Volta Reports More Drill Intersections Exceeding 200 Meters Notably, 208.0m @ 1.64 g/t Gold, Including 55.7m @ 2.79 g/t Gold and 216.4m @ 1.26 g/t Gold, Including 20.6m @ 2.30 g/t Gold
TORONTO, February 22, 2011 /PRNewswire/ --
- TSX: VTR
Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the drill results from the next completed section from its on-going drilling program comprising more than 250 holes for approximately 50,000 meters in the Central Area at its Kiaka Gold Project in Burkina Faso (see News Release of 22 September 2010).
Results have been received to date for 11 holes located on Sections 5425N (8 holes) and 5450N (3 holes, See Figure 1), respectively 25m and 50m northeast of previous released section 5400N (see News Release of January 20th). These holes were aimed to infill the main deposit defined so far in the Central Area to 25m x 50m drill spacing and to extend the drilling depth down another 100 vertical meters. The highlights from these two sections include:
- KDH169: 189.00m @ 1.24g/t Au, incl. 29.00m @ 1.76g/t Au
- KDH170: 216.40m @ 1.26g/t Au, incl. 20.60m @ 2.30g/t Au
- KDH174: 44.90m @ 1.18g/t Au, incl. 7.95m @ 2.50g/t Au
- KDH180: 139.00m @ 0.87g/t Au, incl. 10.00m @ 2.00g/t Au
- KDH183: 30.60m @ 1.63g/t Au, incl. 11.00m @ 2.45g/t Au
- KDH185: 47.70m @ 1.03g/t Au, incl. 19.00m @ 1.73g/t Au
- KDH187: 312.75m @ 0.87g/t Au, incl. 19.00m @ 1.74g/t Au
- KDH181: 208.00m @ 1.64g/t Au, incl. 55.70m @ 2.79g/t Au
Kevin Bullock, Volta's CEO, said, "In addition to the prodigious widths seen in these holes, they also demonstrate that Kiaka's mineralization extends much deeper than our initial goal of 300 metres. Last year we established that Kiaka is on a path towards a development decision. This year we are establishing that the project is exceeding our expectations. Our next step is an updated resource estimate that we expect to be completed by the end of Q2 this year."
KDH169 and KDH187 both ended in mineralization. Despite this, KDH169 has now extended the Kiaka Main Zone (KMZ) to a vertical depth of 393m below surface. In addition, KDH181 has intersected and confirmed extensive mineralization in the KMZ up to the vertical depth of 440m on section 5450N.
In addition, KDH187 on section 5425N and especially KDH181 on section 5450N, indicate that the contact of the KMZ and KFZ extends further to the southeast. The same was seen with KDH158 on section 5325N and KDH164 on section 5375N, (see News Releases of January 6th and January 20th). This suggests that mineralization is wider on these sections than previously thought.
KDH169 and KDH170 on section 5425N and KDH175 on section 5450N have extended the width of the Kiaka Hanging Wall Zone (KHZ) and confirmed that the KHZ is composed of multiple parallel mineralized zones (shears), ranging from a few meters to over 20m in width.
Results for the holes are highlighted in Table 1 and in Figures 2 and 3. 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 for Sections 5425N and 5450N
SECTION BHID FROM TO INTERVAL Au g/t COMMENTS/REMARKS
5425N KDH169 88.90 109.70 20.80 0.92
AND 186.00 190.00 4.00 1.14
AND 224.00 235.00 11.00 1.39
INCL 225.00 234.00 9.00 1.62
AND 241.95 257.00 15.05 0.67
INCL 241.95 248.00 6.05 1.25
AND 267.00 271.00 4.00 1.31
AND 279.00 468.00 189.00 1.24
INCL 302.00 307.00 5.00 2.02
INCL 310.00 339.00 29.00 1.76
INCL 343.00 363.00 20.00 1.60
INCL 368.00 429.00 61.00 1.56
INCL 432.00 443.00 11.00 1.17
AND 476.00 490.40 14.40 0.55 ENDED IN MINERALIZATION
INCL 480.00 484.00 4.00 1.04
KDH170 27.50 56.20 28.70 0.77
INCL 27.50 37.00 9.50 1.66
AND 101.00 122.00 21.00 0.51
AND 133.00 182.00 49.00 0.80
INCL 134.00 139.00 5.00 1.44
INCL 154.00 157.00 3.00 1.01
INCL 160.00 166.00 6.00 1.31
AND 192.00 205.00 13.00 0.72
INCL 202.00 205.00 3.00 1.06
AND 213.80 430.20 216.40 1.26 ENDED IN MINERALIZATION
INCL 213.80 220.00 6.20 1.11
INCL 227.00 236.00 9.00 1.11
INCL 241.00 252.00 11.00 1.71
INCL 270.00 290.60 20.60 2.30
INCL 296.00 315.00 19.00 1.86
INCL 318.00 355.00 37.00 1.61
INCL 357.80 375.00 17.20 1.60
INCL 379.00 385.80 6.80 1.30
INCL 391.00 401.00 10.00 1.01
INCL 422.00 426.00 4.00 2.32
KDH174 47.00 100.00 53.00 0.79
INCL 55.00 58.00 3.00 2.49
INCL 63.00 68.00 5.00 1.25
INCL 82.00 90.00 8.00 1.33
INCL 92.75 97.10 4.35 1.19
AND 107.10 152.00 44.90 1.18
INCL 107.10 113.00 5.90 1.24
INCL 118.00 125.95 7.95 2.50
INCL 133.00 152.00 19.00 1.16
KDH179 1.50 164.00 162.50 0.63
INCL 32.00 35.00 3.00 1.37
INCL 41.00 54.85 13.85 1.54
INCL 65.00 77.00 12.00 1.09
INCL 132.00 150.00 18.00 1.13
KDH180 1.60 14.00 12.40 2.20 2.60 - 3.15m = 42.1g/t
AND 21.00 43.00 22.00 0.90
INCL 24.00 28.00 4.00 1.62
INCL 32.00 36.00 4.00 1.47
AND 71.00 90.00 19.00 0.85
INCL 72.00 75.00 3.00 1.70
AND 112.00 251.00 139.00 0.87
INCL 134.00 138.00 4.00 0.96
INCL 142.85 147.00 4.15 2.02
INCL 152.00 163.85 11.85 1.26
INCL 175.00 185.00 10.00 2.00
INCL 204.00 232.00 28.00 1.16
AND 265.00 268.00 3.00 1.52
KDH183 2.50 32.00 29.50 1.05
INCL 18.00 21.00 3.00 2.41
INCL 27.35 32.00 4.65 2.14
AND 109.00 117.95 8.95 3.88 117.0 - 117.95m : 31.35g/t
AND 125.40 156.00 30.60 1.63
INCL 125.40 136.60 11.20 1.73
INCL 140.00 151.00 11.00 2.45
AND 198.00 238.25 40.25 0.89 225.0 - 226.0 : 15.25g/t
KRD185 50.00 74.00 24.00 0.50
AND 106.30 112.00 5.70 1.48
AND 135.00 194.00 59.00 0.97
INCL 138.00 147.00 9.00 1.23
INCL 152.00 159.00 7.00 2.26
INCL 162.00 165.00 3.00 2.74
INCL 173.20 180.00 6.80 1.25
AND 212.90 255.00 42.10 0.77
INCL 212.90 223.00 10.10 1.00
AND 303.30 351.00 47.70 1.03
INCL 303.30 308.00 4.70 1.48
INCL 314.00 333.00 19.00 1.73
KDH187 3.20 71.00 67.80 0.71
INCL 47.50 58.00 10.50 1.99
AND 97.00 113.00 16.00 1.09
INCL 97.00 101.00 4.00 1.64
INCL 104.00 108.00 4.00 1.76
AND 120.40 433.15 312.75 0.87 ENDED IN MINERALIZATION
INCL 121.00 128.00 7.00 1.38
INCL 134.00 139.00 5.00 1.12
INCL 147.00 153.00 6.00 1.17
INCL 171.00 181.00 10.00 1.35
INCL 198.00 205.00 7.00 1.30
INCL 245.80 264.00 18.20 1.60
INCL 285.00 288.00 3.00 1.04
INCL 315.00 330.00 15.00 1.68
INCL 334.00 343.00 9.00 1.40
INCL 352.00 361.00 9.00 1.60
INCL 364.00 377.00 13.00 1.29
INCL 397.00 406.00 9.00 1.63
INCL 412.00 431.00 19.00 1.74 419.0 - 420.0 : 13.2g/t
5450N KDH175 141.00 190.00 49.00 0.67
INCL 166.00 175.00 9.00 1.02
KDH177 11.00 24.50 13.50 0.61
AND 38.00 45.50 7.50 1.11
INCL 38.00 43.00 5.00 1.37
AND 99.00 111.00 12.00 0.54
INCL 100.00 103.00 3.00 1.30
AND 121.00 197.85 76.85 0.67
INCL 164.00 168.00 4.00 1.14
INCL 193.00 197.85 4.85 2.37
KDH181 13.00 35.00 22.00 0.96
INCL 13.00 25.00 12.00 1.44
AND 49.00 56.00 7.00 1.41
AND 121.00 206.00 85.00 0.67
INCL 139.00 144.95 5.95 1.08
INCL 161.00 164.00 3.00 1.52
INCL 167.00 176.00 9.00 1.13
INCL 196.00 206.00 10.00 1.25
AND 228.00 263.00 35.00 0.76
INCL 248.00 263.00 15.00 1.09
AND 274.00 292.00 18.00 0.51
AND 311.00 519.00 208.00 1.64
INCL 313.00 318.00 5.00 1.10
INCL 321.00 328.00 7.00 1.19
INCL 334.00 389.00 55.00 1.55
INCL 392.00 411.00 19.00 1.78
INCL 414.00 422.00 8.00 1.23
INCL 446.0 - 447.0m : 36.7gt/t;
456.0 - 457.0m : 13.25g/t;
426.00 481.70 55.70 2.79 463.0 - 464.0m : 18.45g/t
INCL 496.60 501.00 4.40 1.14
INCL 508.00 513.00 5.00 3.19 510.0 - 511.1m : 11.15g/t
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, except for holes KDH179, KDH183 and KRD185 where it has been increased to 6m and for KDH187, increased to 6.5m. 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 1m 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.
TABLE 2: Borehole collar coordinates and orientation parameters for Sections 5425N and 5450N
SECTION Hole Easting Northing Elevation Depth Dip Azimuth RC DD
ID
(m) (m) (degrees)(degrees) (m) (m)
5425N KDH169 739262 1289603 271 490.40 -60 135 - 90.40
KDH170 739297 1289568 270 430.20 -60 135 - 30.20
KDH174 739404 1289464 268 205.60 -55 135 - 205.60
KDH179 739440 1289429 267 166.50 -55 135 - 166.50
KDH180 739369 1289498 269 270.95 -60 135 - 270.95
KDH183 739441 1289430 267 242.12 -58 315 - 242.12
KRD185 739333 1289533 269 357.25 -60 135 33.00 324.25
KDH187 739511 1289358 265 433.15 -60 315 - 433.15
5450N KDH175 739245 1289659 272 202.00 -55 135 - 202.00
KDH177 739384 1289516 269 200.55 -55 315 - 200.55
KDH181 739562 1289340 264 525.80 -60 315 - 525.80
Figures 1, 2 and 3 can be viewed at
http://files.newswire.ca/407/Kiaka.pdf
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.
For further information, please refer to our website
http://www.voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Tel: +1-647-388-1842
Fax: +1-416-867-2298
Email: kbullock@voltaresources.com
or
Andreas Curkovic, Investor Relations
+1-416-577-9927
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