- Drilling Will Now Target Similarities to Growing Central Area -
TORONTO, May 4 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) has modified its drill program for the SOUTH AREA of the Kiaka Main Zone ("KMZ") at its Kiaka Gold Project, located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. Volta's ongoing drilling program for the CENTRAL AREA at Kiaka, the subject of the upcoming NI 43-101 resource calculation, remains unchanged, with Volta's infill drilling continuing to confirm the wide mineralized intersections previously drilled by Randgold (see recent press releases).
The modification of the program for the South Area follows the completion of IP gradient array and ground magnetic geophysical surveys and 4 new drill holes in the area. Interpretation of the additional data strongly suggests that the mineralization in the South Area occurs along the same northeast trend as seen in the Central Area. This is in contrast to previous interpretations based on relatively sparse drilling by Randgold that suggested a northerly trend. Consequently, two extended sections will be drilled across the interpreted position where the KMZ is thought to be widening in the South Area, instead of the infill drilling planned previously (see figure 1).
Kevin Bullock, Volta's CEO, said, "We are excited that these geophysical results show structural relationships similar to those already confirmed by drilling the KMZ in the Central Area. These results define an excellent target for wide zones of mineralization and offer the potential of expanding the overall deposit. In addition to delivering the NI43-101 compliant resource estimate scheduled for June 2010 at the Central Area, we will also be testing this new potential in the south area."
A composite geophysical image clearly highlights that most of the mineralization identified so far at the Kiaka deposit is contained between two, well-defined, NE trending "tram track" structures. Furthermore, the wide zone of mineralization, confirmed by our drilling in the Central Area, coincides with north trending cross structures and magnetic highs. This pattern is repeated in the South Area and to the north (see figure 1). The swing of the mineralization from a NE trend to a N-S trend, suggested by previous work, is not supported by the latest data or recent field observations.
The original 150 hole (~22,000m) drill program planned for the current phase has now been modified in order to drill test the large South Area target. It will comprise:
- Central Area (KMZ) - approximately 110 holes for 17,500m (just under
- South Area (KMZ) - approximately 14 holes for 1,500m
The Company is on track to complete the drilling that will be used in the NI-43-101 compliant resource estimation for the Central Area in May, providing sufficient time for assays to be returned and the resource modeling to be completed before the end of June.
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, towards a development decision.
To view Figure 1 of the Kiaka Gold Project, please visit: http://files.newswire.ca/407/VOLTA_KiakaProj_May4.doc
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.
SOURCE Volta Resources Inc.
For further information: For further information: please refer to our website www.voltaresources.com or contact: Kevin Bullock, P.Eng., President & CEO, Tel: (647) 388-1842, Fax: (416) 867-2298, Email: email@example.com; Andreas Curkovic, Investor Relations, Tel: (416) 577-9927