Volta Resources Drills 121.15m @ 2.10 g/t Gold at its Kiaka Gold Project in Burkina Faso
TORONTO, October 13, 2011 /PRNewswire/ --
- Further Extends Kiaka Mineralization to the Southwest -
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces additional drill results from its on-going program (Phase 3) at its Kiaka Gold Project in Burkina Faso. Results for an additional 84 holes located in the southern part of the Kiaka Main Zone have been received and are included in this press release (see Figure 1). The Kiaka Central Area currently includes NI43-101 compliant resources of 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). The holes extend and confirm continuity of mineralization at deeper levels southward of Section 4500N, highlighting the potential for increasing the resources within the framework of the currently defined Whittle-constrained pit. The highlights from current drilling on these sections include:
- KDH291: 121.15m @ 2.10 g/t, including 5.95m @ 4.85g/t, 7.65m @ 2.34g/t, 25.00m @ 2.93g/t and 9.00m @ 2.93g/t AND
- KDH291: 19.40m @ 1.61g/t, including 16.00m @ 1.82/t AND
- KDH291: 9.00m @ 2.14g/t
- KDH294: 33.50m @ 3.02/t, including 16.80m @ 3.73g/t and 5.00m @ 5.34g/t
- KKRC154: 13.00m @ 0.82g/t
- KKRC161: 10.00m @ 2.46g/t
- KKRC162: 9.00m @ 0.88g/t AND 28.00m @ 0.53g/t
- KKRC185: 14.00m @ 1.00g/t
- KKRC189: 24.00m @ 1.11g/t, including 8.00m @ 1.92g/t
- KKRC193: 12.00m @ 1.13g/t
- KKRC196: 12.00m @ 1.50g/t
- KKRC207: 11.00m @ 0.98g/t
Kevin Bullock, Volta's CEO, said, "These results give us the opportunity to increase and upgrade resources within the currently defined, Whittle-constrained, pit as we work towards producing a NI 43-101 compliant Pre-Feasibility Study for Kiaka."
This drilling confirmed the continuity of the mineralization in the KMZ as far south as Section 4600N, which is at least 300m south of the Whittle constrained pit limit containing the current (June 2011) NI43-101 compliant resource.
Results for the holes are highlighted in Table 1. 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 the reported boreholes.
BHID FROM TO INTERVAL Au g/t COMMENTS
KDH285 90.00 102.00 12.00 0.53
AND 160.20 169.00 8.80 0.75
KDH291 116.00 126.20 10.20 1.17
AND 148.00 154.00 6.00 1.16
AND 164.00 174.00 10.00 0.78
including 164.00 168.00 4.00 1.08
including 171.05 174.00 2.95 1.04
AND 182.00 207.00 25.00 0.55
AND 213.85 335.00 121.15 2.10
including 217.05 223.00 5.95 4.85 218.0-219.0m = 13.35g/t
including 226.00 233.65 7.65 2.34
including 239.30 247.00 7.70 1.62 236.0-237.0m = 28.5g/t
including 249.00 288.00 39.00 1.58
294.0-295.0m = 10.45g/t; 304.0-
including 292.00 317.00 25.00 2.93 305.0m = 12.9g/t
including 326.00 335.00 9.00 2.14
AND 343.00 362.40 19.40 1.61
including 343.00 359.00 16.00 1.82
AND 369.00 373.00 4.00 6.71 371.0-372.0m = 18.25g/t
9.0 - 10.0 m = 26.50 g/t Au; 34.0
KDH294 2.50 36.00 33.50 3.02 - 35.0m = 22.50 g/t Au
including 6.20 23.00 16.80 3.73
including 30.00 35.00 5.00 5.34
KKRC154 0.00 13.00 13.00 0.82
KKRC161 16.00 26.00 10.00 2.46 22.0-23.0 = 21.6g/t
KKRC162 4.00 13.00 9.00 0.88
including 9.00 12.00 3.00 1.41
AND 31.00 59.00 28.00 0.53
KKRC163 1.00 19.00 18.00 0.66
including 12.00 19.00 7.00 0.87
KKRC171 55.00 60.00 5.00 2.31 Halted in Mineralization
KKRC173 2.00 32.00 30.00 0.64
including 6.00 15.00 9.00 0.95
KKRC175 18.00 28.00 10.00 0.74
including 23.00 27.00 4.00 1.08
AND 44.00 48.00 4.00 1.74
KKRC177 41.00 45.00 4.00 1.11
KKRC180 56.00 59.00 3.00 1.08
KKRC181 34.00 42.00 8.00 0.77
52.00 60.00 8.00 0.97 Halted in Mineralization
KKRC182 6 18 12 0.50
KKRC185 22.00 36.00 14.00 1.00
including 29.00 32.00 3.00 3.09
including 13.00 16.00 3.00 1.48
KKRC188 56.00 60.00 4.00 0.84 Halted in Mineralization
KKRC189 14.00 38.00 24.00 1.11
including 29.00 37.00 8.00 1.92
KKRC190 16.00 20.00 4.00 1.08
KKRC193 38.00 50.00 12.00 1.13
KKRC194 2.00 18.00 16.00 0.49
KKRC196 2.00 14.00 12.00 1.50 7.0-8.0m = 14.05g/t
KKRC203 36.00 39.00 3.00 1.06
KKRC205 26.00 29.00 3.00 1.17
KKRC207 53.00 64.00 11.00 0.98 Halted in Mineralization
KKRC208 2.00 8.00 6.00 1.05
Notes on Tables 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.
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 7m 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 1-m 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.
Volta also completed drilling 18 holes immediately (within 200m) to the northwest of the Kiaka Central Resource Area to test a parallel Induced Polarization (IP) anomaly that was co-incident with a weak gold-in-soil anomaly. Only one hole, KDH286, intersected significant mineralization, including 12.0m @ 0.61g/t.
TABLE 2: Collar coordinates and orientation parameters for the reported boreholes
Elevation Depth Dip Azimuth RC DD
HOLE ID Easting Northing (m) (m) (degrees) (degrees) (m) (m)
KDH284 739,232 1,290,026 272.09 100.00 -55 135 100.00
KDH285 739,159 1,289,026 265.70 301.06 -55 315 301.06
KDH286 739,187 1,290,071 273.35 121.00 -55 135 121.00
KDH287 739,011 1,289,962 277.72 165.88 -55 135 165.88
KDH288 738,885 1,289,820 273.41 121.11 -55 135 121.11
KDH289 738,953 1,289,247 269.41 301.10 -55 135 301.10
KDH290 738,929 1,289,775 274.26 127.12 -55 135 127.12
KDH291 739,173 1,289,446 269.00 385.20 -55 135 385.20
KDH292 739,019 1,289,680 274.90 220.02 -55 135 220.02
KDH293 738,784 1,289,481 272.03 252.70 -55 135 252.70
KDH294 739,172 1,289,302 268.78 250.00 -55 135 250.00
KDH295 738,696 1,289,568 272.90 97.20 -55 135 97.20
KKRC148 738,896 1,289,237 269.19 60.00 -55 135 60.00
KKRC149 738,930 1,289,201 268.89 60.00 -55 135 60.00
KKRC150 738,951 1,289,179 268.12 60.00 -55 135 60.00
KKRC151 738,913 1,289,219 269.21 60.00 -55 135 60.00
KKRC152 738,972 1,289,157 267.68 60.00 -55 135 60.00
KKRC153 738,992 1,289,135 267.09 40.00 -55 135 40.00
KKRC154 739,006 1,289,120 266.83 75.00 -55 135 75.00
KKRC155 739,083 1,289,039 266.27 60.00 -55 135 60.00
KKRC156 739,104 1,289,017 266.18 60.00 -55 135 60.00
KKRC157 738,924 1,289,128 266.99 60.00 -55 135 60.00
KKRC158 738,945 1,289,107 266.46 60.00 -55 135 60.00
KKRC159 738,966 1,289,085 266.12 60.00 -55 135 60.00
KKRC160 738,987 1,289,064 266.36 60.00 -55 135 60.00
KKRC161 739,009 1,289,043 266.41 60.00 -55 135 60.00
KKRC162 739,030 1,289,022 266.42 60.00 -55 135 60.00
KKRC163 739,051 1,289,001 266.40 60.00 -55 135 60.00
KKRC164 738,891 1,289,089 267.13 61.00 -55 135 61.00
KKRC165 738,912 1,289,068 266.82 60.00 -55 135 60.00
KKRC166 738,933 1,289,047 266.80 71.00 -55 135 71.00
KKRC167 738,855 1,289,062 266.90 58.00 -55 135 58.00
KKRC168 738,872 1,289,037 266.92 60.00 -55 135 60.00
KKRC169 738,893 1,289,015 267.20 60.00 -55 135 60.00
KKRC170 738,914 1,288,994 267.59 60.00 -55 135 60.00
KKRC171 738,935 1,288,972 267.71 60.00 -55 135 60.00
KKRC172 738,956 1,288,951 267.80 60.00 -55 135 60.00
KKRC173 738,977 1,288,929 267.94 60.00 -55 135 60.00
KKRC174 738,998 1,288,908 268.07 64.00 -55 135 64.00
KKRC175 738,852 1,288,989 267.88 60.00 -55 135 60.00
KKRC176 738,873 1,288,968 268.33 60.00 -55 135 60.00
KKRC177 738,922 1,288,917 268.56 60.00 -55 135 60.00
KKRC178 738,943 1,288,896 268.77 60.00 -55 135 60.00
KKRC179 738,964 1,288,874 268.78 80.00 -55 135 80.00
KKRC180 738,780 1,288,989 267.93 60.00 -55 135 60.00
KKRC181 738,800 1,288,967 268.47 60.00 -55 135 60.00
KKRC182 738,821 1,288,946 268.96 60.00 -55 135 60.00
KKRC183 738,842 1,288,924 269.51 60.00 -55 135 60.00
KKRC184 738,863 1,288,903 269.60 60.00 -55 135 60.00
KKRC185 738,884 1,288,881 269.37 60.00 -55 135 60.00
KKRC186 738,905 1,288,860 269.45 60.00 -55 135 60.00
KKRC187 738,926 1,288,838 269.33 67.00 -55 135 67.00
KKRC188 738,745 1,288,955 268.76 60.00 -55 135 60.00
KKRC189 738,765 1,288,933 268.99 60.00 -55 135 60.00
KKRC190 738,786 1,288,911 269.78 60.00 -55 135 60.00
KKRC191 738,807 1,288,889 270.05 60.00 -55 135 60.00
KKRC192 738,827 1,288,868 270.06 60.00 -55 135 60.00
KKRC193 738,848 1,288,846 270.21 58.00 -55 135 58.00
KKRC194 738,868 1,288,824 270.14 60.00 -55 135 60.00
KKRC195 738,889 1,288,802 270.05 70.00 -55 135 70.00
KKRC196 738,749 1,288,878 270.07 58.00 -55 135 58.00
KKRC197 738,768 1,288,855 270.50 60.00 -55 135 60.00
KKRC198 738,787 1,288,832 270.80 60.00 -55 135 60.00
KKRC199 738,806 1,288,809 270.84 60.00 -55 135 60.00
KKRC200 738,825 1,288,786 270.95 60.00 -55 135 60.00
KKRC201 738,844 1,288,762 271.56 60.00 -55 135 60.00
KKRC202 738,602 1,288,957 269.40 60.00 -55 135 60.00
KKRC203 738,623 1,288,935 269.90 60.00 -55 135 60.00
KKRC204 738,643 1,288,913 270.14 60.00 -55 135 60.00
KKRC205 738,664 1,288,892 270.66 60.00 -55 135 60.00
KKRC206 738,685 1,288,870 270.28 55.00 -55 135 55.00
KKRC207 738,706 1,288,849 270.34 64.00 -55 135 64.00
KKRC208 738,729 1,288,829 270.69 57.00 -55 135 57.00
KKRC209 738,748 1,288,806 271.24 60.00 -55 135 60.00
KKRC210 738,769 1,288,784 271.60 60.00 -55 135 60.00
KKRC211 738,790 1,288,763 271.65 60.00 -55 135 60.00
KKRC212 738,811 1,288,741 271.58 54.00 -55 135 54.00
KKRC213 738,832 1,288,720 271.37 60.00 -55 135 60.00
KKRC214 738,852 1,288,698 271.20 60.00 -55 135 60.00
KKRC215 738,873 1,288,677 271.06 60.00 -55 135 60.00
KKRC216 739,030 1,288,949 267.25 52.00 -55 135 52.00
KKRC217 739,049 1,288,931 266.52 70.00 -55 135 70.00
KKRC218 739,073 1,288,907 266.72 70.00 -55 135 70.00
KKRC219 739,065 1,288,986 266.47 70.00 -55 135 70.00
KKRC220 739,090 1,288,962 266.17 61.00 -55 135 61.00
KKRC221 739,111 1,288,941 266.35 55.00 -55 135 55.00
KKRC222 739,135 1,288,984 265.76 60.00 -55 135 60.00
KKRC223 739,156 1,288,962 265.80 60.00 -55 135 60.00
KKRC224 739,177 1,288,940 266.35 49.00 -55 135 49.00
KKRC225 738,990 1,289,277 269.59 55.00 -55 135 55.00
KKRC226 739,027 1,289,309 270.67 60.00 -55 135 60.00
KKRC227 738,374 1,289,487 271.52 60.00 -55 135 60.00
KKRC228 738,395 1,289,465 271.69 60.00 -55 135 60.00
KKRC229 738,416 1,289,443 271.78 60.00 -55 135 60.00
KKRC230 738,437 1,289,421 271.79 60.00 -55 135 60.00
KKRC231 738,458 1,289,399 271.67 60.00 -55 135 60.00
KKRC232 738,479 1,289,377 271.86 60.00 -55 135 60.00
KKRC233 738,500 1,289,355 271.88 60.00 -55 135 60.00
KKRC234 738,521 1,289,333 271.73 60.00 -55 135 60.00
KKRC235 738,542 1,289,311 271.43 60.00 -55 135 60.00
KKRC236 738,564 1,289,289 271.00 82.00 -55 135 82.00
KKRC237 738,894 1,288,655 270.84 80.00 -55 135 80.00
Phase 3 drilling continues at Kiaka. The program 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.
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.
%SEDAR: 00026749E
Image with caption: "Figure 1: Location of the holes referred to in this press release. (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20111013_C3774_PHOTO_EN_4447.jpg
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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