TORONTO, September 14, 2011 /PRNewswire/ --
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces drilling results from a scout, Reverse Circulation ("RC"), drilling program on the Nassara South-West Gold target ("Nassara SW") in Burkina Faso. This is the first drilling program to be conducted on this target, which is located on a parallel structure to the Nassara Main Zone lying approximately 1.4 kilometers to the northeast (see Figure 2).
Five out of six shallow scout RC holes, drilled along three fences perpendicular to the strike of the Nassara SW shear, intersected mineralization over significant widths. Results from the seventh hole, YRC07 are still outstanding. Mineralization occurs in a set of northwesterly trending parallel shears over 600m of strike. The target remains open along strike in both directions. Highlights include:
- YRC03 : 10.0m @ 1.37g/t gold
- YRC04 : 8.0m @ 1.75g/t gold
- YRC05 : 3.0m @ 1.21g/t gold
- YRC06 : 10.0m @ 1.01g/t gold
Kevin Bullock, Volta's CEO, said, "These results from Nassara SW confirm the prospectivity of parallel structures to the Nassara Main Zone, significantly adding to the overall potential of the area. Based on these initial results we are eager to drill another two untested anomalous structures in the Nassara area."
Results for the holes are highlighted in Table 1. Analyses of the Volta samples were undertaken by fire assay on a 50g charge at BIGS 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: Main Gold Intersections
FROM TO INTERVAL GRADE HOLE ID m m m g/t Au REMARKS YRC02 17,00 26,00 9,00 0,50 YRC03 23,00 33,00 10,00 1,37 CORE LOSS : 30.0-32.0m AND 53,00 62,00 9,00 0,71 Incl. 54,00 57,00 3,00 1,42 YRC04 28,00 30,00 2,00 1,41 AND 39,00 47,00 8,00 1,75 YRC05 27,00 30,00 3,00 1,21 YRC06 42,00 55,00 13,00 0,75 AND 61,00 71,00 10,00 1,01
Notes on Tables 1:
- Intervals are hole length. True width is unknown at this time.
- 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.
- The intersections listed in the table represent sections of at least 3m in excess of 0.5g/t Au or 2m in excess of 1g/t Au.
- The intersections represent sections drilled by reverse circulation (RC).
- The drill holes were generally 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.
- Samples were sent to BIGS Laboratories in Ouagadougou for standard preparation followed by Fire Assay on a 50g charge.
- Certified standards were inserted every 15 samples, field duplicates about every 25 and blanks about every 25 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.
Soil geochemical sampling and ground geophysical surveying (magnetics and Induced Polarization (IP) Gradient Array), mapping and subsequent trenching over the larger Nassara area indicate the presence of several more structures parallel to Nassara Main Zone shear, including the Nassara SW shear. The scout drilling carried out over the Nassara SW target is part of a 15,000m combined reverse circulation ("RC") and diamond drilling ("DD") program over the larger Nassara gold prospect on the Danyoro permit. The Danyoro permit forms part of the 100% Volta-owned Gaoua project in southern Burkina Faso, West Africa (see Figure 1). The current drilling campaign has been designed to systematically test wider and higher grade sections along the 2.5km of mineralised strike identified to date along the Nassara Main Zone (Nassara MZ) as well as extending the drilling depth to 150m vertical metres. In addition, scout drilling is being undertaken along strike on the recently identified northern (3.5km) and southern (2km) extensions of the Nassara MZ (see Figure 2). The remaining results from drilling (completed on 3rd September) on the Nassara Main Zone are currently being finalised and are scheduled to be released later this month.
TABLE 2: Borehole collar coordinates and orientation parameters
BHID UTM_X UTM_Y RL DIP AZI-TN DEPTH YRC01 481562 1127066 329 55 55 70 YRC02 481486 1127013 308 55 55 84 YRC03 481517 1127035 285 55 55 77 YRC04 481226 1127381 285 55 55 90 YRC05 481172 1127648 285 55 55 90 YRC06 481105 1127603 306 55 55 108 YRC07 481263 1127401 310 55 55 88
Under the guidelines of National Instrument 43-101, the qualified person for the Gaoua 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.
For further information, please refer to our website http://www.voltaresources.com or contact:
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.
To view "Figure 1: Regional Setting and location of the Nassara Prospect" and "Figure 2: Location of boreholes on the Nassara SW Zone, please click http://files.newswire.ca/407/Volta-Sep14.pdf
For further information:
Kevin Bullock, P.Eng., President & Andreas Curkovic, Investor CEO Relations Tel: +1(647)388-1842 or Tel: +1(416)577-9927 Fax: +1(416)867-2298 Email: email@example.com
SOURCE Volta Resources Inc.