TORONTO, September 21, 2011 /PRNewswire/ --
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces that it has commenced a reverse circulation ("RC") drilling program for a total of approximately 5,300 meters at its Toulfe prospect on the Titao 1 permit, which forms part of the 100% owned Titao gold project in northwestern Burkina Faso, West Africa (see Figure 1: http://files.newswire.ca/407/Volta_Figure_1_Sept_21.pdf). The current program will follow up the positive auger drilling results generated in 2010 and 2011 (see Volta News Release dated April 29, 2010).
Since the release of the results of Volta's auger drilling campaign in April 2010 additional auger drilling has been carried out over the Titao gold project in general and the Toulfe area in particular. To date over 2,040 auger holes have been drilled over the project, totaling more than 21,500m. Several gold anomalies have been identified throughout the project area, amongst which, to date, the northernmost tested target, the Toulfe prospect, is the most prominent. Auger drilling at Toulfe has defined a northwest trending, three (3) kilometer long, and up to 500m wide gold anomaly, where gold results for samples taken in saprolite at the base of the holes, regularly exceed 0.1g/t gold with several samples returning > 2g/t gold (see Figure 2: http://files.newswire.ca/407/Volta_Resources_Figure_2_Sept_21.pdf). 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 gradient array survey carried out in December 2010.
Kevin Bullock, Volta's CEO, said, "From a process that has taken us through acquisition, detailed geophysics and auger geochemistry we are delighted to be carrying out drilling on our first target within the Titao gold project discovered underneath masking transported cover."
The current scout drilling program will aim at testing the central part of the Toulfe auger anomalism over 1.8km of strike. This initial phase of drilling will provide more insight on the style of mineralization. More drilling, both infill and extension along strike, is planned at Toulfe in the latter part of 2011 after a thorough assessment of the results of the current campaign.
The Company is also pleased to announce that an exclusive exploration permit for the 184km² Toulfe Nord property (see Figure 1: http://files.newswire.ca/407/Volta_Figure_1_Sept_21.pdf) has been granted by the Ministry in charge of mining in Burkina Faso to Volta's subsidiary, Wentworth Gold SARL. The property, adjacent the to Titao I permit extends the Titao gold project area towards the Northeast. It extends the propsective Toulfe prospect which is situated in the northernmost part of the Titao I permit. Intensive auger drilling and ground geophyisal surveys are planned to be carried out during the 2011-2012 exploration campaign which starts after the rainy season, sometime in October.
Under the guidelines of National Instrument 43-101, the qualified person for the Titao gold 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 http://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.
For further information:
Kevin Bullock, P.Eng., President & CEO
Tel: +1(647) 388-1842
Fax: +1(416) 867-2298
Andreas Curkovic, Investor Relations
Tel: +1(416) 577-9927
SOURCE Volta Resources Inc.