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Kevin Bullock (center),President and CEO of Volta Resources, along with Athanase Nare (right)
Chief Geologist for Burkina Faso, on a site visit to the Kampti property.
2009 was a transitional year for your Company, to say the least. Volta was able to deliver on its plan to acquire a project that was more advanced than any it currently held by acquiring the advanced Kiaka Gold Project from Randgold Resources. This acquisition has transformed Volta from a pure exploration play to a company with short-term resource growth, medium term development and production potential and long-term value.
Volta is focused primarily on the Kiaka Gold Project where its aggressive 22,000 metre drilling campaign is delivering positive results confirming Randgold's previous work as well as better defining the deposit and identifying higher grade zones within the overall mineralized envelope. This better definition will have positive implications on the future project economics.
There is also significant upside, suggested by anomalous pitting and RAB drilling, within 2.5 kilometres of the main Kiaka gold zone as well as quality regional targets on the 244 km2 concession making the project a very exciting one.
Your Company continues to advance its Gaoua copper-gold porphyry project in southern Burkina Faso with several new porphyry targets being discovered and verified as well as a very exciting new gold discovery called Nassara. Initial trenching and limited RC drilling at Nassara has identified mineralization along a regionally extensive shear zone where local jogs and cross cutting structures have resulted in local dilation settings. Volta will continue to advance this exciting discovery during 2010.
The Kampti project also continues to deliver positive results as the Company progresses in its understanding of the mineralized model developing on the concession in southern Burkina Faso. In northern Burkina Faso the company has commenced an aggressive auger drilling program on its Titao property looking for gold mineralization through transported cover where the Company has identified geophysical anomalies.
Volta has not gone throughout 2009 without its difficulties as well. The Company has suspended its exploration programs in Ghana due to an impasse with the Environmental Protection Agency ("EPA"). The EPA has not granted the required permits for further exploration on Volta's Bui belt properties due to their proximity to the Bui Hydro Dam. The Company is using its best efforts to come up with a solution to solve the impasse and get back to exploration on these quality permits.
2010 will see us keep moving forward aggressively at the Kiaka Gold Project in order to fast track towards a development decision as well as keep a quality pipeline of projects moving forward. On behalf of the many hard working employees at Volta I would like to take this opportunity to thank our shareholders for their support and belief through some very transitional times during 2009. I would also like to thank the board for their support and guidance in building Volta into a significant company.
Sincerely,
Kevin Bullock
President and CEO |
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