Form 51-102F3 Material Change Report
Under Section 85(1) of the Securities Act (British Columbia)
Under Section 118(1) of the Securities Act (Alberta)
Form 27 Material Change Report
Section 74(2) of the Securities Act (Ontario)
ITEM 1.
| NAME AND ADDRESS OF COMPANY
|
| | |
|
| Goldbelt Resources Ltd. 372 Bay Street, Suite 1201
|
|
|
|
ITEM 2.
| DATE OF MATERIAL CHANGE
|
| September 11, 2006 |
ITEM 3.
| NEWS RELEASE
|
| Issued September 11, 2006 and distributed through the facilities of CNW. |
ITEM 4.
| SUMMARY OF MATERIAL CHANGE
|
.
| See news release attached |
ITEM 5.
| FULL DESCRIPTION OF MATERIAL CHANGE
|
| See news release attached. |
ITEM 6.
| RELIANCE ON SUBSECTION 7.1(2) OR (3) OF NATIONAL INSTRUMENT 51-102
|
| Not applicable. |
ITEM 7.
| OMITTED INFORMATION
|
| No information has been omitted on the basis that it is confidential information. |
ITEM 8.
| EXECUTIVE OFFICER
|
|
| Contact: Collin Ellison, President & CEO
|
| Telephone: (416) 364-0557
|
ITEM 9.
| DATE OF REPORT
|
| September 18, 2006 |
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
Goldbelt announces initial results from previously unexplored Hound
region
TORONTO, Sept. 11 /CNW/ - (September 11, 2006) Goldbelt Resources Ltd.
(TSXV: GLD) is pleased to announce the completion of a 5,000 meter drilling
program at its 100% owned Karba license in the south-western Hound Belt of
Burkina Faso.
Initial results from the 93 hole drill program have shown encouraging
mineralization. Sampling in this region is currently based on 4 meter assays,
giving averaged results over the intercept. Significant results in excess of
1.5g/t are shown below: Note that the drill widths presented above are drill
intersection widths and may not represent true widths.
<<
-------------------------------------------------------------------------
Hole ID Easting Northing From To Interval Grade Prospect
(m) (g/t)
-------------------------------------------------------------------------
HKRC06 436000 1274800 32 36 4 4.47 Dohoun
-------------------------------------------------------------------------
HKRC08 435900 1273805 4 8 4 1.90 Dohoun
-------------------------------------------------------------------------
HKRC10 435900 1274000 16 20 4 1.86 Dohoun
-------------------------------------------------------------------------
HKRC11 436005 1274915 24 32 8 2.16 Dohoun
-------------------------------------------------------------------------
40 44 4 3.84 Dohoun
-------------------------------------------------------------------------
HKRC13 435610 1275090 28 56 28 1.90 Dohoun
-------------------------------------------------------------------------
HKRC15 435675 1275200 52 60 8 2.17 Dohoun
-------------------------------------------------------------------------
HKRC40 430800 1274380 32 36 4 3.65 Grand Espoir
-------------------------------------------------------------------------
HKRC51 430800 1274115 44 48 4 2.60 Grand Espoir
-------------------------------------------------------------------------
HKRC61 431000 1273800 36 40 4 1.67 Grand Espoir
-------------------------------------------------------------------------
HKRC87 433300 1266200 11 15 4 1.99 Kari Poumpe
-------------------------------------------------------------------------
HKRC93 434000 1266400 62 66 4 3.33 Kari Poumpe
-------------------------------------------------------------------------
Collin Ellison, President & CEO said "The initial results of this first
drilling in the Hound region have been very encouraging. Goldbelt has planned
a geophysical program followed by further drilling by the end of 2006. The
results at Karba, together with what we hope to see at Mandiasso & Diosso,
could have the potential for a second mining center for Goldbelt."
A 16,000 geochemical soil sampling program was completed on the Karba
tenement in early 2005 which provided drill targets for the 2006 program.
Goldbelt has relocated the drill rig at Mandiasso and Diosso, where surface
sampling earlier this year indicated high grades and where over 20,000
artisanal miners are currently working. Previous exploration in the Hound
region concluded that there are four main rock types observed to date on the
permits; volcanic rocks including tuffs or lava flows, undifferentiated
volcanic rocks, quartz-feldspathic schists and sedimentary chert horizons. All
units are part of the Proterozoic aged Birimian Formation. Gold mineralization
on the permits is directly associated with quartz veins, veinlets and
stockwork zones contained with the Birimian Formation.
The drill samples were collected every meter and passed through a standard
riffle splitter. A 2-kg split portion was composited for each 4 meter interval
and retained for assay, which represented 10% - 15% of the total volume. A 2kg
sample from each meter interval has also been taken for future one meter
re-sampling in the areas of mineralization.
The samples for assay were sent to SGS laboratories in Ouagadougou for
analysis. The assay method employed by SGS is as follows:
1. Sample preparation - 2 kg or less was dried, desegregated and
pulverized to 85% (at) -74 micron ((micro)m). 200 grammes of pulp
were split off for analysis.
2. Analysis - 50 gramme charge. Fire assay fusion - lead collection,
resulting prill is dissolved in aqua regia and presented to an atomic
absorption spectrometer to quantify the gold with a detection limit
of 0.01ppm.
>>
Quality control procedures included: detailing of repeat assay and any
deviation; detailing of results assaying blanks and standards; check assaying
via internal contractor and third party referee testing; and details on
maintenance and procedures on a regular basis.
Goldbelt's exploration tenements within south-western area of Burkina
Faso include a total 1,155 km(2) at Hound (Karba, Kopoi, Bouhaoun, Lamou,
Wakui) and 500 km(2) at Bougouriba (Mandiasso and Diosso). Exploration permits
controlled by Goldbelt in Burkina Faso total 4,690km(2). For maps, photos and
property details, please visit our website at
http://www.goldbeltresources.com/projects/hounde/karba/.
Collin Ellison, President and CEO, is the qualified person and has
reviewed the results, sampling procedures and data contained in this release.
GOLDBELT RESOURCES LTD.
Per: "Collin Ellison"
Collin Ellison, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. No
stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. Certain
statements contained in this disclosure document constitute forward-
looking statements which are not historical facts and are made pursuant
to the "safe harbor" provisions under the United States Private
Securities Litigation Reform Act of 1995. When used in this document,
words like "anticipate", "believe", "estimate" and "expect" and similar
expressions are intended to identify forward-looking statements.
Information concerning exploration results and mineral reserve and
resource estimates may also be deemed to be forward-looking statements,
as it constitutes a prediction of what might be found to be present when
and if a project is actually developed. These forward-looking statements
are necessarily based upon a number of estimates and assumptions that,
while considered reasonable at the time they are made, are inherently
subject to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the
forward-looking statements, including, without limitation: uncertainties
related to raising sufficient financing to fund the planned work in a
timely manner and on acceptable terms; changes in planned work resulting
from logistical, technical or other factors; the possibility that results
of work will not fulfill projections/expectations and realize the
perceived potential of the Company's projects; uncertainties involved in
the interpretation of drilling results and other tests and the estimation
of gold reserves and resources; risk of accidents, equipment breakdowns
and labour disputes or other unanticipated difficulties or interruptions;
the possibility of environmental issues at the Company's projects; the
possibility of cost overruns or unanticipated expenses in work programs;
the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price
of gold and other risks and uncertainties.
The United States Securities and Exchange Commission permits mining
companies in their filings with the SEC to disclose only those mineral
deposits that a company can economically and legally extract or produce. We
may use certain terms in this disclosure document such as resources that are
prescribed by Canadian regulatory policy and guidelines but are not provided
for in the SEC guidelines on publications and filings.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management or its independent professional
consultants on the date the statements are made. The reader is cautioned that
actual results, performance or achievements may be materially different from
those implied or expressed in such statements.
%SEDAR: 00004199E %CIK: 0001013785
/For further information: please visit the Company's website
www.goldbeltresources.com or contact Laura Sandilands, Investor Relations or
Collin Ellison, President and CEO at (416) 364-0557 or by email
lsandilands(at)goldbeltresources.com./
(GLDRF.OB GLD.)
CO: Goldbelt Resources Ltd.
CNW 13:47e 11-SEP-06
