Intersects 41.1 m at 1.34 g/t gold, including 3.7 m at 6.4 g/t gold and 5.0 m at 3.66 g/t gold
TSX: VTR
TORONTO, Sept. 9 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) today announced the latest results from the drilling program completed in July on the company's Kiaka Gold Project. The Kiaka project is located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. To date, 155 holes (22,818 meters) have been drilled in the Central and South Areas at Kiaka. This news release reports on the holes that were drilled in June and July 2010 and located south of the Central Area where a NI 43-101 compliant resource estimate has been completed (see news release of June 29th).
A total of 44 holes for 5,738.12 meters were drilled in June and July 2010. The results reported below relate to (see Figure 1 here: http://files.newswire.ca/407/VoltaFig1.pdf):
- Seven holes drilled south of Section 4950N to Section 4550N on the
extension of the KMZ zone in the Central Area.
- Fourteen holes on two exploratory sections in the South Area, 4300N
and 4050N, drilled across a geophysical anomaly previously
interpreted to have similar characteristics to the KMZ in the Central
Area.
- Seven holes drilled along the northerly trending contact between
amphibolite and quartz mica schist in the South Area.
The highlights from this drilling include:
- KRD120: 72.0 m @ 0.51 g/t gold, including 3.0 m @ 3.84 g/t
gold
- KRD121: 11.0 m @ 1.46 g/t gold, including 7.0 m @ 2.15 g/t
gold
- RRL_KDH22 : 30.0 m @ 0.92 g/t gold(1)
- KRD133: 41.1 m @ 1.34 g/t gold, incl. 3.7 m @ 6.40 g/t &
5.0 m @ 3.66 g/t gold
- KDH48: 9.0 m @ 2.25 g/t gold AND 3.9m @ 8.21 g/t gold
- RRL_KRCO2 : 21.0 m @ 4.07 g/t gold, including 5.0 m @ 10.97 g/t
gold(1)
(1) Previous Randgold Intersection
Notably, the drilling has confirmed the southward extension of the KMZ zone in the Central Area to Section 4550N, adding an additional 400m of strike to the deposit previously modeled for the NI43-101 resource reported in June 2010.
The results from the two exploratory sections drilled across the geophysical anomaly in the South Area have not revealed broadly disseminated mineralization. This is probably due to the fact that the dominant lithology in the South Area is amphibolite and not the favorable quartz mica schist that hosts the wide mineralized zones in the structurally similar Central Area. However, significant intersections along the northerly trending contact between the amphibolite and quartz mica schists have identified a narrower target that is approximately 300m long in the South Area.
Kevin Bullock, Volta's CEO, said, "We are pleased that the KMZ in the Central Area has been extended another 400m to the south. Our exploratory drilling across the geophysical anomaly in the South Area points to gold mineralization occuring as narrower intersections along the northerly trending contact zone between the amphibolite and quartz mica schists. This target has been tracked along strike for approximately 300m long in the South Area. We will continue testing other identified targets with comparable structural and geophysical signatures as the Central Area KMZ to find similarly amenable host lithologies to wide mineralization."
Results for the holes covered by this news release are highlighted in Table 1 below. Highlights from former Randgold (labeled with prefix RRL) and Volta holes have been added to the table in order to better appreciate the extent and geometry of the mineralization. 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
-------------------------------------------------------------------------
GRADE
FROM TO INTERVAL g/t MID
AREA SECTION HOLE ID m m m gold m REMARK
-------------------------------------------------------------------------
KRD120 5.00 77.00 72.00 0.51 3
------------------------------------------------------
Including 37.00 40.00 3.00 3.84 1
4950N ------------------------------------------------------
KRD121 21.00 32.00 11.00 1.46 3
-----------------------------------------------
CENTRAL Including 25.00 32.00 7.00 2.15 1
------- -------------------------------------------------------------
AREA KRD132 86.00 98.00 12.00 0.67 2
---- 4700N ------------------------------------------------------
KRD135 78.00 83.00 5.00 1.58 0
Southern -------------------------------------------------------------
extension RRL_KDH22 85.00 91.00 6.00 1.21 1
of KMZ ------------------------------------------------------
Zone AND 100.00 130.00 30.00 0.92 4
------------------------------------------------------
4650N Including 105.00 111.00 6.00 0.97 2
------------------------------------------------------
RRL_KDH07 5.00 22.00 17.00 0.98 3
------------------------------------------------------
Including 5.00 10.00 5.00 1.71 0
------------------------------------------------------
AND 15.00 18.00 3.00 1.72 0
-------------------------------------------------------------
KRD133 60.00 101.10 41.10 1.34 2 Ended in
mineral-
ization
4550N ------------------------------------------------------
Including 65.30 69.00 3.70 6.40 1
------------------------------------------------------
Including 81.00 86.00 5.00 3.66 2
-------------------------------------------------------------------------
KRD117 86.00 91.00 5.00 1.27 3
------------------------------------------------------
SOUTH KRD119 10.00 13.00 3.00 1.50 1
----- 4300N ------------------------------------------------------
AREA RRL_KDH23 66.00 80.00 14.00 0.95 4
---- ------------------------------------------------------
Including 75.00 80.00 5.00 2.05 2
Geophysical -------------------------------------------------------------
Anomaly 4050N KRD109 24.00 29.00 5.00 1.23 0
------------------------------------------------------
Including 25.00 28.00 3.00 1.67 1
-------------------------------------------------------------------------
KRD140 44.00 55.00 11.00 0.70 5
------------------------------------------------------
KDH48 0.00 5.60 5.60 2.07 1
------------------------------------------------------
AND 31.00 40.00 9.00 2.25 3
SOUTH ------------------------------------------------------
----- Including 36.00 40.00 4.00 3.66 2
AREA ------------------------------------------------------
---- AND 94.10 98.00 3.90 8.21 0
------------------------------------------------------
North RRL_KRC02 40.00 61.00 21.00 4.07 3
trending ------------------------------------------------------
Contact Zone Including 40.00 44.00 4.00 5.31 1
------------------------------------------------------
Including 56.00 61.00 5.00 10.97 0
------------------------------------------------------
AND 100.00 103.00 3.00 1.09 0
-------------------------------------------------------------------------
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.
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 Gold and/or sections of at least 10m in excess of
0.5g/t Gold.
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
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.
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.
TABLE 2: Borehole collar coordinates and orientation
----------------------------------------------------
-------------------------------------------------------------------------
Eleva- Hole
HOLEID Easting Northing tion Dip Azimuth Length RC DD
-------------------------------------------------------------------------
KRD120 739068 1289124 266 -55,0 135.0 201.00 50.00 151.00
-------------------------------------------------------------------------
KRD121 739029 1289165 267 -55,0 135.0 110.18 42.00 68.18
-------------------------------------------------------------------------
KRD132 738819 1289024 269 -56,4 138.4 150.20 53.80 96.40
-------------------------------------------------------------------------
KRD135 738894 1288947 269 -55,6 135.6 120.00 39.00 81.00
-------------------------------------------------------------------------
RRL_KDH18 738977 1288915 268 -45,0 127.0 247.00 0.00 247.00
-------------------------------------------------------------------------
RRL_KDH22 738748 1288995 269 -45,0 130.0 213.50 0.00 213.50
-------------------------------------------------------------------------
RRL_KDH07 738886 1288876 270 -45,0 130.0 109.00 0.00 109.00
-------------------------------------------------------------------------
KRD133 738716 1288918 269 -56,2 133.4 101.10 38.90 62.20
-------------------------------------------------------------------------
KRD137 738811 1288823 268 -56,3 135.2 120.00 48.20 71.80
-------------------------------------------------------------------------
KRD114 738421 1288848 272 -55,0 135.0 140.00 31.00 109.00
-------------------------------------------------------------------------
KRD115 738728 1288540 274 -55,0 135.0 115.00 78.00 37.00
-------------------------------------------------------------------------
KRD116 738543 1288726 272 -55,0 135.0 87.00 60.00 27.00
-------------------------------------------------------------------------
KRD117 738571 1288698 273 -60,0 135.0 115.00 42.00 73.00
-------------------------------------------------------------------------
KRD118 738639 1288630 274 -55,0 135.0 165.00 62.88 102.12
-------------------------------------------------------------------------
KRD119 738605 1288664 273 -60,0 135.0 115.00 42.00 73.00
-------------------------------------------------------------------------
KDH44 738471 1288798 272 -55,0 135.0 182.14 0.00 182.14
-------------------------------------------------------------------------
RRL_KDH23 738643 1288589 275 -45,0 120.0 152.00 0.00 152.00
-------------------------------------------------------------------------
KRD103 738380 1288542 275 -57,0 315.0 137.80 60.00 77.80
-------------------------------------------------------------------------
KRD109 738418 1288504 275 -55,0 135.0 95.58 60.00 35.58
-------------------------------------------------------------------------
KRD110 738570 1288352 275 -55,0 135.0 95.00 77.00 18.00
-------------------------------------------------------------------------
KRD111 738537 1288385 275 -55,0 135.0 93.00 69.00 24.00
-------------------------------------------------------------------------
KRD112 738499 1288424 275 -55,0 135.0 105.00 48.00 57.00
-------------------------------------------------------------------------
KRD113 738455 1288468 275 -55,0 135.0 120.70 75.00 45.70
-------------------------------------------------------------------------
KRD140 738307 1288664 273 -56,3 84.9 120.00 51.15 68.85
-------------------------------------------------------------------------
KRD141 738307 1288715 274 -55,5 87.3 120.00 60.00 60.00
-------------------------------------------------------------------------
KDH48 738300 1288450 275 -55,0 90.0 140.00 0.00 140.00
-------------------------------------------------------------------------
KDH47 738281 1288301 276 -55,0 90.0 123.20 0.00 123.20
-------------------------------------------------------------------------
KRD136 738246 1288112 272 -55,1 85.0 101.53 44.80 56.73
-------------------------------------------------------------------------
RRL_KRC02 738308 1288614 274 -45,0 135.0 110.00 110.00 0.00
-------------------------------------------------------------------------
KDH45 738372 1288751 273 -55,0 131.0 194.05 0.00 194.05
-------------------------------------------------------------------------
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.
%SEDAR: 00026749E