***NEWS***TSX: VTR
TORONTO, Sept. 22 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) today announced that it has planned a drilling program comprising more than 250 holes for approximately 50,000 meters in the Central Area at its Kiaka Gold Project in Burkina Faso (see Figure 1). Approximately 40% of the program is scheduled to be completed by the end of this year. The program is scheduled to commence this weekend.
Volta recently announced a maiden NI43-101 compliant resource at its flagship Kiaka Gold Project. The resource estimate compiled by independent consultants, SRK (UK) based in Cardiff, United Kingdom, included Indicated Resources of 41.25 Mt at 1.04g/t for 1,384,000 ounces of gold and Inferred Resources of 15.9 Mt at 0.90g/t for 480,000 ounces of gold. The resource is contained within a Whittle optimized open pit, at a 0.6 g/t gold cut-off (see press release dated June 29, 2010), extending to approximately 200 meters below surface.
The drilling program is aimed at achieving the following objectives (see Figure 2):
<< - Infill the core of the main deposit defined so far in the Central Area to 25m x 50m drill spacing in order to raise the category of most of the Indicated to Measured Resources and Inferred to Indicated Resources. - Extend the drilling depth of the main area of the deposit in the Central Area so that the interval between 200 meters and 300 meters below surface delivers Inferred Resources. - Extend and infill the drilling north of the main deposit by approximately 450 meters on 50m x 50m drill spacing in an attempt to add additional Indicated and Inferred Resources. - Additional drilling to the northwest of the main deposit in the Central Area in order to follow up recent good intersections achieved in the KHZ zone. This drilling will also attempt to add Indicated and Inferred Resources. - Extend and infill the drilling south of the main deposit by approximately 400 meters on 50m x 50m drill spacing in an attempt to add additional Indicated and Inferred Resources. >>
See https://files.newswire.ca/407/Volta_Kiaka_Sept22.doc for maps of the Kiaka Gold Project.
Kevin Bullock, Volta's CEO, said, "After our very successful first year developing Kiaka, we continue to proceed aggressively to further expand the scope of the project. We will be drilling deeper than before and increasing the overall territory that has been drilled. Our goal is to increase the existing resource and then evaluate the best production path scenarios.
The Company is also finalizing plans for follow up drilling on the Contact Zone in the South Area. A program to pursue other targets on the 244 km(2) Kiaka property is also being finalized and would likely commence toward the end of 2010.
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. 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.