Volta drills 3.1 g/t Au of 21 m at its Kiaka project
2009-12-16 10:19 ET - News Release
Mr. Kevin Bullock reports
VOLTA CONFIRMS WIDE GOLD MINERALIZATION, INCLUDING HIGHER GRADE INTERCEPTS, AT ITS KIAKA GOLD PROJECT IN BURKINA FASO
Volta Resources Inc. has released the results from the first three holes completed on it's Kiaka gold project, located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. Volta acquired the property from Randgold Resources, with the transaction being approved by shareholders on Nov. 13, 2009. The company commenced an aggressive drilling program comprising more than 150 holes for over 22,000 metres on Nov. 22, 2009. Volta intends to complete the program by the end of April, 2010, and to finalize a National Instrument 43-101 compliant resource before the end of June, 2010. To date, nine holes have been completed.
The results for the first three holes drilled on section 5250N have already been received from ALS Chemex Laboratories in Ouagadougou. The highlights include:
KRD25 from 0 to 136 m - 136 m @ 1.66 g/t gold
including 21 m @ 3.10 g/t gold
and including 50.8 m @ 1.78 g/t gold
KRD26 from 1 to 166 m - 165 m @ 0.83 g/t gold
including 40 m @ 1.15 g/t gold
KRD27 from 2.1 m - 36.1 m - 34 m @ 1.40 g/t gold
including 14 m @ 2.25 g/t gold
Kevin Bullock, Volta's president and chief executive officer, said: "These first impressively wide intersections clearly support Kiaka's historical potential outlined by Randgold. More importantly, they bode well for Volta's decision to aggressively focus on Kiaka as its premier development project."
Vic King, Volta's chief operating officer, said: "The results from Volta's infill drillholes confirm the impressive width of the KMZ zone, previously defined by Randgold on the same section in holes KDH05 and KDH14. More importantly, Volta's closer drill spacing has better defined the continuity on the section of discrete higher grade zones. These were initially observed during Volta's due diligence review of the project. Our logging has confirmed that the higher grade zones can be broadly correlated with brittle-ductile deformation, a strong secondary structural fabric and a distinct alteration assemblage. These relationships will facilitate confidently tracking these higher grade zones from section to section, thereby improving geological modeling and resource estimation, with positive implications for improving overall project economics."
Volta's current drill program will test 1,200-metre strike of the 2,800-metre long KMZ zone and 500 metres of the 700 metres long KHZ zone. The program will infill and extend drilling such that the KMZ zone is drilled to 50 metre by 50 metre spacing from surface to a 150-metre depth and 100 metres by 50 metres from 150-metre to 200-metre depth. On the narrower KHZ zone, drill spacing will be 50m x 50m from surface to a 100m depth and 100m x 50m from 100m to 150m. Planning and optimization of the drill program was undertaken with input from SRK Consulting (United Kingdom) to ensure that the delivery of the independent resource consultant's NI 43-101 compliant resource is delivered as efficiently as possible.
In order to appreciate the extent and geometry of the mineralization on the 5250N section, the results for the three Volta holes and two of Randgold's holes. Analyses of the Volta samples were undertaken by fire assay on a 50 grams charge at ALS Chemex Laboratories in Ouagadougou. Both Volta and Randgold sampling and assay procedures included QA/QC elements that employed the inclusion of certified standards and blanks.
The intersections are based on a 0.3 gram per tonne gold cut-off with maximum internal dilution of five metres for the lower grade mineralization envelope. In order to highlight the continuity of the high grade zone, a 0.8 gram per tonne gold cut-off with maximum internal dilution of two metres has been used.
DRILLING DETAILS:
Hole ID From To Length Grade Company
KRD25 0.00 136.00 136.00 1.66 Volta
KRD25 including 1.20 22.20 21.00 3.10
KRD25 including 33.20 38.20 5.00 1.13
KRD25 including 46.20 51.20 5.00 1.95
KRD25 including 56.20 107.00 50.80 1.78
KRD25 including 114.00 128.00 14.00 1.39
KRD25 including 131.00 136.00 5.00 3.95
KRD25 and 143.00 152.05 9.05 1.18
KRD26 1.00 166.00 165.00 0.83 Volta
KRD26 including 2.00 5.00 3.00 1.12
KRD26 including 13.00 17.00 4.00 2.98
KRD26 including 20.00 25.00 5.00 3.15
KRD26 including 28.00 37.00 9.00 1.01
KRD26 including 40.00 43.00 3.00 1.25
KRD26 including 53.00 93.00 40.00 1.15
KRD26 including 151.00 155.00 4.00 2.18
KRD27 2.10 36.10 34.00 1.40 Volta
KRD27 including 5.10 8.10 3.00 3.73
KRD27 including 18.10 32.10 14.00 2.25
KDH05 6.00 16.00 10.00 0.78 Randgold
KDH05 and 23.00 238.00 215.00 1.42
KDH05 including 30.00 35.00 5.00 2.93
KDH05 including 41.00 113.00 72.00 2.17
KDH05 including 120.00 129.00 9.00 0.89
KDH05 including 139.00 150.00 11.00 1.11
KDH05 including 155.00 202.00 47.00 1.57
KDH05 including 224.00 228.00 4.00 1.44
KDH14 7.00 22.00 15.00 0.64 Randgold
KDH14 and 15.00 18.00 3.00 1.48
KDH14 and 57.00 61.00 4.00 1.67
KDH14 including 57.00 61.00 4.00 1.67
KDH14 and 87.00 271.00 184.00 1.57
KDH14 including 88.00 95.00 7.00 1.37
KDH14 including 124.00 129.00 5.00 2.37
KDH14 including 132.00 136.00 4.00 1.45
KDH14 including 155.00 184.00 29.00 2.42
KDH14 including 192.00 204.00 12.00 1.08
KDH14 including 207.00 228.00 21.00 2.74
KDH14 including 239.00 259.00 20.00 4.20
KDH14 and 279.00 290.00 11.00 1.31
KDH14 and 280.00 286.00 6.00 2.19
Notes:
* 1) Intervals are core length. True width is unknown at this time.
* 2) Intersections are based on a 0.3 gram per tonne gold cut-off with maximum internal dilution of five metres for the lower grade mineralization envelope. In order to highlight the continuity of the high-grade zone, a 0.8 gram per tonne gold cut-off with maximum internal dilution of two metres has been used. No top cut has been applied.
* 3) The intersections listed in the table represent sections of at least three metres in excess of one gram per tonne gold or sections of at least 10 metres in excess of 0.5 gram per tonne gold.
* 4) Dry one-metre-interval samples were riffle-split to provide two-kilogram samples sent to the laboratory. Wet samples were dried in the field, then riffle- split in the same way.
* 5) Samples were sent to ALS Chemex in Ouagadougou for standard preparation followed by fire assay on a 50-gram charge.
* 6) Certified standards were inserted every 15 samples, field duplicates 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.
* 7) All drill holes were pre-collared in reverse circulation (RC) and finished with a diamond tail (see table 2).
The Kiaka gold project lies at the intersection of the northeast striking Tenkodogo greenstone belt and the regionally significant north striking Markoye Fault, in whose proximity some of the larger gold resources discovered in Burkina Faso so far, have been discovered. These include Iamgold's Essakane deposit (5.1 million ounces), High River Gold's Taparko deposit (1.7 million ounces), Orezone's Bombore deposit (2.1 million counces) and Etruscan's Youga deposit (1.5 million ounces).
BOREHOLE COLLAR COORDINATES AND ORIENTATION PARAMETERS:
Total
Hole Elevation depth Dip Azimuth RC DD
ID Easting Northing (m) degrees degrees (m) (m)
KRD25 739,297 1,289,324 269.75 155.20 -56 315 72.20 83.00
KRD26 739,280 1,289,341 267.43 170.33 -54 135 66.00 104.33
KRD27 739,316 1,289,306 266.82 90.20 -52 135 59.10 31.10
Under the guidelines of National Instrument 43-101, the qualified person for the Kiaka gold project is 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.
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