Voltalia Ord Shs VLTAF

3 million ounces of gold...

[karead]

VOLTA MORE THAN DOUBLES THE GOLD RESOURCE AT ITS KIAKA GOLD PROJECT IN BURKINA FASO

09:05 EDT Wednesday, June 29, 2011

Measured and Indicated Resources Increase 118% to 3,018,000 ounces of gold

AND

Inferred Resources Increase 163% to 1,260,000 ounces of gold

TORONTO, June 29, 2011 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces that an updated NI 43-101 compliant Mineral Resource estimate has been completed for the Kiaka Gold Project which is located 140 kilometers south-east of Ouagadougou in Burkina Faso. The updated Mineral Resource estimate was prepared by SRK Consulting UK Limited (Cardiff) ("SRK") in collaboration with Volta's personnel.

The new and updated resource estimate for the Kiaka deposit is summarized in Table 1 below:

Table 1: Mineral Resources at the Kiaka deposit as at June 2011

		SRK Mineral Resource Statement, Kiaka Gold Project 28th June 2011
		Type	Category	Tonnes (Kt)	Au (g/t)	Metal Au (Kg)	Metal Au (Koz)
		Mineralised Bands	Measured	14,040	1.43	20,030	644
			Indicated	25,770	1.31	33,870	1,089
			Measured and Indicated	39,810	1.35	53,900	1,733
			Inferred	15,900	1.30	21,300	680
		Halo Mineralisation	Measured	15,220	0.79	12,050	387
			Indicated	35,260	0.79	27,910	897
			Measured and Indicated	50,480	0.79	39,960	1,284
			Inferred	22,600	0.80	17,900	580
		Combined Total	Measured	29,260	1.10	32,100	1,031
			Indicated	61,030	1.01	61,800	1,987
			Measured and Indicated	90,290	1.04	93,900	3,018
			Inferred	38,520	1.00	39,200	1,260
		Notes
		Mineralised Bands based on a cut-off grade of 1 Au (g/t) within mineralised wireframe
		Halo Mineralisation based on a cut-off grade of 0.6 Au (g/t) within mineralised wireframe

"Our drilling programs have more than doubled the mineral resource base from last year's estimate at Kiaka while also significantly increasing the confidence of the geological model" stated Kevin Bullock, Volta's President & CEO.

He went on to say "The Volta team has once again delivered the estimate on time and on budget and I commend them on their efforts. The extent of the current resource upgrade elevates the Kiaka deposit to the next category in terms of quality and size. Notwithstanding the success of the Phase 2 campaign, the Kiaka deposit is not closed off yet, with further potential indicated along strike and down dip. There are also untested targets in close proximity that will be drilled in Phase 3. Combined with its favorable location and positive results from initial metallurgical test work, the prospects for the Kiaka deposit have been considerably enhanced."

This mineral resource estimate is based on approximately 72,500 m of diamond and RC drilling: 35 drill holes for 8,083m from Randgold, the previous owners, and 365 drill holes for 64,484 m from Volta's ongoing drilling campaign. In comparison to 2010, an additional 245 drill holes have been incorporated, representing an additional 45,409 m of drilling and 45,862 new assays, representing a 69% increase in the size of the assay database.

Phase 2 drilling has now extended the Kiaka deposit to >1.5km along strike (illustrated in plan and longitudinal section in Figures 1 and 2) and down to an average depth of approximately 450m below surface (illustrated in cross sections in Figures 3 and 4). The additional drilling has confirmed that higher grade "mineralized bands" ranging between 5 metres and 50 metres wide extend with good continuity for 100 metres to 400 metres along strike and 50 metres to 200 metres down dip. These "mineralized bands" are hosted within a lower grade "halo mineralization" within a structural corridor that is 100 metres to 250 metres wide. SRK has elected to report resources from the "mineralized bands" at a cut-off grade of 1.0 g/t gold and the "halo mineralization" at a cut-off grade of 0.6 g/t gold.

Infill drilling has resulted in considerably increasing the confidence in the geological model, leading to 1,031,000 ounces now reporting to Measured Resources. Measured and Indicated Resources have increased by 118% from 1,384,000 ounces to 3,018,000 ounces and Inferred Resources by 163% from 480,000 ounces to 1,260,000 ounces. The change in the Mineral Resources from June 2010 to June 2011 is highlighted in Table 2.

Table 2: Change in the Mineral Resources from June 2010 to June 2011 at the Kiaka deposit.

			2010 KIAKA RESOURCE STATEMENT			2011 KIAKA RESOURCE STATEMENT
	Type	Category	Tonnes (Kt)	Au (g/t)	Metal Au (Koz)	Tonnes (Kt)	Au (g/t)	Metal Au (Koz)
	Mineralised Bands	Measured	-	-	-	14,040	1.43	644
		Indicated	16,990	1.42	773	25,770	1.31	1,089
		Measured and Indicated	16,990	1.42	773	39,810	1.35	1,733
		Inferred	4,510	1.4	200	15,900	1.3	680
	Halo Mineralisation	Measured	-	-	-	15,220	0.79	387
		Indicated	24,260	0.78	611	35,260	0.79	897
		Measured and Indicated	24260	0.78	611	50,480	0.79	1,284
		Inferred	11,400	0.8	280	22,600	0.8	580
	Combined Total	Measured	-	-	-	29,260	1.10	1,031
		Indicated	41,250	1.04	1,384	61,030	1.01	1,987
		Measured and Indicated	41250	1.04	1,384	90,290	1.04	3,018
		Inferred	15,900	0.90	480	38,520	1.00	1,260

The estimate is based on a combination of diamond core and RC chip samples which were fire assayed for gold by ALS, SGS and BIGS laboratories in Ouagadougou. Field rejects from the mineralized intersections of the Randgold drill holes have been re-sampled and included in Volta's assay database; comprehensive QAQC has demonstrated that sample preparation and laboratory performance for all drilling campaigns provided assays which are fit for the purpose of this estimate.

The grade estimation domains comprise the wide KMZ corridor and flanking KHZ structures that were wire-framed using an approximate 0.3 g/t shell. A block model was then generated using block dimensions of 20 metres x 10 metres x 5 metres, into which up to 24 x 3 meter composite samples per block were used for estimation employing an ordinary kriging routine.

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. Further, SRK has used reasonable costs for the region, process recoveries based on the results of an internal scoping study (currently being completed by SRK) and a long term upside gold price of US$ 1,175/oz to determine that the current resource and its potential depth extensions have sufficiently high grade, width and proximity to surface to have reasonable prospects for economic extraction by producing a Whittle open pit shell.

Table 3: Sensitivity of SRK's block model within the Whittle open pit, at a range of cut-off grades from 0.0g/t to 1.4g/t

		Grade - Tonnage Table, Kiaka Deposit 28th June 2011
			Measured & Indicated					Inferred
		Cut-off	Tonnes	Au Grade	Metal Au	Metal Au		Tonnes	Au Grade	Metal Au	Metal Au
		g/t	Kt	g/t	Kg	(Koz)		Kt	g/t	Kg	(Koz)
		1.40	12,210	1.77	21,640	700		3,900	1.89	7,300	230
		1.20	22,760	1.55	35,250	1,130		8,200	1.57	12,900	410
		1.00	39,810	1.35	53,900	1,730		15,900	1.34	21,300	680
		0.90	51,160	1.26	64,670	2,080		21,100	1.24	26,200	840
		0.80	63,340	1.18	75,020	2,410		26,300	1.16	30,700	990
		0.70	76,690	1.11	85,020	2,730		32,600	1.08	35,300	1,140
		0.60	90,290	1.04	93,860	3,020		38,500	1.02	39,200	1,260
		0.50	102,320	0.98	100,500	3,230		42,800	0.97	41,600	1,340
		0.40	112,210	0.94	104,980	3,380		45,600	0.94	42,900	1,380
		0.20	122,060	0.89	108,060	3,470		48,000	0.91	43,600	1,400
		0.00	167,730	0.68	114,860	3,690		80,000	0.61	48,400	1,560

Volta will continue with the Phase 3 (50,000 meter) drilling program to further extend and enhance the Kiaka deposit, test other local targets already identified within a 3 kilometer radius of the currently defined deposit and to carry out scout drilling on the other regional targets on the 184 km2 Kiaka property.

Volta plans to enter into a pre-feasibility study over the second half of the year that will concentrate on optimizing metallurgical test work and mining schedules. This will be done in tandem with generating appropriate and project specific operating and capital cost parameters for the Kiaka deposit. This is consistent with Volta's stated objective of fast-tracking the development of the Kiaka deposit to generate the best return for shareholders.

A copy of the full technical report that accompanies the NI 43-101 resource statement will be posted on Volta's website and on SEDAR within 45 days.

To view "Figure 1: Kiaka Deposit - Plan View", "Figure 2: Kiaka Deposit - Longitudinal Section", "Figure 3: Kiaka Deposit - Cross Section 5450N" and "Figure 4: Kiaka Deposit - Section 5200N", please click https://files.newswire.ca/407/Kiaka-0629.doc

Pursuant to National Instrument 43-101, the qualified persons responsible for the technical data provided in this press release are Mr. Martin Pittuck, Director and Corporate Consultant (Resource Geology) and Mr. Ben Parsons, a Senior Resource Geologist; both full time employees of SRK Consulting (UK) Ltd. Mr. Pittuck is a Chartered Engineer and a Member of the IOM3 and Mr. Parsons is a member of the AusIMM. Mr. Pittuck has reviewed and approved the contents of this news release.

Volta is a mineral exploration company primarily focused on becoming a leader in the identification, acquisition, exploration and development of gold properties in West Africa.

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 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 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.

For further information:

For further information, please refer to our website www.voltaresources.com or contact:

Kevin Bullock, P.Eng., President & CEO		Andreas Curkovic, Investor Relations
Tel: [phone]	or	Tel: [phone]
Fax: [phone]
Email: [e-mail]

©2011 CTVglobemedia Publishing Inc. All rights reserved.

[ALLEN4]

Nice, I didn't think we would see this until Monday.  Up and away from here.

[VentureTrader1]

Honestly (and I know its kind of hard to believe right now, even with this news) I think even the highest analyst estimates (5.00 and 5.25) are eventually going to look ridiculousely conservative.  This is a real gem, really under-appreciated right now.  Management keeps delivering what they commit to, results just keep getting better, we're way undervalued just on Kiaka, never mind