Volta Reports High-Grade Extension at Depth at its Kiaka Gold Project in Burkina Faso
TORONTO, February 28, 2012 /PRNewswire/ --
- Intersects 153.0m @ 1.57g/t Gold, Including 30.0m @ 2.80g/t Gold - - Also 59.0m @ 1.95g/t Gold & 76.0m @ 1.45g/t Gold -
TSX: VTR
Volta Resources Inc. ('Volta Resources' or the 'Company')
announces the results from an additional eigth drill holes from its on-going Phase 3 program at its Kiaka Gold Project in Burkina Faso. Phase 3 comprises approximately 50,000m of drilling being undertaken to extend resources in the Central Area, to follow up positive results in the South Area, to test several more ground geophysical targets and undertake scout drilling on regional targets on the Kiaka property (see News Release of 13 October 2011).The reported holes, comprising a total of 3644.1m, were drilled across the Kiaka Main Zone (KMZ) orebody (7 holes) and (one hole) just south of the KMZ. They respectively aimed at extending the resources in the Central Zone at depth and at testing the southern continuity of the KMZ.
The holes on sections 5200N to 5600N confirm the continuity of wide mineralization at depth, extending the mineralization in that area to a vertical depth of over 400m. Hole KDH334 drilled on section 4850N confirms the southward continuity of mineralization. On-going geological modelling indicates that the KMZ is intersected in that area by a gabbroic intrusion which runs approximately parallel to the general trend of the KMZ, splitting it into zones on both the northwestern and southeastern sides of the intrusive. Hole KDH334 intersected (low-grade) mineralization on the southeastern side.
The highlights from the reported drill holes include :
- KDH320 : 171.0m @ 0.83g/t Au, including 6.0m @ 2.30g/t Au
- KDH322 : 153.0m @ 1.57g/t Au, including 30.0m @ 2.80g/t Au AND
12.0m @ 2.62g/t Au
- KDH324 : 28.0m @ 3.33g/t Au, including 9.0m @ 8.69g/t Au AND
- KDH324 : 59.0m @ 1.95g/t Au,
- KDH325 : 89.2m @ 1.01g/t Au, including 6.5m @ 4.62g/t Au
- KDH326 : 76.0m @ 1.45g/t Au, including 13.0m @ 3.09g/t Au AND
- KDH326 : 7.0m @ 4.87g/t Au
Kevin Bullock, Volta's CEO, said, 'These latest results again represent new milestones for Kiaka. When we first started developing the already significant Kiaka deposit, our goals were to expand the deposit deeper and to better delineate the higher grade zones. We have consistently met these goals and, in fact, have accelerated our rate of achievement.
Results for the holes are highlighted in Table 1 and in locations shown in Figure 1. 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 rigorous QA/QC elements that employed the inclusion of certified standards and blanks.
Table 1: Highlights of gold intersections for the reported boreholes
BHID FROM TO INTERVAL Au COMMENTS
(m) (m) (m) (g/t)
KDH320 191.00 301.00 110.00 0.68
INCL 191.00 195.00 4.00 4.16
INCL 198.00 205.00 7.00 1.42
INCL 220.00 224.00 4.00 1.84
INCL 265.00 269.20 4.20 1.12
INCL 288.00 290.30 2.30 1.33
AND 399.00 570.00 171.00 0.83
INCL 409.00 412.00 3.00 1.46
INCL 424.00 427.00 3.00 1.19
INCL 430.00 436.00 6.00 2.30
INCL 454.20 459.00 4.80 1.48
INCL 469.00 474.60 5.60 1.41
INCL 492.50 497.00 4.50 1.17
INCL 499.40 506.00 6.60 1.87
INCL 515.00 518.70 3.70 1.39
INCL 521.70 531.00 9.30 1.37
INCL 552.00 557.00 5.00 1.19
AND 579.00 647.00 68.00 0.66
INCL 584.00 587.00 3.00 1.59
INCL 595.00 599.00 4.00 1.40
INCL 610.70 616.85 6.15 1.25
KDH322 23.60 28.50 4.90 1.28
AND 103.00 117.00 14.00 0.62
AND 144.10 153.00 8.90 1.59
INCL 144.10 152.00 7.90 1.74
AND 244.00 319.95 75.95 0.90
INCL 258.00 265.00 7.00 1.58
INCL 280.00 293.00 13.00 1.05
INCL 296.00 305.85 9.85 1.08
372.5-373.0 = 22.9g/t Au;
AND 327.00 480.00 153.00 1.57 420.0-421.0m = 20.6g/t Au
INCL 335.20 337.50 2.30 2.09
INCL 340.00 344.00 4.00 2.07
INCL 371.00 383.00 12.00 2.62
INCL 401.10 431.10 30.00 2.80
INCL 434.60 450.70 16.10 1.76
INCL 453.00 462.00 9.00 1.72
KDH324 215.00 218.00 3.00 4.65 216.0 - 217.0m =12.70g/t Au
AND 226.10 236.70 10.60 0.55
AND 246.55 281.00 34.45 1.34
INCL 268.00 281.00 13.00 2.09
311.0 - 312.0m = 20.70g/t Au and 312
AND 296.00 324.00 28.00 3.33 - 313 = 46g/t Au
INCL 296.00 299.00 3.00 1.13
INCL 305.00 314.00 9.00 8.69
AND 348.80 380.00 31.20 0.67
AND 419.50 445.00 25.50 1.23 428.0-428.75m = 14.4g/t Au
INCL 420.00 429.50 9.50 2.19
INCL 437.00 442.00 5.00 1.12
AND 452.00 511.00 59.00 1.95 466.25 - 466.9m = 87.34g/t Au
AND 519.00 521.00 2.00 1.21
KDH325 242.30 256.75 14.45 0.65
INCL 252.00 256.75 4.75 1.30
AND 279.55 397.00 117.45 0.72
INCL 288.00 294.00 6.00 1.62
INCL 319.00 342.00 23.00 1.34
INCL 391.40 397.00 5.60 1.68
AND 420.10 509.30 89.20 1.01 ENDED IN MINERALIZATION
INCL 472.00 479.00 7.00 1.31
484.5-485.2m = 13.25g/t Au;
INCL 484.50 491.00 6.50 4.62 490.0-491.0m = 5.5g/t Au
INCL 497.00 500.00 3.00 2.38
KDH326 210.70 218.00 7.30 1.00
AND 239.00 250.00 11.00 0.78
INCL 245.00 249.00 4.00 1.15
AND 270.00 346.00 76.00 1.45 289.0 - 290.0m = 30g/t Au
INCL 282.00 295.00 13.00 3.09
INCL 317.00 336.00 19.00 1.66
INCL 339.00 346.00 7.00 1.55
AND 356.00 412.00 56.00 0.75
INCL 374.00 381.00 7.00 1.02
INCL 384.00 402.00 18.00 0.88
INCL 408.00 412.00 4.00 1.18
AND 420.00 427.00 7.00 4.87 426.0 - 427.0m = 26g/t Au
AND 493.00 496.00 3.00 1.35
KDH328 306.00 376.40 70.40 0.63 348.0 - 349.0m = 15.60g/t Au
INCL 346.00 349.00 3.00 5.65
AND 393.00 429.00 36.00 0.72
INCL 401.00 404.00 3.00 0.96
INCL 408.00 415.00 7.00 1.27
Notes on Table 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 envelop.
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.
4) No top cut has been applied.
5) 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.
6) The intersections represent sections drilled by cored drilling (see Table 2).
7) The cored drill holes were 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.
8) Samples were sent to ALS Chemex in Ouagadougou for standard preparation
followed by Fire Assay on a 50g charge.
9) 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 : Collar coordinates and orientation parameters for the reported boreholes
SECTION Hole ID Easting Northing Elevation Depth Dip Azimuth
(m) (m) (degrees) (degrees)
5625N KDH320 739331 1289815 275.0 702.93 -60 135
KDH325 739703 1289446 265.5 509.30 -60 315
5300N KDH322 739459 1289235 264.1 530.30 -60 315
5250N KDH324 739421 1289198 264.4 532.47 -60 315
5200N KDH326 739390 1289164 264.7 517.80 -60 315
5100N KDH328 739032 1289372 270.6 520.20 -60 135
4850N KDH334 739136 1288915 267.5 331.10 -58 315
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 Resources. Mr. Franceschi is a member of the European Federation of Geologists and has reviewed and approved the contents of this news release.
Volta Resources has a portfolio of quality gold exploration projects in Burkina Faso and Ghana, both mining-friendly West African jurisdictions with proven world-class gold deposits. VTR will focus on fast-tracking its flagship Kiaka Gold Project (NI-43-101 compliant resources include 90.29 million tonnes @ 1.04 g/t Au for 3,018,000 ounces in the Measured and Indicated categories and 38.52 million tonnes @ 1.00 g/t Au for 1,260,000 ounces in the Inferred category [Please see VTR press release dated June 29, 2011]) towards a development decision, aiming to complete a Feasibility Study in Q1, 2013. Recent acquisition of properties around Kiaka have provided VTR with an extensive ground position along the highly prospective Markoye Fault Corridor in an important emerging gold province. VTR will also advance exploration at its Gaoua Copper-Gold Project, Nassara Gold Project and Titao Gold Project, all located in Burkina Faso.
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 Resources 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 Resources 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: Location and highlights for drill holes in the current press release'. PDF available at: http://stream1.newswire.ca/media/2012/02/28/20120228_C7896_DOC_EN_10491.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
or
Andreas Curkovic, Investor Relations
Tel: +1(416)577-9927
(VTR.)
Volta Resources Inc.