Volta Resources makes another new gold discovery at the Nassara Prospect, Gaoua Project, Burkina Faso
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TORONTO, Sept. 14, 2011 /CNW/ --
TSX: VTR
TORONTO, Sept. 14, 2011 /CNW/ - Volta Resources Inc. ('Volta' or the 'Company') (TSX: VTR) announces drilling results from a scout, Reverse Circulation ('RC'),
drilling program on the Nassara South-West Gold target ('Nassara SW')
in Burkina Faso. This is the first drilling program to be conducted on
this target, which is located on a parallel structure to the Nassara
Main Zone lying approximately 1.4 kilometers to the northeast (see
Figure 2).
Five out of six shallow scout RC holes, drilled along three fences
perpendicular to the strike of the Nassara SW shear, intersected
mineralization over significant widths. Results from the seventh hole,
YRC07 are still outstanding. Mineralization occurs in a set of
northwesterly trending parallel shears over 600m of strike. The target
remains open along strike in both directions. Highlights include:
-- YRC03 : 10.0m @ 1.37g/t gold
-- YRC04 : 8.0m @ 1.75g/t gold
-- YRC05 : 3.0m @ 1.21g/t gold
-- YRC06 : 10.0m @ 1.01g/t gold
Kevin Bullock, Volta's CEO, said, 'These results from Nassara SW confirm
the prospectivity of parallel structures to the Nassara Main Zone,
significantly adding to the overall potential of the area. Based on
these initial results we are eager to drill another two untested
anomalous structures in the Nassara area.'
Results for the holes are highlighted in Table 1. Analyses of the Volta
samples were undertaken by fire assay on a 50g charge at BIGS 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: Main Gold Intersections
___________________________________________________________
| |FROM | TO |INTERVAL |GRADE | |
|HOLE ID| m | m | m |g/t Au| REMARKS |
|_______|_____|_____|_________|______|______________________|
|YRC02 |17,00|26,00| 9,00| 0,50| |
|_______|_____|_____|_________|______|______________________|
|YRC03 |23,00|33,00| 10,00| 1,37|CORE LOSS : 30.0-32.0m|
|_______|_____|_____|_________|______|______________________|
|AND |53,00|62,00| 9,00| 0,71| |
|_______|_____|_____|_________|______|______________________|
| Incl.|54,00|57,00| 3,00| 1,42| |
|_______|_____|_____|_________|______|______________________|
|YRC04 |28,00|30,00| 2,00| 1,41| |
|_______|_____|_____|_________|______|______________________|
|AND |39,00|47,00| 8,00| 1,75| |
|_______|_____|_____|_________|______|______________________|
|YRC05 |27,00|30,00| 3,00| 1,21| |
|_______|_____|_____|_________|______|______________________|
|YRC06 |42,00|55,00| 13,00| 0,75| |
|_______|_____|_____|_________|______|______________________|
|AND |61,00|71,00| 10,00| 1,01| |
|_______|_____|_____|_________|______|______________________|
Notes on Tables 1:
1. Intervals are hole length. True width is unknown at this time.
2. Intersections are based on a 0.30 g/t Au cut-off with no top cut
applied. Internal dilution (less than 0.30 g/t Au) has been
carried to a maximum (Maximum Internal Dilution) of 3m.
3. The intersections listed in the table represent sections of at
least 3m in excess of 0.5g/t Au or 2m in excess of 1g/t Au.
4. The intersections represent sections drilled by reverse
circulation (RC).
5. The drill holes were generally 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.
6. Samples were sent to BIGS Laboratories in Ouagadougou for standard
preparation followed by Fire Assay on a 50g charge.
7. Certified standards were inserted every 15 samples, field
duplicates about every 25 and blanks about every 25 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.
Soil geochemical sampling and ground geophysical surveying (magnetics
and Induced Polarization (IP) Gradient Array), mapping and subsequent
trenching over the larger Nassara area indicate the presence of several
more structures parallel to Nassara Main Zone shear, including the
Nassara SW shear. The scout drilling carried out over the Nassara SW
target is part of a 15,000m combined reverse circulation ('RC') and
diamond drilling ('DD') program over the larger Nassara gold prospect
on the Danyoro permit. The Danyoro permit forms part of the 100%
Volta-owned Gaoua project in southern Burkina Faso, West Africa (see
Figure 1). The current drilling campaign has been designed to
systematically test wider and higher grade sections along the 2.5km of
mineralised strike identified to date along the Nassara Main Zone
(Nassara MZ) as well as extending the drilling depth to 150m vertical
metres. In addition, scout drilling is being undertaken along strike on
the recently identified northern (3.5km) and southern (2km) extensions
of the Nassara MZ (see Figure 2). The remaining results from drilling
(completed on 3rd September) on the Nassara Main Zone are currently
being finalised and are scheduled to be released later this month.
TABLE 2: Borehole collar coordinates and orientation parameters
_________________________________________
|BHID | UTM_X| UTM_Y|RL |DIP|AZI-TN|DEPTH|
|_____|______|_______|___|___|______|_____|
|YRC01|481562|1127066|329| 55| 55| 70|
|_____|______|_______|___|___|______|_____|
|YRC02|481486|1127013|308| 55| 55| 84|
|_____|______|_______|___|___|______|_____|
|YRC03|481517|1127035|285| 55| 55| 77|
|_____|______|_______|___|___|______|_____|
|YRC04|481226|1127381|285| 55| 55| 90|
|_____|______|_______|___|___|______|_____|
|YRC05|481172|1127648|285| 55| 55| 90|
|_____|______|_______|___|___|______|_____|
|YRC06|481105|1127603|306| 55| 55| 108|
|_____|______|_______|___|___|______|_____|
|YRC07|481263|1127401|310| 55| 55| 88|
|_____|______|_______|___|___|______|_____|
Under the guidelines of National Instrument 43-101, the qualified person
for the Gaoua 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, toward a
development decision.
For further information, please refer to our website www.voltaresources.com or contact:
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 'Figure 1: Regional Setting and location of the Nassara Prospect' and 'Figure 2: Location of boreholes on the Nassara SW Zone, please click http://files.newswire.ca/407/Volta-Sep14.pdf
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2011/14/c3175.html
Kevin Bullock, P.Eng., President & CEO | Andreas Curkovic, Investor Relations | |
Tel: (647) 388-1842 | or | Tel: (416) 577-9927 |
Fax: (416) 867-2298 | ||
Email: kbullock@voltaresources.com |