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| | June 10, 2010
Volta Extends Gold Mineralization Further South At Its Kiaka Gold Project - Intersects 82.0m at 1.12g/t Gold, Including 42.1Meters at 1.54g/t Gold
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| | - Also 35.6m @ 1.13g/t gold including 5.0m @ 4.77g/t gold --
Toronto, ON -- June 10th 2010 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the drill results from the next completed sections at its Kiaka Gold Project, located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. To date, 113 holes (17,517meters) have been drilled, thereby completing the planned infill and extension drilling to be used to define a NI43-101 compliant resource at the Central Area at Kiaka.
So far results have been received for 108 holes from this area with the remainder expected soon. This news release covers the latest 14 holes, four of which are located on Section 5000N, seven on Section 5100N and three on Section 5900N, (See Figure 1). In addition four Randgold holes (labeled hereafter RRL) have been re-assayed on these sections. The highlights from these sections include:
- KRD84 : 76.0m @ 0.82g/t Au, including 17.0m @ 1.38g/t Au
- KDH90 : 11.0m @ 1.11g/t Au, including 4.0m @ 2.62g/t Au, AND
- KDH90 : 49.0m @ 0.87g/t Au, including 4.0m @ 1.62g/t Au.
- RRL_KDH11 : 71.0m @ 0.77g/t Au, including 4.0m @ 1.68g/t Au
- RRL_KRC11 : 134.0m @ 0.77g/t Au
- KRD80 : 46.4m @ 1.16g/t Au AND
- KRD80 : 35.6m @ 1.13g/t Au, including 5.0m @ 4.77g/t Au.
- KRD82 : 82.0m @ 1.12g/t Au, including 42.1m @ 1.54g/t Au
- KRD83 : 106.0m @ 0.95g/t Au, including 22.0m @ 1.88g/t Au, AND
- KRD83 : 51.7m @ 0.74g/t Au, including 4.0m @ 3.0g/t Au
- KDH70 : 29.0m @ 0.91g/t Au, including 9.0m @ 2.35g/t Au
Kevin Bullock, Volta's CEO, said, "As we complete our first drill campaign at Kiaka, we are pleased that it is concluding with the successful results we have seen throughout. We have strategically focused our drilling toward establishing our maiden resource however our drilling has also been productive in revealing future targets to further refine our soon to be established resource. With our strong cash position and our increased understanding of the deposit, we will be able to expeditiously advance Kiaka toward our ultimate production goal."
Sections 5000N and 5100N have extended the central mineralization a further 150m to the south. The holes on section 5900N have only intersected narrower and/or lower-grade mineralized intercepts. Structural interpretation of the data from the northern sections suggests that the KMZ mineralization may be displaced to the southeast across an easterly trending, north dipping fault. This would imply that the narrower mineralized intersections encountered in the holes drilled on Sections 5800N and 5900N so far are associated with the KHZ and KIZ zones. The company has recently completed drilling a hole on the eastern edge of Section 5750N in order to test this interpretation. Results are awaited.
To date, Volta's drill program has tested only the Central Area, comprising 900m strike extent of the 2,800m long KMZ zone. The program in-filled and extended drilling on the Central Area such that the KMZ zone is drilled to 50m x 50m spacing from surface to a 150m vertical depth and 100m x 50m from 150m to 200m vertical depth. Volta is on track to finalize a maiden National Instrument 43-101 ("NI43-101") compliant resource before the end of June 2010. It should be emphasized that this infill drilling is limited to a vertical depth of 200 meters, whereas previous in-house drilling and estimates by Randgold for the same area extended to a vertical depth of 300m. Consequently, the company is aiming to convert approximately two thirds of the Randgold in-house estimates to NI43-101 compliant resource categories during the current phase.
Results for the holes on sections 5000N, 5100N and 5900N are highlighted in Table 1 below and on the sections in the Figures 2 to 4. 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 from for Section 5000N, 5100N and 5900N
SECTION |
HOLE ID |
FROM |
TO |
INTERVAL |
GRADE |
COMMENTS |
|
|
m |
m |
m |
g/t Au |
|
5000N |
KDH81 |
236.00 |
314.00 |
78.00 |
0.64 |
|
|
Including |
253.00 |
268.00 |
15.00 |
1.05 |
|
|
Including |
272.00 |
281.00 |
9.00 |
1.05 |
|
|
KRD84 |
0.00 |
76.00 |
76.00 |
0.82 |
|
|
Including |
3.00 |
16.00 |
13.00 |
1.01 |
|
|
Including |
21.00 |
38.00 |
17.00 |
1.38 |
|
|
KDH90 |
14.00 |
25.00 |
11.00 |
1.11 |
|
|
Including |
14.00 |
18.00 |
4.00 |
2.62 |
|
|
AND |
49.00 |
98.00 |
49.00 |
0.87 |
|
|
Including |
69.00 |
73.00 |
4.00 |
1.24 |
|
|
Including |
92.00 |
96.00 |
4.00 |
1.62 |
|
|
AND |
118.70 |
165.00 |
46.30 |
0.64 |
|
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Including |
125.60 |
135.00 |
9.40 |
1.00 |
|
|
RRL-KDH11 |
138.00 |
150.00 |
12.00 |
0.60 |
Randgold hole |
|
Including |
143.00 |
147.00 |
4.00 |
1.06 |
|
|
AND |
203.00 |
274.00 |
71.00 |
0.77 |
|
|
Including |
217.00 |
221.00 |
4.00 |
1.68 |
|
|
Including |
224.00 |
237.00 |
13.00 |
0.99 |
|
|
Including |
240.00 |
247.00 |
7.00 |
1.43 |
|
|
RRL_KRC11 |
21.00 |
155.00 |
134.00 |
0.77 |
Randgold hole |
|
Including |
70.00 |
102.00 |
32.00 |
1.08 |
Ended in mineralization |
|
Including |
106.00 |
121.00 |
15.00 |
1.09 |
|
|
Including |
127.00 |
130.00 |
3.00 |
1.14 |
|
|
Including |
135.00 |
143.00 |
8.00 |
1.37 |
|
5100N |
KDH79 |
80.00 |
129.00 |
49.00 |
0.94 |
MID increased to 6m |
|
Including |
80.00 |
89.00 |
9.00 |
1.40 |
|
|
Including |
95.20 |
101.00 |
5.80 |
3.71 |
|
|
AND |
156.00 |
238.00 |
82.00 |
0.71 |
|
|
Including |
175.00 |
181.00 |
6.00 |
1.33 |
|
|
Including |
185.00 |
204.00 |
19.00 |
1.41 |
|
|
AND |
263.10 |
283.00 |
19.90 |
0.83 |
|
|
Including |
268.00 |
274.00 |
6.00 |
1.07 |
|
|
Including |
277.90 |
283.00 |
5.10 |
1.46 |
|
|
KRD80 |
0.00 |
46.40 |
46.40 |
1.16 |
|
|
Including |
1.40 |
33.40 |
32.00 |
1.47 |
|
|
AND |
61.40 |
97.00 |
35.60 |
1.13 |
|
|
Including |
83.00 |
88.00 |
5.00 |
4.77 |
|
|
AND |
104.00 |
149.20 |
45.20 |
0.90 |
|
|
Including |
104.00 |
119.20 |
15.20 |
1.02 |
|
|
Including |
122.60 |
133.00 |
10.40 |
1.16 |
|
|
KRD82 |
0.00 |
82.00 |
82.00 |
1.12 |
|
|
Including |
1.00 |
12.00 |
11.00 |
1.34 |
|
|
Including |
16.00 |
58.10 |
42.10 |
1.54 |
|
|
KKRC43 |
0.00 |
39.00 |
39.00 |
0.79 |
|
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Including |
18.00 |
22.00 |
4.00 |
2.39 |
|
|
KDH77 |
21.00 |
33.00 |
12.00 |
0.93 |
|
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Including |
23.00 |
33.00 |
10.00 |
1.07 |
|
|
AND |
42.00 |
94.00 |
52.00 |
0.54 |
|
|
AND |
122.00 |
132.00 |
10.00 |
1.41 |
|
|
AND |
142.00 |
167.00 |
25.00 |
0.51 |
|
|
AND |
203.00 |
237.00 |
34.00 |
0.69 |
|
Including |
204.00 |
213.00 |
9.00 |
1.33 |
|
KRD83 |
0.00 |
106.00 |
106.00 |
0.95 |
|
Including |
1.00 |
23.00 |
22.00 |
1.88 |
|
Including |
28.00 |
41.00 |
13.00 |
1.20 |
|
Including |
47.00 |
52.00 |
5.00 |
1.61 |
|
Including |
59.00 |
62.00 |
3.00 |
1.09 |
|
Including |
67.10 |
71.00 |
3.90 |
1.66 |
|
Including |
76.00 |
80.00 |
4.00 |
1.10 |
|
Including |
87.00 |
91.00 |
4.00 |
1.04 |
|
AND |
113.00 |
164.70 |
51.70 |
0.74 |
|
Including |
136.15 |
140.00 |
3.85 |
1.24 |
|
Including |
156.00 |
160.00 |
4.00 |
3.00 |
|
5900N |
KDH70 |
104.00 |
133.00 |
29.00 |
0.91 |
|
|
Including |
112.00 |
121.00 |
9.00 |
2.35 |
|
|
KRD72 |
47.00 |
53.00 |
6.00 |
1.00 |
|
|
RRL_KDH24 |
115.00 |
150.00 |
35.00 |
0.58 |
Randgold hole |
|
Including |
129.00 |
132.00 |
3.00 |
1.67 |
MID increased to 6m |
|
AND |
200.00 |
212.00 |
12.00 |
2.18 |
|
|
AND |
232.00 |
253.00 |
21.00 |
0.57 |
|
|
Including |
241.00 |
244.00 |
3.00 |
1.32 |
|
|
AND |
342.00 |
348.00 |
6.00 |
0.99 |
|
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 (increased to 6m in KDH79 and in RRL_KDH24).
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 Tables 3 and 4).
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 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.
9) For the listed Randgold holes the re-assay values have been used. Re-assays were performed on pulps or rejects of previously assayed samples in exactly the same manner as for the Volta samples. Where, occasionally, no re-assays were available, the Randgold assay values have been used. The Randgold assay results are considered to be reliable and acceptable.
TABLE 2: Borehole collar coordinates and orientation parameters for Section 5000N, 5100N and 5900N
Section |
Hole ID |
Easting |
Northing |
Elevation |
Depth |
Azimuth |
Dip |
RC |
DD |
|
|
|
|
(m) |
(m) |
(degrees) |
(degrees) |
(m) |
(m) |
5000N |
RRL_KDH02 |
738,939 |
1,289,272 |
269.00 |
175.50 |
-45.00 |
125.00 |
0.00 |
175.50 |
|
RRL_KDH11 |
739,009 |
1,289,236 |
269.00 |
325.00 |
-45.00 |
130.00 |
0.00 |
325.00 |
|
KDH81 |
739,020 |
1,289,246 |
269.00 |
315.00 |
-55.00 |
135.00 |
0.00 |
315.00 |
|
KDH90 |
739,174 |
1,289,090 |
266.00 |
273.40 |
-56.00 |
135.00 |
0.00 |
273.40 |
|
RRL_KRC11 |
739,080 |
1,289,181 |
266.00 |
155.00 |
-45.00 |
130.00 |
155.00 |
0.00 |
|
KRD66* |
738,961 |
1,289,303 |
270.00 |
63.00 |
-56.00 |
135.00 |
63.00 |
0.00 |
|
KRD84 |
739,122 |
1,289,144 |
267.00 |
100.20 |
-55.00 |
135.00 |
70.80 |
29.40 |
|
KDH77 |
739,236 |
1,289,170 |
266.00 |
270.23 |
-55.00 |
315.00 |
0.00 |
270.23 |
5100N
|
KDH79 |
739,102 |
1,289,304 |
269.00 |
285.36 |
-55.00 |
135.00 |
0.00 |
285.36 |
KKRC37 |
739,033 |
1,289,376 |
271.00 |
75.00 |
-56.00 |
135.00 |
75.00 |
0.00 |
KKRC43 |
739,198 |
1,289,211 |
267.00 |
90.00 |
-55.00 |
135.00 |
90.00 |
0.00 |
KRD80 |
739,138 |
1,289,269 |
269.00 |
210.10 |
-55.00 |
135.00 |
72.40 |
137.70 |
KRD82 |
739,175 |
1,289,234 |
267.00 |
140.14 |
-55.00 |
135.00 |
44.00 |
96.14 |
KRD83 |
739,198 |
1,289,211 |
266.75 |
170.14 |
-55.00 |
315.00 |
51.2 |
118.94 |
5900N |
RRL_KDH24 |
739,642 |
1,289,866 |
273.00 |
395.50 |
-46.00 |
130.00 |
0.00 |
395.50 |
|
KDH70 |
739,707 |
1,289,837 |
272.00 |
225.00 |
-55.00 |
135.00 |
0.00 |
225.00 |
|
KKRC33 |
739,775 |
1,289,768 |
271.00 |
75.00 |
-57.00 |
135.00 |
75.00 |
0.00 |
|
KRD72 |
739,743 |
1,289,803 |
272.00 |
155.10 |
-56.00 |
135.00 |
66.00 |
89.10 |
* KRD66 is an uncompleted hole
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.
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
Email: kbullock@voltaresources.com
Andreas Curkovic, Investor Relations
416-577-9927
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.
Figure 1:
Figure 2:
Figure 3:
Figure 4:
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