TORONTO, June 8, 2011 /PRNewswire/ --
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announced today that it has commenced a combined reverse circulation ("RC") and diamond drilling ("DD") program for a total of approximately 15,000 metres at its Nassara gold prospect on the Danyoro permit, which forms part of the 100% owned Gaoua project in southern Burkina Faso, West Africa (see Figure 1 here: http://files.newswire.ca/407/VoltaFig1(1).pdf). The current program will follow up the positive drilling results obtained in January and June-August 2010 (see News Releases of 28 January 2010 and August 12, 2010).
Since the release of the results of its drilling campaign in August 2010 a Gradient Array Induced Polarisation ("IP") survey, as well as additional trenching and auger drilling have been carried out over the Northern and Southern extensions of the Nassara Main Zone (Nassara MZ) as well as over a parallel low-lying "whaleback" ridge (Nassara SW) that appears to be coincident with similarly enhanced gold anomalism.
The IP survey at Nassara Main Zone ("Nassara MZ") suggests that the mineralized sheared contact, between the low-chargeable volcanics and highly-chargeable sediments, extends over an additional 3.5km along strike (see Figure 2 here: http://files.newswire.ca/407/VoltaFigure2.doc). The extension is currently being followed-up with wide-spaced trenching and auger drilling.
Kevin Bullock, Volta's CEO, said, "The exploration work carried out at Nassara since the last drilling program confirms that the Nassara gold prospect has significant gold targets and we plan to test these targets with an expanded program."
The current drilling campaign will aim at systematically testing three wider and higher grade sections along the 2.5km of strike identified so far along the Nassara MZ as well as extending the drilling depth to 150m vertical metres. In addition, scout drilling will be undertaken along strike on the recently identified northern (3.5km) and southern (2km) extensions of the Nassara MZ. The 15,000 metre drilling program will continue until the onset of the seasonal rains when it will then be interrupted for approximately three months, from mid-August to late October or November.
Previously, first pass shallow drilling results on the Nassara MZ yielded highlights of 15.0m @ 4.45g/t gold from 10.0m, 11.0m @ 2.18g/t gold from 38.0m, 5.0m @ 6.50g/t gold from 47.0m, 19.0m @ 2.22g/t gold from 2.0m and 9.0m @ 11.15g/t gold from 51.0m (see Figure 2 here: http://files.newswire.ca/407/VoltaFigure2.doc).
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.
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.
For further information: please refer to our website http://www.voltaresources.com or contact:
Kevin Bullock, P.Eng., Andreas Curkovic, President & CEO Investor Relations Tel: +1(647)388-1842 Tel: +1(416)577-9927 Fax: +1(416)867-2298 Email: firstname.lastname@example.org
SOURCE Volta Resources Inc.