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.