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Volta Resources Confirms High-Grade Gold Mineralization at its Kiaka South Target, Kiaka Gold Project


News provided by

Volta Resources Inc.

12 Jun, 2012, 14:15 GMT

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TORONTO, June 12, 2012 /PRNewswire/ --

- 10.0m @ 13.01g/t Gold, 9.8m @ 4.48g/t Gold, 20.0m @ 3.26g/t Gold -

TSX:VTR

Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces the next round of results from its on-going drilling program at the Kiaka South Area, on its Kiaka Gold property. These comprise the results from 12 core holes and 22 reverse circulation ("RC") holes, totaling 4,402.98m of drilling,  which confirm the presence of high-grade gold mineralization at depth and along strike.

The high-grade mineralization at the Kiaka South Area is situated approximately 700m southwest of the Company's Kiaka Central Area where a positive pre-feasibility study has already defined proven and probable mineral reserves of 126.08 million tonnes at a diluted grade of 0.96 g/t Au for 3.89 million ounces of gold within a single open pit (see News Release of 3 May 2012). The Kiaka South Area mineralization was initially identified by RC drilling carried out during the Phase 3 program at the Company's Kiaka Gold Project, in late 2011 (see News Release of 14 February 2012) .

The Kiaka South Area mineralization occurs from surface and is characterized by high-grade intercepts with single meter intervals regularly exceeding 10g/t gold. Most drill holes intersecting the orebody have returned high grade values over narrow to moderate widths confirming the continuity of the high-grade mineralization. Ongoing drilling is being targeted to delineate, and better define, a series of interpreted parallel "en echelon" northeast striking lenses contained within a broader northerly trending anomalous envelope.  A moderate northerly plunge to the individual lenses is currently being inferred.  To date the mineralization has been drilled over a strike length of more than 350m, between sections 3750N and 4100N, and to a vertical depth exceeding 150m. Highlights from the current reported holes include:

  • KDH360 :   9.8m @ 4.48g/t Au AND 3.0m @ 5.15g/t Au
  • KDH362 :   2.6m @ 8.10g/t Au
  • KDH363 : 20.0m @ 3.26g/t Au
  • KDH364 :   3.0m @ 2.95g/t Au
  • KDH367 :   6.8m @ 5.21g/t Au
  • KDH369 :   4.0m @ 16.38g/t Au
  • KDH372 :   6.2m @ 4.33g/t Au
  • KDH373 : 16.0m @ 2.36g/t Au
  • KKRC485 : 10.0m @ 13.01g/t Au

Kevin Bullock, Volta Resources CEO, said, "These results bolster our expectations of additional high grade results at Kiaka South demonstrating potential for grade and resource augmentation for the Kiaka Project as a whole.  We are particularly pleased that these results start at surface and now have an expanded strike zone."

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

                                    Au
    HOLE ID  FROM    TO   INTERVAL  g/t                COMMENT
    KDH360   33.00  37.80     4.80  1.16
        AND 126.90 136.70     9.80  4.48 130.9-131.5m = 64.3g/t
        AND 147.00 150.00     3.00  5.15 147.0-148.0m = 14.65g/t
        AND 184.00 187.00     3.00  3.30
    KDH361   63.00  65.00     2.00  8.10 63.7-64.3m = 18.65g/t
    KDH362   98.00 100.60     2.60  8.44
        AND 142.00 149.00     7.00  0.77 98.0-98.95m = 22.1g/t
    KDH363   30.00  50.00    20.00  3.26 MID = 4m
      incl.  30.00  33.00     3.00 10.13 32.0-33.0m = 23.2g/t
      incl.  37.00  50.00    13.00  2.64 41.0-42.0m = 19.95g/t
        AND 118.00 120.00     2.00  3.47
    KDH364   45.80  48.80     3.00  2.95
        AND  66.50  77.80    11.30  1.59
      incl.  71.00  77.80     6.80  2.35
        AND 156.00 158.00     2.00 15.43 156.0-157.0m = 29.8g/t
    KDH365  116.00 123.00     7.00  0.56
        AND 128.80 132.00     3.20  2.32
        AND 141.00 148.00     7.00  1.20
    KDH367  102.30 109.00     6.80  5.21 108.0-109.0m = 22.1g/t
    KDH369   81.00  85.00     4.00 16.38 81.0-82.0m = 60.8g/t
    KDH372   61.00  64.00     3.00 42.50 61.0-62.0m = 119g/t
        AND  95.00  97.70     2.70  1.09
        AND 108.00 112.00     4.00  1.63
        AND 221.00 227.20     6.20  4.33 221.0-222.0m = 21.0g/t
    KDH373   94.00 110.00    16.00  2.36 96.1-97.0m = 29.0g/t
        AND 128.00 136.50     8.50  1.52
    KDH377  105.00 118.00    13.00  0.89
        AND 127.70 136.00     8.30  0.82
        AND 220.00 223.00     3.00  1.33
    KKRC485  26.00  28.00     2.00  4.48
                                         42.0-43.0m = 97.0g/t AND 43.0-44.0m
        AND  41.00  51.00    10.00 13.01 = 27.0g/t
    KKRC486  54.00  56.00     2.00  3.26
    KKRC487  34.00  40.00     6.00  1.45
        AND  48.00  58.00    10.00  0.55
        AND  86.00  89.00     3.00  2.28
        AND  99.00 100.00     1.00  5.23 ended in mineralization
    KKRC489   0.00   3.00     3.00  0.96
    KKRC493   1.00   3.00     2.00  1.69

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 3m, except for KDH363, 30.0-50.0m,  where it has been increased to 4m.
  3. No top cut has been applied.
  4. The intersections listed in the table represent sections of at least 2m in excess of 3g/t Au, 3m in excess of 1g/t Au and/or sections of at least 7m in excess of 0.5g/t Au.
  5. The intersections represent sections drilled by Cored and/or Rerverse Circulation drilling (see Table 2).
  6. 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.
  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 (either ALS Chemex or  the Bureau des Mines et de la Géologie du Burkina (BUMIGEB) under Company's supervision) for standard preparation (dry, crush, split, pulverize).
  8. All samples were analysed by ALS Chemex in Ouagadougou by 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.

Five core rigs and one RC rig are currently drilling at Kiaka South to further delineate the orebody.

TABLE 2 : Collar coordinates and orientation parameters

                                     Elevation Depth   Dip  Azimuth   RC     DD
    SECTION Hole ID Easting Northing    (m)     (m)   (deg)  (deg)   (m)    (m)
     4000N  KDH360   738288  1288564       273 230.45   -57     135   0.00 230.45
            KDH361  738323   1288529       274 142.04   -55     135   0.00 142.04
     3950N  KDH362   738269  1288512       274 256.05   -57     135   0.00 256.05
            KDH363  738305   1288476       274 154.03   -55     135   0.00 154.03
     3900N  KDH364   738270  1288441       275 166.04   -55     135   0.00 166.04
            KDH365  738236   1288474       274 251.00   -57     135   0.00 251.00
            KDH377  738377   1288333       276 250.00   -57     315   0.00 250.00
     3850N  KDH367   738201  1288439       274 200.30   -57     135   0.00 200.30
            KDH373  738289   1288351       276 150.95   -55     315   0.00 150.95
     3750N  KDH369   738280  1288219       277 151.10   -55     135   0.00 151.10
            KDH372  738185   1288313       275 350.02   -58     135   0.00 350.02
            KDH375  738377   1288121       277 302.00   -55     315   0.00 302.00
     4175N  KKRC358  738325  1288775       272  50.00   -55     135  50.00   0.00
            KKRC359 738342   1288757       273  50.00   -55     135  50.00   0.00
            KKRC360 738360   1288739       273  50.00   -55     135  50.00   0.00
            KKRC361 738378   1288722       273  49.00   -55     135  49.00   0.00
     4225N  KKRC362  738360  1288810       272  49.00   -55     135  49.00   0.00
            KKRC363 738378   1288792       272  49.00   -55     135  49.00   0.00
            KKRC364 738395   1288775       273  47.00   -55     135  47.00   0.00
            KKRC365 738413   1288757       273  49.00   -55     135  49.00   0.00
     4125N  KKRC357  738360  1288669       274  50.00   -55     135  50.00   0.00
     4050N  KKRC484  738340  1288583       274  96.00   -55     135  96.00   0.00
            KKRC485 738325   1288598       274  90.00   -55     135  90.00   0.00
            KKRC486 738289   1288633       273 125.00   -55     135 125.00   0.00
     3975N  KKRC487  738325  1288491       274 100.00   -55     135 100.00   0.00
     3875N  KKRC488  738235  1288439       274 120.00   -55     135 120.00   0.00
     3825N  KKRC489  738225  1288379       274 125.00   -55     135 125.00   0.00
            KKRC490 738197   1288408       275 100.00   -55     135 100.00   0.00
            KKRC491 738169   1288436       274 100.00   -55     135 100.00   0.00
            KKRC492 738140   1288464       274 100.00   -55     135 100.00   0.00
     3800N  KKRC493  738207  1288362       275 100.00   -55     135 100.00   0.00
            KKRC494 738179   1288390       275 100.00   -55     135 100.00   0.00
            KKRC495 738150   1288419       275 100.00   -55     135 100.00   0.00
            KKRC496 738123   1288446       274 100.00   -55     135 100.00   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 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] including 34.38 million tonnes @ 1.04 g/t Au for 1,145,969 ounces of gold in the Proven category and 91.70 million tonnes @ 0.93 g/t Au for 2,742,353 ounces of gold in the Probable category [Please see VTR press release dated May 3, 2012]) 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.

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.

PDF available at: http://40rhel5streamview01.newswire.ca/media/2012/06/12/20120612-603849-15048-60630df1-1b8a-4648-bc23-19e609a5951f.pdf

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

or

Andreas Curkovic, Investor Relations
Tel: +1-(416)-577-9927

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