Wednesday, December 16, 2009

Gold in Africa: Volta confirms wide gold mineralization, including higher grade intercepts, at its Kiaka Gold Project in Burkina Faso VTR.v, SGC.v, GG

Volta Resources is up today 85% on its confirmation of wide gold mineralisation at Kiaka Gold project.
Press Release Source: Volta Resources Inc. On Wednesday December 16, 2009, 9:52 am EST
-Volta intersects 136m (at) 1.66g/t on the KMZ Zone at Kiaka-
TSX: VTRTORONTO, Dec. 16 /CNW/ - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR - News) announces the results from the first 3 holes completed on it's Kiaka Gold Project, located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. Volta acquired the property from Randgold Resources, with the transaction being approved by shareholders on November 13th, 2009. The company commenced an aggressive drilling program comprising more than 150 holes for over 22,000 metres on November 22nd, 2009 (see Figure 1 -;_ylu=X3oDMTE2bGlvMTc4BHBvcwMzBHNlYwNuZXdzYXJzdGFydARzbGsDaHR0cGZpbGVzbmV3/SIG=11l9122k3/**http%3A// Volta intends to complete the program by the end of April 2010 and to finalize a National Instrument 43-101 ("NI43-101") compliant resource before the end of June 2010. To date, 9 holes have been completed.
The results for the first 3 holes drilled on Section 5250N have already been received from ALS Chemex Laboratories in Ouagadougou. The highlights include:
Kevin Bullock, Volta's President and CEO, said, "These first impressively wide intersections clearly support Kiaka's historical potential outlined by Randgold. More importantly, they bode well for Volta's decision to aggressively focus on Kiaka as its premier development project."
Vic King, Volta's COO, said, "The results from Volta's infill drillholes confirm the impressive width of the KMZ zone, previously defined by Randgold on the same section in holes KDH05 and KDH14. More importantly, Volta's closer drill spacing has better defined the continuity on the section of discrete higher grade zones. These were initially observed during Volta's due diligence review of the project. Our logging has confirmed that the higher grade zones can be broadly correlated with brittle-ductile deformation, a strong secondary structural fabric and a distinct alteration assemblage. These relationships will facilitate confidently tracking these higher grade zones from section to section, thereby improving geological modeling and resource estimation, with positive implications for improving overall project economics."
Volta's current drill program will test 1,200m strike of the 2,800m long KMZ zone and 500m of the 700m long KHZ zone. The program will infill and extend drilling such that the KMZ zone is drilled to 50m x 50m spacing from surface to a 150m depth and 100m x 50m from 150m to 200m depth. On the narrower KHZ zone, drill spacing will be 50m x 50m from surface to a 100m depth and 100m x 50m from 100m to 150m. Planning and optimization of the drill program was undertaken with input from SRK Consulting (UK) to ensure that the delivery of the independent resource consultant's NI 43-101 compliant resource is delivered as efficiently as possible.
In order to appreciate the extent and geometry of the mineralization on the 5250N section, the results for the three Volta holes and two of Randgold's holes are highlighted in the Table1 below and on the section (see Figure 2 - Analyses of the Volta samples were undertaken by fire assay on a 50g charge at ALS Chemex Laboratories in Ouagadougou. Both Volta and Randgold sampling and assay procedures included QA/QC elements that employed the inclusion of certified standards and blanks.
The intersections listed in the Table 1 below are based on a 0.3 g/t gold cut-off with maximum internal dilution of 5m for the lower grade mineralization envelope. In order to highlight the continuity of the high grade zone, a 0.8 g/t gold cut-off with maximum internal dilution of 2m has been used. Details of the drilling are provided in
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