Volta Confirms Wide Gold Mineralization, Including Higher Grade Intercepts, at its Kiaka Gold Project in Burkina Faso
By Volta Resources Inc., PRNETuesday, December 15, 2009
Volta Intersects 136m (at) 1.66g/t on the KMZ Zone at Kiaka
TORONTO, December 16 - Volta Resources Inc. ("Volta" or the "Company")
(TSX: VTR) announces the results from the first 3 holes completed on it's
Kiaka Gold Project, located approximately 120 kilometres southeast of
Ouagadougou, the capital city of Burkina Faso. Volta acquired the property
from Randgold Resources, with the transaction being approved by shareholders
on November 13th, 2009. The company commenced an aggressive drilling program
comprising more than 150 holes for over 22,000 metres on November 22nd, 2009
(see Figure 1 - files.newswire.ca/407/Volta_Resources.pdf). Volta
intends to complete the program by the end of April 2010 and to finalize a
National Instrument 43-101 ("NI43-101") compliant resource before the end of
June 2010. To date, 9 holes have been completed.
The results for the first 3 holes drilled on Section 5250N have already
been received from ALS Chemex Laboratories in Ouagadougou. The highlights
include:
- KRD25 from 0.0 to 136.0m - 136.0m (at) 1.66 g/t gold
- Including - 21.0m (at) 3.10 g/t gold
- And including - 50.8m (at) 1.78 g/t gold
- KRD26 from 1.0 to 166.0m - 165.0m (at) 0.83 g/t gold
- Including - 40.0m (at) 1.15 g/t gold
- KRD27 from 2.1m - 36.1m - 34.0m (at) 1.40 g/t gold
- Including - 14.0m (at) 2.25 g/t gold
Kevin Bullock, Volta's President and CEO, said, "These first
impressively wide intersections clearly support Kiaka's historical potential
outlined by Randgold. More importantly, they bode well for Volta's decision
to aggressively focus on Kiaka as its premier development project."
Vic King, Volta's COO, said, "The results from Volta's infill drillholes
confirm the impressive width of the KMZ zone, previously defined by Randgold
on the same section in holes KDH05 and KDH14. More importantly, Volta's
closer drill spacing has better defined the continuity on the section of
discrete higher grade zones. These were initially observed during Volta's
due diligence review of the project. Our logging has confirmed that the
higher grade zones can be broadly correlated with brittle-ductile deformation
, a strong secondary structural fabric and a distinct alteration assemblage.
These relationships will facilitate confidently tracking these higher grade
zones from section to section, thereby improving geological modeling and
resource estimation, with positive implications for improving overall
project economics."
Volta's current drill program will test 1,200m strike of the 2,800m long
KMZ zone and 500m of the 700m long KHZ zone. The program will infill and
extend drilling such that the KMZ zone is drilled to 50m x 50m spacing from
surface to a 150m depth and 100m x 50m from 150m to 200m depth. On the
narrower KHZ zone, drill spacing will be 50m x 50m from surface to a 100m
depth and 100m x 50m from 100m to 150m. Planning and optimization of the
drill program was undertaken with input from SRK Consulting (UK) to ensure
that the delivery of the independent resource consultant's NI 43-101
compliant resource is delivered as efficiently as possible.
In order to appreciate the extent and geometry of the mineralization on
the 5250N section, the results for the three Volta holes and two of
Randgold's holes are highlighted in the Table1 below and on the section
(see Figure 2 - files.newswire.ca/407/Volta_Resources.pdf).
Analyses of the Volta samples were undertaken by fire assay on a 50g
charge at ALS Chemex Laboratories in Ouagadougou. Both Volta and Randgold
sampling and assay procedures included QA/QC elements that employed the
inclusion of certified standards and blanks.
The intersections listed in the Table 1 below are based on a 0.3 g/t
gold cut-off with maximum internal dilution of 5m for the lower grade
mineralization envelope. 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. Details of the drilling are provided in Table 2.
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Hole ID From To Length Grade Company
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KRD25 0.00 136.00 136.00 1.66 Volta
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KRD25 including 1.20 22.20 21.00 3.10
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KRD25 including 33.20 38.20 5.00 1.13
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KRD25 including 46.20 51.20 5.00 1.95
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KRD25 including 56.20 107.00 50.80 1.78
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KRD25 including 114.00 128.00 14.00 1.39
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KRD25 including 131.00 136.00 5.00 3.95
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KRD25 AND 143.00 152.05 9.05 1.18
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KRD26 1.00 166.00 165.00 0.83 Volta
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KRD26 including 2.00 5.00 3.00 1.12
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KRD26 including 13.00 17.00 4.00 2.98
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KRD26 including 20.00 25.00 5.00 3.15
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KRD26 including 28.00 37.00 9.00 1.01
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KRD26 including 40.00 43.00 3.00 1.25
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KRD26 including 53.00 93.00 40.00 1.15
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KRD26 including 151.00 155.00 4.00 2.18
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KRD27 2.10 36.10 34.00 1.40 Volta
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KRD27 including 5.10 8.10 3.00 3.73
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KRD27 including 18.10 32.10 14.00 2.25
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KDH05 6.00 16.00 10.00 0.78 Randgold
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KDH05 AND 23.00 238.00 215.00 1.42
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KDH05 including 30.00 35.00 5.00 2.93
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KDH05 including 41.00 113.00 72.00 2.17
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KDH05 including 120.00 129.00 9.00 0.89
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KDH05 including 139.00 150.00 11.00 1.11
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KDH05 including 155.00 202.00 47.00 1.57
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KDH05 including 224.00 228.00 4.00 1.44
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KDH14 7.00 22.00 15.00 0.64 Randgold
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KDH14 AND 15.00 18.00 3.00 1.48
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KDH14 AND 57.00 61.00 4.00 1.67
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KDH14 including 57.00 61.00 4.00 1.67
---------------------------------------------------------------------
KDH14 AND 87.00 271.00 184.00 1.57
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KDH14 including 88.00 95.00 7.00 1.37
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KDH14 including 124.00 129.00 5.00 2.37
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KDH14 including 132.00 136.00 4.00 1.45
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KDH14 including 155.00 184.00 29.00 2.42
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KDH14 including 192.00 204.00 12.00 1.08
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KDH14 including 207.00 228.00 21.00 2.74
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KDH14 including 239.00 259.00 20.00 4.20
---------------------------------------------------------------------
KDH14 AND 279.00 290.00 11.00 1.31
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KDH14 AND 280.00 286.00 6.00 2.19
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NOTES:
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 of 5m for the lower grade mineralization envelope.
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.
3) 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.
4) Dry 1m-interval 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
5) Samples were sent to ALS Chemex in Ouagadougou for standard
preparation followed by Fire Assay on a 50g charge.
6) Certified standards were inserted every 15 samples, field duplicates
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.
7) All drill holes were pre-collared in Reverse Circulation (RC) and
finished with a diamond tail (see table 2).
The Kiaka gold project lies at the intersection of the northeast
striking Tenkodogo greenstone belt and the regionally significant north
striking Markoye Fault, in whose proximity some of the larger gold
resources discovered in Burkina Faso so far, have been discovered. These
include Iamgold's Essakane deposit (5.1 M oz), High River Gold's Taparko
deposit (1.7 M oz), Orezone's Bombore deposit (2.1 M oz) and Etruscan's
Youga deposit (1.5 M oz).
TABLE 2: Borehole collar coordinates and orientation parameters.
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Total
Hole Elevat- Depth Dip Azimuth RC DD
ID Easting Northing ion (m) degrees degrees (m) (m)
-------------------------------------------------------------------------
KRD25 739,297 1,289,324 269.75 155.20 -56 315 72.20 83.00
-------------------------------------------------------------------------
KRD26 739,280 1,289,341 267.43 170.33 -54 135 66.00 104.33
-------------------------------------------------------------------------
KRD27 739,316 1,289,306 266.82 90.20 -52 135 59.10 31.10
-------------------------------------------------------------------------
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 committed to West African exploration and is
Canadian-based with its head office in Toronto, Ontario and operations
offices in Accra, Ghana and Ouagadougou, 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 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
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