Volta Hits More Gold at its Nassara Gold Prospect in Southwestern Burkina
Faso
- Intersections of 9 meters @ 11.5 g/t gold, 5 meters @ 6.5 g/t gold and 19 meters @ 2.22 g/t gold -
TSX: VTR
TORONTO, Aug. 12 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announces the results from its drilling program recently completed at the Nassara prospect, on its 100% owned Danyoro permit, in southwestern Burkina Faso, West Africa.
The drilling program, comprising 35 drill holes (3,515 metres), targeted a 2.2 kilometer portion of a 10 kilometer long northwest trending shear zone associated with gold in bedrock (see News Release of 16 June, 2010). The program has identified three northwesterly plunging ore shoots, each with a strike length between 400 and 600m. The gold mineralization occurs in quartz veining hosted along the sheared contact between volcanic flows and graphitic schists (See Figure No. 1 - http://files.newswire.ca/407/voltafig1.pdf). The ore shoots dip 45-60 degrees to the southwest. The highlights from the drilling program include:
NRC6 : 11.0 m @ 2.18 g/t gold, from 38.0 m
NRC7 : 8.0 m @ 2.10 g/t gold, from 32.0 m
NRC14: 5.0 m @ 6.50 g/t gold, from 47.0 m
NRC17 : 13.0 m @ 0.96 g/t gold, from 32.0 m
NRC26 : 19.0 m @ 2.22 g/t gold, from 2.0 m
NRC31 : 9.0 m @ 11.15 g/t gold, from 51.0 m
Kevin Bullock, Volta's CEO, said, "These results amply confirm our decision to target the shear zone identified in the first phase of trenching and drilling. We are encouraged by the grades, the solid widths and by the presence of mineralization starting near surface. Nassara is a key project within Volta's growth strategy. By exploring Nassara, Volta seeks to have another robust gold project in Burkina Faso that will provide additional strategic options as we continue to advance our Kiaka Project towards a development decision."
The holes were drilled to lengths of up to 180 meters, all inclined at -55 degrees to the north-west. In all, 3,516 drill samples and 540 control samples (standards, duplicates and blanks) were submitted to ALS Chemex's laboratories in Ouagadougou, Burkina Faso. Volta's sampling and assay procedures included QA/QC elements that employed the inclusion of certified standards and blanks.
Table 1: Main Gold Intersections
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FROM TO INTERVAL GRADE
HOLE ID -----------------------------------------------
m m m g/t Au
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NRC5 36.00 43.00 7.00 1.83
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NRC6 27.00 29.00 2.00 5.12
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AND 38.00 49.00 11.00 2.18
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NRC7 32.00 40.00 8.00 2.10
--------------------------------------------------------------
NRC9 10.00 14.00 4.00 0.81
--------------------------------------------------------------
NRC10 39.00 42.00 3.00 1.53
--------------------------------------------------------------
NRC11 38.00 40.00 2.00 1.83
--------------------------------------------------------------
NRC12 37.00 39.00 2.00 0.64
--------------------------------------------------------------
AND 44.00 47.00 3.00 0.57
--------------------------------------------------------------
NRC13 47.00 54.00 7.00 1.01
--------------------------------------------------------------
NRC14 47.00 52.00 5.00 6.50
--------------------------------------------------------------
NRC15 12.00 43.00 31.00 0.62
--------------------------------------------------------------
NRC16 2.00 10.00 8.00 0.82
--------------------------------------------------------------
NRC17 32.00 45.00 13.00 0.96
--------------------------------------------------------------
NRC21 41.00 50.00 9.00 0.51
--------------------------------------------------------------
NRC23 39.00 44.00 5.00 0.99
--------------------------------------------------------------
NRC24 16.00 18.00 2.00 0.50
--------------------------------------------------------------
AND 48.00 51.00 3.00 0.92
--------------------------------------------------------------
NRC26 2.00 21.00 19.00 2.22
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NRC27 0.00 3.00 3.00 1.02
--------------------------------------------------------------
AND 12.00 20.00 8.00 0.66
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AND 27.00 36.00 9.00 1.06
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AND 44.00 54.00 10.00 0.74
--------------------------------------------------------------
NRC29 22.00 28.00 6.00 0.59
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AND 75.00 82.00 7.00 0.54
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NRC30 63.00 68.00 5.00 0.77
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NRC31 51.00 60.00 9.00 11.15
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NRC32 58.00 62.00 4.00 0.62
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NRC33 32.00 44.00 12.00 1.33
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S01N 70.70 75.00 4.30 1.26
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S02N 77.00 86.00 9.00 1.80
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S03N 92.00 95.00 3.00 2.29
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S04N 4.85 7.70 2.85 0.77
--------------------------------------------------------------
S06N 35.00 37.00 2.00 1.06
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AND 112.00 117.00 5.00 1.24
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Notes on Tables 1:
1) Intervals are core length. True width is unknown at this time.
2) Intersections are based on a 0.30 g/t Au cut-off with no top cut
applied. Internal dilution (less than 0.30 g/t Au) has been carried
to a maximum (Maximum Internal Dilution) of 3m.
3) The intersections listed in the table represent sections of at least
3m in excess of 0.5g/t Au or 2m in excess of 1g/t Au.
5) The intersections represent sections drilled by reverse circulation
(RC) and/or core drilling (see Table 2).
6) The RC portions of the drill holes were generally sampled at 1-m
intervals. Dry samples were riffle-split to provide 2 kg samples sent
to the laboratory. Wet samples were dried in the field, then
riffle-split in the same way. The cored portion of the drill holes
were generally sampled at one meter intervals and cut in half using a
diamond saw. Half-core is archived at the core storage facility on
site while the other half was sent to the laboratory.
7) Samples were sent to ALS Chemex in Ouagadougou for standard
preparation followed by Fire Assay on a 50g charge.
8) Certified standards were inserted every 15 samples, field duplicates
(in the RC portions) about every 25 and blanks about every 25 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.
The Nassara prospect is located in the southwestern corner of the Danyoro permit, one of the three contiguous permits held by Volta, which together comprise the Gaoua Project. Nassara was initially identified during soil geochemical surveys, where extensive gold-in-soil anomalism over more than 4 kilometers was found to be coincident with a distinctive northwest striking airborne magnetic lineament (see News Release of 15 September, 2009) and with magnetic, chargeability and conductivity anomalies (see News Release of 16 June, 2010). The soil geochemical grid has recently been extended to the north and south to cover the full 10 kilometers of strike highlighted by an airborne magnetic lineament. This soil survey indicates further extension of the anomalism in both directions. The extensions will soon be trenched and drill tested.
Recent soil surveying and mapping over the larger area indicate the presence of at least two more structures parallel to Nassara shear (respectively, Poni NE and Nassara SW), marked by coincident soil geochemical anomalism and magnetic signatures (See Figure No. 2 - http://files.newswire.ca/407/voltafig2.pdf).
Further trenching and drilling at Nassara, both along strike and at depth, as well as on other similar structures, will be undertaken as soon as the rainy season abates sufficiently to permit access.
TABLE 2: Borehole collar coordinates and orientation parameters
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BHID UTM_X UTM_Y RL DIP AZI-TN DEPTH RC DD
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NRC5 481695 1129096 286 55 55 90 90
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NRC6 481729 1129046 284 55 55 120 120
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NRC7 481774 1128998 282 55 55 90 90
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NRC8 481832 1128925 279 55 55 90 90
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NRC9 481902 1128875 277 55 55 90 90
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NRC10 481880 1128862 277 55 55 80 80
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NRC11 481938 1128791 277 55 55 90 90
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NRC12 481983 1128728 277 55 55 90 90
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NRC13 482030 1128666 277 55 55 90 90
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NRC14 482061 1128630 277 55 55 90 90
-------------------------------------------------------------------------
NRC15 482148 1128563 276 55 55 90 90
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NRC16 482211 1128494 279 55 55 90 90
-------------------------------------------------------------------------
NRC17 482277 1128421 280 55 55 90 90
-------------------------------------------------------------------------
NRC18 482303 1128389 280 55 55 90 90
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NRC19 482361 1128330 281 55 55 90 90
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NRC20 482416 1128285 282 55 55 90 90
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NRC21 482470 1128218 282 55 55 90 90
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NRC22 482518 1128166 282 55 55 90 90
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NRC23 482550 1128098 282 55 55 90 90
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NRC24 482587 1128038 281 55 55 90 90
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NRC25 482533 1127986 282 55 55 80 80
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NRC26 482640 1127949 278 55 55 90 90
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NRC27 482696 1127873 279 55 55 90 90
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NRC28 482721 1127808 281 55 55 90 90
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NRC29 482743 1127730 283 55 55 100 100
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NRC30 482787 1127657 284 55 55 90 90
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NRC31 482843 1127589 285 55 55 90 90
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NRC32 482931 1127470 286 55 55 90 90
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NRC33 481584 1129234 289 55 55 110 110
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S01N 481656 1129071 284 55 55 120 120
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S02N 481687 1129019 284 55 55 125 125
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S03N 482024 1128609 279 55 55 135 80.2 54.7
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S04N 482051 1128567 278 55 55 145 145
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S05N 482683 1127787 282 55 55 160 75.6 84.4
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S06N 482712 1127710 284 55 55 180 180
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Under the guidelines of National Instrument 43-101, the qualified person for the Gaoua 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.
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.
%SEDAR: 00026749E
For further information: please refer to our website www.voltaresources.com or contact: Kevin Bullock, P.Eng., President & CEO, Tel: (647) 388-1842, Fax: (416) 867-2298, Email: [email protected]; Andreas Curkovic, Investor Relations, 416-577-9927
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