| ||May 07, 2008|
Volta Resources Commences Phase Two Core Drilling Program At Its Gaoua Copper-Gold Project, Burkina Faso
| ||May 07, 2008 - Volta Resources Inc. ("Volta" or the "Company") (TSX:VTR) is pleased to announce that it has commenced the second phase of surface diamond drilling on its Gaoua copper-gold porphyry project in southern Burkina Faso. |
The drill program will comprise a minimum of 10,000 metres ("m") and is expected to be completed by September 2008. Results from the drilling will be announced as they are received. A diamond drill rig has been mobilized to the site and commenced drilling on April 11, 2008.
The Company is following up on the results of last year's drilling, geophysics and related field work (see Goldcrest Resources' news release dated January 4, 2008). The first round of core drilling, completed in October 2007, confirmed the presence of highly anomalous copper-gold mineralization hosted by brecciated diorite and hydrothermal breccia, which show porphyry copper characteristics in three target areas. The target areas are Gongondy on the Company's Souhouera permit and Dienemera and Mont Biri on the Malba permit (see Figure 1). In addition, geological mapping and soil sampling further confirmed the presence of hydrothermal alteration and anomalous copper-gold mineralization consistent with copper porphyry systems between and beyond the aforementioned target areas in a prospective structural corridor that is greater than 30 kilometres long.
The program aims at further delineating the mineralization identified during the first program with a view to completing a NI 43-101 resource calculation by the end of 2008. In-fill and step-out drill holes are planned to attempt upgrading and expanding the Gongondy and Dienemera porphyry deposits.
The planned drill program will also test for concealed porphyry-style copper mineralization between the target areas and to expand the mineralization identified at Mont Biri. The Company is currently completing a 30km² gradient array induced polarization ("IP") survey between Gongondy and Dienemera-Mont Biri on a 200m x 25m and 300m x 25m grid. This ground geophysical survey has been designed to support the detailed geological mapping and soil geochemistry conducted in 2007, which defined a number of larger, copper-gold anomalous areas that warrant further investigation within the prospective structural corridor. The results from this program will be used to assist in the definition of additional new drill targets.
Under the guidelines of National Instrument 43-101, the qualified person for the Gaoua 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.
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 www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Tel: (647) 388-1842
Fax: (416) 867-2298
Investor Relations: Vancouver
Tel: (604) 731-7340
Investor Relations: Toronto
Tel: (905) 337-7673
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Click to Enlarge
You can view the Next News Releases item: Wed Jun 11, 2008, Volta Resources Acquires Two New Gold Exploration Permits In Burkina Faso, West Africa
You can view the Previous News Releases item: Mon May 5, 2008, Aircore Drilling At Volta's Cluster Property In Ghana Extends Gold Mineralization At The Chert Ridge Project
You can return to the main News Releases page, or press the Back button on your browser.