Vancouver, British Columbia–(Newsfile Corp. – February 5, 2018) – Goldbelt Empires Limited (TSXV: GBE) (the “Company” or “Goldbelt Empires“) announced today the submission of an application to renew its exploration license over its South Morila gold concession area in Mali, West Africa, and the initial results of its geochemical soil sampling and orientation survey.
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The Company previously reported geophysical survey results in its South Morila concession and identified six target prospects, and previously reported the mobilization of a geochemical orientation survey over four of these prospects (see below). A total of 240 samples were collected from the “B Horizon” within the soil profile and submitted to SGS laboratories in Bamako, Mali for analysis. Sample depths were commonly 50-70cm from surface with depths the greatest in areas where agricultural and horticultural activities were observed. One detailed soil grid was completed over the Farani prospect area, with orientation and verification soil sampling over the Northern Line, Syinsorola Trend, and K3SX prospect areas. The laboratory results could not be reconciled with the historic auger samples collected by Anglogold. Auger sampling was at depths of up to 3m and it is now believed that the methodology used for the soil survey was not appropriate. The Company continues to review results to date and its exploration program.
Andrew Dacey (R.P.Geo & FIMMM), the Company’s technical adviser, 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, listed on the TSX Venture Exchange. For more information also go to the Company’s web site www.goldbeltempires.com. 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
Forward Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities legislation including, among other things, the Company’s exploration license and the results of the Company’s geochemical soil sampling and orientation survey. Generally, forward-looking statements can be identified by the forward-looking terminology such as “plans”, “expects”, “anticipates”, “believes” and similar expressions and statements related to matters that are not historical facts. Various assumptions are typically applied in drawing conclusions or making forecasts or projections set out in forward looking statements. Those assumptions are based on information currently available to the Company, including information obtained by the Company from third-party sources. The Company’s assumptions include, but are not limited to, the appropriateness of the soil survey methodology and the accuracy of the Company’s geophysical survey and laboratory results. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks associated with general economic conditions, loss of markets, inability to obtain regulatory approvals and other regulatory matters. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
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 release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States of America.
Goldbelt Empires Limited
Jonathan Challis, CEO
Telephone: +44 (78) 4120-2386
Marc Bamber, CFO
Telephone: +44 (77) 2596-0939
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES