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| | June 22, 2010
Volta Completes Its In-fill and Extension Drilling Program at Its Kiaka Gold Project Intersects 54.0m at 3.16g/t Gold, Including 19.0m at 5.92g/t Gold
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| | - Also 179.25m @ 1.05g/t gold including 13.0m @ 2.68g/t gold -
Toronto, ON - June 22nd, 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.
To date all the results have been received, with this news release covering the latest holes, two of which are located on Section 4800N, two on Section 4900N, four on section 5050N, six on Section 5650N and four on Section 5750N (See Figure 1). In addition the recently received assay results of one hole located on formerly released section 5150N (see News release of June 3rd, 2010) has been added as well as six Randgold holes (labeled hereafter RRL) that have been re-assayed on these sections. The highlights from these sections include:
| • KRD91 : |
|
11.00m @ |
1.21 g/t Au, |
| • KRD89 : |
|
3.85m @ |
4.34 g/t Au |
| • KDH92 : |
|
40.80m @ |
0.97 g/t Au, including 18.10m @ 1.56 g/t Au AND |
| • KDH92 : |
|
135.10m @ |
0.69 g/t Au, including 21.65m @ 1.06 g/t Au |
| • KRD104 : |
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76.75m @ |
0.84 g/t Au, including 24.0m @ 1.63 g/t Au |
| • KRD106 : |
|
54.0m @ |
3.16 g/t Au, including 19.0m @ 5.92 g/t Au
and 10.0m @ 4.43 g/t Au |
| • KRD68 : |
|
33.00m @ |
1.02 g/t Au, including 9.0m @ 2.04 g/t Au |
| • RRL_KDH12: |
|
40.00m @ |
0.80 g/t Au, including 9.0m @ 1.10 g/t Au |
| • RRL_KDH17 : |
|
118.00m @ |
1.13 g/t Au, including 13.0m @ 2.39 g/t Au AND |
| • RRL_KDH17 : |
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52.00m @ |
1.48 g/t Au, including 36.0m @ 1.80 g/t Au |
| • KDH97 : |
|
179.25m @ |
1.05 g/t Au, including 14.7m @ 2.68 g/t Au |
| • KRD95 : |
|
53.25m @ |
0.85 g/t Au, |
| • KRD96 : |
|
7.00m @ |
1.47 g/t Au AND |
| • KRD96 : |
|
5.70m @ |
1.54 g/t Au |
| • RRL_KRC09 : |
|
13.00m @ |
0.94 g/t Au, including 7.0m @ 1.41 g/t Au |
Kevin Bullock, Volta's CEO, said, "We are very pleased to have concluded our first drill campaign at Kiaka. It's particularly satisfying to conclude with more than three grams over 54 meters - one of our best holes yet. We are on track to release our first resource estimate by the end of this month and then begin the next phase of Kiaka's development.
Section 5650N, an in-fill line between 5600N (see News Release of 21 April, 2010) and 5700N (see News Release of 30 April, 2010), confirmed the continuity along strike of the broad zone of mineralization as well as the higher grade portions intersected in the adjacent sections. The higher-grade portions can be related to a distinct alteration style and more intense deformation that can be traced from section to section.
Holes on Section 5050N continue to intersect the central mineralization, while hole KRD106 on section 5150N, returned outstanding wide and high-grade intercepts.
Sections 4900N and 4800N have tested the central mineralization a further 200m to the south of last released section (5000N, see News Release of 10 June, 2010). Mineralized intercepts, though locally high-grade, are narrow and indicate that the main orebody pinches out. Interpretation of the geophysical data (see News Release of 4 May, 2010) suggests that the mineralization may widen-up further south, along the same northeast trend as seen in the Central Area. The Company is currently drilling two extended sections across the interpreted position where the KMZ is thought to be widening in the South Area. Results are awaited and will be reported as soon as available.
The holes on section 5750N 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 (see also News Release of 3 and 10 June, 2010).
To date, Volta's drill program has tested only the Central Area, comprising 1,100m 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 4800N, 4900N, 5050N, 5150N, 5650N and 5750N 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 Sections 4800N, 4900N, 5050N, 5150N, 5650N and 5750N
| SECTION |
HOLE ID |
FROM |
TO |
INTERVAL |
GRADE |
COMMENTS |
| m |
m |
m |
g/t Au |
| 4800N |
KRD91 |
63.20 |
74.20 |
11.00 |
1.21 |
|
| AND |
111.20 |
121.15 |
9.95 |
0.54 |
|
| KKRC45 |
0.00 |
13.00 |
13.00 |
0.69 |
|
| Including |
6.00 |
13.00 |
7.00 |
0.99 |
|
| RRL-KDH06 |
174.00 |
192.00 |
18.00 |
0.67 |
Randgold drill hole |
| 4900N |
KRD89 |
25.00 |
46.00 |
21.00 |
0.55 |
|
| AND |
52.00 |
55.85 |
3.85 |
4.34 |
|
| AND |
129.00 |
140.10 |
11.10 |
0.58 |
halted in mineralization |
| 5050N |
KRD65 |
|
|
|
|
No significant values |
| KDH92 |
57.20 |
98.00 |
40.80 |
0.97 |
|
| Including |
70.00 |
88.10 |
18.10 |
1.56 |
|
| AND |
129.00 |
264.10 |
135.10 |
0.69 |
|
| Including |
185.00 |
193.00 |
8.00 |
1.49 |
|
| Including |
200.35 |
222.00 |
21.65 |
1.06 |
|
| Including |
225.00 |
233.00 |
8.00 |
1.20 |
|
| RRL_KDH12 |
46.00 |
127.00 |
81.00 |
0.65 |
Randgold drill hole |
| Including |
46.00 |
53.00 |
7.00 |
1.48 |
|
| Including |
63.00 |
66.00 |
3.00 |
4.23 |
|
| Including |
79.00 |
82.00 |
3.00 |
1.26 |
|
| AND |
165.00 |
205.00 |
40.00 |
0.80 |
|
| Including |
165.00 |
169.00 |
4.00 |
1.32 |
|
| Including |
174.00 |
183.00 |
9.00 |
1.10 |
|
| Including |
188.00 |
194.00 |
6.00 |
1.53 |
|
| KRD104 |
9.25 |
86.00 |
76.75 |
0.84 |
|
| Including |
15.25 |
21.25 |
6.00 |
0.85 |
|
| Including |
24.25 |
48.25 |
24.00 |
1.63 |
|
| Including |
54.25 |
58.00 |
3.75 |
1.23 |
|
| KRD98 |
1.00 |
16.00 |
15.00 |
0.70 |
|
| Including |
1.00 |
5.00 |
4.00 |
1.47 |
|
5150N
update |
KRD106 |
1.20 |
55.20 |
54.00 |
3.16 |
|
| Including |
1.20 |
20.20 |
19.00 |
5.92 |
|
| Including |
27.20 |
37.20 |
10.00 |
4.43 |
|
| Including |
48.20 |
51.20 |
3.00 |
1.07 |
|
| AND |
66.20 |
72.20 |
6.00 |
1.58 |
|
| 5650N |
KRD68 |
16.00 |
49.00 |
33.00 |
1.02 |
|
| Including |
29.00 |
34.00 |
5.00 |
1.79 |
|
| Including |
39.00 |
48.00 |
9.00 |
2.04 |
|
| KRD67 |
14.00 |
44.00 |
30.00 |
0.64 |
|
| Including |
16.00 |
19.00 |
3.00 |
1.90 |
|
| Including |
36.00 |
39.00 |
3.00 |
1.20 |
|
| RRL-KDH17 |
85.00 |
88.00 |
3.00 |
1.14 |
Randgold drill hole |
| AND |
111.00 |
229.00 |
118.00 |
1.13 |
|
| Including |
131.00 |
139.00 |
8.00 |
1.67 |
|
| Including |
143.00 |
180.00 |
37.00 |
1.27 |
|
| Including |
186.00 |
199.00 |
13.00 |
2.39 |
|
| Including |
202.00 |
208.00 |
6.00 |
1.46 |
|
| Including |
211.00 |
221.00 |
10.00 |
1.40 |
|
| AND |
240.00 |
292.00 |
52.00 |
1.48 |
|
| Including |
241.00 |
277.00 |
36.00 |
1.80 |
|
| AND |
302.00 |
331.00 |
29.00 |
0.56 |
|
| KDH97 |
56.00 |
235.25 |
179.25 |
1.05 |
halted in mineralization |
| Including |
61.30 |
76.00 |
14.70 |
2.68 |
|
| Including |
79.75 |
107.00 |
27.25 |
1.13 |
|
| Including |
113.00 |
130.00 |
17.00 |
1.39 |
|
| Including |
143.90 |
147.90 |
4.00 |
1.27 |
|
| Including |
161.00 |
166.10 |
5.10 |
1.10 |
|
| Including |
174.85 |
192.10 |
17.25 |
1.37 |
|
| KRD95 |
23.00 |
46.00 |
23.00 |
0.51 |
|
| Including |
42.00 |
45.00 |
3.00 |
1.31 |
|
| AND |
72.00 |
112.50 |
40.50 |
0.58 |
|
| Including |
75.00 |
78.80 |
3.80 |
1.35 |
|
| AND |
128.00 |
181.25 |
53.25 |
0.85 |
|
| KRD96 |
38.00 |
45.00 |
7.00 |
1.47 |
|
| AND |
54.00 |
88.00 |
34.00 |
0.61 |
|
| Including |
76.00 |
81.70 |
5.70 |
1.54 |
|
| AND |
129.00 |
145.40 |
16.40 |
0.50 |
halted in mineralization |
| KRD94 |
21.00 |
36.00 |
15.00 |
0.61 |
|
| AND |
44.00 |
66.00 |
22.00 |
0.57 |
|
| 5750N |
KRD87 |
69.00 |
73.00 |
4.00 |
1.29 |
|
| KRD88 |
68.00 |
89.00 |
21.00 |
0.55 |
|
| RRL-KRC09 |
38.00 |
51.00 |
13.00 |
0.94 |
Randgold drill hole |
| Including |
42.00 |
49.00 |
7.00 |
1.41 |
|
Notes on Tables 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 (increased to 6m in KDH97).
- 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 reverse circulation (RC) and/or cored drilling (see Table 2).
- 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.
- 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.
- 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 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 4800N, 4900N, 5050N, 5150N, 5650N and 5750N
| SECTION |
BHID |
Easting |
Northing |
Elevation |
Dip |
Azimuth |
Depth |
RC |
DD |
| 4800N |
KKRC45 |
738995 |
1288985 |
267.10 |
-55 |
135 |
80.00 |
80.00 |
0.00 |
| KRD91 |
738962 |
1289018 |
266.80 |
-55 |
135 |
145.00 |
83.20 |
61.80 |
| RRL_KDH06 |
738943 |
1289063 |
266.60 |
-45 |
130 |
211.00 |
0.00 |
211.00 |
| 4900N |
KKRC44 |
739066 |
1289057 |
266.10 |
-55 |
135 |
57.00 |
57.00 |
0.00 |
| KRD89 |
739033 |
1289092 |
266.00 |
-55 |
135 |
140.10 |
42.40 |
97.70 |
| RRL_KDH10 |
738986 |
1289143 |
267.30 |
-45 |
130 |
304.00 |
0.00 |
304.00 |
| 5050N |
KRD65 |
738997 |
1289338 |
270.57 |
-58 |
135 |
52.00 |
52.00 |
0.00 |
| KDH92 |
739067 |
1289269 |
269.07 |
-55 |
135 |
265.25 |
0.00 |
265.25 |
| KRD104 |
739140 |
1289197 |
267.31 |
-56 |
135 |
135.00 |
55.25 |
79.75 |
| KRD98 |
739161 |
1289172 |
266.83 |
-55 |
135 |
80.55 |
40.50 |
40.05 |
| RRL-KDH12 |
739078 |
1289269 |
269,13 |
-45 |
130 |
328.00 |
0,00 |
328,00 |
| 5150N |
KRD106 |
739225 |
1289248 |
266.74 |
-55 |
135 |
110.00 |
72.20 |
37.80 |
| 5650N |
KDH97 |
739533 |
1289656 |
269.20 |
-55 |
135 |
235.00 |
0.00 |
235.00 |
| KRD67 |
739459 |
1289731 |
270.50 |
-54 |
135 |
47.00 |
47.00 |
0.00 |
| KRD68 |
739409 |
1289782 |
272.40 |
-57 |
135 |
51.00 |
51.00 |
0.00 |
| KRD94 |
739625 |
1289564 |
267.70 |
-55 |
135 |
100.00 |
56.75 |
43.25 |
| KRD95 |
739564 |
1289625 |
268.70 |
-55 |
135 |
186.15 |
45.00 |
141.15 |
| KRD96 |
739602 |
1289588 |
268.10 |
-55 |
135 |
145.40 |
41.00 |
104.40 |
| RRL_KDH17 |
739466 |
1289705 |
270.40 |
-45 |
125 |
349.00 |
0.00 |
349.00 |
| 5750N |
KRD100 |
739753 |
1289579 |
267.50 |
-55 |
135 |
230.50 |
72.10 |
158.40 |
| KRD86 |
739671 |
1289662 |
269.10 |
-55 |
135 |
80.00 |
39.00 |
41.00 |
| KRD87 |
739636 |
1289697 |
269.70 |
-56 |
135 |
160.00 |
89.00 |
71.00 |
| KRD88 |
739699 |
1289634 |
269.00 |
-56 |
135 |
165.20 |
66.50 |
98.70 |
| RRL_KRC08 |
739619 |
1289748 |
270.80 |
-45 |
130 |
94.00 |
94.00 |
0.00 |
| RRL_KRC09 |
739664 |
1289709 |
270.20 |
-45 |
130 |
90.00 |
90.00 |
0.00 |
* KRD67 and KRD68 are uncompleted holes
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:
Figure 5:
Figure 6:
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