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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: John McCarthy	11/15/2006 11:28:52 PM
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Goldbelt Intercepts 23m@15.51g/t au at Belahouro Posted on : Thu, 16 Nov 2006 00:12:00 GMT \| Author : Goldbelt Resources Ltd. News Category : PressRelease TORONTO, Nov. 15 /PRNewswire-FirstCall/ -- Goldbelt Resources Ltd. (TSXV: GLD) has encountered a spectacular intersection in drill hole SORC048 at the BSF1 prospect in the mill feed area surrounding the Inata Project at Belahouro. Drill hole SORC048 located at the southern end of the BSF1 exploration prospect was designed to test the up dip mineralization from drill hole SORC005 (11m @ 2.39 g/t from 35 - 46m) and has encountered a very wide zone of extremely high grade mineralization at a depth of only 16 meters. Hole SORC005 was drilled by a previous owner of the prospect. BSF1 is an exploration project located approximately 25km to the east of the Inata Development Project where the Company has recently completed and announced a Prefeasibility Study. Mineralization has been encountered in a number of historic holes drilled to the north of SORC048. To date, there have been no holes drilled to the south of this intersection. Drilling is planned to immediately evaluate this zone of mineralization to determine its ultimate potential as a feed source for the planned Inata Mill. The drill hole is located on the very southern end of the BSF1 exploration prospect within the Souma Trend. The hole was drilled at -60 degrees to the east and mineralization encountered in the drill hole approximates the true thickness of the zone. Souma Trend mineralization comprises laminated quartz with tourmaline veins that outcrop sporadically along the length of the entire trend. The Souma Trend borders a rift basin with deep crustal fault margins tracking to the north with rocks consisting of turburbitic meta-sediments and minor volcanoclastics. The basin forming structures have later been reactivated in subsequent phases of compression deformation. Late stage north-east to south-west faults crosscut the basin and provide channel ways for mineralizing events along the rift margins. Goldbelt is currently exploring a number of prospects in the eastern side of the Belahouro Project area and will report the results of this program as they come to hand. Sampling, quality control and quality assurance procedures are as outlined in Goldbelt's news release dated June 22, 2006. Collin Ellison, President and CEO of Goldbelt, is the qualified person who has reviewed the results, sampling procedures and data contained in this release. Goldbelt Resources is a Canadian junior mining company focused on exploring and developing known gold prospects in Burkina Faso. The common shares of Goldbelt are traded on the TSX-Venture exchange under the symbol GLD. GOLDBELT RESOURCES LTD. Per: "Collin Ellison" Collin Ellison, President and CEO NO TABLES .... earthtimes.org

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