TORONTO, September 5, 2013 /PRNewswire/ --
- Auger Drilling Confirms Significant Exploration Targets at Nakomgo, Burkina Faso -
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) is providing an update on the progress of exploration campaigns carried out over its wholly-owned permits located in proximity to Volta Resources' flagship Kiaka Gold Project, Burkina Faso, West Africa. These permits include the Tanema, Basgana, Safoula, Yibogo and Nakomgo permits and the Kiaka permit which all comprise the Greater Kiaka Project Area (see Figure 1).
Volta Resources has maintained an on-going low-cost field program on these permits primarily focused on the ground assessment of targets identified by the interpretation of the high resolution geophysical imagery and ASTER imagery and generated by previous exploration work carried out by Randgold (see News Release dated April 11, 2013).
Ground follow-up on selected targets has comprised detailed structural and geological mapping, soil and grab rock sampling and drilling of 1,871 auger holes using the Company's own tractor-mounted rigs on the Nakomgo permit.
The Company has also completed detailed geological mapping of the Kiaka, Nakomgo, Safoula and Yibogo tenements and prospecting of structures and other targets continues. A scout soil sampling program has identified a new mineralized structure in the northern part of the Basgana permit which is open towards the northeast and southwest (see Figure 1).
The auger drilling campaign has identified several coherent gold anomalies on the Company's wholly-owned Nakomgo permit (see Figure 2). Significantly, the program has identified a gold anomaly on the westernmost tested target, Nakomgo I, where gold results for samples taken in saprolite, at the base of the holes, regularly exceed 100 ppb gold with peaks of 377 ppb gold.
Kevin Bullock, Volta's President & CEO, said, "These results continue to show the excellent prospectivity of the Volta Resources permits located along the Markoye Fault Corridor between two world class deposits, our own Kiaka deposit and Orezone's Bombore deposit. We aim to leverage off the knowledge gained at Kiaka by actively continuing with low cost exploration to further define and rank the targets generated on our extensive land package in order to prioritize them for follow-up drilling in the future. Volta's priority is ultimately moving the Kiaka Gold Project into production. Our efforts are focussed on realizing this goal in the most cost effective and efficient way as possible."
The Nakomgo auger program tested targets highlighted during the interpretation of Volta Resources high resolution airborne geophysical data, supported by detailed ground geological mapping and soil geochemical surveys, trenching and Randgold RAB drilling (see News Release of April 11, 2013). 1,871 auger holes, totalling 5,319m, have been drilled on a a 200 x 200 metre grid at Nakomgo I and a 200 x 400 metre grid at Nakomgo II (see Figure 2). Samples taken at the base of the saprolite were sent to BIGS Laboratories, Ouagadougou, Burkina Faso for standard preparation (crushing, pulverization, splitting) and gold fire assay on 50g charge. The quality, precision and accuracy of all the results were tested through the systematic inclusion of Au standards and field blanks. The results for the reported holes have passed the Company's rigorous QA/QC protocols.
The best results were obtained from the Nakomgo I prospect which is located in the western part of the Nakomgo permit, where a major NNE-SSW oriented auger anomaly has been outlined (See Figures 2 and 3). The anomaly extends over more than 5km along strike, comprising several +1km long targets, which preferentially occur at intersections of East-West oriented splays or faults cross-cutting the main trend. The northern and southernmost ends of the anomaly coincide with areas of local artisanal workings.
At Nakomgo II a series of anomalous gold values occur in sedimentary formations (quartzite, shales and conglomerates) which form a series of concentric rims around a major granitic pluton (see Figure 3). The host sedimentary rock is highly altered, with abundant sulphides and locally visible intensive silicification.
Further in-fill drilling is planned on the Nakomgo targets as well as on the adjacent Tanema permit, which is assumed to host the southern extension of the Nakomgo II mineralized trend. The Company plans to develop and rank reverse circulation and diamond drill targets at both of these prospects for further testing in the future.
Under the guidelines of National Instrument 43-101, the qualified person for the Greater 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.
About Volta Resources:
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 is focussing on its flagship Kiaka Gold Project (NI-43-101 compliant resources include 153.26 Mt @ 0.99 g/t Au for 4,862,000 ounces in the Measured and Indicated categories and 33.74 Mt @ 0.93g/t for 1,006,000 ounces in the Inferred category (Please see VTR press release dated January 10, 2013) 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). The acquisition of properties around the Kiaka Gold Project has 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.
Image with caption: "Figure 1: Volta Resources Permits and Targets on the Greater Kiaka Project (CNW Group/Volta Resources Inc.)". Image available at: http://40rhel5streamview01.newswire.ca/media/2013/09/05/20130905-702423-30445-b8a2fb10-8a29-4b01-ba64-a71f82855080.jpg
Image with caption: "Figure 2: Auger Drilling Anomalies on the Nakomgo Permit Overlain on Interpreted Structures and Geology (CNW Group/Volta Resources Inc.)". Image available at: http://40rhel5streamview01.newswire.ca/media/2013/09/05/20130905-702423-30446-b8a2fb10-8a29-4b01-ba64-a71f82855080.jpg
Image with caption: "Figure 3: Nakomgo Targets Overlain on Airborne Magnetic Image (CNW Group/Volta Resources Inc.)". Image available at: http://40rhel5streamview01.newswire.ca/media/2013/09/05/20130905-702423-30447-b8a2fb10-8a29-4b01-ba64-a71f82855080.jpg
For further information, please refer to our website http://www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Andreas Curkovic, Investor Relations
SOURCE Volta Resources Inc.