- 10.0m @ 13.01g/t Gold, 9.8m @ 4.48g/t Gold, 20.0m @ 3.26g/t Gold -
TORONTO, June 12, 2012 /CNW/ - Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces the next round of results from its on-going drilling program at the Kiaka South Area, on its Kiaka Gold property. These comprise the results from 12 core holes and 22 reverse circulation ("RC") holes, totaling 4,402.98m of drilling, which confirm the presence 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). The Kiaka South Area mineralization was initially identified by RC drilling carried out during the Phase 3 program at the Company's Kiaka Gold Project, in late 2011 (see News Release of 14 February 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 returned high grade values over narrow to moderate widths confirming the continuity of the high-grade mineralization. Ongoing drilling is being targeted to delineate, and better define, a series of interpreted parallel "en echelon" northeast striking lenses contained within a broader northerly trending anomalous envelope. A moderate northerly plunge to the individual lenses is currently being inferred. To date the mineralization has been drilled over a strike length of more than 350m, between sections 3750N and 4100N, and to a vertical depth exceeding 150m. Highlights from the current reported holes include:
- KDH360 : 9.8m @ 4.48g/t Au AND 3.0m @ 5.15g/t Au
- KDH362 : 2.6m @ 8.10g/t Au
- KDH363 : 20.0m @ 3.26g/t Au
- KDH364 : 3.0m @ 2.95g/t Au
- KDH367 : 6.8m @ 5.21g/t Au
- KDH369 : 4.0m @ 16.38g/t Au
- KDH372 : 6.2m @ 4.33g/t Au
- KDH373 : 16.0m @ 2.36g/t Au
- KKRC485 : 10.0m @ 13.01g/t Au
Kevin Bullock, Volta Resources CEO, said, "These results bolster our expectations of additional high grade results at Kiaka South demonstrating potential for grade and resource augmentation for the Kiaka Project as a whole. We are particularly pleased that these results start at surface and now have an expanded strike zone."
Results for the holes are highlighted in Table 1 and in locations shown in Figure 1. Analyses of the Volta Resources samples were undertaken by fire assay on a 50g charge at ALS Chemex Laboratories 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||TO||INTERVAL||Au g/t||COMMENT|
|AND||126.90||136.70||9.80||4.48||130.9-131.5m = 64.3g/t|
|AND||147.00||150.00||3.00||5.15||147.0-148.0m = 14.65g/t|
|KDH361||63.00||65.00||2.00||8.10||63.7-64.3m = 18.65g/t|
|AND||142.00||149.00||7.00||0.77||98.0-98.95m = 22.1g/t|
|KDH363||30.00||50.00||20.00||3.26||MID = 4m|
|incl.||30.00||33.00||3.00||10.13||32.0-33.0m = 23.2g/t|
|incl.||37.00||50.00||13.00||2.64||41.0-42.0m = 19.95g/t|
|AND||156.00||158.00||2.00||15.43||156.0-157.0m = 29.8g/t|
|KDH367||102.30||109.00||6.80||5.21||108.0-109.0m = 22.1g/t|
|KDH369||81.00||85.00||4.00||16.38||81.0-82.0m = 60.8g/t|
|KDH372||61.00||64.00||3.00||42.50||61.0-62.0m = 119g/t|
|AND||221.00||227.20||6.20||4.33||221.0-222.0m = 21.0g/t|
|KDH373||94.00||110.00||16.00||2.36||96.1-97.0m = 29.0g/t|
|AND||41.00||51.00||10.00||13.01||42.0-43.0m = 97.0g/t AND 43.0-44.0m = 27.0g/t|
|AND||99.00||100.00||1.00||5.23||ended in mineralization|
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 3m, except for KDH363, 30.0-50.0m, where it has been increased to 4m.
- No top cut has been applied.
- The intersections listed in the table represent sections of at least 2m in excess of 3g/t Au, 3m in excess of 1g/t Au and/or sections of at least 7m in excess of 0.5g/t Au.
- The intersections represent sections drilled by Cored and/or Rerverse Circulation drilling (see Table 2).
- The cored 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.
- 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 (either ALS Chemex or the Bureau des Mines et de la Géologie du Burkina (BUMIGEB) under Company's supervision) for standard preparation (dry, crush, split, pulverize).
- All samples were analysed by ALS Chemex in Ouagadougou by 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's rigorous QA/QC checks.
Five core rigs and one RC rig are currently drilling at Kiaka South to further delineate the orebody.
TABLE 2 : Collar coordinates and orientation parameters
|| Hole ID
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.
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 90.29 million tonnes @ 1.04 g/t Au for 3,018,000 ounces in the Measured and Indicated categories and 38.52 million tonnes @ 1.00 g/t Au for 1,260,000 ounces in the Inferred category [Please see VTR press release dated June 29, 2011] 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.
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 protected]
Andreas Curkovic, Investor Relations
Tel: (416) 577-9927