Volta Resources announces maiden resource for the Kiaka south area deposit at the Kiaka Gold project in Burkina Faso
Friday, Sep 28, 2012
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces a maiden NI 43-101 compliant Mineral Resource estimate has been completed for the Kiaka South deposit on the Kiaka Gold Project which is located 140 kilometers south-east of Ouagadougou in Burkina Faso. The Mineral Resource estimate was prepared by SRK Consulting UK Limited (Cardiff) ("SRK") in collaboration with Volta's personnel. The estimate has been reported according to CIM Standards and will be supported by a NI43-101 independent technical report which will be published in due course.
The high-grade mineralization at the Kiaka South Area is situated approximately 700m south-west of the Company's Kiaka Central Area where a positive pre-feasibility study has already defined proven and probable mineral reserves of 126.08 million tonnes at a diluted grade of 0.96 g/t Au for 3.89 million ounces of gold within a single open pit (see News Release of 3 May 2012), within NI-43-101 compliant resources including 117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t Au for 1,000,000 ounces in the Inferred category (Please see VTR press release dated March 21, 2012).
The Kiaka South Area mineralisation is structurally controlled, being focussed along contacts between north-easterly striking meta-sediments and meta-basalts enclosed within a northerly trending envelope. Drilling has defined four such north-easterly striking zones, each comprising multiple, narrow mineralised lenses, extending between 75m and 200m along strike (illustrated in plan and section in Figures 1 and 2). They vary in thickness, but average between 2 - 10m and can range up to 15 -20m. The resource is defined from surface, down to an average depth of approximately 100m (illustrated in cross section in Figure 2). The Kiaka South Area mineralisation is characterized by high-grade intercepts with single metre intervals regularly exceeding 10g/t gold. Most drill holes intersecting the ore body have, so far, returned high-grade values over narrow to moderate widths confirming the continuity of the high-grade mineralization. The deposit is overlain by thin transported surface cover and artisanal spoil, while oxidation has affected only the upper 20 to 30m of the underlying geology.
The estimate is based on a combination of diamond core and RC chip samples which were fire assayed for gold by ALS and Actlabs laboratories in Ouagadougou. Comprehensive QAQC has demonstrated that sample preparation and laboratory performance for all drilling campaigns comprising the Kiaka South Area database provided assays which are fit for the purpose of this estimate.
The grade estimation domains/zones comprise narrow lenses which have been wireframed approximating a 0.5 g/t assay cut-off. SRK has produced a block model with block dimensions of 5m x 20m x 10m into which gold grades have been estimated, based on optimised kriging routines with a search ellipse orientated to follow the dominant strike and dip of each domain. High-grade capping was applied based on a combination of log probability plots and raw and log histogram information. Based on this analysis, SRK has decided to apply a high-grade cap of 60 g/t Au to two domains and 50 g/t Au was applied to the third domain. The fourth domain was deemed not to require any high-grade capping.
SRK has treated all boundaries as hard boundaries in terms of the estimation process. The resultant block grade distribution is appropriate for the mineralisation style and noted continuity, which SRK consider to be an important feature of the deposit. In areas of limited sampling the block grade estimates have been produced using expanded search ellipses which result in more smoothed boundaries.
SRK has considered sampling density and distance from samples in order to classify the Mineral Resource according to the terminology, definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Mineral Reserves (December 2005) as required by National Instrument 43-101.
Source: Volta Resources Inc.