7e Kiaka Gold Project, Burkina Faso
By Volta Resources Inc., PRNETuesday, September 21, 2010
TORONTO, September 22, 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) today
announced that it has planned a drilling program comprising more than 250
holes for approximately 50,000 meters in the Central Area at its Kiaka Gold
Project in Burkina Faso (see Figure 1). Approximately 40% of the program is
scheduled to be completed by the end of this year. The program is scheduled
to commence this weekend.
Volta recently announced a maiden NI43-101
compliant resource at its flagship Kiaka Gold Project. The resource
estimate compiled by independent consultants, SRK (UK) based in Cardiff,
United Kingdom, included Indicated Resources of 41.25 Mt at 1.04g/t for 1,
384,000 ounces of gold and Inferred Resources of 15.9 Mt at 0.90g/t for 480
,000 ounces of gold. The resource is contained within a Whittle optimized
open pit, at a 0.6 g/t gold cut-off (see press release dated June 29, 2010
), extending to approximately 200 meters below surface. The drilling
program is aimed at achieving the following objectives (see Figure 2):
- Infill the core of the main deposit defined so far in the Central Area to 25m x 50m drill spacing in order to raise the category of most of the Indicated to Measured Resources and Inferred to Indicated Resources. - Extend the drilling depth of the main area of the deposit in the Central Area so that the interval between 200 meters and 300 meters below surface delivers Inferred Resources. - Extend and infill the drilling north of the main deposit by approximately 450 meters on 50m x 50m drill spacing in an attempt to add additional Indicated and Inferred Resources. - Additional drilling to the northwest of the main deposit in the Central Area in order to follow up recent good intersections achieved in the KHZ zone. This drilling will also attempt to add Indicated and Inferred Resources. - Extend and infill the drilling south of the main deposit by approximately 400 meters on 50m x 50m drill spacing in an attempt to add additional Indicated and Inferred Resources.
See files.newswire.ca/407/Volta_Kiaka_Sept22.doc for maps of the
Kiaka Gold Project.
Kevin Bullock, Volta's CEO, said, "After our very
successful first year developing Kiaka, we continue to proceed aggressively
to further expand the scope of the project. We will be drilling deeper than
before and increasing the overall territory that has been drilled. Our goal
is to increase the existing resource and then evaluate the best production
path scenarios.
The Company is also finalizing plans for follow up drilling
on the Contact Zone in the South Area. A program to pursue other targets on
the 244 km(2) Kiaka property is also being finalized and would likely
commence toward the end of 2010.
Under the guidelines of National Instrument 43-101, the qualified person
for the Kiaka Gold Project is Mr. Guy Franceschi, Vice President, Exploration
for Volta. Mr. Franceschi is a member of the European Federation of
Geologists and has reviewed and approved the contents of this news release.
Volta is a mineral exploration company primarily focused on becoming a
leader in the identification, acquisition and exploration of gold properties
in West Africa. The Company is currently fast-tracking its flagship Kiaka
Gold Project, located in Burkina Faso, towards a development decision.
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 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 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.
For further information: please refer to our website
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,
+1-416-577-9927
For further information: please contact: Kevin Bullock, P.Eng., President
& CEO, Tel: +1(647)388-1842, Fax: +1(416)867- 2298, Email:
kbullock at voltaresources.com; or Andreas Curkovic, Investor Relations, +1-416-577-9927
Tags: Burkina Faso, canada, September 22, Toronto, Volta Resources Inc.