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Volta Confirms New Gold Mineralization at its Large Toulfe Anomaly in North-Western Burkina Faso


News provided by

Volta Resources Inc.

24 Jan, 2012, 14:54 GMT

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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") (TSX: VTR) 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 -55° 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 

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