Volta Completes Its In-fill and Extension Drilling Program at Its Kiaka Gold
Project
Intersects 54.0m at 3.16g/t Gold, Including 19.0m at 5.92g/t Gold
- Also 179.25m @ 1.05g/t gold including 13.0m @ 2.68g/t gold -
TSX: VTR
TORONTO, June 22 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the drill results from the next completed sections at its Kiaka Gold Project, located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. To date, 113 holes (17,517meters) have been drilled, thereby completing the planned infill and extension drilling to be used to define a NI43-101 compliant resource at the Central Area at Kiaka.
To date all the results have been received, with this news release covering the latest holes, two of which are located on Section 4800N, two on Section 4900N, four on section 5050N, six on Section 5650N and four on Section 5750N (See Figure 1). In addition the recently received assay results of one hole located on formerly released section 5150N (see News release of June 3rd, 2010) has been added as well as six Randgold holes (labeled hereafter RRL) that have been re-assayed on these sections. The highlights from these sections include:
- KRD91 : 11.00m @ 1.21 g/t Au, - KRD89 : 3.85m @ 4.34 g/t Au - KDH92 : 40.80m @ 0.97 g/t Au, including 18.10m @ 1.56 g/t Au AND - KDH92 : 135.10m @ 0.69 g/t Au, including 21.65m @ 1.06 g/t Au - KRD104 : 76.75m @ 0.84 g/t Au, including 24.0m @ 1.63 g/t Au - KRD106 : 54.0m @ 3.16 g/t Au, including 19.0m @ 5.92 g/t Au and 10.0m @ 4.43 g/t Au - KRD68 : 33.00m @ 1.02 g/t Au, including 9.0m @ 2.04 g/t Au - RRL_KDH12 40.00m @ 0.80 g/t Au, including 9.0m @ 1.10 g/t Au - RRL_KDH17 : 118.00m @ 1.13 g/t Au, including 13.0m @ 2.39 g/t Au AND - RRL_KDH17 : 52.00m @ 1.48 g/t Au, including 36.0m @ 1.80 g/t Au - KDH97 : 179.25m @ 1.05 g/t Au, including 14.7m @ 2.68 g/t Au - KRD95 : 53.25m @ 0.85 g/t Au, - KRD96 : 7.00m @ 1.47 g/t Au AND - KRD96 : 5.70m @ 1.54 g/t Au - RRL_KRC09 : 13.00m @ 0.94 g/t Au, including 7.0m @ 1.41 g/t Au
Kevin Bullock, Volta's CEO, said, "We are very pleased to have concluded our first drill campaign at Kiaka. It's particularly satisfying to conclude with more than three grams over 54 meters - one of our best holes yet. We are on track to release our first resource estimate by the end of this month and then begin the next phase of Kiaka's development.
Section 5650N, an in-fill line between 5600N (see News Release of 21 April, 2010) and 5700N (see News Release of 30 April, 2010), confirmed the continuity along strike of the broad zone of mineralization as well as the higher grade portions intersected in the adjacent sections. The higher-grade portions can be related to a distinct alteration style and more intense deformation that can be traced from section to section.
Holes on Section 5050N continue to intersect the central mineralization, while hole KRD106 on section 5150N, returned outstanding wide and high-grade intercepts.
Sections 4900N and 4800N have tested the central mineralization a further 200m to the south of last released section (5000N, see News Release of 10 June, 2010). Mineralized intercepts, though locally high-grade, are narrow and indicate that the main orebody pinches out. Interpretation of the geophysical data (see News Release of 4 May, 2010) suggests that the mineralization may widen-up further south, along the same northeast trend as seen in the Central Area. The Company is currently drilling two extended sections across the interpreted position where the KMZ is thought to be widening in the South Area. Results are awaited and will be reported as soon as available.
The holes on section 5750N have only intersected narrower and/or lower-grade mineralized intercepts. Structural interpretation of the data from the northern sections suggests that the KMZ mineralization may be displaced to the southeast across an easterly trending, north dipping fault (see also News Release of 3 and 10 June, 2010).
To date, Volta's drill program has tested only the Central Area, comprising 1,100m strike extent of the 2,800m long KMZ zone. The program in-filled and extended drilling on the Central Area such that the KMZ zone is drilled to 50m x 50m spacing from surface to a 150m vertical depth and 100m x 50m from 150m to 200m vertical depth. Volta is on track to finalize a maiden National Instrument 43-101 ("NI43-101") compliant resource before the end of June 2010. It should be emphasized that this infill drilling is limited to a vertical depth of 200 meters, whereas previous in-house drilling and estimates by Randgold for the same area extended to a vertical depth of 300m. Consequently, the company is aiming to convert approximately two thirds of the Randgold in-house estimates to NI43-101 compliant resource categories during the current phase.
Results for the holes on sections 4800N, 4900N, 5050N, 5150N, 5650N and 5750N are highlighted in Table 1 below and on the sections in the Figures 2 to 4. 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 from for Sections 4800N, 4900N, ------------------------------------------------------------------------- 5050N, 5150N, 5650N and 5750N ----------------------------- ------------------------------------------------------------------------- SECTION HOLE ID FROM TO INTERVAL GRADE COMMENTS ------------------------------------ m m m g/t Au ------------------------------------------------------------------------- 4800N KRD91 63.20 74.20 11.00 1.21 ---------------------------------------------------------------- AND 111.20 121.15 9.95 0.54 ---------------------------------------------------------------- KKRC45 0.00 13.00 13.00 0.69 ---------------------------------------------------------------- Including 6.00 13.00 7.00 0.99 ---------------------------------------------------------------- RRL-KDH06 174.00 192.00 18.00 0.67 Randgold drill hole ------------------------------------------------------------------------- 4900N KRD89 25.00 46.00 21.00 0.55 ---------------------------------------------------------------- AND 52.00 55.85 3.85 4.34 ---------------------------------------------------------------- AND 129.00 140.10 11.10 0.58 halted in mineralization ------------------------------------------------------------------------- 5050N KRD65 No significant values ---------------------------------------------------------------- KDH92 57.20 98.00 40.80 0.97 ---------------------------------------------------------------- Including 70.00 88.10 18.10 1.56 ---------------------------------------------------------------- AND 129.00 264.10 135.10 0.69 ---------------------------------------------------------------- Including 185.00 193.00 8.00 1.49 ---------------------------------------------------------------- Including 200.35 222.00 21.65 1.06 ---------------------------------------------------------------- Including 225.00 233.00 8.00 1.20 ---------------------------------------------------------------- RRL_KDH12 46.00 127.00 81.00 0.65 Randgold drill hole ---------------------------------------------------------------- Including 46.00 53.00 7.00 1.48 ---------------------------------------------------------------- Including 63.00 66.00 3.00 4.23 ---------------------------------------------------------------- Including 79.00 82.00 3.00 1.26 ---------------------------------------------------------------- AND 165.00 205.00 40.00 0.80 ---------------------------------------------------------------- Including 165.00 169.00 4.00 1.32 ---------------------------------------------------------------- Including 174.00 183.00 9.00 1.10 ---------------------------------------------------------------- Including 188.00 194.00 6.00 1.53 ---------------------------------------------------------------- KRD104 9.25 86.00 76.75 0.84 ---------------------------------------------------------------- Including 15.25 21.25 6.00 0.85 ---------------------------------------------------------------- Including 24.25 48.25 24.00 1.63 ---------------------------------------------------------------- Including 54.25 58.00 3.75 1.23 ---------------------------------------------------------------- KRD98 1.00 16.00 15.00 0.70 ---------------------------------------------------------------- Including 1.00 5.00 4.00 1.47 ------------------------------------------------------------------------- 5150N KRD106 1.20 55.20 54.00 3.16 update ---------------------------------------------------------------- Including 1.20 20.20 19.00 5.92 ---------------------------------------------------------------- Including 27.20 37.20 10.00 4.43 ---------------------------------------------------------------- Including 48.20 51.20 3.00 1.07 ---------------------------------------------------------------- AND 66.20 72.20 6.00 1.58 ------------------------------------------------------------------------- 5650N KRD68 16.00 49.00 33.00 1.02 ---------------------------------------------------------------- Including 29.00 34.00 5.00 1.79 ---------------------------------------------------------------- Including 39.00 48.00 9.00 2.04 ---------------------------------------------------------------- KRD67 14.00 44.00 30.00 0.64 ---------------------------------------------------------------- Including 16.00 19.00 3.00 1.90 ---------------------------------------------------------------- Including 36.00 39.00 3.00 1.20 ---------------------------------------------------------------- RRL-KDH17 85.00 88.00 3.00 1.14 Randgold drill hole ---------------------------------------------------------------- AND 111.00 229.00 118.00 1.13 ---------------------------------------------------------------- Including 131.00 139.00 8.00 1.67 ---------------------------------------------------------------- Including 143.00 180.00 37.00 1.27 ---------------------------------------------------------------- Including 186.00 199.00 13.00 2.39 ---------------------------------------------------------------- Including 202.00 208.00 6.00 1.46 ---------------------------------------------------------------- Including 211.00 221.00 10.00 1.40 ---------------------------------------------------------------- AND 240.00 292.00 52.00 1.48 ---------------------------------------------------------------- Including 241.00 277.00 36.00 1.80 ---------------------------------------------------------------- AND 302.00 331.00 29.00 0.56 ---------------------------------------------------------------- KDH97 56.00 235.25 179.25 1.05 halted in mineralization ---------------------------------------------------------------- Including 61.30 76.00 14.70 2.68 ---------------------------------------------------------------- Including 79.75 107.00 27.25 1.13 ---------------------------------------------------------------- Including 113.00 130.00 17.00 1.39 ---------------------------------------------------------------- Including 143.90 147.90 4.00 1.27 ---------------------------------------------------------------- Including 161.00 166.10 5.10 1.10 ---------------------------------------------------------------- Including 174.85 192.10 17.25 1.37 ---------------------------------------------------------------- KRD95 23.00 46.00 23.00 0.51 ---------------------------------------------------------------- Including 42.00 45.00 3.00 1.31 ---------------------------------------------------------------- AND 72.00 112.50 40.50 0.58 ---------------------------------------------------------------- Including 75.00 78.80 3.80 1.35 ---------------------------------------------------------------- AND 128.00 181.25 53.25 0.85 ---------------------------------------------------------------- KRD96 38.00 45.00 7.00 1.47 ---------------------------------------------------------------- AND 54.00 88.00 34.00 0.61 ---------------------------------------------------------------- Including 76.00 81.70 5.70 1.54 ---------------------------------------------------------------- AND 129.00 145.40 16.40 0.50 halted in mineralization ---------------------------------------------------------------- KRD94 21.00 36.00 15.00 0.61 ---------------------------------------------------------------- AND 44.00 66.00 22.00 0.57 ------------------------------------------------------------------------- 5750N KRD87 69.00 73.00 4.00 1.29 ---------------------------------------------------------------- KRD88 68.00 89.00 21.00 0.55 ---------------------------------------------------------------- RRL-KRC09 38.00 51.00 13.00 0.94 Randgold drill hole ---------------------------------------------------------------- Including 42.00 49.00 7.00 1.41 ------------------------------------------------------------------------- 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 (increased to 6m in KDH97). 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. No top cut has been applied. 4) The intersections listed in the table represent sections of at least 3m in excess of 1g/t Au and/or sections of at least 10m in excess of 0.5g/t Au. 5) The intersections represent sections drilled by reverse circulation (RC) and/or cored drilling (see Table 2). 6) 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 metre 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. 7) Samples were sent to ALS Chemex in Ouagadougou for standard preparation followed by Fire Assay on a 50g charge. 8) 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. 9) For the listed Randgold holes the re-assay values have been used. Re- assays were performed on pulps or rejects of previously assayed samples in exactly the same manner as for the Volta samples. Where no re-assays were available, the Randgold assay values have been used. The Randgold assay results are considered to be reliable and acceptable. TABLE 2: Borehole collar coordinates and orientation parameters for ------------------------------------------------------------------- Section 4800N, 4900N, 5050N, 5150N, 5650N and 5750N --------------------------------------------------- ------------------------------------------------------------------------- Elev- Azim- SECTION BHID Easting Northing ation Dip uth Depth RC DD ------------------------------------------------------------------------- 4800N KKRC45 738995 1288985 267.10 -55 135 80.00 80.00 0.00 ----------------------------------------------------------------- KRD91 738962 1289018 266.80 -55 135 145.00 83.20 61.80 ----------------------------------------------------------------- RRL_KDH06 738943 1289063 266.60 -45 130 211.00 0.00 211.00 ------------------------------------------------------------------------- 4900N KKRC44 739066 1289057 266.10 -55 135 57.00 57.00 0.00 ----------------------------------------------------------------- KRD89 739033 1289092 266.00 -55 135 140.10 42.40 97.70 ----------------------------------------------------------------- RRL_KDH10 738986 1289143 267.30 -45 130 304.00 0.00 304.00 ------------------------------------------------------------------------- 5050N KRD65 738997 1289338 270.57 -58 135 52.00 52.00 0.00 ----------------------------------------------------------------- KDH92 739067 1289269 269.07 -55 135 265.25 0.00 265.25 ----------------------------------------------------------------- KRD104 739140 1289197 267.31 -56 135 135.00 55.25 79.75 ----------------------------------------------------------------- KRD98 739161 1289172 266.83 -55 135 80.55 40.50 40.05 ----------------------------------------------------------------- RRL-KDH12 739078 1289269 269,13 -45 130 328.00 0,00 328,00 ------------------------------------------------------------------------- 5150N KRD106 739225 1289248 266.74 -55 135 110.00 72.20 37.80 ------------------------------------------------------------------------- 5650N KDH97 739533 1289656 269.20 -55 135 235.00 0.00 235.00 ----------------------------------------------------------------- KRD67 739459 1289731 270.50 -54 135 47.00 47.00 0.00 ----------------------------------------------------------------- KRD68 739409 1289782 272.40 -57 135 51.00 51.00 0.00 ----------------------------------------------------------------- KRD94 739625 1289564 267.70 -55 135 100.00 56.75 43.25 ----------------------------------------------------------------- KRD95 739564 1289625 268.70 -55 135 186.15 45.00 141.15 ----------------------------------------------------------------- KRD96 739602 1289588 268.10 -55 135 145.40 41.00 104.40 ----------------------------------------------------------------- RRL_KDH17 739466 1289705 270.40 -45 125 349.00 0.00 349.00 ------------------------------------------------------------------------- 5750N KRD100 739753 1289579 267.50 -55 135 230.50 72.10 158.40 ----------------------------------------------------------------- KRD86 739671 1289662 269.10 -55 135 80.00 39.00 41.00 ----------------------------------------------------------------- KRD87 739636 1289697 269.70 -56 135 160.00 89.00 71.00 ----------------------------------------------------------------- KRD88 739699 1289634 269.00 -56 135 165.20 66.50 98.70 ----------------------------------------------------------------- RRL_KRC08 739619 1289748 270.80 -45 130 94.00 94.00 0.00 ----------------------------------------------------------------- RRL_KRC09 739664 1289709 270.20 -45 130 90.00 90.00 0.00 ------------------------------------------------------------------------- * KRD67 and KRD68 are uncompleted holes
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.
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 Figures 1 through 6 of the Kiaka Gold Project, please visit: http://files.newswire.ca/407/Volta_Kiaka_June22.doc
%SEDAR: 00026749E
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 protected]; Andreas Curkovic, Investor Relations, 416-577-9927
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