Volta Extends Gold Mineralization at its Nassara Gold Prospect in Southwestern Burkina Faso
TORONTO, October 20, 2011 /PRNewswire/ --
-Intersections of 16.0 meters @ 3.12g/t gold and 23.0 meters @
2.04 g/t gold-
Volta Resources Inc. ('Volta' or the 'Company')
announces the results from the third phase of its drilling program at the Nassara prospect, on its 100% owned Danyoro permit, in southwestern Burkina Faso, West Africa.The reported drill results, comprising 44 drill holes (7,334 metres), represent the first part of a 15,000 meter drilling program which aims at systematically testing three wider and higher grade sections along the 2.2km of strike identified so far along the Nassara Main Zone (Nassara MZ) as well as extending the drilling depth to 150 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 News Release of June 8th, 2011) as well as along a series of parallel shear structures, including Nassara SW (see News Release of September 14th 2011).
The highlights from the drilling program include (see Figure #1):
NRC34 : 14.00m @ 0.95g/t Au, including 4.0m @ 2.31g/t Au
NRC37 : 8.00m @ 2.49g/t Au
NRC47 : 9.00m @ 2.66g/t Au
S08N : 14.00m @ 0.91g/t Au, including 3.0m @ 1.33g/t Au
S10N : 23.00m @ 2.04g/t Au
S20N : 5.94m @ 2.01g/t Au AND
15.00m @ 1.09g/t Au, including 3.0m @ 4.35g/t Au.
S24N : 15.00m @ 1.44g/t Au
S26N : 5.40m @ 2.04g/t Au
S28N : 4.00m @ 2.50g/t Au
S32N : 16.00m @ 3.12g/t Au, including 9.0m @ 4.97g/t Au.
Kevin Bullock, Volta's CEO, said,' Not only are these results notable in themselves they have provided us with clear evidence of favourable mineralization that we will be pursuing in our continuing drilling.'
The holes were drilled to lengths of up to 270 meters, all inclined at -60degree(s) to the north-east. In all, 7,315 regular drill samples and 995 control samples (standards, duplicates and blanks) were submitted to the BIGS laboratory in Ouagadougou, Burkina Faso. Volta's sampling and assay procedures included QA/QC elements that employed the inclusion of certified standards and blanks.
Table 1: Main Gold Intersections
HOLE FROM TO INTERVAL Au
ID (m) (m) (m) (g/t) COMMENTS
NRC34 21.00 24.00 3.00 0.67
AND 124.00 138.00 14.00 0.95
incl. 124.00 128.00 4.00 2.31
Ended in mineralization;
NRC37 119.00 127.00 8.00 2.49 123.0-125.0m = core loss
NRC38 61.00 63.00 2.00 1.00
NRC39 25.00 43.00 18.00 0.75
incl. 25.00 30.00 5.00 1.64
NRC40 6.00 21.00 15.00 0.49
incl. 7.00 10.00 3.00 0.96
AND 67.00 71.00 4.00 0.94
NRC42 80.00 83.00 3.00 0.90
98.0-99.0m = 11.81g/t Au. Ended in
NRC45 97.00 100.00 3.00 5.29 mineralization
NRC46 118.00 122.00 4.00 2.91
AND 139.00 144.00 5.00 0.56
NRC47 85.00 94.00 9.00 2.66
S07N 57.00 62.00 5.00 1.95
S08N 11.00 25.00 14.00 0.91
incl. 14.00 17.00 3.00 1.33
incl. 21.00 25.00 4.00 1.15
S09N 114.00 117.00 3.00 0.56
AND 136.00 146.50 10.50 0.87
S10N 3.00 26.00 23.00 2.04 3.0-4.0m = 36.19g/t Au
S11N 74.60 77.80 3.20 0.53
S12N 115.30 120.30 5.00 1.74
S13N 113.00 116.00 3.00 1.64
S14N 8.00 19.00 11.00 0.97
incl. 9.00 12.00 3.00 1.82
S17N 142.00 152.00 10.00 0.91
incl. 142.00 145.00 3.00 2.63
S19N 72.20 75.00 2.80 1.61
AND 176.00 188.80 12.80 0.53
S20N 51.00 56.94 5.94 2.01 51.0-52.0m = 10.53g/t Au
AND 164.00 179.00 15.00 1.09
incl. 164.00 167.00 3.00 4.35
S21N 60.00 63.00 3.00 0.54
S22N 41.00 45.00 4.00 0.63
AND 63.00 78.30 15.30 0.99
incl. 73.90 78.30 4.40 1.83
AND 171.00 176.50 5.50 0.53
S23N 49.00 54.00 5.00 0.61
AND 94.82 97.30 2.48 0.69
AND 172.00 175.00 3.00 3.92
S24N 100.00 108.00 8.00 0.59
AND 153.00 168.00 15.00 1.44
incl. 159.50 168.00 8.50 1.43
S25N
AND 182.00 184.14 2.14 1.13
AND 198.00 204.00 6.00 1.41
S26N 114.00 119.40 5.40 2.04
AND 153.00 158.00 5.00 0.66
AND 166.00 168.00 2.00 1.86
S27N 117.00 124.00 7.00 0.82
incl. 119.00 124.00 5.00 1.05
S28N 21.25 24.00 2.75 2.77
AND 127.00 131.00 4.00 2.50
S30N 44.00 47.00 3.00 0.51
AND 52.30 56.00 3.70 0.49
AND 92.00 100.60 8.60 0.52
AND 188.00 190.00 2.00 1.68
S31N 205.00 209.00 4.00 0.86
AND 215.90 220.00 4.10 0.54
S32N 140.00 156.00 16.00 3.12
incl. 141.00 150.00 9.00 4.97
Notes on Table 1:
1) Intervals are core 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.
3) Internal dilution (less than 0.30 g/t Au) has been carried to a
maximum (Maximum Internal Dilution) of 3m except for NRC40 (56.0-21.0m)
and S19N (176.0-188.8m) where the maximum dilution has been set at 4m
and for S20N (164.0-179.0m) where it has been set at 5m.
4) 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.
5) In order to highlight high grade core zones, a 1.0 g/t gold
cut-off with a Maximum Internal Dilution of 2m has been used.
6) Where core losses were reported in the mineralized intercepts,
the width of the entire mineralized intercept is reported at the
weighted average grade of the remaining samples
7) The intersections represent sections drilled by reverse
circulation (RC) and/or core drilling (see Table 2).
8) The RC portions of 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. The cored portion of the drill holes were
generally sampled at one meter 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.
9) Samples were sent to BIGS Laboratory in Ouagadougou for
standard preparation followed by Fire Assay on a 50g charge.
10) Certified standards were inserted every 15 samples, field
duplicates (in the RC portions) 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.
The drilling confirmed the presence of multiple parallel mineralized shears and confirmed the depth extension of the mineralization. The shears are part of a larger regional shear system extending in excess of 100km from Batié in the Southeast to Gaoua in the North. The mineralization occurs in proximity to the contact of mafic rock formations (volcanoclastics and/or volcanics), which constitute the hanging wall, and a sedimentary unit (schists), constituting the footwall. Drilling also appears to confirm that the mineralization exhibits higher grades and improved widths in discrete zones along strike, currently interpreted as being northwesterly plunging shoots with a surface footprint ranging between 300m and 600m along strike. The mineralization is related to intensive silicification (local quartz veining) and sericitization, carbonation and weak sulphidation.
The program was interrupted in late August, due to the onset of the seasonal rains. It is planned to resume drilling as soon as access to the area permits, probably in mid to late November.
TABLE 2: Borehole collar coordinates and orientation parameters
BHID UTM_X UTM_Y RL AZI-TN DIP DEPTH RC DD
(m) (degrees) (degrees) (m) (m) (m)
NRC34 482892 1127445 287.9 56 -60 146 146 0
NRC35 482869 1127550 285.6 56 -60 105 105 0
NRC36 482829 1127522 287.6 56 -60 144 144 0
NRC37 482771 1127604 286.1 56 -60 127 127 0
NRC38 482815 1127631 284.7 56 -60 108 108 0
NRC39 482713 1127687 284.9 56 -60 150 150 0
NRC40 482657 1127893 278.1 56 -60 102 102 0
NRC41 482005 1128656 278.8 56 -60 123 123 0
NRC42 481873 1128811 278.6 56 -60 94 94 0
NRC43 481832 1128899 278.8 56 -60 100 100 0
NRC44 481728 1128951 283.4 56 -60 130 130 0
NRC45 481661 1129022 285.1 56 -60 100 100 0
NRC46 481632 1129005 285.8 56 -60 156 156 0
NRC47 481604 1129107 287.0 56 -60 138 138 0
NRC48 481576 1129088 287.1 56 -60 143 143 0
NRC49 481504 1129161 288.3 56 -60 132 132 0
NRC50 481452 1129245 289.2 56 -60 150 150 0
NRC51 481510 1129263 289.3 56 -60 100 100 0
S07N 482562 1127947 280.2 56 -60 150 84.2 65.8
S08N 482581 1127960 280.6 56 -60 100 67.5 32.5
S09N 482598 1127850 279.0 56 -60 149.6 108.2 41.4
S10N 482524 1128041 282.5 56 -60 150 63.1 86.9
S11N 482541 1128052 282.2 56 -60 102 61.3 40.7
S12N 482171 1128405 280.6 56 -60 170 96 74
S13N 482268 1128352 281.8 56 -60 146 61 85
S14N 482114 1128484 276.5 56 -60 175.4 52.2 123.2
S15N 481930 1128724 279.4 56 -60 100 72 28
S16N 481890 1128697 280.8 56 -60 150 81 69
S17N 481829 1128782 280.0 56 -60 156 60 96
S18N 481792 1128872 280.8 56 -60 180 96 84
S19N 482849 1127417 289.0 56 -60 250 0 250
S20N 482736 1127579 286.7 56 -60 200 0 200
S21N 482792 1127495 288.0 56 -60 220 0 220
S22N 482085 1128449 285.0 56 -60 247 48 199
S23N 482678 1127661 284.7 56 -60 202 0 202
S24N 482644 1127760 286.0 56 -60 180 0 180
S25N 482564 1127827 268.0 56 -60 265 0 265
S26N 482524 1127923 283.0 56 -60 250 0 250
S27N 482129 1128378 285.0 56 -60 224 0 224
S28N 481975 1128636 289.0 56 -60 270 0 270
S29N 482236 1128329 286.0 56 -60 208 0 208
S30N 482000 1128532 289.0 56 -60 256 0 256
S31N 481853 1128687 292.0 56 -60 238.4 0 238.4
S32N 482424 1128016 289.0 56 -60 250 0 250
Under the guidelines of National Instrument 43-101, the qualified person for the Gaoua project (Nassara Prospect) 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.
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.
PDF with caption: 'Volta extends gold mineralization at its Nassara gold prospect in southwestern Burkina Faso'. PDF available at: http://stream1.newswire.ca/media/2011/10/20/20111020_C5843_DOC_EN_5107.pdf
For further information, please refer to our website http://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
Tel: 1(416)577-9927
Volta Resources Inc.
CONTACT: .