- Intersects 32.0m @ 4.44g/t gold, including 4.0m @ 15.83g/t gold -
- also 15.0m @ 3.87g/t gold, including 4.0m @ 13.07g/t gold -
TORONTO, Sept. 13, 2012 /CNW/ - Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces additional results from its follow-up drilling program at the Kiaka South Area, on its Kiaka Gold property. These comprise the results from 44 drill holes, totaling 6,280m of drilling, representing respectively 27 cored holes (4,547m), 13 Reverse Circulation holes (1,217m) and 4 combined reverse circulation/cored holes (516m). The results confirm the extension 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), within NI-43-101 compliant resources including 117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t Au for 1,000,000 ounces in the Inferred category (Please see VTR press release dated March 21, 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, so far, returned high grade values over narrow to moderate widths confirming the continuity of the high-grade mineralization. The mineralization consists of multiple Northeast-Southwest trending narrow systems enclosed in a North-South orientated envelope. To date the mineralization has been drilled over a strike length of more than 600m, between sections 3625N and 4200N, and to a vertical depth exceeding 150m. Highlights from the current reported holes include:
- KDH379 : 13.80m @ 3.92g/t Au, AND
- KDH379 : 6.95m @ 11.59g/t Au, including 4.00m @ 20.00g/t Au.
- KDH423 : 10.00m @ 5.41g/t Au, including 5.00m @ 10.64g/t Au
- KDH458 : 24.00m @ 1.55g/t Au, including 3.00m @ 7.16g/t Au
- KDH463 : 8.80m @ 3.39g/t Au, including 3.30m @ 8.60g/t Au
- KKRC684 : 8.00m @ 2.73g/t Au
- KRD466 : 32.00m @ 4.44g/t Au, including 4.00m @ 15.83g/t Au AND including 4.00m @ 15.54g/t Au
- KRD468 : 15.00m @ 3.87g/t Au, including 4.00m @ 13.07g/t Au
Kevin Bullock, Volta Resources' CEO, said, "These results show further promise of significantly enhancing the production economics at Kiaka. The discovery of Kiaka South is another example of how Kiaka has consistently exceeded expectations and, as we move toward development, we will continue to develop the potential of other targets in close proximity to the main reserve."
Volta Resources is currently working with SRK Consulting (UK) to prepare a maiden NI 43-101 compliant resource estimate for the Kiaka South Area incorporating all results from holes drilled to date at Kiaka South, including the results reported in this press release.
Results for the holes are highlighted in Table 1 and locations shown in Figure 1. Analyses of the Volta Resources samples were undertaken by fire assay on a 50g charge at ALS Chemex Laboratories and/or at Actlabs Laboratory, both 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
|HOLE ID|| FROM
|KDH379||49.60||63.40||13.80||3.92||62.45-63.4m= 43.02g/t Au|
|AND||241.05||248.00||6.95||11.59||244.0-245.0m =63.8g/t Au and 247.0-248.0m = 15.8g/t Au|
|KDH423||101.00||111.00||10.00||5.41||102.0-103.0m = 18.95g/t Au and 103.0-104.0m = 31.80g/t Au|
|KRD466||4.00||36.00||32.00||4.44||22.0-23.0m = 22.2g/t Au; 23.0-24.0m=37.8g/t Au; 30.0-31.0m=55.4g/t Au|
|KRD468||35.00||50.00||15.00||3.87||37.0-38.0m = 23.0g/t Au; 38.0-39.0m=24.10g/t Au|
Notes on Table 1:
- Intervals are core length. True width is unknown at this time.
- 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.
- 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.
- No top cut has been applied.
- The intersections listed in the table represent sections of at least 1m in excess of 5g/t Au, 2m in excess of 3g/t Au, 3m in excess of 1g/t Au and/or sections of at least 10m in excess of 0.5g/t Au.
- The intersections represent sections drilled by reverse circulation (RC) and/or cored drilling (see Table 2).
- The RC portions of the drill holes were sampled at 1m 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.
- Samples were then sent to ALS Chemex and/or Actlabs in Ouagadougou for Fire Assay on a 50g charge.
- 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 Resources' rigorous QA/QC checks.
The reported holes represent the last holes of the Phase IV drilling programme at Kiaka South. Phase IV, comprising approximately 70,000m of drilling, aimed at extending the resources in the Central Zone, at testing the southern continuity of the KMZ (Kiaka Main Zone) and at delineating the Kiaka South Orebody with a view to define a NI43-101 compliant resource estimate.
Table 2: Collar coordinates and orientation parameters
All holes, except KDH379 (oriented N315°E), were oriented N135°E and drilled with an inclination of -55°.
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.
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 will focus on fast-tracking its flagship Kiaka Gold Project (NI-43-101 compliant resources include 117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t Au for 1,000,000 ounces in the Inferred category [Please see VTR press release dated March 21, 2012] 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.
Image with caption: "Figure #1: Highlights of Current Drill Hole Results (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20120913_C6320_PHOTO_EN_17837.jpg
SOURCE: Volta Resources Inc.
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
Andreas Curkovic, Investor Relations
Tel: (416) 577-9927