Volta Resources (TSX: T.VTR, Stock Forum) shares raced 27% higher to 93 cents after it reported fresh gold intersects. The company acquires and explores gold properties in West Africa.
On Tuesday Volta announced drill results from its Kiaka gold property in Burkino Faso. The gold exploration company has drilled 52 holes of a planned program of 150 holes. It released results from nine drill holes from section 5400N, which included highlights like hole KKRC21 with 22.0 metres of 1.39 grams per tonne of gold, including 6 metres of 3.61 grams per tonne of gold.
The company’s CEO said in the release that the results highlighted the hallmarks of the Kiaka property: “continuity, consistency and broad widths.”
The posters on the company’s Bullboard were excited by the news.
Lemooseman declared: “This should make the stock fly because the grades are better than historic results so will have a bigger resource than previous estimated so hang on for the ride.”
Referring to graphics published by Volta on its website, yo_dog pointed to hole“KRD36. This hole bottoms in mineralization and more importantly it shows the zone is widening with depth. This was also observed in the last press release and in time the company will delineate this zone. The wider the zone becomes the wider you can make the open pit mouth, thus taking in more mineralization, especially to depth.”
The news from Kiaka comes on the heel of positive results from its Gaoua copper exploration-stage project, which is located in the south west of the country.
Mrcashflow wrote that “West Africa is perhaps the hottest gold mining sector on the planet and Volta has now placed itself right in the center of all the action,” and “The long term outlook certainly looks solid for Volta as the price of gold should continue to rise with fiat currencies evaporating in value, during these times of uncertainty Volta continues to add to their blossoming deposit with encouraging results.”
Posters also felt that the strong volume reflected an interest in the company by institutions, rather than retail investors. “We are soon to be very mainstream, the market has discovered us,” cheered tdsb.