Volta Reports More Wide High-Grade Intercepts at its Kiaka Gold Project in Burkina Faso
TORONTO, March 14, 2012 /PRNewswire/ --
TSX: VTR
- Intersects 219.0m @ 1.65g/t Gold, including 8.65m @ 6.14g/t Gold.
Also 154.0m @ 1.31g/t Gold, including 18.3m @ 2.51g/t Gold
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces the results from the last six core drill holes from the Phase 3 program at its Kiaka Gold Project in Burkina Faso. Phase 3 comprised 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).
The reported holes, comprising a total of 3,837.26m, were drilled across the central and southern parts of the Kiaka Main Zone (KMZ) orebody. They aimed at extending the resources at depth. All holes, except KDH338 (oriented N315°E), were oriented N135°E and drilled with an inclination of -60°.
All the holes clearly confirm the continuity of wide mineralization at depth, often exceeding 1.0g/t Au over considerable widths. These holes have extended the mineralization in the Central Area to vertical depths ranging between 425m and 500m. These holes complete Phase 3 drilling for the Kiaka Central Area and will now be included with the rest of the results in updating the current NI43-101 resource currently being finalised by SRK Consulting UK (Cardiff).
The highlights from the reported drillholes include :
KDH338 : 217.20m @ 1.07g/t Au, including 7.00m @ 3.07g/t Au.
KDH339 : 17.00m @ 1.35g/t Au, including 3.05m @ 1.65g/t Au AND
KDH339 : 219.00m @ 1.65g/t Au, including 8.65m @ 6.14g/t Au and 17.00m @
4.81g/t Au.
KDH341 : 29.25m @ 1.37g/t Au, including 5.00m @ 5.56g/t Au AND
KDH341 : 59.80m @ 1.02g/t Au, including 4.40m @ 5.60g/t Au AND
KDH341 : 118.00m @ 0.76g/t Au, including 23.50m @ 1.69g/t Au.
KDH343 : 104.00m @1.12g/t Au, including 6.00m @ 6.84g/t Au AND
KDH343 : 154.00m @ 1.31g/t Au, including 18.30m @ 2.51g/t Au.
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 TO INTERVAL Au COMMENTS
(m) (m) (m) (g/t)
5150N KDH327 234.00 244.95 10.95 0.78
AND 266.00 282.00 16.00 0.86
INCL 266.00 270.00 4.00 1.51
INCL 275.00 278.00 3.00 1.54
AND 298.00 405.00 107.00 0.63
INCL 327.00 332.00 5.00 2.23
AND 428.00 439.00 11.00 1.57
INCL 429.00 436.00 7.00 2.19
AND 445.00 461.50 16.50 0.79
INCL 450.00 456.00 6.00 1.49
463.0-464.0m=10.85g/t;
5350N KDH338 313.80 531.00 217.20 1.07 518.35-519.00m=35.9g/t
INCL 324.00 327.00 3.00 1.53
INCL 343.00 355.00 12.00 1.04
INCL 368.00 388.00 20.00 1.25
INCL 394.30 398.70 4.40 1.93
INCL 403.35 412.15 8.80 1.43
INCL 416.00 425.00 9.00 1.27
INCL 428.40 432.00 3.60 1.30
INCL 443.00 458.00 15.00 1.26
INCL 461.00 468.00 7.00 3.07
INCL 472.00 481.00 9.00 1.75
INCL 485.00 494.00 9.00 1.24
AND 593.00 596.00 3.00 1.24
5300N KDH339 305.00 322.00 17.00 1.35 319.0-320.0m=16.55g/t Au
INCL 316.95 320.00 3.05 5.92
AND 350.00 569.00 219.00 1.65 393.35-394.00m=31.3g/t Au
INCL 359.00 390.00 31.00 2.00
INCL 392.35 401.00 8.65 6.14 395.00-396.00m=23.00g/t Au
INCL 409.00 417.00 8.00 2.05
INCL 424.00 429.15 5.15 1.12
INCL 435.00 443.00 8.00 1.83
INCL 445.00 462.00 17.00 4.81 441.00-462.00m=21.00g/t Au
INCL 464.20 471.00 6.80 1.38
INCL 488.00 492.00 4.00 1.13
INCL 497.00 505.00 8.00 1.90
INCL 509.00 525.20 16.20 2.70
INCL 543.00 558.00 15.00 1.06
AND 579.00 599.00 20.00 0.54
5375N KDH340 259.00 289.00 30.00 0.52
AND 303.00 324.00 21.00 0.66
INCL 303.00 308.00 5.00 1.66
AND 402.00 411.00 9.00 1.28
INCL 402.00 405.00 3.00 2.17
AND 456.00 475.00 19.00 0.66
AND 490.00 508.00 18.00 0.99
INCL 492.00 499.00 7.00 1.01
INCL 502.00 508.00 6.00 1.44
AND 514.00 554.00 40.00 0.72
INCL 540.00 544.00 4.00 1.95
INCL 549.00 553.00 4.00 1.30
AND 583.00 638.15 55.15 0.76
INCL 604.00 608.20 4.20 2.77
INCL 612.00 615.00 3.00 2.82
5425N KDH341 212.00 241.25 29.25 1.37
INCL 225.00 230.00 5.00 5.56
AND 268.00 274.00 6.00 1.52
AND 280.70 284.00 3.30 1.26
AND 292.30 331.60 39.30 0.76
INCL 297.00 307.00 10.00 1.48
INCL 328.00 331.60 3.60 1.24
AND 383.00 410.45 27.45 0.90
INCL 394.00 397.00 3.00 3.60
AND 459.00 518.80 59.80 1.02 488.90-489.40m=42.4g/t Au
INCL 485.00 489.40 4.40 5.60
INCL 503.00 509.00 6.00 1.22
AND 535.00 653.00 118.00 0.76
INCL 554.00 559.00 5.00 1.37
INCL 562.00 568.00 6.00 1.21
INCL 578.50 602.00 23.50 1.69
INCL 606.00 610.00 4.00 1.09
5325N KDH343 149.00 177.00 28.00 0.60
245.00246.00m=35.80g/t Au;
AND 227.00 331.00 104.00 1.12 259.00-260.00m=10.30g/t Au
INCL 245.00 251.00 6.00 6.84
INCL 315.00 318.00 3.00 3.43
AND 438.00 592.00 154.00 1.31 569.00-570.00m=14.40g/t Au
INCL 443.00 470.00 27.00 1.38
INCL 481.00 493.00 12.00 1.04
INCL 495.00 500.00 5.00 1.36
INCL 506.20 515.00 8.80 2.22
INCL 519.00 532.00 13.00 2.53
INCL 553.70 572.00 18.30 2.51
AND 606.30 637.85 31.55 0.67
INCL 614.00 620.00 6.00 1.39
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 envelope, except for hole KDH339 (305.0-322.0m and 350.0-569.0m) where it has been increased to 5.35m and for holes KDH341 (535.0-653.0m) and KDH343 (149.0-177.0m and 438.0-592.0m) 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 cored drill holes were usually 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 HoleID Easting Northing Elevation Depth Dip Azimuth
(m) (m) (degrees) (degrees)
5150N KDH327 739066 1289410 270.26 532.80 -60 135
5300N KDH339 739139 1289553 274.40 601.35 -60 135
5325N KDH343 739122 1289607 278.39 699.83 -60 135
5350N KDH338 739525 1289233 263.41 601.40 -60 315
5375N KDH340 739153 1289639 278.24 701.75 -60 135
5425N KDH341 739191 1289676 277.36 700.13 -60 135
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 reported drillholes.". PDF available at: http://stream1.newswire.ca/media/2012/03/14/20120314_C4229_DOC_EN_11098.pdf
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
Tel: +1(416)-577-9927
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