Volta Extends Gold Mineralization Further South at its Kiaka Gold Project
By Volta Resources Inc., PRNEWednesday, June 2, 2010
Intersects 82.0m at 1.12g/t Gold, Including 42.1Meters at 1.54g/t Gold - Also 35.6m (at) 1.13g/t Gold Including 5.0m (at) 4.77g/t Gold -
TORONTO, June 10, 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 (17,517meters) 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.
So far results have been received for 108 holes from this area with the
remainder expected soon. This news release covers the latest 14 holes, four
of which are located on Section 5000N, seven on Section 5100N and three on
Section 5900N, (See Figure 1). In addition four Randgold holes (labeled
hereafter RRL) have been re-assayed on these sections. The highlights from
these sections include:
- KRD84 : 76.0m (at) 0.82g/t Au, including 17.0m (at) 1.38g/t Au
- KDH90 : 11.0m (at) 1.11g/t Au, including 4.0m (at) 2.62g/t Au, AND
- KDH90 : 49.0m (at) 0.87g/t Au, including 4.0m (at) 1.62g/t Au.
- RRL_KDH11 : 71.0m (at) 0.77g/t Au, including 4.0m (at) 1.68g/t Au
- RRL_KRC11 :134.0m (at) 0.77g/t Au
- KRD80 : 46.4m (at) 1.16g/t Au AND
- KRD80 : 35.6m (at) 1.13g/t Au, including 5.0m (at) 4.77g/t Au.
- KRD82 : 82.0m (at) 1.12g/t Au, including 42.1m (at) 1.54g/t Au
- KRD83 : 106.0m (at) 0.95g/t Au, including 22.0m (at) 1.88g/t Au, AND
- KRD83 : 51.7m (at) 0.74g/t Au, including 4.0m (at) 3.0g/t Au
- KDH70 : 29.0m (at) 0.91g/t Au, including 9.0m (at) 2.35g/t Au
Kevin Bullock, Volta's CEO, said, "As we complete our first drill
campaign at Kiaka, we are pleased that it is concluding with the successful
results we have seen throughout. We have strategically focused our drilling
toward establishing our maiden resource however our drilling has also been
productive in revealing future targets to further refine our soon to be
established resource. With our strong cash position and our increased
understanding of the deposit, we will be able to expeditiously advance Kiaka
toward our ultimate production goal."
Sections 5000N and 5100N have extended the central mineralization a
further 150m to the south. The holes on section 5900N 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. This would imply that the narrower mineralized intersections
encountered in the holes drilled on Sections 5800N and 5900N so far are
associated with the KHZ and KIZ zones. The company has recently completed
drilling a hole on the eastern edge of Section 5750N in order to test this
interpretation. Results are awaited.
To date, Volta's drill program has tested only the Central Area,
comprising 900m 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 5000N, 5100N and 5900N 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 Section 5000N, 5100N
and 5900N
------------------------------------------------------------------------
SECTION HOLE FROM TO INTERVAL GRADE Comments
ID ------------------------------------------
m m m g/t Au
------------------------------------------------------------------------
5000N KDH81 236.00 314.00 78.00 0.64
-----------------------------------------------------
Including 253.00 268.00 15.00 1.05
-----------------------------------------------------
Including 272.00 281.00 9.00 1.05
----------------------------------------------------------------
KRD84 0.00 76.00 76.00 0.82
-----------------------------------------------------
Including 3.00 16.00 13.00 1.01
-----------------------------------------------------
Including 21.00 38.00 17.00 1.38
----------------------------------------------------------------
KDH90 14.00 25.00 11.00 1.11
-----------------------------------------------------
Including 14.00 18.00 4.00 2.62
-----------------------------------------------------
AND 49.00 98.00 49.00 0.87
-----------------------------------------------------
Including 69.00 73.00 4.00 1.24
-----------------------------------------------------
Including 92.00 96.00 4.00 1.62
-----------------------------------------------------
AND 118.70 165.00 46.30 0.64
-----------------------------------------------------
Including 125.60 135.00 9.40 1.00
----------------------------------------------------------------
RRL-KDH11 138.00 150.00 12.00 0.60 Randgold
----------------------------------------------------- hole
Including 143.00 147.00 4.00 1.06
-----------------------------------------------------
AND 203.00 274.00 71.00 0.77
-----------------------------------------------------
Including 217.00 221.00 4.00 1.68
-----------------------------------------------------
Including 224.00 237.00 13.00 0.99
-----------------------------------------------------
Including 240.00 247.00 7.00 1.43
----------------------------------------------------------------
RRL_KRC11 21.00 155.00 134.00 0.77 Randgold
----------------------------------------------------- hole
Including 70.00 102.00 32.00 1.08 Ended in
----------------------------------------------------- mineral-
Including 106.00 121.00 15.00 1.09 ization
-----------------------------------------------------
Including 127.00 130.00 3.00 1.14
-----------------------------------------------------
Including 135.00 143.00 8.00 1.37
------------------------------------------------------------------------
5100N KDH79 80.00 129.00 49.00 0.94 MID
----------------------------------------------------- increased
Including 80.00 89.00 9.00 1.40 to 6m
-----------------------------------------------------
Including 95.20 101.00 5.80 3.71
-----------------------------------------------------
AND 156.00 238.00 82.00 0.71
-----------------------------------------------------
Including 175.00 181.00 6.00 1.33
-----------------------------------------------------
Including 185.00 204.00 19.00 1.41
-----------------------------------------------------
AND 263.10 283.00 19.90 0.83
-----------------------------------------------------
Including 268.00 274.00 6.00 1.07
-----------------------------------------------------
Including 277.90 283.00 5.10 1.46
----------------------------------------------------------------
KRD80 0.00 46.40 46.40 1.16
-----------------------------------------------------
Including 1.40 33.40 32.00 1.47
-----------------------------------------------------
AND 61.40 97.00 35.60 1.13
-----------------------------------------------------
Including 83.00 88.00 5.00 4.77
-----------------------------------------------------
AND 104.00 149.20 45.20 0.90
-----------------------------------------------------
Including 104.00 119.20 15.20 1.02
-----------------------------------------------------
Including 122.60 133.00 10.40 1.16
----------------------------------------------------------------
KRD82 0.00 82.00 82.00 1.12
-----------------------------------------------------
Including 1.00 12.00 11.00 1.34
-----------------------------------------------------
Including 16.00 58.10 42.10 1.54
----------------------------------------------------------------
KKRC43 0.00 39.00 39.00 0.79
-----------------------------------------------------
Including 18.00 22.00 4.00 2.39
----------------------------------------------------------------
KDH77 21.00 33.00 12.00 0.93
-----------------------------------------------------
Including 23.00 33.00 10.00 1.07
-----------------------------------------------------
AND 42.00 94.00 52.00 0.54
-----------------------------------------------------
AND 122.00 132.00 10.00 1.41
-----------------------------------------------------
AND 142.00 167.00 25.00 0.51
-----------------------------------------------------
AND 203.00 237.00 34.00 0.69
-----------------------------------------------------
Including 204.00 213.00 9.00 1.33
----------------------------------------------------------------
KRD83 0.00 106.00 106.00 0.95
----------------------------------------------------------------
Including 1.00 23.00 22.00 1.88
----------------------------------------------------------------
Including 28.00 41.00 13.00 1.20
----------------------------------------------------------------
Including 47.00 52.00 5.00 1.61
----------------------------------------------------------------
Including 59.00 62.00 3.00 1.09
----------------------------------------------------------------
Including 67.10 71.00 3.90 1.66
----------------------------------------------------------------
Including 76.00 80.00 4.00 1.10
----------------------------------------------------------------
Including 87.00 91.00 4.00 1.04
----------------------------------------------------------------
AND 113.00 164.70 51.70 0.74
----------------------------------------------------------------
Including 136.15 140.00 3.85 1.24
----------------------------------------------------------------
Including 156.00 160.00 4.00 3.00
------------------------------------------------------------------------
5900N KDH70 104.00 133.00 29.00 0.91
-----------------------------------------------------
Including 112.00 121.00 9.00 2.35
----------------------------------------------------------------
KRD72 47.00 53.00 6.00 1.00
----------------------------------------------------------------
RRL_KDH24 115.00 150.00 35.00 0.58 Randgold
----------------------------------------------------- hole
Including 129.00 132.00 3.00 1.67 MID
----------------------------------------------------- increased
AND 200.00 212.00 12.00 2.18 to 6m
-----------------------------------------------------
AND 232.00 253.00 21.00 0.57
-----------------------------------------------------
Including 241.00 244.00 3.00 1.32
-----------------------------------------------------
AND 342.00 348.00 6.00 0.99
------------------------------------------------------------------------
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 KDH79 and in RRL_KDH24).
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 Tables 3 and 4).
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,
occasionally, 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 5000N, 5100N and 5900N
------------------------------------------------------------------------
Sect- Hole Easting Northing Elev- Depth Azi- Dip RC DD
ion ID ation muth
------------------------------------------
(m) (m) (deg- (deg- (m) (m)
rees) rees)
------------------------------------------------------------------------
5000N
---------------------------------------------------------------------
RRL_KDH02 738,939 1,289,272 269.00 175.50 -45.00 125.00 0.00 175.50
---------------------------------------------------------------------
RRL_KDH11 739,009 1,289,236 269.00 325.00 -45.00 130.00 0.00 325.00
---------------------------------------------------------------------
KDH81 739,020 1,289,246 269.00 315.00 -55.00 135.00 0.00 315.00
---------------------------------------------------------------------
KDH90 739,174 1,289,090 266.00 273.40 -56.00 135.00 0.00 273.40
---------------------------------------------------------------------
RRL_KRC11 739,080 1,289,181 266.00 155.00 -45.00 130.00 155.00 0.00
---------------------------------------------------------------------
KRD66* 738,961 1,289,303 270.00 63.00 -56.00 135.00 63.00 0.00
---------------------------------------------------------------------
KRD84 739,122 1,289,144 267.00 100.20 -55.00 135.00 70.80 29.40
---------------------------------------------------------------------
KDH77 739,236 1,289,170 266.00 270.23 -55.00 315.00 0.00 270.23
---------------------------------------------------------------------
5100N
---------------------------------------------------------------------
KDH79 739,102 1,289,304 269.00 285.36 -55.00 135.00 0.00 285.36
---------------------------------------------------------------------
KKRC37 739,033 1,289,376 271.00 75.00 -56.00 135.00 75.00 0.00
---------------------------------------------------------------------
KKRC43 739,198 1,289,211 267.00 90.00 -55.00 135.00 90.00 0.00
---------------------------------------------------------------------
KRD80 739,138 1,289,269 269.00 210.10 -55.00 135.00 72.40 137.70
---------------------------------------------------------------------
KRD82 739,175 1,289,234 267.00 140.14 -55.00 135.00 44.00 96.14
---------------------------------------------------------------------
KRD83 739,198 1,289,211 266.75 170.14 -55.00 315.00 51.2 118.94
---------------------------------------------------------------------
5900N
---------------------------------------------------------------------
RRL_KDH24 739,642 1,289,866 273.00 395.50 -46.00 130.00 0.00 395.50
---------------------------------------------------------------------
KDH70 739,707 1,289,837 272.00 225.00 -55.00 135.00 0.00 225.00
---------------------------------------------------------------------
KKRC33 739,775 1,289,768 271.00 75.00 -57.00 135.00 75.00 0.00
---------------------------------------------------------------------
KRD72 739,743 1,289,803 272.00 155.10 -56.00 135.00 66.00 89.10
------------------------------------------------------------------------
* KRD66 is an uncompleted hole
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.
Visit files.newswire.ca/407/Kiaka_Fig_1-4.pdf to see Figures 1-4.
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; 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
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