One more forgotten junior is coming out from misery: Volta Resources VTR.to could be a good accumulation idea for summer before gold crossed 1000 USD/oz with all recent developments in the company.Tuesday, June 30, 2009
Volta Resources intersects 41 Metres @ 3.23 Grams per tonne of Gold at its Kampti Gold Project.
by Sam Kiri
It is always interesting to see companies engaged in the development of gold assets in West Africa and the progress they make. Unlike Central African countries West Africa has stable political environments, offers mining friendly regulatory framework and have world class deposits.
West Africa is the home for several well known mining companies such as AngloGoldAshanti (NYSE: AU), Newmont Mining (NYSE: NEM) and Randgold Resources Ltd (NASDAQ: GOLD). It is against this backdrop that we continue to follow Canadian Venture listed Volta Resources Inc. (TSX: VTR). Volta Resources is actively exploring 4,125 square kilometres of highly prospective greenstone belt in 20 properties in both Burkina Faso and Ghana. The properties are generally located on the margins of mature to emerging gold belts, the geological setting for numerous world-class gold mines in the region. VTR has continued its development endeavours in its prospect portfolio.The company’s current focus however is Kampti III and Gaoua properties both in Burkina Faso. Results from its recently completed reverse circulation ("RC") drilling program on the Maména-Fofora prospect at its 100% owned Kampti III property include intersections of 41m @ 3.23g/t gold ("Au"), 5m @ 6.84g/t Au, 6m @ 4.28g/t Au, 8m @ 4.15g/t Au and 5m @ 2.06g/t Au. Drilling confirms the presence of gold mineralization in all three target areas, with most holes intersecting anomalous gold values (>0.25g/t Au) over multiple zones. The Kampti property is located in southernmost Burkina Faso, close to the border with Ivory Coast. The project consists of one single permit (Kampti III), covering about 250km² and wholly-owned by Volta Resources. The project is characterized by a 22km-long and 4km-wide corridor, defined by several geochemical (BLEG and soil) anomalies and by geological mapping, trending NNW through the centre of the entire permit.According to Kevin Bullock, President and CEO, results have exceed their expectations and the company will follow up with more drilling that will further define the growing potential at Kampti. The next step is to undertake another auger drilling programme to infill, refine and further extend the Kampti targets in order to prepare for the next round of RC and diamond drilling. VTR is well financed and is in a position to undertake its development endeavours. Kevin Bullock intends to spend $1 million at Kampti and Gaoua properties over the next six months to December. The company has approximately $6 million in the treasury. We have brought VTR progress to our readers’ notice and will continue to follow the company.
West Africa is the home for several well known mining companies such as AngloGoldAshanti (NYSE: AU), Newmont Mining (NYSE: NEM) and Randgold Resources Ltd (NASDAQ: GOLD). It is against this backdrop that we continue to follow Canadian Venture listed Volta Resources Inc. (TSX: VTR). Volta Resources is actively exploring 4,125 square kilometres of highly prospective greenstone belt in 20 properties in both Burkina Faso and Ghana. The properties are generally located on the margins of mature to emerging gold belts, the geological setting for numerous world-class gold mines in the region. VTR has continued its development endeavours in its prospect portfolio.The company’s current focus however is Kampti III and Gaoua properties both in Burkina Faso. Results from its recently completed reverse circulation ("RC") drilling program on the Maména-Fofora prospect at its 100% owned Kampti III property include intersections of 41m @ 3.23g/t gold ("Au"), 5m @ 6.84g/t Au, 6m @ 4.28g/t Au, 8m @ 4.15g/t Au and 5m @ 2.06g/t Au. Drilling confirms the presence of gold mineralization in all three target areas, with most holes intersecting anomalous gold values (>0.25g/t Au) over multiple zones. The Kampti property is located in southernmost Burkina Faso, close to the border with Ivory Coast. The project consists of one single permit (Kampti III), covering about 250km² and wholly-owned by Volta Resources. The project is characterized by a 22km-long and 4km-wide corridor, defined by several geochemical (BLEG and soil) anomalies and by geological mapping, trending NNW through the centre of the entire permit.According to Kevin Bullock, President and CEO, results have exceed their expectations and the company will follow up with more drilling that will further define the growing potential at Kampti. The next step is to undertake another auger drilling programme to infill, refine and further extend the Kampti targets in order to prepare for the next round of RC and diamond drilling. VTR is well financed and is in a position to undertake its development endeavours. Kevin Bullock intends to spend $1 million at Kampti and Gaoua properties over the next six months to December. The company has approximately $6 million in the treasury. We have brought VTR progress to our readers’ notice and will continue to follow the company.
About Volta Resources
Volta Resources was formed through a 50/50 merger of two experienced West African explorers, Birim Goldfields Inc. and Goldcrest Resources Ltd and has a portfolio of properties in Ghana and Burkina Faso. Volta's primary focus is to become the leader in the identification, acquisition and exploration of gold properties in West Africa."
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