NRTORONTO, April 29 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces that a 874 hole (8,249 meters) scout geochemical auger drilling campaign has identified several gold anomalies on the Company's wholly-owned Titao project in northwestern Burkina Faso, West Africa (see Figure 1). Significantly, the program has identified a large gold anomaly on the northernmost tested target, Toulfe, where gold results for samples taken in saprolite, at the base of the holes, regularly exceed 0.1g/t gold with peaks of 2.18g/t gold.
Kevin Bullock, Volta's CEO, said, "These results further enhance our confidence and enthusiasm in the mineral potential of the Titao area. Based on these results we will plan a next stage drilling campaign. These results also underscore that in addition to our flagship Kiaka gold project, we have a strong portfolio of other gold projects that we strongly believe have the quality to host sizeable gold deposits and we will continue to systematically test their potential."
The auger program was designed to test targets highlighted by processing high resolution heli-borne geophysical data, supported by detailed ground geological mapping. The auger holes were drilled on 25m centers and 200m line spacing across five selected targets, respectively Toulfe, Yirvouatenga, Samtaaba, Songotaba and Youkirba (see Figure 2). Samples of the saprolite were sent to ALS Chemex Burkina S.A.R.L, Ouagadougou, Burkina Faso for standard preparation (crushing, pulverization, splitting) and gold fire assay on 50g charge. The accuracy 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.
Auger drilling is essential in the area, due to thick (locally transported) laterite and extensive sandy soil cover, which has resulted in muting or even masking the geochemical response usually provided by soil sampling. All targets tested during the present campaign returned coherent anomalous gold values, defining anomalies that remain open on strike. The best results were obtained from the Toulfe prospect which is located in the northernmost part of the Titao I permit, one of the three, 100%-owned contiguous permits which constitute the Titao project. The auger program has outlined a (greater than) 1,000 meter long gold anomaly at Toulfe, which is coincident with a major shear zone along the contact of an interpreted pluton. The auger anomaly is open to the north, south and west (see figure 3). The area is also a centre for some minor artisanal gold activity.
The auger program will continue at Titao after the rig has tested a number of gold anomalies in the Company's Gaoua project area before the rainy season renders access there difficult. Auger drilling is scheduled to resume at Titao in September 2010 when the extension and enhancement of the anomalies identified to date will be undertaken in order to advance to deeper RC and/or diamond drilling.
Under the guidelines of National Instrument 43-101, the qualified person for the Titao Gold Project is Mr. 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.
Volta is a mineral exploration company primarily focused on becoming a leader in the identification, acquisition and exploration of gold properties in West Africa. The Company is currently fast-tracking its flagship Kiaka Gold Project, located in Burkina Faso, towards a development decision.
To view Figures 1, 2, and 3, please visit https://files.newswire.ca/407/Volta_Apr29.doc
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.
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