Volta Confirms New Gold Mineralization at its Large Toulfe Anomaly in North-Western Burkina Faso
Jan 24, 2012, 08:56 ET
- Intersects 25.0 Meters at 1.21g/t Gold and 8.0 Meters at 2.98g/t Gold -
TORONTO, Jan. 24, 2012 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the results from its drilling program recently completed at the Toulfe prospect, at its 100% owned Titao I permit, in northwestern Burkina Faso, West Africa. The program aimed at follow up on the positive auger drilling results generated in 2010 and 2011 (see Volta News Release dated September 21, 2011).
The scout drilling program, comprising 70 drill holes (5,607m), targeted a 1.8km long portion of a northeast trending, 3 kilometer long, and up to 500m wide, gold anomaly identified by auger drilling. The anomaly is open both to the northeast and southwest and is subject to some artisanal gold mining activity. The anomaly is coincident with a resistivity high defined by an induced polarization (IP) gradient array survey carried out in December 2010 (see Figure 1).
The program confirmed the presence of a 300-500m wide mineralized corridor hosted in sheared and silicified granitic rocks. The wide, lower-grade mineralized envelope, comprising several zones of higher-grade gold mineralization, has been traced over the entire drilled portion, underlining the importance and potential of the mineralizing system. The drill holes tested the mineralization down to a maximum vertical depth of only 60m. The drilling was therefore limited to highly laterized and weathered litholgies. Deeper drilling, aimed at testing the mineralization underneath the weathered profile will be carried out in the second half of 2012. The mineralization remains open along strike. The highlights from the drilling program include:
- TRC10 : 3.0m @ 2.92g/t gold from 18.0m
- TRC22 : 3.0m @ 1.11g/t gold from 11.0m
- TRC32 : 8.0m @ 2.98g/t gold from 8.0m
- TRC37 : 9.0m @ 1.36g/t gold from 36.0m
- TRC38 : 25.0m @ 1.21g/t gold from 2.0m
- TRC46 : 7.0m @ 1.96g/t gold from 12.0m, including 3.0m @ 3.69g/t gold
- TRC65 : 3.0m @ 1.98g/t gold from 40.0m
- TRC69 : 5.0m @ 1.72g/t gold from 25.0m
- TRC74 : 21.0m @ 0.95g/t gold from 10.0m, including 11.0m @ 1.31g/t gold
Kevin Bullock, Volta's CEO, said, "These results confirm that Toulfe is a new discovery for us in Burkina Faso. These are impressive first drill holes that provide us with quality targets for our next round of drilling. The results are particularly interesting due to their proximity to surface. As we continue to advance our flagship Kiaka project down the production path, we remain committed to demonstrate that we have further exciting exploration potential in Burkina Faso."
The holes were drilled to lengths of up to 85 meters, all inclined at -55° to the southeast. In all 5,600 drill samples and 1,215 control samples (standards, duplicates and blanks) were submitted to ALS Chemex's laboratories in Ouagadougou, Burkina Faso. 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 for the reported boreholes.
|AND||65.00||75.00||10.00||0.52||ENDED IN MINERALIZATION|
|TRC32||8.00||16.00||8.00||2.98||8.0-9.0m = 21.3g/t Au|
|TRC38||2.00||27.00||25.00||1.21||2.0-3.0m = 13.85g/t Au|
|TRC59||78.00||80.00||2.00||2.16||ENDED IN MINERALIZATION|
|AND||72.00||80.00||8.00||0.59||ENDED IN MINERALIZATION|
|AND||57.00||72.00||15.00||0.47||ENDED IN MINERALIZATION|
Notes on Tables 1:
1) Intervals are core length. True width is unknown at this time.
2) 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.
3) The intersections listed in the table represent sections of at least 8m in excess of 0.3g/t Au or 3m in excess of 1g/t Au (except for TRC59 ended with 2m of mineralization).
5) No top cut has been applied.
6) The intersections represent sections drilled by reverse circulation (RC; see Table 2).
7) The RC drill holes were generally sampled at 1-m intervals. Samples were riffle-split to provide 2 kg samples which were submitted to the laboratory of the Bureau des Mines et de la Géologie du Burkina (BUMIGEB) for standard preparation (dry, crush, split, pulverize) under Company's supervision.
8) Samples were then sent to ALS Chemex in Ouagadougou for Fire Assay on a 50g charge.
9) 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's rigorous QA/QC checks.
TABLE 2: Borehole Collar Coordinates and Orientation Parameters
Under the guidelines of National Instrument 43-101, the qualified person for the Titao Project (which includes the Toulfe Prospect) 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.
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.
PDF with caption: "Figure 1: Borehole Collar Location and Highlights of Toulfe Phase 1 RC Drilling". PDF available at: http://stream1.newswire.ca/media/2012/01/24/20120124_C6304_DOC_EN_9131.pdf
For further information:
|For further information, please refer to our website www.voltaresources.com or contact:|
|Kevin Bullock, P.Eng., President & CEO||Andreas Curkovic, Investor Relations|
|Tel: (647) 388-1842||or||Tel: (416) 577-9927|
|Fax: (416) 867-2298|
|Email: [email protected]|
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