Goldbelt Empires Announces Geochemical Orientation Survey
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2017) - Goldbelt Empires Limited (TSXV: GBE) (the "Company" or "Goldbelt Empires") is pleased to announce today it has commissioned a geochemical orientation survey (the Phase IIA exploration program) over the Farana Prospect, the Syinsorola Trend, the Northern Line Prospect, and the K3SX Prospect, located in the Company's South Morila gold concession in Mali.EurekaGeo, based in Bamako, Mali, will conduct the field work.
The Farana Prospect, Northern Line Prospect, and Syinsorola Trend are highly prospective targets Goldbelt identified in its Phase I exploration works conducted in 2015-2016.The The K3SX Prospect was identified in prior exploration works on the concession.The orientation multi-element geochemical survey (shallow auger drilling) will assist the Company in deploying its 6,000 meter scout drilling campaign planned for mid-2017.The survey team will also undertake ground reconnaissance checking over target areas, and resampling to confirm anomalous gold results from prior exploration works on the concession as described in the Company's NI 43-101.
The Farana Prospect is marked by a large potassium anomaly first identified by the airborne geomagnetic survey conducted in 2015-2016, with associated granodiorites, and is situated in an area with historic artisanal workings.The Syinsorola Trend is a string of previously undetected potassium anomalies along a line from the southeastern corner of the area and trending northwest.The Northern Line Prospect also shows a definite but previously undetected potassium signature.
Phase II exploration will drill multiple high potential targets as part of a recommended 6,000 meter campaign of scout drilling.These prospects include previously undetected major potassium anomalies that pose compelling targets, as well as previously known mineralized sites now deemed high-priority prospects enhanced by the new geophysical data set acquired in Phase I exploration.
Jonathan Challis, CEO of Goldbelt Empires, commented: "We are excited about our planned 6,000 meter scout drilling over multiple highly prospective targets in South Morilla.This geochemical orientation survey will be one of several advance missions in the run-up to drilling, and will assist greatly in the drill planning."
Jonathan Challis (C.Eng & FIMMM), CEO of Goldbelt Empires is the Qualified Person, as defined by National Instrument 43-101, who approved the scientific and technical information in this news release.
About Goldbelt Empires
Goldbelt Empires is a gold explorer focused on the West African Goldbelt, and listed its shares on the TSX Venture Exchange in October 2015.Its flagship property is the South Morila gold concession in the Republic of Mali.The South Morila concession covers an area approximately 150 km2 in size, and is located in the southern part of Mali approximately 250 km southeast of the capital of Bamako.The Company has previously announced a planned drilling campaign over multiple high potential targets in the South Morila concession.For more information also go to the Company's web site www.goldbeltempires.com.
Additional Information on Goldbelt Empires Ltd.
For more information on the business and property of the Company, readers are referred to the Company's Final Prospectus dated September 22, 2015, available at the Company's SEDAR profile at www.SEDAR.com.
The foregoing contains forward-looking information relating to the future performance of the Company.Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements.
Such risks and other factors include, among others, the actual results of development activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or exploration activities, title disputes, change in government and changes to regulations affecting the mineral industry, and other risks and uncertainties detailed from time to time in the Company's Final Prospectus and other filings with Canadian securities regulatory authorities (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Although the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
CONTACT INFORMATION
Goldbelt Empires Limited
Jonathan Challis
Chief Executive Officer and Director
United Kingdom
Telephone: +44 (78) 4120-2386
Goldbelt Empires Limited
Victor Dusik
Chief Financial Officer and Director
Executive Corporate Secretary
Canada
Telephone: +1 (604) 818-4100
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