Volta Confirms New Gold Mineralization at its Large Toulfe Anomaly in North-Western Burkina Faso
TORONTO, Ontario, January 24, 2012 /PRNewswire/ --
- Intersects 25.0 Meters at 1.21g/t Gold and 8.0 Meters at 2.98g/t Gold
TSX: VTR
Volta Resources Inc. ('Volta' or the 'Company')
announces the results from its drilling program recently completed at the Toulfe prospect, at its 100% owned Titao I permit, in northwestern Burkina Faso, West Africa. The program aimed at follow up on the positive auger drilling results generated in 2010 and 2011 (see Volta News Release dated September 21, 2011).The scout drilling program, comprising 70 drill holes (5,607m), targeted a 1.8km long portion of a northeast trending, 3 kilometer long, and up to 500m wide, gold anomaly identified by auger drilling. The anomaly is open both to the northeast and southwest and is subject to some artisanal gold mining activity. The anomaly is coincident with a resistivity high defined by an induced polarization (IP) gradient array survey carried out in December 2010 (see Figure 1).
The program confirmed the presence of a 300-500m wide mineralized corridor hosted in sheared and silicified granitic rocks. The wide, lower-grade mineralized envelope, comprising several zones of higher-grade gold mineralization, has been traced over the entire drilled portion, underlining the importance and potential of the mineralizing system. The drill holes tested the mineralization down to a maximum vertical depth of only 60m. The drilling was therefore limited to highly laterized and weathered litholgies. Deeper drilling, aimed at testing the mineralization underneath the weathered profile will be carried out in the second half of 2012. The mineralization remains open along strike. The highlights from the drilling program include:
- TRC10 : 3.0m @ 2.92g/t gold from 18.0m
- TRC22 : 3.0m @ 1.11g/t gold from 11.0m
- TRC32 : 8.0m @ 2.98g/t gold from 8.0m
- TRC37 : 9.0m @ 1.36g/t gold from 36.0m
- TRC38 : 25.0m @ 1.21g/t gold from 2.0m
- TRC46 : 7.0m @ 1.96g/t gold from 12.0m, including 3.0m @ 3.69g/t gold
- TRC65 : 3.0m @ 1.98g/t gold from 40.0m
- TRC69 : 5.0m @ 1.72g/t gold from 25.0m
- TRC74 : 21.0m @ 0.95g/t gold from 10.0m, including 11.0m @ 1.31g/t gold
Kevin Bullock, Volta's CEO, said, 'These results confirm that Toulfe is a new discovery for us in Burkina Faso. These are impressive first drill holes that provide us with quality targets for our next round of drilling. The results are particularly interesting due to their proximity to surface. As we continue to advance our flagship Kiaka project down the production path, we remain committed to demonstrate that we have further exciting exploration potential in Burkina Faso.'
The holes were drilled to lengths of up to 85 meters, all inclined at -55degree(s) to the southeast. In all 5,600 drill samples and 1,215 control samples (standards, duplicates and blanks) were submitted to ALS Chemex's laboratories 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: Highlights of gold intersections for the reported boreholes.
FROM TO INTERVAL Au
BHID (m) (m) (m) (g/t) COMMENTS
TRC10 18.00 21.00 3.00 2.92
AND 65.00 75.00 10.00 0.52 ENDED IN MINERALIZATION
TRC12 12.00 21.00 9.00 0.47
TRC18 43.00 51.00 8.00 0.33
TRC21 58.00 68.00 10.00 0.34
TRC22 11.00 14.00 3.00 1.11
TRC29 61.00 73.00 12.00 0.76
TRC32 8.00 16.00 8.00 2.98 8.0-9.0m = 21.3g/t Au
TRC34 32.00 35.00 3.00 1.78
AND 66.00 79.00 13.00 0.46
TRC35 72.00 75.00 3.00 1.86
TRC36 32.00 42.00 10.00 0.42
AND 70.00 80.00 10.00 0.91
TRC37 16.00 29.00 13.00 0.31
AND 36.00 45.00 9.00 1.36
AND 53.00 62.00 9.00 0.36
TRC38 2.00 27.00 25.00 1.21 2.0-3.0m = 13.85g/t Au
TRC43 67.00 75.00 8.00 0.33
TRC45 4.00 15.00 11.00 0.38
AND 64.00 72.00 8.00 0.63
TRC46 12.00 19.00 7.00 1.96
INCL 13.00 16.00 3.00 3.69
TRC47 29.00 47.00 18.00 0.35
AND 57.00 73.00 16.00 0.41
TRC51 41.00 49.00 8.00 0.31
TRC53 11.00 21.00 10.00 0.35
AND 29.00 32.00 3.00 1.35
TRC59 78.00 80.00 2.00 2.16 ENDED IN MINERALIZATION
TRC65 40.00 43.00 3.00 1.98
TRC69 25.00 30.00 5.00 1.72
TRC72 30.00 38.00 8.00 0.76
AND 76.00 79.00 3.00 1.21
TRC73 13.00 25.00 12.00 0.96
AND 41.00 49.00 8.00 0.46
AND 72.00 80.00 8.00 0.59 ENDED IN MINERALIZATION
TRC74 10.00 31.00 21.00 0.95
INCL 16.00 27.00 11.00 1.31
AND 57.00 72.00 15.00 0.47 ENDED IN MINERALIZATION
TRC75 9.00 47.00 38.00 0.53
INCL 14.00 17.00 3.00 1.45
Notes on Tables 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. 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 8m in excess of 0.3g/t Au or 3m in excess of 1g/t Au (except for TRC59 ended with 2m of mineralization). 5) No top cut has been applied. 6) The intersections represent sections drilled by reverse circulation (RC; see Table 2). 7) The RC drill holes were generally sampled at 1-m intervals. Samples were riffle-split to provide 2 kg samples which were submitted to the laboratory of the Bureau des Mines et de la Géologie du Burkina (BUMIGEB) for standard preparation (dry, crush, split, pulverize) under Company's supervision. 8) Samples were then sent to ALS Chemex in Ouagadougou for Fire Assay on a 50g charge. 9) Certified standards were inserted every 15 samples, field duplicates (in the RC portions) about every 25 and blanks about every 10 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
HOLE_ ID UTM_EAST UTM_NORTH UTM_ELEV AZIMUTH DIP DEPTH
(m) (degree(s)) (degree(s)) (m)
TRC07 609398 1536735 353.17 135 -55 75.0
TRC08 609432 1536705 353.67 135 -55 75.0
TRC09 609458 1536679 354.00 135 -55 75.0
TRC10 609486 1536650 354.44 135 -55 75.0
TRC11 609514 1536623 354.77 135 -55 75.0
TRC12 609543 1536594 355.27 135 -55 75.0
TRC13 609571 1536564 355.68 135 -55 80.0
TRC14 609600 1536537 355.86 135 -55 80.0
TRC15 609628 1536510 355.98 135 -55 80.0
TRC16 609657 1536481 356.14 135 -55 80.0
TRC17 609685 1536453 356.20 135 -55 80.0
TRC18 609715 1536424 356.46 135 -55 80.0
TRC19 609745 1536394 356.71 135 -55 80.0
TRC20 609205 1536367 353.75 135 -55 70.0
TRC21 609229 1536342 353.96 135 -55 82.0
TRC22 609259 1536311 354.16 135 -55 80.0
TRC23 609288 1536281 354.30 135 -55 80.0
TRC24 609316 1536252 354.66 135 -55 80.0
TRC25 609343 1536224 354.74 135 -55 80.0
TRC26 609372 1536194 354.93 135 -55 80.0
TRC27 609400 1536165 355.25 135 -55 80.0
TRC28 609428 1536136 355.49 135 -55 80.0
TRC29 609456 1536107 355.48 135 -55 80.0
TRC30 609129 1536297 353.73 135 -55 80.0
TRC31 609158 1536267 353.86 135 -55 68.0
TRC32 609185 1536240 353.92 135 -55 80.0
TRC33 609219 1536205 354.04 135 -55 80.0
TRC34 609243 1536180 354.35 135 -55 80.0
TRC35 609275 1536155 354.73 135 -55 85.0
TRC36 609304 1536126 354.82 135 -55 82.0
TRC37 609329 1536099 355.06 135 -55 80.0
TRC38 609360 1536071 355.03 135 -55 73.0
TRC39 609388 1536041 355.21 135 -55 80.0
TRC40 609085 1536195 353.49 135 -55 80.0
TRC41 609114 1536166 353.62 135 -55 80.0
TRC42 609142 1536137 353.81 135 -55 80.0
TRC43 609171 1536109 353.93 135 -55 80.0
TRC44 609199 1536080 354.01 135 -55 80.0
TRC45 609227 1536052 354.33 135 -55 80.0
TRC46 609253 1536025 354.41 135 -55 76.0
TRC47 609283 1536000 354.62 135 -55 80.0
TRC48 609308 1535969 354.59 135 -55 80.0
TRC49 608802 1535911 352.03 135 -55 87.0
TRC50 608838 1535891 352.11 135 -55 80.0
TRC51 608864 1535863 352.09 135 -55 75.0
TRC52 608894 1535829 352.16 135 -55 80.0
TRC53 608924 1535799 352.14 135 -55 80.0
TRC54 608952 1535771 352.18 135 -55 77.0
TRC55 608980 1535743 352.23 135 -55 80.0
TRC56 609007 1535716 352.42 135 -55 80.0
TRC57 609034 1535688 352.54 135 -55 80.0
TRC58 609769 1536933 353.61 135 -55 80.0
TRC59 609799 1536902 353.84 135 -55 80.0
TRC60 609826 1536873 354.39 135 -55 80.0
TRC61 609853 1536845 354.74 135 -55 80.0
TRC62 609879 1536817 354.99 135 -55 80.0
TRC63 609908 1536787 355.06 135 -55 80.0
TRC64 609936 1536759 355.15 135 -55 80.0
TRC65 609964 1536733 354.83 135 -55 80.0
TRC66 609995 1536702 354.79 135 -55 80.0
TRC67 610019 1536677 355.10 135 -55 60.0
TRC68 610110 1537158 352.41 135 -55 80.0
TRC69 610137 1537129 352.72 135 -55 80.0
TRC70 610164 1537102 352.98 135 -55 80.0
TRC71 610192 1537072 353.25 135 -55 80.0
TRC72 610220 1537043 353.67 135 -55 80.0
TRC73 610247 1537015 353.96 135 -55 80.0
TRC74 610274 1536987 354.35 135 -55 72.0
TRC75 610298 1536962 354.62 135 -55 85.0
TRC76 610331 1536927 355.13 135 -55 85.0
TRC77 610364 1536893 355.75 135 -55 80.0
Under the guidelines of National Instrument 43-101, the qualified person for the Titao Project (which includes the Toulfe 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: 'Figure 1: Borehole Collar Location and Highlights of Toulfe Phase 1 RC Drilling'. PDF available at: http://stream1.newswire.ca/media/2012/01/24/20120124_C6304_DOC_EN_9131.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.