Volta Completes its In-fill and Extension Drilling Program at its Kiaka Gold Project
By Volta Resources Inc., PRNEMonday, June 21, 2010
Intersects 54.0m at 3.16g/t Gold, Including 19.0m at 5.92g/t Gold
TORONTO, June 22, 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the
drill results from the next completed sections at its Kiaka Gold Project,
located approximately 120 kilometres southeast of Ouagadougou, the capital
city of Burkina Faso. To date, 113 holes (17,517 meters) have been drilled,
thereby completing the planned infill and extension drilling to be used to
define a NI43-101 compliant resource at the Central Area at Kiaka.
To date all the results have been received, with this news release
covering the latest holes, two of which are located on Section 4800N, two on
Section 4900N, four on section 5050N, six on Section 5650N and four on
Section 5750N (See Figure 1). In addition the recently received assay results
of one hole located on formerly released section 5150N (see News release of
June 3rd, 2010) has been added as well as six Randgold holes (labeled
hereafter RRL) that have been re-assayed on these sections. The highlights
from these sections include:
- KRD91 : 11.00m (at) 1.21 g/t Au,
- KRD89 : 3.85m (at) 4.34 g/t Au
- KDH92 : 40.80m (at) 0.97 g/t Au, including 18.10m (at) 1.56 g/t Au
AND
- KDH92 : 135.10m (at) 0.69 g/t Au, including 21.65m (at) 1.06 g/t Au
- KRD104 : 76.75m (at) 0.84 g/t Au, including 24.0m (at) 1.63 g/t Au
- KRD106 : 54.0m (at) 3.16 g/t Au, including 19.0m (at) 5.92 g/t Au
and 10.0m (at) 4.43 g/t Au
- KRD68 : 33.00m (at) 1.02 g/t Au, including 9.0m (at) 2.04 g/t Au
- RRL_KDH12 40.00m (at) 0.80 g/t Au, including 9.0m (at) 1.10 g/t Au
- RRL_KDH17 :118.00m (at) 1.13 g/t Au, including 13.0m (at) 2.39 g/t Au
AND
- RRL_KDH17 : 52.00m (at) 1.48 g/t Au, including 36.0m (at) 1.80 g/t Au
- KDH97 : 179.25m (at) 1.05 g/t Au, including 14.7m (at) 2.68 g/t Au
- KRD95 : 53.25m (at) 0.85 g/t Au,
- KRD96 : 7.00m (at) 1.47 g/t Au AND
- KRD96 : 5.70m (at) 1.54 g/t Au
- RRL_KRC09 : 13.00m (at) 0.94 g/t Au, including 7.0m (at) 1.41 g/t Au
Kevin Bullock, Volta's CEO, said, "We are very pleased to have concluded
our first drill campaign at Kiaka. It's particularly satisfying to conclude
with more than three grams over 54 meters - one of our best holes yet. We are
on track to release our first resource estimate by the end of this month and
then begin the next phase of Kiaka's development.
Section 5650N, an in-fill line between 5600N (see News Release of 21
April, 2010) and 5700N (see News Release of 30 April, 2010), confirmed the
continuity along strike of the broad zone of mineralization as well as the
higher grade portions intersected in the adjacent sections. The higher-grade
portions can be related to a distinct alteration style and more intense
deformation that can be traced from section to section.
Holes on Section 5050N continue to intersect the central mineralization,
while hole KRD106 on section 5150N, returned outstanding wide and high-grade
intercepts. Sections 4900N and 4800N have tested the central mineralization a
further 200m to the south of last released section (5000N, see News Release
of 10 June, 2010). Mineralized intercepts, though locally high-grade, are
narrow and indicate that the main orebody pinches out. Interpretation of the
geophysical data (see News Release of 4 May, 2010) suggests that the
mineralization may widen-up further south, along the same northeast trend as
seen in the Central Area. The Company is currently drilling two extended
sections across the interpreted position where the KMZ is thought to be
widening in the South Area. Results are awaited and will be reported as soon
as available.
The holes on section 5750N have only intersected narrower and/or
lower-grade mineralized intercepts. Structural interpretation of the data
from the northern sections suggests that the KMZ mineralization may be
displaced to the southeast across an easterly trending, north dipping fault
(see also News Release of 3 and 10 June, 2010).
To date, Volta's drill program has tested only the Central Area,
comprising 1,100m strike extent of the 2,800m long KMZ zone. The program
in-filled and extended drilling on the Central Area such that the KMZ zone is
drilled to 50m x 50m spacing from surface to a 150m vertical depth and 100m x
50m from 150m to 200m vertical depth. Volta is on track to finalize a maiden
National Instrument 43-101 ("NI43-101") compliant resource before the end of
June 2010. It should be emphasized that this infill drilling is limited to a
vertical depth of 200 meters, whereas previous in-house drilling and
estimates by Randgold for the same area extended to a vertical depth of 300m.
Consequently, the company is aiming to convert approximately two thirds of
the Randgold in-house estimates to NI43-101 compliant resource categories
during the current phase.
Results for the holes on sections 4800N, 4900N, 5050N, 5150N, 5650N and
5750N are highlighted in Table 1 below and on the sections in the Figures 2
to 4. 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 QA/QC elements that employed the inclusion of certified
standards and blanks.
Table 1: Highlights of gold intersections from for Sections 4800N, 4900N,
-------------------------------------------------------------------------
5050N, 5150N, 5650N and 5750N
-----------------------------
-------------------------------------------------------------------------
SECTION HOLE ID FROM TO INTERVAL GRADE COMMENTS
------------------------------------
m m m g/t Au
-------------------------------------------------------------------------
4800N KRD91 63.20 74.20 11.00 1.21
----------------------------------------------------------------
AND 111.20 121.15 9.95 0.54
----------------------------------------------------------------
KKRC45 0.00 13.00 13.00 0.69
----------------------------------------------------------------
Including 6.00 13.00 7.00 0.99
----------------------------------------------------------------
RRL-KDH06 174.00 192.00 18.00 0.67 Randgold drill
hole
-------------------------------------------------------------------------
4900N KRD89 25.00 46.00 21.00 0.55
----------------------------------------------------------------
AND 52.00 55.85 3.85 4.34
----------------------------------------------------------------
AND 129.00 140.10 11.10 0.58 halted in
mineralization
-------------------------------------------------------------------------
5050N KRD65 No significant
values
----------------------------------------------------------------
KDH92 57.20 98.00 40.80 0.97
----------------------------------------------------------------
Including 70.00 88.10 18.10 1.56
----------------------------------------------------------------
AND 129.00 264.10 135.10 0.69
----------------------------------------------------------------
Including 185.00 193.00 8.00 1.49
----------------------------------------------------------------
Including 200.35 222.00 21.65 1.06
----------------------------------------------------------------
Including 225.00 233.00 8.00 1.20
----------------------------------------------------------------
RRL_KDH12 46.00 127.00 81.00 0.65 Randgold drill
hole
----------------------------------------------------------------
Including 46.00 53.00 7.00 1.48
----------------------------------------------------------------
Including 63.00 66.00 3.00 4.23
----------------------------------------------------------------
Including 79.00 82.00 3.00 1.26
----------------------------------------------------------------
AND 165.00 205.00 40.00 0.80
----------------------------------------------------------------
Including 165.00 169.00 4.00 1.32
----------------------------------------------------------------
Including 174.00 183.00 9.00 1.10
----------------------------------------------------------------
Including 188.00 194.00 6.00 1.53
----------------------------------------------------------------
KRD104 9.25 86.00 76.75 0.84
----------------------------------------------------------------
Including 15.25 21.25 6.00 0.85
----------------------------------------------------------------
Including 24.25 48.25 24.00 1.63
----------------------------------------------------------------
Including 54.25 58.00 3.75 1.23
----------------------------------------------------------------
KRD98 1.00 16.00 15.00 0.70
----------------------------------------------------------------
Including 1.00 5.00 4.00 1.47
-------------------------------------------------------------------------
5150N KRD106 1.20 55.20 54.00 3.16
update ----------------------------------------------------------------
Including 1.20 20.20 19.00 5.92
----------------------------------------------------------------
Including 27.20 37.20 10.00 4.43
----------------------------------------------------------------
Including 48.20 51.20 3.00 1.07
----------------------------------------------------------------
AND 66.20 72.20 6.00 1.58
-------------------------------------------------------------------------
5650N KRD68 16.00 49.00 33.00 1.02
----------------------------------------------------------------
Including 29.00 34.00 5.00 1.79
----------------------------------------------------------------
Including 39.00 48.00 9.00 2.04
----------------------------------------------------------------
KRD67 14.00 44.00 30.00 0.64
----------------------------------------------------------------
Including 16.00 19.00 3.00 1.90
----------------------------------------------------------------
Including 36.00 39.00 3.00 1.20
----------------------------------------------------------------
RRL-KDH17 85.00 88.00 3.00 1.14 Randgold drill
hole
----------------------------------------------------------------
AND 111.00 229.00 118.00 1.13
----------------------------------------------------------------
Including 131.00 139.00 8.00 1.67
----------------------------------------------------------------
Including 143.00 180.00 37.00 1.27
----------------------------------------------------------------
Including 186.00 199.00 13.00 2.39
----------------------------------------------------------------
Including 202.00 208.00 6.00 1.46
----------------------------------------------------------------
Including 211.00 221.00 10.00 1.40
----------------------------------------------------------------
AND 240.00 292.00 52.00 1.48
----------------------------------------------------------------
Including 241.00 277.00 36.00 1.80
----------------------------------------------------------------
AND 302.00 331.00 29.00 0.56
----------------------------------------------------------------
KDH97 56.00 235.25 179.25 1.05 halted in
mineralization
----------------------------------------------------------------
Including 61.30 76.00 14.70 2.68
----------------------------------------------------------------
Including 79.75 107.00 27.25 1.13
----------------------------------------------------------------
Including 113.00 130.00 17.00 1.39
----------------------------------------------------------------
Including 143.90 147.90 4.00 1.27
----------------------------------------------------------------
Including 161.00 166.10 5.10 1.10
----------------------------------------------------------------
Including 174.85 192.10 17.25 1.37
----------------------------------------------------------------
KRD95 23.00 46.00 23.00 0.51
----------------------------------------------------------------
Including 42.00 45.00 3.00 1.31
----------------------------------------------------------------
AND 72.00 112.50 40.50 0.58
----------------------------------------------------------------
Including 75.00 78.80 3.80 1.35
----------------------------------------------------------------
AND 128.00 181.25 53.25 0.85
----------------------------------------------------------------
KRD96 38.00 45.00 7.00 1.47
----------------------------------------------------------------
AND 54.00 88.00 34.00 0.61
----------------------------------------------------------------
Including 76.00 81.70 5.70 1.54
----------------------------------------------------------------
AND 129.00 145.40 16.40 0.50 halted in
mineralization
----------------------------------------------------------------
KRD94 21.00 36.00 15.00 0.61
----------------------------------------------------------------
AND 44.00 66.00 22.00 0.57
-------------------------------------------------------------------------
5750N KRD87 69.00 73.00 4.00 1.29
----------------------------------------------------------------
KRD88 68.00 89.00 21.00 0.55
----------------------------------------------------------------
RRL-KRC09 38.00 51.00 13.00 0.94 Randgold drill
hole
----------------------------------------------------------------
Including 42.00 49.00 7.00 1.41
-------------------------------------------------------------------------
Notes on Tables 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
envelope (increased to 6m in KDH97).
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.
No top cut has been applied.
4) 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.
5) The intersections represent sections drilled by reverse circulation
(RC) and/or cored drilling (see Table 2).
6) The RC portions of the drill holes were sampled at 1-m intervals. Dry
samples were riffle-split to provide 2 kg samples sent to the
laboratory. Wet samples were dried in the field, then riffle-split in
the same way. The cored portion of the drill holes were sampled at
one metre 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.
7) Samples were sent to ALS Chemex in Ouagadougou for standard
preparation followed by Fire Assay on a 50g charge.
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.
9) For the listed Randgold holes the re-assay values have been used. Re-
assays were performed on pulps or rejects of previously assayed
samples in exactly the same manner as for the Volta samples. Where no
re-assays were available, the Randgold assay values have been used.
The Randgold assay results are considered to be reliable and
acceptable.
TABLE 2: Borehole collar coordinates and orientation parameters for
-------------------------------------------------------------------
Section 4800N, 4900N, 5050N, 5150N, 5650N and 5750N
---------------------------------------------------
-------------------------------------------------------------------------
Elev- Azim-
SECTION BHID Easting Northing ation Dip uth Depth RC DD
-------------------------------------------------------------------------
4800N KKRC45 738995 1288985 267.10 -55 135 80.00 80.00 0.00
-----------------------------------------------------------------
KRD91 738962 1289018 266.80 -55 135 145.00 83.20 61.80
-----------------------------------------------------------------
RRL_KDH06 738943 1289063 266.60 -45 130 211.00 0.00 211.00
------------------------------------------------------------------------
4900N KKRC44 739066 1289057 266.10 -55 135 57.00 57.00 0.00
-----------------------------------------------------------------
KRD89 739033 1289092 266.00 -55 135 140.10 42.40 97.70
-----------------------------------------------------------------
RRL_KDH10 738986 1289143 267.30 -45 130 304.00 0.00 304.00
-------------------------------------------------------------------------
5050N KRD65 738997 1289338 270.57 -58 135 52.00 52.00 0.00
-----------------------------------------------------------------
KDH92 739067 1289269 269.07 -55 135 265.25 0.00 265.25
-----------------------------------------------------------------
KRD104 739140 1289197 267.31 -56 135 135.00 55.25 79.75
-----------------------------------------------------------------
KRD98 739161 1289172 266.83 -55 135 80.55 40.50 40.05
-----------------------------------------------------------------
RRL-KDH12 739078 1289269 269,13 -45 130 328.00 0,00 328,00
-------------------------------------------------------------------------
5150N KRD106 739225 1289248 266.74 -55 135 110.00 72.20 37.80
-------------------------------------------------------------------------
5650N KDH97 739533 1289656 269.20 -55 135 235.00 0.00 235.00
-----------------------------------------------------------------
KRD67 739459 1289731 270.50 -54 135 47.00 47.00 0.00
-----------------------------------------------------------------
KRD68 739409 1289782 272.40 -57 135 51.00 51.00 0.00
-----------------------------------------------------------------
KRD94 739625 1289564 267.70 -55 135 100.00 56.75 43.25
-----------------------------------------------------------------
KRD95 739564 1289625 268.70 -55 135 186.15 45.00 141.15
-----------------------------------------------------------------
KRD96 739602 1289588 268.10 -55 135 145.40 41.00 104.40
-----------------------------------------------------------------
RRL_KDH17 739466 1289705 270.40 -45 125 349.00 0.00 349.00
-------------------------------------------------------------------------
5750N KRD100 739753 1289579 267.50 -55 135 230.50 72.10 158.40
-----------------------------------------------------------------
KRD86 739671 1289662 269.10 -55 135 80.00 39.00 41.00
-----------------------------------------------------------------
KRD87 739636 1289697 269.70 -56 135 160.00 89.00 71.00
-----------------------------------------------------------------
KRD88 739699 1289634 269.00 -56 135 165.20 66.50 98.70
-----------------------------------------------------------------
RRL_KRC08 739619 1289748 270.80 -45 130 94.00 94.00 0.00
-----------------------------------------------------------------
RRL_KRC09 739664 1289709 270.20 -45 130 90.00 90.00 0.00
-------------------------------------------------------------------------
(x) KRD67 and KRD68 are uncompleted holes
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.
To view Figures 1 through 6 of the Kiaka Gold Project, please visit:
files.newswire.ca/407/Volta_Kiaka_June22.doc
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; Andreas Curkovic, Investor Relations,
+1-416-577-9927
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 at voltaresources.com; Andreas Curkovic, Investor Relations, +1-416-577-9927
Tags: Burkina Faso, canada, June 22, Toronto, Volta Resources Inc.
