of sedimentary layers. This means that in the North of the block, the layers are shallow dipping to the south. The most prospective geological formation to find mineralization is at the base of the Waulsortian reef. During 1995/1996, in the region of Milltown a [currently non-compliant] resource of 400,000t of ore @ 12% Zn + Pb was delineated at the base of the reef at an average depth of between 38 and 60 m below surface. At this point the Waulsortian reef is exposed on surface.

In April 2008, Belmore Resources Plc. announced the discovery of new mineralization in the region Kilbricken. While previous holes had been drilled in this area, none of them had tested the base of the reef which is found to be at approximately 450m depth, thereby confirming the that the Waulsortian keeps dipping to the South at this point.

Stratigraphy

The stratigraphy on the Clare licences is typical of that found in all Irish carbonate hosted /SEDEX deposits:

	Super-Reef of Calcarenite and Cherty Calcarenite
	Waulsortian Reef which thickens from north to south, 170 metres in north to at least 285 metres in south. Patchy partial dolomitisation.
	Argillaceous Bioclastic Limestone, 110 to 120 metres thick above BV shale marker.
	Ballyvergin Shale, 5 – 6 metres thick.
	Ringmoylan Shale and Mellon House Beds, 37 – 42 metres thick
	Old Red Sandstone

Belmore Resources has an interest in eleven licenses in Co. Clare, Ireland for a total land package are of 393.83 sq km. Six of these licenses are held by Central Mining Finance (CMF) with whom Belmore entered into a 50% joint venture agreement on the 20th of March 2002. From the start of this joint venture agreement, Belmore has and continues to earn a further interest in these properties by financing all exploration expenditure. The remaining five licenses are held directly by Belmore Resources. The tenure is detailed as follows:

The location of these 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

The earliest evidence of mining in Ireland is provided by Bronze Age (1,300 BC) copper mines at Mount Gabriel in Co. Cork, southwest Ireland. Some copper, lead and silver was also extracted during an extended period in the 19th century however; Ireland was not renowned for its mining industry. In 1856, the director of the Geological Survey of Great Britain, Sir Roderick Murchison even declared the country to be devoid of minerals of any worth. However, since the 1950s the country has undergone a mining boom. This was sparked initially by the discovery of the Ballyvergin copper mine which is situated in the on PL 3787 in the North of Belmore's Co. Clare land package. It was given greater impetus by the discovery of the Tynagh and Silvermines zinc, lead and silver deposits in 1961 and 1962 which lie approximately 40km to the North East and 40km to the East of Belmore's licenses respectively.

More recent exploration on the licenses was started in 1994 by Central Mining Finance (CMF) of London and the work was overseen by Dr. John Colthurst. CMF then entered into a joint venture with BHP Billiton in 1999. During this period, regional airborne geophysics was flown and substantial drilling was carried out on prospective targets. In 1995/96 the 400,000t resource (currently non-compliant) grading 12% combined zinc and lead near Milltown was delineated. When BHP Billiton ceased mineral exploration activity in Ireland, the 50% stake in the Clare licenses was ceded to Mr. George Emo who then transferred this 50% stake to Belmore Resources Ltd on the 20th of March 2002. Belmore Resources (Holdings) Ltd. was then incorporated and launched on OFEX on the 30th of March 2005 as a vehicle to finance exploration activities on these licenses and other prospects in Ireland.