- Intersects 195.32m @ 1.25g/t Gold, Including 58.2m @ 1.97g/t Gold -
TORONTO, Jan. 16, 2012 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the drill results from 9 holes from its on-going Phase 3 program at its Kiaka Gold Project in Burkina Faso. Phase 3 comprises approximately 50,000m of drilling being undertaken to extend resources in the Central Area, to follow up positive results in the South Area, to test several more ground geophysical targets and undertake scout drilling on regional targets on the Kiaka property (see News Release of 13 October 2011).
Results have been received for an additional 9 holes (see News release of 29 November 2011), located on 2 sections, respectively 5850N (Figure 2) and 5900N (Figure 3). The 9 holes, comprising a total of 3,589.2m, confirm the continuity of wide mineralization, typical of the Kiaka Main Zone (KMZ) deposit to the North beneath a shallow southeasterly dipping fault. Mineralization has been intersected down to a vertical depth exceeding 350m. The mineralization remains open towards the northeast and is currently being tested by the on-going drilling program.
The highlights from the current drilling on these sections include:
| - KDH278 :
|| 69.55m @ 1.61g/t Au, including 21.1m @ 2.11g/t Au
and 20.9m @ 2.02g/t Au.
| - KDH304 :
|| 195.32m @ 1.25g/t Au, including 58.2m @ 1.97g/t Au
and 11.0m @ 1.98g/t Au
| - KDH307 :
|| 107.00m @ 0.66g/t Au, including 8.0m @ 1.14g/t Au
and 7.0m @ 1.21g/t Au
| - KDH281 :
|| 83.55m @ 1.14g/t Au, including 49.2m @ 1.50g/t Au
and 7.85m @ 1.42g/t Au
|- KDH303 :||161.00m @ 0.71g/t Au, including 10.35m @ 2.12g/t Au|
Kevin Bullock, Volta's CEO, said, "These robust results are notable on their own, but they are even more encouraging because these holes were drilled in an area which does not include previously defined NI43-101 resources. These results, along with earlier ones, will add more gold ounces to our upcoming revised resource estimate. Our new resource estimate will complement our pre-feasibility study expected to be completed by the end of Q1/12. At that time we will be in a strong position to aggressively pursue plans for production at Kiaka."
Results for the holes are highlighted in Table 1 and in locations shown in Figure 1. 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 rigorous QA/QC elements that employed the inclusion of certified standards and blanks.
Table 1: Highlights of gold intersections for the reported boreholes
|SECTION||BHID||FROM (m)|| TO
|INTERVAL (m)|| Au
|AND||381.70||451.25||69.55||1.61||ENDED IN MINERALIZATION|
|AND||235.00||430.32||195.32||1.25||399.0 - 400.0m = 10.85g/t Au|
|INCL||422.00||425.00||3.00||1.10||ENDED IN MINERALIZATION ;|
|AND||368.00||451.55||83.55||1.14||ENDED IN MINERALIZATION|
|AND||237.00||398.00||161.00||0.71||263.0-264.0m = 11.8g/t Au|
|AND||348.00||352.00||4.00||8.43||350.0-351.0m = 32.50g/t|
|KDH308||NO SIGNIFICANT INTERCEPTS|
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 envelop, except for hole KDH278 (381.7-451.25m intercept) where it has been increased to 6m.
- 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 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 cored drilling (see Table 2).
- The drill core was 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 sent to ALS Chemex in Ouagadougou for standard preparation followed by Fire Assay on a 50g charge.
- 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.
TABLE 2: Collar coordinates and orientation parameters for the reported boreholes
|SECTION||Hole ID||Easting||Northing||Elevation (m)||Depth (m)||Dip (°)||Azimuth (°)|
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, 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: Location of drillhole collars in the Kiaka Central Area". PDF available at: http://stream1.newswire.ca/media/2012/01/16/20120116_C4154_DOC_EN_8919.pdf
PDF with caption: "Figure 2: Section 5850N". PDF available at: http://stream1.newswire.ca/media/2012/01/16/20120116_C4154_DOC_EN_8920.pdf
PDF with caption: "Figure 3: Section 5900N". PDF available at: http://stream1.newswire.ca/media/2012/01/16/20120116_C4154_DOC_EN_8921.pdf
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
|or|| Andreas Curkovic, Investor Relations
Tel: (416) 577-9927