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Volta Resources Inc
Symbol C : VTR
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Close 2012-12-18 C$ 0.44
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Volta Resources drills 100 m of 0.47% CuEq at Gaoua

2012-12-19 13:38 ET - News Release

Mr. Kevin Bullock reports

VOLTA RESOURCES ANNOUNCES NEW PORPHYRY COPPER-GOLD MINERALIZATION AT DIENEMERA, GAOUA PROJECT, BURKINA FASO

Volta Resources Inc. has released additional results from its recently completed 131-hole, 13,528-metre reverse circulation (RC) and diamond drilling (DD) program on its Gaoua copper-gold project, located in southern Burkina Faso, West Africa. The program aimed at testing for continuity and extensions, both along strike and laterally, of the known copper-gold mineralization at Gongondy and Dienemera. Gongondy and Dienemera are two of several copper-gold porphyry targets on the Gaoua project where sufficient drilling has been undertaken to estimate a maiden National Instrument 43-101-compliant resource comprising more than one million ounces of gold and 720 million pounds of copper.

This press release includes the results from 62 reverse circulation holes (totalling 5,039 metres of drilling) drilled on the Dienemera prospect from Section 1147200N to Section 1148550N. The drilling campaign at Dienemera aimed specifically at testing an area located approximately 500 metres east of the main orebody (where previous scout drilling had intersected copper-gold mineralization), at searching for extensions along strike and along the eastern margin of the main orebody, and at infilling areas of previous wide-spaced drilling.

The drilling traced the copper-gold mineralization, located 500 metres east of the main deposit, for over more than 250 metres along strike, parallel to the main orebody. This new mineralized body remains open along strike. In addition, the drilling extended the main orebody farther to the east and to the north, and still remains open in all directions. Highlights from the current reported holes include:

  • DRC27 -- 78 metres of 0.3 per cent copper and 0.2 gram per tonne gold (0.44 per cent copper equivalent);
  • DRC29 -- 39 metres of 0.28 per cent copper and 0.3 gram per tonne gold (0.49 per cent copper equivalent);
  • DRC47 -- 34 metres of 0.35 per cent copper and 0.15 gram per tonne gold (0.45 per cent copper equivalent);
  • DRC48 -- 23 metres of 0.37 per cent copper and 0.25 gram per tonne gold (0.55 per cent copper equivalent) and 11 metres of 0.62 per cent copper and 0.22 gram per tonne gold (0.77 per cent copper equivalent);
  • DRC50 -- 100 metres of 0.34 per cent copper and 0.18 gram per tonne gold (0.47 per cent copper equivalent);
  • DRC54 -- 58 metres of 0.3 per cent copper and 0.15 gram per tonne gold (0.41 per cent copper equivalent);
  • DRC71 -- 57 metres of 0.37 per cent copper and 0.15 gram per tonne gold (0.47 per cent copper equivalent);
  • DRC72 -- 19 metres of 0.53 per cent copper and 0.19 gram per tonne gold (0.67 per cent copper equivalent);
  • DRC73 -- 61 metres of 0.38 per cent copper and 0.2 gram per tonne gold (0.52 per cent copper equivalent).

Kevin Bullock, chief executive officer of Volta Resources, said: "The latest results at Dienemera clearly illustrate a significant extension of mineralization in this deposit. Together with the extension of the Gongondy deposit (announced last week), the potential for resource growth on the Gaoua project has been enhanced. Volta is currently working with independent consultants to update the NI 43-101-compliant resource estimate for the Gaoua copper-gold project."

Volta Resources, with SRK Consulting (United Kingdom) Ltd., is scheduled to complete an updated NI 43-101-compliant resource for the Gaoua project in early first quarter of 2013, incorporating all results from holes drilled to date, including the results reported in this press release.

Significant results for the holes are highlighted in the attached table. Analyses of the Volta Resources samples were undertaken by fire assay on a 50-gram charge for gold at the Actlabs Laboratories in Ouagadougou, and by atomic absorption for copper at the Actlabs Laboratories in Ancaster, Canada. Volta Resources' sampling and assay procedures included rigorous quality assurance/quality control elements that employed the inclusion of certified standards and blanks.

      HIGHLIGHTS OF COPPER AND GOLD INTERSECTIONS 
           FOR THE REPORTED DRILL HOLES

Hole ID   From     To   Interval    CuEq      Au     Cu 
            (m)    (m)        (m)     (%)   (g/t)    (%)

DRC22    70.00  95.00      25.00    0.31    0.14   0.21                       
DRC23     0.00  27.00      27.00    0.40    0.13   0.30                       
DRC26     2.00  18.00      16.00    0.35    0.25   0.17                       
DRC27     3.00  81.00      78.00    0.44    0.20   0.30                       
DRC28    62.00  75.00      13.00    0.44    0.19   0.31                       
DRC29     0.00  39.00      39.00    0.49    0.30   0.28                       
         78.00  97.00      19.00    0.47    0.16   0.36                       
DRC36    54.00  82.00      28.00    0.32    0.07   0.27                       
DRC37    15.00  28.00      13.00    0.32    0.10   0.26                       
DRC40    28.00  66.00      38.00    0.36    0.11   0.28                       
DRC42     8.00  27.00      19.00    0.47    0.19   0.33                       
         46.00  70.00      24.00    0.44    0.15   0.34                       
DRC43    17.00  30.00      13.00    0.34    0.11   0.26                       
DRC44     6.00  31.00      25.00    0.38    0.14   0.28                       
DRC47    16.00  50.00      34.00    0.45    0.15   0.35                       
DRC48     0.00  23.00      23.00    0.55    0.25   0.37                       
         30.00  41.00      11.00    0.77    0.22   0.62                       
         54.00  78.00      24.00    0.32    0.11   0.24                       
DRC50     0.001 00.00     100.00    0.47    0.18   0.34
DRC51     4.00  52.00      48.00    0.39    0.13   0.29                       
DRC52    31.00  54.00      23.00    0.39    0.16   0.27                       
         60.00  70.00      10.00    0.38    0.13   0.29                       
DRC53     1.00  50.00      49.00    0.39    0.16   0.28
DRC54     2.00  60.00      58.00    0.41    0.15   0.30
DRC55     0.00  12.00      12.00    0.36    0.15   0.25                       
         35.00  50.00      15.00    0.37    0.14   0.27                       
DRC60    18.00  49.00      31.00    0.41    0.18   0.29                       
DRC60    74.00  99.00      25.00    0.43    0.12   0.34
DRC63     0.00  11.00      11.00    0.38    0.14   0.28                       
DRC67    16.00  26.00      10.00    0.38    0.18   0.25                       
DRC71    10.00  67.00      57.00    0.47    0.15   0.37
DRC72     1.00  15.00      14.00    0.45    0.21   0.31                       
         59.00  78.00      19.00    0.67    0.19   0.53
DRC73     0.00  61.00      61.00    0.52    0.20   0.38                         

Notes:
1) Intervals are drilled lengths. True width is 
   unknown at this time.
2) Internal dilution (less than 0.3 per cent copper 
   equivalent) has been carried out to a maximum of 
   five metres except for the intervals in hole DRC44,
   where the maximum internal dilution is six metres.
3) Intersections are based on a 0.3-per-cent-copper-
   equivalent cut-off with no top cut applied.
4) The intersections listed in the table represent 
   sections of at least 10 metres of 0.3 per cent 
   copper equivalent.
5) The intersections represent sections drilled by 
   reverse circulation. The drill holes were sampled 
   at one-metre intervals. Dry samples were riffle 
   split to provide two-kilogram samples sent to 
   the laboratory. Wet samples were dried in the 
   field, then riffle split in the same way.
6) Samples were sent to Actlabs in Ouagadougou for 
   standard preparation and gold assaying (FA) and 
   to Actlabs in Ancaster, Canada, for copper 
   assaying by atomic absorption spectrometry.
7) The accuracy of the results was tested through the 
   systematic inclusion of copper-gold standards and 
   field blanks. Standards were inserted every 15 
   samples and blanks approximately every 30 
   samples. The results for the reported holes have 
   passed the company's quality assurance/quality 
   control protocols.
8) Copper-equivalent grade was calculated using 
   $3 (U.S.) per pound copper and $1,400 (U.S.) per 
   ounce gold, and is not adjusted for mining and 
   metallurgical recoveries as these remain 
   uncertain. The formula used is as follows:
   copper equivalent equals copper per cent 
   plus (gold gram per tonne times 0.7).

On Feb. 5, 2009, the company announced an independent NI 43-101-compliant inferred resource estimate for the Gongondy and Dienemera deposits on the Gaoua project (see Volta press release dated Feb. 5, 2009). The resource estimate was calculated by SRK Consulting (United Kingdom). At a 0.45-per-cent-copper-equivalent cut-off grade, the Dienemera and Gongondy deposits host an initial inferred resource of 82.6 million tonnes grading 0.4 per cent copper and 0.4 gram per tonne gold for a total of 724.88 million pounds of copper and 1,072,900 ounces of gold. The individual resource estimate for each deposit is provided in the attached table. Copper equivalent was calculated from assumed revenues of $3,000 (U.S.) per tonne of copper and $700 (U.S.) per ounce of gold with metallurgical recovery assumed to be 85 per cent and 70 per cent, respectively, based on initial QEMSCAN results. Gold grade was multiplied by 0.6 and added to the copper grade to provide the copper-equivalent grade. The cut-off grade further assumed typical costs of $2 (U.S.) per tonne for mining, and $10 (U.S.) per tonne for processing and general administration costs.

                       NI 43-101-COMPLIANT INFERRED RESOURCE ESTIMATE

Deposit    Cut-off grade       Tonnage           Copper               Gold          Copper equivalent
                 (CuEq %)      (tonnes)     (%)         (lb)    (g/t)       (oz)    (%)           (lb) 
   
Dienemera           0.45    23,000,000    0.50   255,075,000    0.21    155,300   0.63    319,009,000
Gongondy            0.45    59,600,000    0.36   469,805,000    0.48    917,600   0.65    847,236,000
Total               0.45    82,600,000    0.40   724,880,000    0.40  1,072,900   0.64  1,166,245,000

Note: This is an estimation by SRK Consulting (United Kingdom) out of Cardiff, at a 
      0.45-per-cent-copper-equivalent cut-off grade at Dienemera and 
      Gongondy -- see news release of Feb. 5, 2009.

Under the guidelines of NI 43-101, the qualified person for the Gaoua project is 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.

We seek Safe Harbor.

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