Volta Resources intersects 55.85m @ 4.29g/t gold (uncut) at its Kiaka Gold Project in Burkina Faso and confirms strike and depth extent
Friday, Oct 12, 2012
TORONTO, Ontario, October 11, 2012 /PRNewswire/ --Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces additional results from the ongoing 2012 drilling program (Phase 4) on the Central Area at its Kiaka Gold Project in Burkina Faso. The Phase 4 program is focused principally on infill drilling those areas where Inferred category resources occur within the open pit shell defined in the pre-feasibility study ("PFS", see News Release of 3 May 2012). The aim is to enhance a portion of these Inferred Resources to the Indicated category, thereby allowing them to be converted to Mineral Reserves so that they report to ore and not waste. This +30,000m drilling program is also testing the area between the Kiaka Central Area and the Kiaka South Area. Shallow RC drilling has also been undertaken adjacent to identified mineralization to cover the full extent of the proposed PFS pit.
In the Kiaka Central Area, Volta Resources has already defined 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 (see News Release of March 21, 2012). A positive pre-feasibility study has converted 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 May 3, 2012). In addition, Volta Resources has recently announced a maiden NI 43-101 compliant Mineral Resource estimate for the Kiaka South deposit, located some 700m southwest of the Company's Kiaka Central Area. The estimate includes 1.84 million tonnes @ 2.0g/t Au for 118,000 ounces in the Measured and Indicated categories (see News Release of September 27, 2012).
The current press release includes the results from 114 drill holes located in the southern half of the Kiaka Central Area (see Figure 1), between Section 4250N and Section 5600N. These holes, totaling 16,834m of drilling, comprise respectively 25 core holes (9,551m) and 89 reverse circulation holes (7,283m). The results confirm the extension of the gold mineralization at depth and along strike in the Kiaka Central Area. They show that low-grade gold mineralization does extend south of the Kiaka Central Area, where it occurs on both sides of a large unmineralised gabbroic intrusion. Intersection highlights (based on uncut assays) from the current reported holes include:
"These drill results show consistency with the previous drilling and we are particularily pleased as they contain several broad intersections with grades exceeding our average resource grade. This is consistent with our goal in this phase of drilling to enhance the attributes of our resource and ultimately of a mine. We look forward to announcing further results in the near future. We are currently carrying out a Feasibility Study due for completion by the end of the second quarter of 2013," said Kevin Bullock, Volta Resources' President and CEO.
Results for the holes are highlighted in Table 1 and locations shown in Figure 1. Analyses of the Volta Resources samples were undertaken by fire assay on a 50g charge at ALS Chemex Laboratories and/or at Actlabs Laboratory, both in Ouagadougou. Volta Resources's sampling and assay procedures included rigorous QA/QC elements that employed the inclusion of certified standards and blanks.
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 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 will focus on fast-tracking its flagship Kiaka Gold Project (NI-43-101 compliant resources include 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] 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]) towards a development decision, aiming to complete a Feasibility Study in Q1, 2013. Recent acquisition of properties around Kiaka have provided VTR with an extensive ground position along the highly prospective Markoye Fault Corridor in an important emerging gold province.
Source: Volta Resources