|By PR Newswire||
|October 18, 2013 10:40 AM EDT||
TORONTO, October 18, 2013 /PRNewswire/ --
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) is providing an update on the mechanized auger drilling program carried out over its Kiaka exploration permit which hosts Volta Resources' flagship Kiaka Gold Project, Burkina Faso, West Africa.
Two extensive gold targets on the Kiaka permit, Mouzi and Niaogho-Sondo (respectively 6km and 15km north of the Kiaka gold deposit), have recently been followed-up by a comprehensive auger drilling program (see Figure 1). Both targets have several coherent gold anomalies considered to be related to the same gold mineralizing event that generated the Kiaka gold deposit. Significantly, the program has identified a +3.5km long gold anomaly in the north-eastern part of the tenement, at Niaogho, where gold results for samples regularly exceed 100 ppb gold with peaks of more than 1.0 g/t gold.
Kevin Bullock says, "The results from this auger drill program confirm the prospectivity of the Kiaka area beyond the main Kiaka gold deposit. Volta Resources now has two new, drill ready, quality priority targets within a reasonable distance of proposed Kiaka project infrastructure."
A total of 4,775 auger holes were drilled over the targets, for a total of 10,153m. The saprolite horizon was sampled at the base of the holes to overcome the muting or masking of the geochemical response generated by soil sampling in areas of complex regolith. Samples were sent to BIGS Laboratories, Ouagadougou, Burkina Faso for standard preparation (crushing, pulverization, splitting) and gold fire assay on 50g charge. The accuracy and precision of all the results was tested through the systematic inclusion of Au standards and field blanks. The results for the reported holes have passed the Company's rigorous QA/QC protocols.
The auger drilling program at Mouzi was undertaken on a 100x100m sampling grid, with holes drilled to depths of 1m to 13m. The campaign has confirmed the reliability of the former anomalous soil and rock sampling results and has defined significant gold anomalism along NE-trending structures, or on splays of those. The most consistent anomaly, defined by regular values in excess of 50ppb gold, occurs in the south-western part of the target and can be traced over a strike extent in excess of 1.8km (see Figure 2).
A total of 2,484 holes were drilled on the Niaogho-Sondo prospect, initially on a 200x200m grid, subsequently followed-up by in-fill drilling on 50x100m and 50x50m grids. Significant gold anomalism has been defined by a 100ppb Au threshold along two NNE-SSW oriented trends, occurring on both sides of a 3-4km wide metasedimentary formation, intercalated between two major granitic bodies (see Figure 3).
The eastern anomaly, Niaogho, extends over a total strike length of over 3.5km and reaches a width, locally, of more than 500m. The anomaly is spatially associated with a N-S trending gabbroic intrusion. Within this N-S trending anomalous envelope, several discrete and parallel NE-SW trends with values exceeding 200ppb Au ( maximum of 1,955 ppb gold), were delineated over discontinuous strike extents of 300m to 900m. Artisanal miners are active in this area.
The western anomaly, Sondo, can be traced along strike over about 2km and occurs on the contact between metasediments and granites.
Further in-fill auger drilling is planned on the southern part of the Niaogho anomaly as well as on other targets on the Kiaka license. The Company plans to develop and rank reverse circulation and diamond drill targets at both of these prospects for further drill testing in the future.
Under the guidelines of National Instrument 43-101, the qualified person for the Greater Kiaka Gold Project is Mr. Guy Franceschi, Vice President, Exploration for Volta Resources. Mr. Franceschi is a member of the European Federation of Geologists and has reviewed and approved the contents of this news release.
About Volta Resources:
Volta Resources has a portfolio of quality gold exploration projects in Burkina Faso and Ghana, both mining-friendly West African jurisdictions with proven world-class gold deposits. VTR is focussing on its flagship Kiaka Gold Project (NI-43-101 compliant resources include 153.26 Mt @ 0.99 g/t Au for 4,862,000 ounces in the Measured and Indicated categories and 33.74 Mt @ 0.93g/t for 1,006,000 ounces in the Inferred category (Please see VTR press release dated January 10, 2013) including 34.38 million tonnes @ 1.04 g/t Au for 1,145,969 ounces of gold in the Proven category and 91.70 million tonnes @ 0.93 g/t Au for 2,742,353 ounces of gold in the Probable category (Please see VTR press release dated May 3, 2012). The acquisition of properties around the Kiaka Gold Project has provided VTR with an extensive ground position along the highly prospective Markoye Fault Corridor in an important emerging gold province.
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 Resources 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 Resources 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.
Image with caption: "Figure 1: Kiaka Property Scale Geology With Locality of Main Prospects (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20131018_C5120_PHOTO_EN_32228.jpg
Image with caption: "Figure 2: Mouzi Prospect (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20131018_C5120_PHOTO_EN_32229.jpg
Image with caption: "Figure 3: Niaogho and Sondo Prospects (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20131018_C5120_PHOTO_EN_32230.jpg
SOURCE: Volta Resources Inc.
For further information:
please refer to our website http://www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Andreas Curkovic, Investor Relations