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CALGARY, ALBERTA--(Marketwired - Jan 22, 2016) - Goldbelt Empires Limited (TSX VENTURE:GBE) (the "Company" or "Goldbelt Empires") announces the achievement of a key exploration milestone, and encouraging results, from new geophysical data now processed. The data was acquired as part of Goldbelt's recently completed airborne magnetic and radiometric survey over the Company's South Morila gold concession area in Mali, West Africa.
See Figure 1 (total magnetic intensity reduced to the pole) and Figure 2 (Ternary radiometric plot, (K - red, Th - green, U - blue).
To view Figure 1, click on the following link: http://media3.marketwire.com/docs/0602a.jpg
To view Figure 2, click on the following link: http://media3.marketwire.com/docs/0602b.jpg
New Resolution Geophysics ("NRG") conducted the airborne survey and processed the data. The magnetic and radiometric data obtained were processed into grids using Geosoft™ and NRG's own proprietary software. Data enhancement filters such as reduction to the pole, analytical signal, first vertical derivatives and continuation filters were applied to the total magnetic intensity grid to enhance anomalies. The radiometric data were also gridded to produce the concentration maps of K, Th, and U, additionally, ratio maps of the three elements and a ternary image was produced.
The images of the data produced show that the South Morila licence can be divided into three discreet regions:
The Company's geologists and consultants are now working towards utilising this new geophysical information along with the existing geological and structural interpretations and combined with identified zones of mineralisation, both geochemical and artisanal gold workings, to generate a prospectivity map.
Jonathan Challis, CEO of Goldbelt Empires, commented: "The completion and processing of the airborne magnetic and radiometric surveys are key milestones in the South Morila exploration program and we are encouraged that these positive first results from the geophysical survey have significantly enhanced our understanding of the exploration potential and geology of the region. We continue to unlock the value potential of South Morila which had not, until now, been surveyed at such a high resolution. Detailed interpretation of the data will commence immediately and, once integrated with the existing geology, geochemistry and mineral occurrences, target areas for field reconnaissance will commence."
Jonathan Challis (C.Eng & FIMMM), CEO of Goldbelt Empires, and Andrew Dacey (R.P.Geo & FIMMM), its technical advisor, are the Qualified Persons, as defined by National Instrument 43-101, who have approved the scientific and technical information, and verified the data, in this news release.
About Goldbelt Empires
Goldbelt Empires is a gold explorer focused on the West African Goldbelt, and has recently listed its shares on the TSX Venture Exchange. Its flagship property is the South Morila gold concession in the Republic of Mali.
Additional Information on Goldbelt Empires Ltd.
For more information on the business and property of the Company, readers are referred to the Final Prospectus, available at the Company's SEDAR profile at www.SEDAR.com.
This press release contains forward-looking information. More particularly, this press release contains statements concerning the results of the airborne survey and the conclusions in respect of the geophysical properties and trends of the South Morila gold concession drawn after initially processing such results, the use of such geophysical information by the Company and the timing and completion of detailed interpretation of the data and the identification of potential field reconnaissance. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that 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.
Forward looking information involves known and unknown risks, uncertainties, assumptions (including, but not limited to, assumptions on the performance and financial results of the properties of the Company and certain other risks detailed from time to time in the Company's public disclosure documents including, without limitation, those risks identified in the Final Prospectus which is available on the Company's SEDAR profile at www.sedar.com) and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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.
Goldbelt Empires Limited
Chief Executive Officer and Director
+44 (78) 4120-2386
Goldbelt Empires Limited
Chief Financial Officer and Director
Executive Corporate Secretary
+1 (604) 818-4100