Volta Reports More Wide Mineralized Intercepts in the Next Section of Drilling at its Kiaka Gold Project Including 119.5m (at) 1.15g/t Gold, 108.45m (at) 1.06g/t Gold and 94m (at) 1.21g/t Gold
By Volta Resources Inc., PRNETuesday, April 20, 2010
TORONTO, April 21, 2010 - Volta Resources Inc. ("Volta" or the "Company")
(TSX: VTR) announces the drill results from the next completed section at its
Kiaka Gold Project, located approximately 120 kilometres southeast of
Ouagadougou, the capital city of Burkina Faso. To date, 88 holes (~13,674
meters) have been completed of the current program comprising more than 110
holes ((greater than)17,400 meters) planned for the Central Area at Kiaka. So
far results have been received for 71 holes from this area, with the current
news release covering the latest 6 holes, which are all located on Section
5600N (See Figure 1). The highlights from this section include:
- KDH55 : 119.25m (at) 1.15g/t Au, including 56.00m (at) 1.76g/t Au
AND
- KDH55 : 39.75m (at) 1.81g/t Au, including 31.10m (at) 2.24g/t Au
- KRD56 : 66.00m (at) 1.16g/t Au, including 34.00m (at) 1.36g/t Au
- KRD57 : 94.00m (at) 1.21g/t Au, including 5.00m (at) 2.26g/t Au and
44.00m (at) 1.50g/t Au AND
- KRD57 : 81.00m (at) 1.02g/t Au, including 11.00m (at) 2.38g/t Au
- KRD58 : 42.00m (at) 0.78g/t Au, including 3.00m (at) 2.51g/t Au and
3.00m (at) 2.79g/t Au
- KDH59 : 108.45m (at) 1.06g/t Au, including 45.35m (at) 1.25g/t Au
and 18.75m (at) 1.95g/t Au
- KKRC32 : 22.00m (at) 0.67g/t Au, including 5.00m (at) 1.60g/t Au
Kevin Bullock, Volta's CEO, said, "Once again we have encountered widths
at better than expected grades from the KMZ zone. As we near completion of
our first drill campaign at Kiaka we can unequivocally state that the results
have consistently exceeded expectations. We look forward to soon
incorporating all of the results into our initial resource estimate, which
will support our plans to aggressively move to the next stage in developing
Kiaka to its ultimate potential."
In order to appreciate the extent and geometry of the mineralization on
the 5600N section, the results for the intersections for the six Volta holes
are highlighted in Table 1 below and on the section in Figure 2. 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 Section 5600N
-------------------------------------------------------------------------
HOLE ID FROM TO INTERVAL GRADE COMMENT
m m m g/t Au
-------------------------------------------------------------------------
KDH55 19.00 138.25 119.25 1.15
-----------------------------------------------
Including 72.00 128.00 56.00 1.76
-----------------------------------------------
Including 131.00 138.25 7.25 1.36
-----------------------------------------------
AND 145.10 162.00 16.90 1.25
-----------------------------------------------
Including 148.00 162.00 14.00 1.35
-----------------------------------------------
AND 171.85 211.60 39.75 1.81
-----------------------------------------------
Including 178.80 209.90 31.10 2.24
-----------------------------------------------
AND 220.85 272.00 51.15 0.60
-----------------------------------------------
Including 224.85 235.00 10.15 0.91
-----------------------------------------------
Including 252.00 261.00 9.00 1.32
-------------------------------------------------------------------------
-------------------------------------------------------------------------
KRD56 1.00 48.00 47.00 0.86
-----------------------------------------------
Including 1.00 5.00 4.00 1.53
-----------------------------------------------
Including 13.00 41.00 28.00 1.02
-----------------------------------------------
AND 58.00 73.00 15.00 0.59
-----------------------------------------------
AND 80.00 146.00 66.00 1.16
-----------------------------------------------
Including 81.00 115.00 34.00 1.36
-----------------------------------------------
Including 119.00 128.00 9.00 1.10
-----------------------------------------------
Including 133.00 146.00 13.00 1.29
-----------------------------------------------
AND 157.00 204.00 47.00 0.90
-----------------------------------------------
Including 157.00 165.00 8.00 1.02
-----------------------------------------------
Including 170.00 187.00 17.00 1.14
-----------------------------------------------
Including 191.00 199.00 8.00 1.15
-------------------------------------------------------------------------
-------------------------------------------------------------------------
KRD57 1.00 95.00 94.00 1.21
-----------------------------------------------
Including 5.00 10.00 5.00 2.26
-----------------------------------------------
Including 25.00 34.00 9.00 1.18
-----------------------------------------------
Including 39.00 47.00 8.00 1.24
-----------------------------------------------
Including 50.00 94.00 44.00 1.50
-----------------------------------------------
AND 110.00 191.00 81.00 1.02
-----------------------------------------------
Including 113.00 124.00 11.00 2.38
-----------------------------------------------
Including 129.00 139.00 10.00 1.35
-----------------------------------------------
Including 142.00 145.00 3.00 2.04
-----------------------------------------------
Including 154.00 161.00 7.00 1.31
-------------------------------------------------------------------------
-------------------------------------------------------------------------
KRD58 0.00 42.00 42.00 0.78
-----------------------------------------------
Including 8.00 11.00 3.00 2.51
-----------------------------------------------
Including 22.00 25.00 3.00 2.76
-----------------------------------------------
AND 57.00 89.00 32.00 0.60
-----------------------------------------------
Including 77.00 79.90 2.90 1.95
-----------------------------------------------
AND 97.00 132.00 35.00 0.63
-----------------------------------------------
Including 101.00 105.00 4.00 1.08
-----------------------------------------------
Including 113.00 119.10 6.10 1.62
-------------------------------------------------------------------------
-------------------------------------------------------------------------
KDH59 7.00 17.00 10.00 2.38
-----------------------------------------------
AND 28.00 35.50 7.50 2.46
-----------------------------------------------
Including 32.20 35.50 3.30 4.88
-----------------------------------------------
AND 68.65 177.10 108.45 1.06 Max internal dilution
(equal sign)6m
-----------------------------------------------
Including 68.65 114.00 45.35 1.25
-----------------------------------------------
Including 68.65 79.00 10.35 1.33
-----------------------------------------------
Including 81.35 85.55 4.20 2.00
-----------------------------------------------
Including 88.00 114.00 26.00 1.24
-----------------------------------------------
Including 136.10 139.40 3.30 1.08
-----------------------------------------------
Including 144.25 163.00 18.75 1.95
-----------------------------------------------
AND 191.00 200.07 9.07 0.41 Ended in mineralisation
-------------------------------------------------------------------------
-------------------------------------------------------------------------
KKRC32 8.00 30.00 22.00 0.67
------------------------------------------------
Including 8.00 13.00 5.00 1.60
------------------------------------------------
AND 37.00 85.00 48.00 0.35 Ended in mineralisation
-------------------------------------------------------------------------
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 (MID) of 5m for the lower grade mineralization
envelope (increased to 6m for KDH59).
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. (except for KDH59 and KKRC32 where the holes end in
mineralization and, so, the last mineralized intervals are less than
10m (at) 0.50g/t Au)
5) The intersections also 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.
To date, assay results have been received for eight sections drilled
between 5250N and 5600N and covering 350m of strike of the central portion of
the Central Area. All sections were well mineralized and include very wide
intersections such as 136m (at) 1.66g/t Au (KRD25); 191m (at) 1.31 g/t Au
(KRD33); 93.0m (at) 1.59g/t gold, including 57.0m (at) 2.05g/t Au (KDH29);
82.10m (at) 2.27 g/t Au (KRD38); 219m (at) 0.90g/t Au (KRD43) and 90.90m (at)
1.06g/t Au (KDH49); 120.5m (at) 0.94g/t Au (KRD52) and 62.24m (at) 2.25g/t Au
Including 19m (at) 4.62g/t Au (KRD51); 72m (at) 1.12g/t Gold (KRD53). Within
this broad mineralized lower grade envelope, discrete higher grade zones can
be traced from hole to hole and from section to section. In addition the
results from drilling of the Kiaka Hanging Wall Zone, a mineralized zone
parallel to the Kiaka Main Zone (KMZ), have demonstrated the additional
mineralized potential outside of the KMZ.
Volta's current drill program will test 1,200m strike of the 2,800m long
KMZ zone in the Central Area. The program will infill and extend drilling on
the Central Area such that the KMZ zone is drilled to 50m x 50m spacing from
surface to 150m and 100m x 50m from 150m to 200m depth. Volta intends to
complete the program by the middle of May 2010 and to finalize a National
Instrument 43-101 ("NI43-101") compliant resource before the end of June
2010.
TABLE 2: Borehole collar coordinates and orientation parameters
-------------------------------------------------------------------------
Hole Easting Northing Eleva-
ID tion Dip Azimuth Depth DD RC
-----------------------------------------------
(m) (degrees)(degrees) (m) (m) (m)
-------------------------------------------------------------------------
KDH55 739477 1289642 269.40 58.00 135.00 275.00 0.00 275.00
-------------------------------------------------------------------------
KDH59 739603 1289518 267.21 55.00 315.00 200.07 0.00 200.07
-------------------------------------------------------------------------
KRD56 739503 1289616 269.07 58.00 135.00 225.52 90.00 135.52
-------------------------------------------------------------------------
KRD57 739531 1289589 268.40 58.00 135.00 222.00 66.00 156.00
-------------------------------------------------------------------------
KRD58 739564 1289555 268.01 56.00 135.00 149.77 66.00 83.77
-------------------------------------------------------------------------
KKRC32 739602 1289518 267.20 55.00 135.00 85.00 85.00 0.00
-------------------------------------------------------------------------
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.
To view Figure 1 and Figure 2 of Volta's Kiaka Gold Project, please
visit files.newswire.ca/407/Volta_Kiaka_April21.doc
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-lookingstatements 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
