Posted in | Gold | Mining Business

Goldbelt Empires Achieves Key Exploration Milestone, Encouraging Results from South Morila Gold Concession

Goldbelt Empires Limited (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.

OVERVIEW:

  • Processed data now received from recent 1,667 line km airborne magnetic and radiometric survey over 100% of the Company's South Morila gold concession.
  • Initial interpretation of the data identified a number of compelling geophysical trends and potential targets.
  • Preliminary magnetic data has identified three distinct structural domains within the licence that include both a number of NE trending structures and areas representing potential intrusive bodies (fig 1).
  • Radiometric data, in particular the potassium signature, has identified three zones of interest (fig 2).

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:

  • A structurally complex northern zone showing a number of northeast trending structures along with a series of northwest trending features, possibly representing dikes or sills,
  • a central, likely, granitic zone, and
  • a southern zone thought to comprise dominantly of metasediments and intrusives.

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.

Source: Goldbelt Empires Limited

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