TORONTO, May 24, 2011 /PRNewswire/ --
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the drill results from the next completed section 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 have been received to date for 5 holes located on Section 5600N, respectively some 25m of previous released section 5575N (see News Release of April 20th 2011). Section 5600N had been tested during the previous drilling campaign by 7 holes (see News Release of April 21st 2010), which previously focused on the Main Zone (KMZ). The highlights from current drilling on this section include:
- KDH212: 131.95m @ 0.77 g/t Au, including 19.0m @ 1.62 g/t Au
- KDH214: 216.15m @ 0.99 g/t Au, including 12.0m @ 2.07 g/t Au AND 10.0m @ 1.62 g/t Au
- KRD215: 13.00m @ 1.07 g/t Au, including 5.0m @ 2.11 g/t Au AND 11.6m @ 3.32 g/t Au
- KRD218: 43.00m @ 0.74 g/t Au, including 11.0m @ 1.14 g/t Au
Kevin Bullock, Volta's CEO, said, "We continue to demonstrate notable mineralization at historically unprecedented depths. Working conditions at Kiaka have always been productive and positive and we are on track to release our new updated and expanded resource estimate by the end of June. We will then aggressively move Kiaka to economic studies."
Holes KDH212 and KDH214 of the current campaign have extended the deposit down to vertical depth exceeding 400m. Holes KRD215, KRD218 and KRD221 have intersected a series of parallel mineralized shears in the Hanging Wall Zone (KHZ).
Results for the holes are highlighted in Table 1 and in Figure 2. 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.
Table 1: Highlights of gold intersections for Sections 5600N.
BHID FROM (m) TO (m) INTERVAL (m) Au (g/t) COMMENTS/REMARKS KDH212 72.20 76.00 3.80 1.29 AND 194.00 220.00 26.00 0.64 AND 231.00 260.00 29.00 0.86 INCL. 232.00 240.80 8.80 1.31 INCL. 247.00 252.00 5.00 1.26 AND 271.00 362.00 91.00 0.87 INCL. 298.00 305.00 7.00 1.41 INCL. 328.00 360.00 32.00 1.20 AND 368.80 500.75 131.95 0.77 ENDED IN MINERALIZATION INCL. 388.00 396.20 8.20 1.24 INCL. 398.30 404.00 5.70 1.89 INCL. 433.00 452.00 19.00 1.62 INCL. 488.00 492.00 4.00 1.59 KDH214 28.00 48.00 20.00 0.80 INCL. 39.00 44.00 5.00 1.12 AND 131.00 135.00 4.00 1.16 AND 154.00 180.00 26.00 0.68 INCL. 166.00 172.00 6.00 1.59 AND 189.00 405.15 216.15 0.99 INCL. 208.00 223.00 15.00 1.22 INCL. 226.00 241.00 15.00 1.58 INCL. 246.00 258.00 12.00 2.07 INCL. 269.00 281.00 12.00 1.36 INCL. 285.00 300.00 15.00 1.17 INCL. 302.60 311.00 8.40 1.61 INCL. 336.00 343.00 7.00 0.91 INCL. 354.00 364.00 10.00 1.62 INCL. 367.00 385.00 18.00 1.39 INCL. 394.00 405.15 11.15 1.19 KRD215 13.00 26.00 13.00 1.07 INCL.. 15.00 20.00 5.00 2.11 AND 61.20 72.80 11.60 3.32 71.0-72.0m : 34.1g/t Au AND 91.00 102.05 11.05 0.82 ENDED IN MINERALIZATION INCL.. 99.00 102.05 3.05 1.64 KRD218 3.00 22.00 19.00 0.64 INCL. 6.00 12.00 6.00 1.05 AND 64.00 107.00 43.00 0.74 INCL. 77.00 88.00 11.00 1.41 AND 123.00 150.15 27.15 0.62 ENDED IN MINERALIZATION KRD221 166.90 185.00 18.10 0.51 INCL. 176.00 180.00 4.00 1.34
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 envelope, except for holes KDH212 (368.80-500.75m intercept) and KRD218 (123.00-150.15m 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) 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.
6) The intersections represent sections drilled by reverse circulation (RC) and/or cored drilling (see Table 2). 7) 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. 8) Samples were sent to ALS Chemex in Ouagadougou for standard preparation followed by Fire Assay on a 50g charge. 9) 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 Section 5600N
Hole ID Easting Northing Elevation Depth Dip Azimuth RC DD (m) (m) (degrees) (degrees) (m) (m) KDH212 739666 1289444 265 500.75 -60 315 0.00 500.75 KDH214 739424 1289694 271 451.20 -60 135 0.00 451.20 KRD215 739388 1289729 271 102.05 -55 135 55.85 46.20 KRD218 739353 1289762 272 150.15 -55 315 36.00 114.15 KRD221 739316 1289798 275 201.30 -55 135 48.00 153.30
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.
Click here for Figure 1: Location of Holes drilled on Section 5600N at Kiaka Central Area and Figure 2 : Section 5600N:
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: firstname.lastname@example.org or Andreas Curkovic, Investor Relations Tel: +1(416)577-9927
SOURCE Volta Resources Inc.