Volta Confirms Continuity and Extends Mineralization to the Northeast at its Kiaka Gold Project in Burkina Faso
23 Jun, 2011, 15:51 BST
TORONTO, June 23, 2011 /PRNewswire/ --
- Intersects 126.0m @ 1.57g/t Gold, Including 13.0m @ 3.26g/t Gold
TSX: VTR
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the drill results from the next completed sections from its on-going drilling program comprising more than 250 holes for approximately 50,000 meters in the Central Area at its Kiaka Gold Project in Burkina Faso (see News Release of 22 September 2010).
Results for an additional 79 holes located on nine Sections, between 5700N and 6200N have been received and are included in this press release. The nine sections are 50m apart and include 5700N, 5750N, 5800N, 5850N, 5900N, 5950N, 6000N, 6050N and 6200N; thereby extending and confirming continuity of mineralization 550m north of previous released section 5650N (see News Release of May 31st 2011). The highlights from current drilling on these sections include:
- KDH263 : 183.00m @ 1.03g/t Au, including 17.00m @ 1.56g/t Au
- KDH276 : 126.00m @ 1.57g/t Au, including 13.00m @ 3.26g/t Au
- KDH268 : 246.18m @ 0.87g/t Au, including 6.00m @ 1.85g/t Au
- KDH271 : 196.00m @ 0.92g/t Au, including 30.00m @ 1.58g/t Au
- KRD274 : 158.60m @ 0.65g/t Au, including 3.00m @ 4.96g/t Au
- KRD274 : 66.00m @ 0.94g/t Au, including 5.00m @ 3.19g/t Au
- KKRC56 : 32.00m @ 0.66g/t Au, including 5.00m @ 2.09g/t Au
- KKRC60 : 13.00m @ 1.71g/t Au
- KKRC63 : 21.00m @ 1.27g/t Au, including 6.00m @ 3.15g/t Au
- KKRC68 : 36.00m @ 0.60 g/t Au, including 3.00m @ 1.83 g/t Au
- KKRC109 : 53.00m @ 0,59g/t Au, including 4.00m @ 2.37g/t Au
- KKRC118 : 25.00m @ 1.24g/t Au, including 5.00m @ 3.58g/t Au
- KKRC 89 : 22.00m @ 1.29g/t Au, including 12.00m @ 2.05g/t Au
Kevin Bullock, Volta's CEO, said, "We continue to demonstrate that Kiaka is deeper, wider and better than originally defined last year. After the imminent release of our updated resource we will focus on a pre-feasibility study that will be designed to optimize mine planning to maximize the value at Kiaka".
Holes KDH263, KDH276, KDH271, KDH268 and KRD274 on Sections 5700N, 5750N and 5800N confirm the continuity of wide mineralization, typical of the Kiaka Main Zone (KMZ) deposit, north of Section 5650N underneath a South-East shallow dipping fault. These holes have also extended the KMZ mineralization down to vertical depth exceeding 400m. The mineralization still remains open towards the Northeast.
Above the fault, mineralization occurs as narrower sub-vertical intersections, typical of the Hanging Wall Zone (KHZ) style. Holes KKRC89, KKRC90 and KKRC91 on Section 6200N have extended the KHZ mineralization (+30m wide) along strike to over 550m northeast of previous released section 5650N (see News Release of May 31st 2011).
The sections further confirm the continuity of the KHZ towards the northeast. The KHZ consists of a set of steep northwest dipping parallel zones of mineralization, ranging from a few meters wide to over 25 meters in width, separated by amphibolitic intrusions. The KMZ and KHZ are currently interpreted to form one main mineralized orebody, intersected by a series of basic, post-mineralization intrusives expressed as amphibolites in the drill core.
Results for the holes are highlighted in Table 1 and in Figure 1 (http://files.newswire.ca/407/Volta_Figure_1.doc) . 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 QA/QC elements that employed the inclusion of certified standards and blanks.
To date, most planned holes of Volta's on-going program have been drilled and the last remaining assays are being received. Volta is on track to finalize an updated National Instrument 43-101 ("NI43-101") compliant resource before the end of June 2011.
Table 1: Highlights of gold intersections for Sections 5700N, 5750N, 5800N, 5850N, 5900N, 5950N, 6000N, 6050N, 6100N and 6200N
SECTION HOLE ID FROM TO INTERVAL Au COMMENT
(m) (m) (m) (g/t)
5700N KDH263 111.00 121.00 10.00 0.57
AND 210.00 238.00 28.00 0.54 Core loss : 226.0-227.0m
INCL 227.00 232.00 5.00 0.87
AND 244.00 263.00 19.00 6.40 261.0-262.0=113.18g/t Au
AND 276.00 459.00 183.00 1.03
INCL 320.00 337.00 17.00 1.56
INCL 354.00 382.00 28.00 1.40
INCL 387.00 442.00 55.00 1.39
KDH264 54.00 76.85 22.85 0.78
INCL 67 72 5.00 1.75
55.65-56.7m = 13.5 g/t;
KDH276 44.00 60.00 16.00 2.45 56.7-57.8m = 18.3g/t
INCL 55.65 60 4.35 8.24
AND 103 106 3.00 2.60
AND 164 176 12.00 0.62
AND 218 241 23.00 0.74 Core loss : 225.0-225.7m
INCL 225.7 228.5 2.8 3.30
AND 247 268 21.00 0.85 Core loss : 254.5-255.77m
INCL 252 268 16.00 0.99
AND 276 402 126.00 1.57 319.9-321.1m = 15.19g/t Au
INCL 316 329 13.00 3.26
INCL 335 380 45.00 1.83
INCL 383 401.1 18.10 1.56
AND 417.4 465.45 48.05 0.74
INCL 418.5 428 9.50 1.14
INCL 431 439 8.00 0.97
INCL 451 455 4.00 1.16
AND 471 520 49.00 1.09
INCL 471 477 6.00 1.79
INCL 487 504 17.00 2.07
AND 547 583.1 36.10 0.47 ENDED IN MINERALIZATION
INCL 578 581 3.00 2.44
5750N KDH268 102.00 113.00 11.00 0.66
INCL 105.00 108.00 3.00 1.76
AND 166.00 412.18 246.18 0.87 ENDED IN MINERALIZATION
INCL 177.75 190.00 12.25 1.40
INCL 194.00 203.00 9.00 1.09
INCL 207.00 211.00 4.00 1.94
INCL 224.00 233.00 9.00 1.82
INCL 238.00 273.00 35.00 1.36
INCL 342.00 348.00 6.00 1.85
INCL 355.00 360.00 5.00 1.92
INCL 381.00 407.00 26.00 1.25
KRD269 8.00 17.00 9.00 2.02
INCL 13.00 16.00 3.00 5.08
KDH271 141.00 337.00 196.00 0.92
INCL 178.00 201.00 23.00 1.30
INCL 204.00 211.20 7.20 1.28
INCL 222.00 252.00 30.00 1.58
INCL 272.00 276.00 4.00 3.48
KRD272 56.80 70.15 13.35 0.64
5800N KRD273 4.00 15.00 11.00 1.03
INCL 4.00 13.00 9.00 1.15
AND 21.00 24.00 3.00 5.05 23.0-24.0 = 14.3g/t Au
KRD274 78.00 236.60 158.60 0.65
INCL 125.00 132.00 7.00 0.67
INCL 160.00 166.00 6.00 1.21
INCL 175.70 180.00 4.30 0.92
INCL 191.00 194.00 3.00 4.96 192.0-193.0m = 13.08g/t Au
INCL 201.00 214.00 13.00 1.15
INCL 217.00 230.00 13.00 1.21
AND 243.00 309.00 66.00 0.94
INCL 256.00 264.00 8.00 1.58
INCL 281.00 286.00 5.00 3.19 285.0-286.0m = 11.77g/t Au
5850N KKRC50 50.00 55.00 5.00 1.89
KKRC52 17.00 31.00 14.00 0.65
INCL 23.00 26.00 3.00 1.10
KKRC54 76.00 88.00 12.00 0.56
KKRC55 32.00 98.00 66.00 0.53
INCL 80.00 84.00 4.00 1.07
KKRC56 2.00 34.00 32.00 0.66
INCL 7.00 12.00 5.00 2.09
KKRC58 0.00 10.00 10.00 0.91
INCL 0.00 3.00 3.00 2.38 15.0-16.0m = 14.4g/t Au
KKRC59 82.00 100.00 18.00 0.50 ENDED IN MINERALIZATION
INCL 84.00 88.00 4.00 1.04
KKRC60 3.00 16.00 13.00 1.71
KKRC61 25.00 35.00 10.00 1.23
INCL 25.00 28.00 3.00 2.75
5900N KKRC63 25.00 46.00 21.00 1.27
INCL 30.00 36.00 6.00 3.15 34.0-35.0m = 13.2g/t AU
KKRC65 61.00 66.00 5.00 3.18 65.0-66.0m = 13.9g/t Au
KKRC67 30.00 43.00 13.00 0.50 ENDED IN MINERALIZATION
KKRC68 9.00 45.00 36.00 0.60
INCL 20.00 23.00 3.00 1.83
INCL 29.00 34.00 5.00 1.26
AND 87.00 92.00 5.00 1.42
KKRC69 12.00 16.00 4.00 1.21
5950N KKRC96 66 84 18 1.34
INCL 66 79 13 1.65
KKRC97 12 67 55 0.70 42.0-43.0m = 15.75g/t Au
KKRC101 5 53 48 0.57
KKRC103 48 51 3 1.36
KKRC105 43 46 3 1.10
6000N KKRC109 7 60 53 0.59
INCL 19 23 4 2.37
6050N KKRC118 2 21 19 0.70
INCL 9 12 3 1.09
AND 28 53 25 1.24
INCL 40 44 4 1.08
INCL 47 52 5 3.58 47.0 - 48.0 = 12.40 g/t Au
AND 82 100 18 0.92 ENDED IN MINERALIZATION
INCL 85 91 6 1.32
INCL 94 99 5 1.09
KKRC121 3 78 75 0.58 ENDED IN MINERALIZATION
INCL 38 41 3 1.10
INCL 50 53 3 1.17
KKRC122 3 26 23 0.52
KKRC124 70 73 3 1.02
6200N KKRC85 11 17 6 1.17
KKRC88 48 70 22 0.69
KKRC89 16 38 22 1.29
INCL 17 29 12 2.05
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, except for hole KDH268 (166.0-412.18m intercept) and KRD274 (78.0-236.6m intercept) where it has been increased to 6m.
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) Where core losses were reported in the mineralized intercepts, the width entire mineralized intercept is reported at the weighted average grade of the remaining samples.
6) 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.
7) The intersections represent sections drilled by reverse circulation (RC) and/or cored drilling (see Table 2).
8) The RC portions of the drill holes were sampled at 1m 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 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 ALS Chemex 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 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 boreholes on Sections 5700N, 5750N, 5800N, 5850N, 5900N, 5950N, 6000N, 6050N, 6100N and 6200N
SECTION Hole ID Easting Northing Elevation Depth Dip Azimuth RC DD
(m) (m) (degrees)(degrees)(m) (m)
5700N KDH263 739458 1289802 272 463.08 -60 135 0.00 463.08
KDH264 739423 1289837 273 99.05 -55 135 0.00 99.05
KDH266 739385 1289870 274 100.13 -55 135 0.00 100.13
KDH276 739742 1289520 266 583.10 -60 315 0.00 583.10
5750N KRD267 739423 1289909 273 102.15 -55 135 47.00 55.15
KDH268 739741 1289591 268 412.18 -60 315 0.00 412.18
KRD269 739459 1289873 274 105.00 -55 135 42.00 63.00
KRD270 739529 1289803 273 100.05 -55 135 48.00 52.05
KDH271 739565 1289767 272 370.14 -60 135 0.00 370.14
KRD272 739600 1289732 270 100.05 -55 135 42.00 58.05
5800N KRD273 739565 1289838 274 102.00 -55 135 36.00 66.00
KRD274 739601 1289803 273 350.90 -58 135 30.50 320.40
5850N KKRC48 739489 1289973 272 76.00 -55 135 76.00 0.00
KKRC49 739520 1289944 273 55.00 -55 135 55.00 0.00
KKRC50 739542 1289924 273 61.00 -55 135 61.00 0.00
KKRC51 739566 1289901 273 65.00 -55 135 65.00 0.00
KKRC52 739592 1289876 273 73.00 -55 135 73.00 0.00
KKRC53 739621 1289848 273 61.00 -55 135 61.00 0.00
KKRC54 739645 1289826 273 100.00 -55 135 100.00 0.00
KKRC55 739685 1289787 271 100.00 -55 135 100.00 0.00
KKRC56 739721 1289752 271 100.00 -55 135 100.00 0.00
KKRC57 739758 1289717 270 100.00 -55 135 100.00 0.00
KKRC58 739794 1289682 270 61.00 -55 315 61.00 0.00
KKRC59 739796 1289680 269 100.00 -55 135 100.00 0.00
KKRC60 739830 1289647 268 58.00 -55 135 58.00 0.00
KKRC61 739851 1289627 268 100.00 -55 315 100.00 0.00
KKRC62 739852 1289699 269 35.00 -55 135 35.00 0.00
KKRC63 739866 1289686 269 64.00 -55 135 64.00 0.00
KKRC64 739524 1290009 271 70.00 -55 135 70.00 0.00
5900N KKRC65 739552 1289983 272 82.00 -55 135 82.00 0.00
KKRC66 739586 1289951 272 61.00 -55 135 61.00 0.00
KKRC67 739610 1289928 272 43.00 -55 135 43.00 0.00
KKRC68 739627 1289913 273 100.00 -55 135 100.00 0.00
KKRC69 739670 1289872 273 81.00 -55 135 81.00 0.00
KKRC70 739816 1289734 271 100.00 -55 135 100.00 0.00
5950N KKRC71 739561 1290046 271 79.00 -55 135 79.00 0.00
KKRC95 739590 1290018 271 98.00 -55 135 98.00 0.00
KKRC96 739628 1289983 271 85.00 -55 135 85.00 0.00
KKRC97 739657 1289956 272 83.00 -55 135 83.00 0.00
KKRC98 739690 1289925 272 91.00 -55 135 91.00 0.00
KKRC99 739723 1289894 272 94.00 -55 135 94.00 0.00
KKRC100 739756 1289863 272 82.00 -55 135 82.00 0.00
KKRC101 739790 1289834 271 100.00 -55 135 100.00 0.00
KKRC102 739825 1289798 270 71.00 -55 135 71.00 0.00
KKRC103 739850 1289774 270 79.00 -55 135 79.00 0.00
KKRC104 739879 1289747 270 55.00 -55 135 55.00 0.00
KKRC105 739897 1289730 269 80.00 -55 135 80.00 0.00
6000N KKRC106 739605 1290089 270 79.00 -55 135 79.00 0.00
KKRC107 739632 1290061 270 100.00 -55 135 100.00 0.00
KKRC108 739666 1290025 271 100.00 -55 135 100.00 0.00
KKRC109 739727 1289962 271 92.00 -55 135 92.00 0.00
KKRC110 739758 1289930 272 85.00 -55 135 85.00 0.00
KKRC111 739785 1289900 272 43.00 -55 135 43.00 0.00
KKRC112 739844 1289840 270 55.00 -55 135 55.00 0.00
KKRC113 739869 1289814 270 63.00 -55 135 63.00 0.00
KKRC114 739890 1289792 270 97.00 -55 135 97.00 0.00
KKRC115 739924 1289757 269 70.00 -55 135 70.00 0.00
6050N KKRC116 739629 1290112 270 79.00 -55 135 79.00 0.00
KKRC117 739659 1290085 270 100.00 -55 135 100.00 0.00
KKRC118 739740 1290012 270 100.00 -55 135 100.00 0.00
KKRC119 739777 1289978 271 100.00 -55 135 100.00 0.00
KKRC120 739814 1289945 271 100.00 -55 135 100.00 0.00
KKRC121 739851 1289911 271 78.00 -55 135 78.00 0.00
KKRC122 739880 1289885 270 85.00 -55 135 85.00 0.00
KKRC123 739912 1289856 269 46.00 -55 135 46.00 0.00
KKRC124 739963 1289811 269 79.00 -55 135 79.00 0.00
6200N KKRC72 739743 1290217 268 35.00 -55 135 35.00 0.00
KKRC73 739753 1290206 268 77.00 -55 135 77.00 0.00
KKRC84 739777 1290183 268 100.00 -55 135 100.00 0.00
KKRC85 739813 1290148 268 76.00 -55 135 76.00 0.00
KKRC86 739838 1290123 268 100.00 -55 135 100.00 0.00
KKRC87 739874 1290088 268 82.00 -55 135 82.00 0.00
KKRC88 739902 1290060 268 73.00 -55 135 73.00 0.00
KKRC89 739927 1290036 268 85.00 -55 135 85.00 0.00
KKRC90 739958 1290006 268 100.00 -55 135 100.00 0.00
KKRC91 739994 1289971 268 100.00 -55 135 100.00 0.00
KKRC92 740029 1289935 267 64.00 -55 135 64.00 0.00
KKRC93 740051 1289914 267 64.00 -55 135 64.00 0.00
KKRC94 740072 1289893 266 61.00 -55 135 61.00 0.00
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. 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:
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
(VTR.)
SOURCE Volta Resources Inc.