Volta Continues to Report Wide Intersections From the Central Area at its Kiaka Gold Project in Burkina Faso
TORONTO, February 21, 2012 /PRNewswire/ --
TSX: VTR
- Intersects 59.0m @ 1.36g/t Gold, Including 28.0m @ 1.97g/t Gold -
- Also 163.0m @ 0.94g/t Gold, Including 16.0m @ 2.39g/t Gold -
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces the results from an additional seventeen 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 seventeen reported holes were drilled in the northern and central parts of the Kiaka Main Zone (KMZ) orebody. They aimed at extending the resources in the Central Zone, both at depth and to the North, at testing the Hanging Wall and Footwall Zones and at allowing for a better defintion of the orebody.
The 17 holes, comprising a total of 5,248m, confirm the continuity of wide mineralization, typical of the KMZ deposit, at depth and to the North and also show the continuity of the Hanging Wall Zone (KHZ) at depth. Holes KDH317 and KDH320 intersected mineralization down to a vertical depth exceeding 500m. The holes on sections 5800N to 6050N confirm the continuity of mineralization to the North. The mineralization was, however, interesected above the "southeasterly striking fault" (see News Release of 16 January 2012) which off-sets the wide mineralization, typical of the Kiaka Main Zone (KMZ), from the hanging wall style (" KHZ"). The southeasterly striking fault dips moderately to the northwest and the holes reported in this news release intersected multiple parallel hanging wall style mineralized zones ranging in width from several metres to about 30 metres.
The highlights from the reported drill holes include :
- KDH323 : 69.00m @ 0.95g/t Au, including 14.05m @ 1.85g/t Au
- KDH321 : 59.00m @ 1.36g/t Au, including 28.00m @ 1.97g/t Au
- KDH317 : 163.00m @ 0.94g/t Au, including 16.00m @ 2.39g/t Au AND
- KDH316 : 21.75m @ 1.99g/t Au, including 12.70m @ 3.04g/t Au AND
- KDH316 : 57.40m @ 1.10g/t Au, including 21.75m @ 1.59g/t Au AND
- KDH316 : 120.70m @ 0.97g/t Au, including 28.00m @ 1.30g/t Au
- KDH311 : 12.00m @ 2.28g/t Au, including 4.00m @ 4.26g/t Au
- KDH314 : 11.10m @ 1.52g/t Au, including 4.80m @ 2.82g/t Au
Kevin Bullock, Volta Resources' CEO, said, "Since the Central Area in the KMZ is the heart of the Kiaka deposit we are very happy to keep recording results that will continue to improve the project's dynamics. These results, along with other recent results, are being used in the upcoming resource update and Pre-Feasibility Study."
Results for the holes are highlighted in Table 1 and in locations shown in Figure 1. Analyses of the Volta Resources samples were undertaken by fire assay on a 50g charge at ALS Chemex Laboratories in Ouagadougou. Volta Resources' 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
SECTION BHID FROM TO INTERVAL Au COMMENTS
(m) (m) (m) (g/t)
5575N KDH323 153.00 156.00 3.00 1.19
AND 161.30 187.20 25.90 0.72
INCL 173.00 180.00 7.00 1.56
AND 258.00 279.10 21.10 0.88
INCL 265.00 271.00 6.00 1.70
AND 361.00 449.90 88.90 0.62
INCL 413.00 417.00 4.00 1.62
INCL 435.00 442.00 7.00 2.00
INCL 446.40 449.90 3.50 2.62
AND 455.00 524.00 69.00 0.95
INCL 461.00 475.30 14.30 1.32
INCL 505.30 519.35 14.05 1.85
AND 530.00 603.00 73.00 0.56
INCL 536.00 540.70 4.70 2.24
INCL 547.70 552.00 4.30 1.02
INCL 581.00 584.00 3.00 1.42
5625N KDH321 122.00 161.00 39.00 0.93 138.0-139.0m = 17.1g/t Au
182.0-183.0m = 30.2g/t Au;
AND 181.00 188.00 7.00 14.60 183.0-184.0m = 69.7g/t Au
AND 226.00 235.90 9.90 1.27
INCL. 226.00 229.00 3.00 3.19
AND 289.00 348.00 59.00 1.36
INCL. 304.00 307.00 3.00 1.90
INCL. 310.00 338.00 28.00 1.97
AND 409.00 429.50 20.50 0.74
AND 444.00 483.00 39.00 0.59
INCL. 461.00 464.00 3.00 1.13
5650N KDH318 175.70 179.00 3.30 1.25
AND 187.00 199.75 12.75 0.84
INCL 187.00 191.00 4.00 1.10
INCL 194.00 198.00 4.00 1.25
AND 319.00 347.00 28.00 0.74
INCL 330.00 335.80 5.80 1.98
5675N KDH317 93.00 121.00 28.00 0.56
AND 214.00 227.00 13.00 1.14
INCL 219.00 227.00 8.00 1.71
AND 241.00 267.00 26.00 0.56
INCL 252.75 256.00 3.25 1.41
INCL 261.00 266.00 5.00 1.00
AND 352.00 455.00 103.00 0.63
INCL 358.00 365.00 7.00 1.10
INCL 414.00 424.00 10.00 1.18
AND 465.00 628.00 163.00 0.94 481.0 - 482.0 = 25.50g/t
INCL 473.00 489.00 16.00 2.39
INCL 494.00 510.00 16.00 1.34
INCL 521.00 529.00 8.00 1.73
INCL 532.00 539.00 7.00 1.97
INCL 542.00 562.00 20.00 1.31
INCL 568.00 576.00 8.00 1.17
AND 662.00 678.00 16.00 0.55
5700N KDH316 122.25 144.00 21.75 1.99 127.00 - 128.00 = 26.10g/t
INCL 125.30 138.00 12.70 3.04
AND 338.60 399.00 60.40 0.63
INCL 352.00 362.00 10.00 1.11
AND 405.60 463.00 57.40 1.10
INCL 410.00 414.00 4.00 1.02
INCL 419.00 424.00 5.00 1.29
INCL 431.00 452.75 21.75 1.59
INCL 459.00 463.00 4.00 2.21
AND 472.00 592.70 120.70 0.97
INCL 473.00 481.00 8.00 1.39
INCL 485.10 495.30 10.20 1.28
INCL 503.00 531.00 28.00 1.30
INCL 538.00 543.47 5.47 1.27
INCL 549.00 557.00 8.00 1.05
INCL 560.00 578.00 18.00 1.07
5800N KDH305 157.00 161.00 4.00 1.22
AND 173.00 181.00 8.00 1.83 180.00 - 181.00 = 12.75g/t
5950N KDH309 217.90 225.00 7.10 1.61
INCL 217.90 221.00 3.10 3.39
AND 232.00 235.40 3.40 1.05
AND 269.70 280.10 10.40 0.50
AND 316.00 319.00 3.00 1.33
AND 363.90 371.00 7.10 0.96
KDH310 54.00 57.00 3.00 27.30 54.0 - 55.0 = 78.80g/t
AND 90.00 93.00 3.00 1.37
KDH313 209.70 220.00 10.30 1.00
KDH315 54.00 60.10 6.10 3.12
AND 115.00 125.00 10.00 0.85
6000N KDH298 109.00 131.40 22.40 0.66
INCL 119.00 123.00 4.00 2.21
AND 174.00 177.00 3.00 1.26
AND 231.00 250.70 19.70 0.75
AND 280.00 301.11 21.11 0.56 ENDED IN MINERALIZATION
KDH311 253.00 265.00 12.00 2.28 256.00 - 257.00 = 11.70g/t
INCL 257.00 261.00 4.00 4.26
AND 274.50 278.45 3.95 1.61
AND 291.00 319.00 28.00 0.62
INCL 292.00 296.00 4.00 1.80
AND 406.00 445.75 39.75 0.78
INCL 436.85 445.75 8.90 1.45
AND 457.30 460.70 3.40 1.26
KDH314 106.00 117.10 11.10 1.52
INCL 112.30 117.10 4.80 2.82
6050N KDH312 371.20 383.00 11.80 0.78
INCL 379.10 383.00 3.90 1.38
AND 433.90 446.35 12.45 0.61
AND 454.40 487.00 32.60 0.76
INCL 466.40 469.15 2.75 1.14
KDH319 98.00 120.00 22.00 0.56
INCL 102.00 105.00 3.00 1.82
Notes on Table 1:
- Intervals are core length. True width is unknown at this time.
- 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 KDH323 (455.0-524.0m) where it has been increased to 5.25m.
- 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, except for holes KDH318 (330.0-335.8m) and KDH316 (125.3-138.0m) where it has been increased to 3m
- No top cut has been applied.
- 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.
- The intersections represent sections drilled by cored drilling (see Table 2).
- 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.
- Samples were sent to ALS Chemex in Ouagadougou for standard preparation followed by Fire Assay on a 50g charge.
- 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)
5575N KDH323 739295.56 1289783.69 275.21 697.85 -60 135
5625N KDH321 739397.19 1289752.77 271.70 487.10 -60 135
5650N KDH318 739318 1289873 274.1 376.00 -60 135
5675N KDH317 739368 1289853 273.8 701.20 -60 135
5700N KDH316 739384 1289869 273.8 601.35 -60 135
5800N KDH296 739742 1289661 269.3 100.00 -55 135
KDH297 739777 1289626 268.4 99.32 -55 135
KDH305 739776 1289628 268.4 201.00 -60 315
5950N KDH309 739852 1289771 270.2 442.20 -60 315
KDH310 739616 1289995 270.4 172.00 -55 135
KDH313 739634 1289978 271.3 442.10 -60 135
KDH315 739725 1289892 272.3 223.25 -58 135
6000N KDH298 739660 1290032 270.7 301.11 -60 135
KDH311 739917 1289765 269.3 522.35 -60 315
KDH314 739761 1289926 271.4 250.40 -58 135
6050N KDH312 739627 1290115 269.9 550.58 -60 135
KDH319 739796 1289961 270.5 265.17 -58 135
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.
Figure 1: Location and highlights of reported drillholes.
PDF with caption: "Figure 1: Location and highlights of reported drillholes.". PDF available at: http://40rhel5streamview01.newswire.ca/media/2012/02/21/20120221-573604-10259-5bce0935-ea6f-4173-ba50-25ae1bb663fb.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
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