Volta Extends Mineralization at Depth at its Kiaka Gold Project in Burkina Faso
TORONTO, March 6, 2012 /PRNewswire/ --
- Intersects 121.0m @ 1.25g/t Gold, including 36.9m @ 2.14g/t Gold -
- Also 59.0m @ 2.22g/t Gold, including 27.0m @ 3.64g/t Gold -
TSX: VTR
Volta Resources Inc. ('Volta Resources' or the 'Company')
announces the results from an additional six drill holes from its on-going Phase 3 program at its Kiaka Gold Project in Burkina Faso. Phase 3 comprises approximately 50,000m of drilling being undertaken to extend resources in the Central Area, to follow up positive results in the South Area, to test several more ground geophysical targets and undertake scout drilling on regional targets on the Kiaka property (see News Release of 13 October 2011).The reported holes, comprising a total of 3,469.4m, were drilled across the Kiaka Main Zone (KMZ) orebody (5 holes) and (one hole) just south of the KMZ. They respectively aimed at extending the resources in the Central Zone at depth and at testing the southern continuity of the Main Orebody. All holes were oriented N135degree(s)E and drilled with an inclination of -60degree(s).
The holes on sections 5200N to 5525N confirm the continuity of wide mineralization at depth. In particular holes KDH329, KDH332 and KDH335 have extended the mineralization in that area to a vertical depth of over 450m.
The highlights from the reported drill holes include :
43.3m @ 1.22g/t Au, including 3.0m @ 6.24g/t Au AND
- KDH329 : 135.0m @ 1.12g/t Au, including 16.0m @ 1.61g/t Au
59.0m @ 2.22g/t Au, including 27.0m @ 3.64g/t Au AND
KDH330 : 121.0m @ 1.25g/t Au, including 36.9m @ 2.14g/t Au
21.0m @ 1.54g/t Au, including 3.0m @ 3.76g/t Au AND
KDH332 : 92.2m @ 0.99g/t Au, including 36.0m @ 1.28g/t Au
35.2m @ 1.28g/t Au AND
KDH333 : 53.1m @ 1.04g/t Au, including 8.0m @ 1.76g/t Au
65.0m @ 1.10g/t Au, incluidng 9.0m @ 4.18g/t Au AND
105.5m @ 0.81g/t Au, including 11.0m @ 1.23g/t Au AND
KDH335 : 52.0m @ 1.28g/t Au, including 17.0m @ 1.75g/t Au
Kevin Bullock, Volta's CEO, said, 'With the results from the final holes of the infill drilling now starting to come in, we look forward to announcing an updated NI 43-101 compliant resource within the next few weeks.'
Results for the holes are highlighted in Table 1 and in locations shown in Figure 1. Analyses of the Volta samples were undertaken by fire assay on a 50g charge at ALS Chemex Laboratories in Ouagadougou. Volta's sampling and assay procedures included rigorous QA/QC elements that employed the inclusion of certified standards and blanks.
Table 1: Highlights of gold intersections for the reported boreholes
BHID FROM TO INTERVAL Au COMMENTS
(m) (m) (m) (g/t)
KDH329 59.00 62.00 3.00 5.29 59.0 - 60.0 = 14.60g/t Au
AND 87.00 107.00 20.00 0.50
AND 147.00 180.00 33.00 0.67
INCL 174.00 178.70 4.70 1.54
AND 248.70 292.00 43.30 1.22 254.0 - 254.0 = 17.05 g/t Au
INCL 251.00 254.00 3.00 6.24
INCL 262.00 265.00 3.00 2.92
AND 368.00 391.00 23.00 0.65
AND 398.00 432.00 34.00 0.57
AND 444.00 579.00 135.00 1.12 530.0 - 531.0 = 10.15g/t Au
INCL 448.00 470.00 22.00 1.82
INCL 489.00 498.00 9.00 1.31
INCL 501.85 507.00 5.15 1.12
INCL 516.00 532.00 16.00 1.61
INCL 536.60 545.00 8.40 1.03
INCL 548.00 573.00 25.00 1.50
AND 635.00 647.00 12.00 0.71
280.0 -281.0 = 33g/t Au ; 298.0
-299.0 = 10.95g/t Au ;
KDH330 259.00 318.00 59.00 2.22 301.6 - 302.2 = 23.6g/t Au
INCL 276.00 303.00 27.00 3.64
AND 326.00 343.00 17.00 0.63
369.0 - 370.0 = 13.10g/t Au ; 429.0 -
AND 349.00 470.00 121.00 1.25 430.0 = 31.70g/t Au
INCL 368.00 375.90 7.90 3.07
INCL 379.00 390.00 11.00 1.52
INCL 403.10 440.00 36.90 2.14
INCL 455.50 458.00 2.50 1.95
AND 480.10 497.00 16.90 0.69
INCL 486.30 492.00 5.70 1.15
AND 522.00 525.00 3.00 1.00
KDH331 249.00 256.00 7.00 1.11
INCL 249.00 252.00 3.00 2.01
KDH332 27.15 31.00 3.85 0.73
AND 227.00 248.00 21.00 1.54 247.0 - 248.0m = 14.10g/t Au
INCL 236.00 239.00 3.00 3.76
AND 269.85 288.00 18.15 1.00
INCL 269.85 277.00 7.15 1.67
AND 321.00 326.10 5.10 1.18
AND 356.00 379.00 23.00 0.55
INCL 359.10 363.00 3.90 1.02
AND 395.80 488.00 92.20 0.99
INCL 395.80 400.00 4.20 1.65
INCL 410.00 414.00 4.00 1.13
INCL 418.00 420.30 2.30 1.53
INCL 424.00 460.00 36.00 1.28
INCL 463.00 471.00 8.00 1.33
INCL 473.90 477.00 3.10 1.44
AND 495.00 503.35 8.35 1.32
INCL 496.00 502.25 6.25 1.65
AND 518.35 601.00 82.65 0.62
INCL 526.00 531.95 5.95 1.86
INCL 536.90 540.00 3.10 1.29
INCL 547.40 553.00 5.60 0.89
INCL 557.00 565.00 8.00 0.95
AND 624.00 630.00 6.00 0.85
INCL 627.00 630.00 3.00 1.38
KDH333 23.00 29.00 6.00 1.35
AND 257.00 309.00 52.00 0.82
INCL 265.50 274.00 8.50 1.69
INCL 281.00 285.00 4.00 1.73
INCL 288.00 296.90 8.90 1.15
AND 329.20 333.20 4.00 1.33
AND 361.80 397.00 35.20 1.28
INCL 361.80 384.00 22.20 1.40
INCL 387.00 396.00 9.00 1.29
AND 406.00 459.10 53.10 1.04
INCL 409.00 417.00 8.00 1.76
INCL 420.00 425.00 5.00 1.58
INCL 454.00 459.10 5.10 1.34
AND 465.00 489.00 24.00 0.55
INCL 465.00 468.00 3.00 0.82
INCL 474.00 477.00 3.00 0.83
KDH335 79.00 96.25 17.25 1.41
INCL 87.00 96.25 9.25 2.26
AND 102.90 114.10 11.20 0.78
AND 233.95 256.00 22.05 0.79
INCL 251.00 256.00 5.00 1.08
AND 269.00 272.00 3.00 1.63
AND 314.00 379.00 65.00 1.10 322.3 - 323.0 = 29.12g/t Au
INCL 315.00 324.00 9.00 4.18
INCL 367.00 372.00 5.00 1.26
AND 412.00 517.50 105.50 0.81 472.2 - 473.0 = 17.44g/t Au
INCL 442.00 447.00 5.00 1.02
INCL 472.20 475.00 2.80 6.82
INCL 483.00 497.10 14.10 1.14
INCL 505.00 516.00 11.00 1.23
AND 524.00 535.00 11.00 1.08
INCL 527.00 535.00 8.00 1.23
AND 544.00 553.70 9.70 1.50
INCL 546.00 552.60 6.60 1.97
AND 561.00 613.00 52.00 1.28
INCL 562.00 579.00 17.00 1.75
INCL 581.00 595.65 14.65 1.54
AND 627.90 638.00 10.10 0.65
INCL 635.00 638.00 3.00 1.38
AND 661.00 665.00 4.00 1.09
Notes on Table 1:
1) Intervals are core length; true width is unknown at this time.
2) Intersections are based on a 0.3 g/t gold cut-off with maximum internal
dilution (MID) of 5m for the lower grade mineralization envelop.
3) In order to highlight the continuity of the high grade zone, a 0.8 g/t gold
cut-off with maximum internal dilution of 2m has been used.
4) No top cut has been applied.
5) The intersections listed in the table represent sections of at least 3m in
excess of 1g/t Au and/or sections of at least 10m in excess of 0.5g/t Au.
6) The intersections represent sections drilled by cored drilling (see Table 2).
7) The cored drill holes were sampled at one meter intervals and cut in half
using a diamond saw. Half-core is archived at the core storage facility on site while
the other half was sent to the laboratory.
8) Samples were sent to ALS Chemex in Ouagadougou for standard preparation
followed by Fire Assay on a 50g charge.
9) Certified standards were inserted every 15 samples, field duplicates (in the
RC portions) about every 20 and blanks about every 30 samples. The blanks, certified
standards and duplicate assays confirm that all assays used to compile the
intersections quoted here have passed Volta's rigorous QA/QC checks.
TABLE 2 : Collar coordinates and orientation parameters for the reported boreholes
SECTION Hole ID Easting Northing Elevation Depth Dip Azimuth
(m) (m) (degrees) (degress)
5525N KDH329 739263 1289747 273.4 700.65 -60 135
5475N KDH332 739224 1289712 275.2 700.00 -60 135
5450N KDH335 739192 1289712 277.3 700.63 -60 135
5250N KDH330 739137 1289482 271.1 525.90 -60 135
5200N KDH333 739101 1289448 271.0 520.10 -60 135
4850N KDH331 738921 1289130 267.0 322.12 -58 135
Volta Resources also announces the commencement of a drilling program at its Gaoua Cu-Au porphyry project totaling approximately 17,000 meters. The Company plans to carry out an updated resource calculation at the Gaoua Cu-Au porphyry project starting after the drilling is completed.
Under the guidelines of National Instrument 43-101, the qualified person for the Kiaka Gold Project and the Gaoua Cu-Au porphyry project is Mr. Guy Franceschi, Vice President, Exploration for Volta Resources. Mr. Franceschi is a member of the European Federation of Geologists and has reviewed and approved the contents of this news release.
Volta Resources has a portfolio of quality gold exploration projects in Burkina Faso and Ghana, both mining-friendly West African jurisdictions with proven world-class gold deposits. VTR will focus on fast-tracking its flagship Kiaka Gold Project (NI-43-101 compliant resources include 90.29 million tonnes @ 1.04 g/t Au for 3,018,000 ounces in the Measured and Indicated categories and 38.52 million tonnes @ 1.00 g/t Au for 1,260,000 ounces in the Inferred category [Please see VTR press release dated June 29, 2011]) towards a development decision, aiming to complete a Feasibility Study in Q1, 2013. Recent acquisition of properties around Kiaka have provided VTR with an extensive ground position along the highly prospective Markoye Fault Corridor in an important emerging gold province. VTR will also advance exploration at its Gaoua Copper-Gold Project, Nassara Gold Project and Titao Gold Project, all located in Burkina Faso.
Forward Looking Information Caution:
This press release presents 'forward-looking statements' within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold and other minerals and metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the resources, the realization of mineral reserve estimates, the capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. 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 Volta Resources to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Volta Resources believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be 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. Volta Resources does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
PDF with caption: 'Figure 1: Location of reported drill holes'. PDF available at: http://stream1.newswire.ca/media/2012/03/06/20120306_C9968_DOC_EN_10785.pdf
For further information:
please refer to our website http://www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Tel: +1(647)388-1842
Fax: +1(416)867-2298
Email: kbullock@Voltaresources.com
or
Andreas Curkovic, Investor Relations
Tel: +1(416)577-9927
Volta Resources Inc.