Volta Now Extends Gold Mineralization at Depth at Its Kiaka Gold Project Intersects 72.30 m at 2.15 g/t Gold, Including 20.00 m at 2.71 g/t Gold and 22.90 m at 3.47g/t Gold
By Volta Resources Inc., PRNESunday, November 28, 2010
Also 63.60 m at 2.68 g/t Gold, Including 21.50m at 5.79 g/t Gold
TORONTO, Canada, November 29, 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announced
today the first drill results from its new, on-going, 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 News Release of 22
September 2010).
Results have been received to date for 8 holes from this campaign, six
holes located on Section 5275N and two holes located on Section 5300N,
respectively (See Figure 1). These holes were mainly aimed at infilling the
main deposit, defined so far, in the Central Area to 25m x 50m drill spacing
and extending the drilling depth down another 100 vertical meters to a
vertical depth of 300 meters. The highlights from these two sections include:
- KDH 143 : 63.60m @ 2.68 g/t Au, including 21.50m @ 5.79 g/t Au AND
- KDH 143 : 115.00m @ 1.06 g/t Au, including 16.55m @ 1.72 g/t Au
- KDH 145 : 79.00m @ 0.98 g/t Au, including 43.00m @ 1.41 g/t Au
- KDH 146 : 84.00m @ 1.56 g/t Au, including 11.75m @ 3.35 g/t Au AND
23.0m @ 2.25 g/t Au
- KDH 151 : 33.50m @ 1.93 g/t Au, including 23.00m @ 2.13 g/t Au AND
- KDH 151 : 75.25m @ 1.35 g/t Au, including 32.55m @ 2.18 g/t Au
- KDH 150 : 72.30m @ 2.15 g/t Au, including 20.00m @ 2.71 g/t Au AND
22.90m @ 3.47 g/t Au AND
- KDH 150 : 16.00m @ 2.03 g/t Au, including 4.90m @ 4.27 g/t Au
Kevin Bullock, Volta's President and CEO, said, "With the infill holes
confirming the excellent results consistently seen from our first drill
program, along with the deeper holes hitting the mineralization down to a 300
meter depth, we are pleased about the resource growth potential at the Kiaka
Gold Project."
The holes on Sections 5275N and 5300N have extended the mineralization to
over 300m vertical depth, while Hole KDH 150 on Section 5300N has also
extended the width of the Kiaka Hanging Wall Zone.
Results for the holes are highlighted in Table 1 below and for section
5275N in Figure 2. Analyses of the Volta samples were undertaken by fire
assay on a 50 gram 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 5275N and
5300N*
SECTION HOLE ID FROM TO INTERVAL GRADE COMMENTS
m m m g/t Au
5275N KDH143 7.40 71.00 63.60 2.68 13.0-14.0m = 10.15g/t Au;
53.0-54.0m = 10.25g/t Au.
69.85-71.0m = 18.06g/t Au
INCL 17.00 21.00 4.00 2.76
INCL 31.00 34.85 3.85 1.83
INCL 38.30 43.00 4.70 1.32
INCL 49.50 71.00 21.50 5.79
AND 84.00 199.00 115.00 1.06
INCL 84.00 90.25 6.25 1.71
INCL 94.00 110.55 16.55 1.72
INCL 113.00 138.00 25.00 1.37
INCL 151.00 171.00 20.00 0.89
INCL 181.45 184.50 3.05 2.69
INCL 188.70 198.00 9.30 1.09
AND 222.00 294.00 72.00 0.80
INCL 223.00 228.00 5.00 1.67
INCL 235.00 252.95 17.95 1.58
KRD144 3.00 139.00 136.00 0.83 98.0-99.0m = 22.6g/t
INCL 18.00 30.00 12.00 0.90
INCL 37.00 42.00 5.00 1.14
INCL 45.00 53.00 8.00 1.17
INCL 58.00 66.00 8.00 1.17
INCL 70.80 74.00 3.20 1.71
INCL 97.00 105.00 8.00 3.85
KDH145 0.56 45.20 44.64 1.12
INCL 4.05 18.20 14.15 1.29
INCL 22.00 34.00 12.00 1.28
INCL 37.15 45.20 8.05 1.56
AND 62.00 116.00 54.00 0.87 85.0-86.0m = 10.30g/t Au
INCL 64.00 68.15 4.15 1.08
INCL 84.00 89.00 5.00 3.83
INCL 93.85 98.00 4.15 1.17
INCL 102.20 106.00 3.80 1.08
AND 123.00 202.00 79.00 0.98
INCL 123.00 166.00 43.00 1.41
INCL 169.00 172.00 3.00 1.11
KDH146 133.40 148.00 14.60 0.68
AND 154.80 200.00 45.20 0.82
INCL 171.00 183.00 12.00 1.31
AND 208.00 292.00 84.00 1.56 229.25-230.00m = 18.5g/t
Au and 252.0-253.0m =
12.75g/t Au
INCL 210.00 222.00 12.00 1.57
INCL 229.25 241.00 11.75 3.35
INCL 248.00 271.00 23.00 2.25
INCL 275.00 279.00 4.00 1.10
INCL 287.00 291.00 4.00 1.39
AND 302.00 379.00 77.00 0.88
INCL 322.00 325.00 3.00 1.03
INCL 330.70 337.15 6.45 2.32
INCL 340.00 348.00 9.31 1.59
INCL 351.00 363.00 12.00 1.14
INCL 373.00 377.00 4.00 2.17
KDH151 3.00 11.00 8.00 1.26
INCL. 3.00 8.00 5.00 1.81
AND 96.00 122.00 26.00 1.34
INCL. 101.00 105.00 4.00 1.85
INCL. 108.00 121.00 13.00 1.73
AND 128.50 162.00 33.50 1.93
INCL. 128.50 136.00 7.50 1.87
INCL. 139.00 162.00 23.00 2.13
AND 170.65 198.60 27.95 1.12
INCL. 175.00 180.00 5.00 1.19
INCL. 183.00 197.00 14.00 1.44
AND 220.75 296.00 75.25 1.35
INCL. 221.85 254.40 32.55 2.18
INCL. 260.00 268.80 8.80 1.61
AND 313.00 339.00 26.00 0.55
KDH155 3.00 28.30 25.30 0.60
5300N KRD147 1.00 13.00 12.00 0.71
AND 81.00 84.00 3.00 5.65 81.0-82.0m = 16.2g/t Au
KDH150 88.00 116.00 28.00 1.64 95.0-96.0m = 15.55g/t Au;
102.0-103.0m = 11.25g/t Au
AND 157.00 229.30 72.30 2.15 184.8-185.9m = 12.35g/t
Au; 198.0-199.1m = 21.6g/t
Au
INCL. 157.00 177.00 20.00 2.71
INCL. 181.10 204.00 22.90 3.47
INCL. 214.05 228.60 14.55 1.05
AND 238.55 278.20 39.65 0.80
INCL. 238.55 242.00 3.45 1.40
INCL. 265.00 273.25 8.25 1.45
AND 284.00 300.00 16.00 2.03
INCL. 284.00 290 4.90 4.27
INCL. 297.00 300.00 3.00 1.18
AND 339.70 385.50 45.80 0.68 HALTED IN
MINERALIZATION
INCL. 364.00 369.10 5.10 1.49
INCL. 381.80 385.50 3.70 1.39
* holes drilled during current campaign only
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.
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 core 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 core
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.
TABLE 2: Borehole collar coordinates and orientation parameters for
Section 5275N, and 5300N*
SECTION Hole Easting Northing Elevation Depth Dip Azimuth RC DD
ID
(m) (m) (degrees)(degrees)(m) (m)
KDH143 739229 1289424 269 322.50 -55 135 - 322.50
KRD144 739296 1289356 267 171.00 -55 135 53.60 117.40
5275N KDH145 739264 1289389 268 255.05 -58 135 - 255.05
KDH146 739191 1289462 270 400.15 -55 135 - 400.15
KDH151 739368 1289285 266 350.20 -60 315 - 350.20
KDH155 739333 1289320 266 100.00 -55 135 - 100.00
5300N KRD147 739173 1289516 272 100.30 -55 135 42.00 58.30
KDH150 739208 1289480 270 385.50 -60 135 - 385.50
* holes drilled during current campaign only
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.
Figure 1: MAP SHOWING LOCATION OF REPORTED HOLES
files.newswire.ca/407/Fig1_VOLTA.doc
Figure 2: SECTION 5275N
files.newswire.ca/407/Fig2_VOLTA.doc
%SEDAR: 00026749E
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: 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: canada, November 29, Toronto, Volta Resources Inc.
