 |
|
|
|
| | April 02, 2009
3D Processing Of Airborne Magnetic Data Identifies Additional Copper-Gold Porphyry Targets At The Gaoua Project
|
| |
Toronto, ON -- April 2, 2009 - Volta Resources Inc. ("Volta" or the "Company") (TSX:VTR) is pleased to announce that 30 copper-gold porphyry targets have been highlighted from three dimensional ("3D") processing and interpretation of high resolution airborne magnetic data recently obtained on the Company's Gaoua copper-gold porphyry project in southern Burkina Faso, West Africa..
A high-resolution helicopter-borne magnetic and radiometric survey was completed by New Resolution Geophysics of South Africa ("NRG") in the third quarter of 2008. The survey covered 634km², covering most of the Gaoua project area. The area was flown at low altitude, along east-west oriented flight lines spaced 100 metres apart, with regular tie-lines.
The Company subsequently engaged Carl O. Windels, Consulting Geophysicist from Arvada, Colorado, to undertake 3D processing of the newly acquired airborne magnetic data with a view to fingerprint known copper-gold porphyry mineralization on the Gaoua Project as well as define potentially new, yet similar targets. A FastMag3D visualization Techbase Block Model was produced utilizing 3D inversion software obtained from the Geophysical Inversion Facility at the University of British Columbia. The model was then examined using a 3D viewer for recognizable patterns related to contacts, structures and intrusive stocks usually associated with porphyry deposits. Targets were then generated by interpreting regional trends utilizing:
- FastMag3D block model, sliced at 150m below surface (Figure 1), used
to infer offsets from linear magnetic contacts
- Anomalous radiometric signatures based on thorium/potassium ratios
related to mineralizing fluids, used to infer dilation zones (Figure 2)
- Near Surface RTP regional reduced to pole data (Figure 3) and Deep Seated
regional RTP reduced to pole data (figure 4) to target areas in proximity
to known mineralization and interpreted deep seated magnetic features.
A total of 30 targets, including the known mineralization at Gongondy, Dienemera, Mont Biri and Boussera, have been identified for follow-up geochemical sampling and/or shallow auger drilling where transported cover may have masked the surface expression of the mineralization.
The value of this data processing methodology has been clearly demonstrated and therefore warrants further detailed 3D inversion block models, using the same data over selected target areas. The highest priority for this work is along the 6 kilometer gap between the Dienemera and Gongondy deposits, which have an initial NI43-101 compliant Inferred Resource of 82,600,000 tonnes grading 0.40% copper and 0.40 g/t gold for a total of 724,880,000 lbs of copper and 1,072,900 ounces of gold (using a 0.45% copper equivalent ("CuEQ") cut off grade)*.
Under the guidelines of National Instrument 43-101, the qualified person for the Gaoua copper-gold project is Mr. Guy Franceschi, Vice President, Exploration for the Company. 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 the leader in the identification, acquisition and exploration of gold properties in West Africa. The Company is committed to West African exploration and is Canadian-based with its head office in Toronto, Ontario and operations offices in Accra, Ghana and Ouagadougou, Burkina Faso.
* CuEQ has been calculated from assumed revenues of USD 3,000 per tonne of copper and USD 700 per ounce of gold with metallurgical recovery assumed to be 85% and 70% respectively based on initial QEMSCAN results. Gold grade has been multiplied by 0.6 and added to the copper grade to provide CuEQ grade. The cut off grade further assumes typical costs of USD 2 per tonne for mining and USD 10 per tonne for processing and general administration costs (See Volta's "Mineral Resource Estimation For The Gaoua Project, Burkina Faso" NI 43-101 Technical Report on SEDAR dated March 23, 2009).
For further information, please refer to our website www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Tel: (416) 867-2299
Fax: (416) 867-2298
Email: kbullock@voltaresources.com
Investor Relations: Vancouver
Farah Alibhai
Tel: (604) 731-7340
Email: falibhai@voltaresources.com
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy 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.
|
| |
|
|
