- Intersects 100.0 meters at 0.47% copper-equivalent -
- And 61.0 meters at 0.52% copper-equivalent -
TORONTO, Dec. 19, 2012 /CNW/ - Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces additional results from its recently completed 131 hole,
13,528 metres, reverse circulation (RC) and diamond drilling (DD)
program on its Gaoua copper-gold project, located in southern Burkina
Faso, West Africa (see Figure 1). 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 NI43-101 compliant resource comprising more than 1 million
ounces of gold and 720 million pounds of copper (see table 3).
This press release includes the results from 62 reverse circulation
holes, totalling 5,039m 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 some 500m 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-space drilling.
The drilling traced the copper-gold mineralization, located 500 m east
of the main deposit, for over more than 250m along strike, parallel to
the main orebody (see Figure 2). This new mineralized body remains open
along strike. In addition, the drilling extended the main orebody
further to the east and to the north and still remains open in all
directions. Highlights from the current reported holes include:
DRC27: 78.0m @ 0.30 % Cu and 0.20g/t Au (0.44% CuEQ)
DRC29: 39.0m @ 0.28 % Cu and 0.30g/t Au (0.49% CuEQ)
DRC47: 34.0m @ 0.35 % Cu and 0.15g/t Au (0.45% CuEQ)
DRC48: 23.0m @ 0.37 % Cu and 0.25g/t Au (0.55% CuEQ) AND
DRC48: 11.0m @ 0.62 % Cu and 0.22g/t Au (0.77% CuEQ)
DRC50: 100.0m @ 0.34 % Cu and 0.18g/t Au (0.47% CuEQ)
DRC54: 58.0m @ 0.30 % Cu and 0.15g/t Au (0.41% CuEQ)
DRC71: 57.0m @ 0.37 % Cu and 0.15g/t Au (0.47% CuEQ)
DRC72: 19.0m @ 0.53 % Cu and 0.19g/t Au (0.67% CuEQ)
DRC73: 61.0m @ 0.38 % Cu and 0.20g/t Au (0.52% CuEQ)
Kevin Bullock, Volta Resources' CEO, 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 NI43-101 compliant resource estimate for the
Gaoua Copper-Gold Project."
Volta Resources, with SRK Consulting (UK), is scheduled to complete an
updated NI 43-101 compliant resource for the Gaoua Project in early Q1,
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 Table 1 and
locations shown in Figure 2. Analyses of the Volta Resources samples
were undertaken by fire assay on a 50g 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 QA/QC elements that employed the
inclusion of certified standards and blanks.
Table 1: Highlights of Copper and Gold Intersections for the Reported
Drill Holes
HOLE ID | FROM (m) | TO (m) | INTERVAL (m) | CuEQ (%) | Au (g/t) | Cu (%) | REMARKS |
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
|
0.00
|
100.00
|
100.00
|
0.47
|
0.18
|
0.34
|
ENDED IN MINERALIZATION
|
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
|
ENDED IN MINERALIZATION
|
DRC54
|
2.00
|
60.00
|
58.00
|
0.41
|
0.15
|
0.30
|
ENDED IN MINERALIZATION
|
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
|
ENDED IN MINERALIZATION
|
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
|
ENDED IN MINERALIZATION
|
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
|
ENDED IN MINERALIZATION
|
DRC73
|
0.00
|
61.00
|
61.00
|
0.52
|
0.20
|
0.38
|
|
Table Notes:
1) Intervals are drilled lengths. True width is unknown at this time.
2) Internal dilution (less than 0.3 % CuEQ) has been carried out to a
maximum of 5m except for the intervals in hole DRC44,where the maximum
internal dilution (MID) is 6m.
3) Intersections are based on a 0.3% CuEQ cut-off with no top cut
applied.
4) The intersections listed in the table represent sections of at least
10m@ 0.3% CuEQ.
5) The intersections represent sections drilled by reverse circulation
(RC). The drill holes were sampled at 1m 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.
6) Samples were sent to Actlabs in Ouagadougou for standard preparation
and gold assaying (FA) and to Actlabs in Ancaster/Canada for Cu
assaying by atomic absorption spectrometry.
7) The accuracy of the results was tested through the systematic
inclusion of Cu-Au 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 QA/QC protocols.
8) Copper equivalent grade was calculated using US$3.00/lb Cu and
US$1400/oz. Au and is not adjusted for mining and metallurgical
recoveries as these remain uncertain. The formula used is as follows:
CuEQ = Cu% + (Au g/t x 0.7).
TABLE 2: Collar Coordinates and Orientation Parameters
SECTION | HOLEID | UTM_X | UTM_Y | UTM_Z | DEPTH (m) | DIP (degrees) | AZIMUTH (degrees) |
1147200N
|
DRC56
|
497948
|
1147211
|
328
|
53
|
-60
|
90
|
DRC57
|
497974
|
1147197
|
333
|
62
|
-60
|
90
|
DRC58
|
498008
|
1147197
|
334
|
38
|
-60
|
90
|
DRC59
|
498027
|
1147201
|
334
|
40
|
-60
|
90
|
1147500N
|
DRC63
|
498501
|
1147498
|
338
|
42
|
-60
|
90
|
DRC64
|
498522
|
1147503
|
331
|
55
|
-60
|
90
|
DRC62
|
498451
|
1147500
|
331
|
49
|
-60
|
90
|
DRC65
|
498450
|
1147497
|
334
|
95
|
-60
|
90
|
DRC66
|
498550
|
1147503
|
331
|
70
|
-60
|
90
|
DRC67
|
498585
|
1147500
|
333
|
100
|
-60
|
90
|
DRC68
|
498635
|
1147500
|
332
|
100
|
-60
|
90
|
DRC69
|
498685
|
1147500
|
332
|
70
|
-60
|
90
|
1147625N
|
DRC26
|
498050
|
1147625
|
323
|
100
|
-60
|
90
|
DRC27
|
498100
|
1147620
|
320
|
100
|
-60
|
90
|
DRC28
|
498150
|
1147625
|
322
|
100
|
-60
|
90
|
DRC29
|
498451
|
1147624
|
330
|
100
|
-60
|
90
|
DRC30
|
498600
|
1147625
|
320
|
100
|
-60
|
90
|
DRC31
|
498650
|
1147625
|
320
|
91
|
-60
|
90
|
DRC60
|
498396
|
1147623
|
329
|
99
|
-60
|
90
|
DRC61
|
498552
|
1147634
|
332
|
100
|
-60
|
90
|
1147750N
|
DRC70
|
498425
|
1147750
|
334
|
100
|
-60
|
90
|
DRC71
|
498480
|
1147750
|
333
|
67
|
-60
|
90
|
DRC72
|
498513
|
1147750
|
331
|
78
|
-60
|
90
|
DRC73
|
498552
|
1147750
|
332
|
91
|
-60
|
90
|
DRC74
|
498598
|
1147750
|
332
|
100
|
-60
|
90
|
DRC75
|
498648
|
1147749
|
336
|
80
|
-60
|
90
|
1147850N
|
DRC22
|
498500
|
1147850
|
328
|
100
|
-60
|
90
|
DRC23
|
498550
|
1147850
|
330
|
100
|
-60
|
90
|
DRC24
|
498596
|
1147849
|
331
|
100
|
-60
|
90
|
DRC25
|
498650
|
1147850
|
332
|
100
|
-60
|
90
|
1148025N
|
DRC45
|
497825
|
1148025
|
313
|
55
|
-60
|
90
|
DRC46
|
497852
|
1148025
|
321
|
71
|
-60
|
90
|
DRC47
|
497887
|
1148025
|
322
|
53
|
-60
|
90
|
DRC48
|
497916
|
1148025
|
316
|
100
|
-60
|
90
|
DRC49
|
497966
|
1148025
|
323
|
80
|
-60
|
90
|
DRC50
|
498013
|
1148025
|
330
|
100
|
-60
|
90
|
DRC51
|
498134
|
1148023
|
332
|
61
|
-60
|
90
|
DRC52
|
498104
|
1148020
|
331
|
70
|
-60
|
90
|
DRC53
|
498065
|
1148010
|
330
|
50
|
-60
|
90
|
DRC54
|
498087
|
1148016
|
325
|
60
|
-60
|
90
|
DRC55
|
498161
|
1148048
|
334
|
94
|
-60
|
90
|
1148300N
|
DRC32
|
497778
|
1148301
|
315
|
80
|
-60
|
90
|
DRC33
|
497808
|
1148300
|
314
|
37
|
-60
|
90
|
DRC34
|
497825
|
1148300
|
314
|
37
|
-60
|
90
|
DRC35
|
497846
|
1148294
|
320
|
34
|
-60
|
90
|
DRC36
|
497860
|
1148290
|
316
|
85
|
-60
|
90
|
DRC37
|
497901
|
1148302
|
313
|
85
|
-60
|
90
|
DRC38
|
497945
|
1148308
|
313
|
88
|
-60
|
90
|
DRC39
|
497997
|
1148301
|
318
|
94
|
-60
|
90
|
DRC40
|
498049
|
1148302
|
331
|
100
|
-60
|
90
|
DRC41
|
498107
|
1148303
|
330
|
100
|
-60
|
90
|
DRC42
|
498155
|
1148300
|
336
|
82
|
-60
|
90
|
DRC43
|
498194
|
1148298
|
334
|
98
|
-60
|
90
|
DRC44
|
498246
|
1148246
|
330
|
100
|
-60
|
90
|
1148550N
|
DRC13
|
497775
|
1148550
|
314
|
88
|
-60
|
90
|
DRC14
|
497825
|
1148550
|
309
|
79
|
-60
|
90
|
DRC15
|
497870
|
1148550
|
312
|
100
|
-60
|
90
|
DRC16
|
497924
|
1148549
|
321
|
100
|
-60
|
90
|
DRC17
|
497976
|
1148550
|
327
|
100
|
-60
|
90
|
DRC18
|
498026
|
1148545
|
326
|
100
|
-60
|
90
|
DRC19
|
498075
|
1148549
|
332
|
44
|
-60
|
90
|
DRC20
|
498123
|
1148565
|
343
|
70
|
-60
|
90
|
DRC21
|
498164
|
1148565
|
336
|
64
|
-60
|
90
|
On February 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 February 5
2009). The resource estimate was calculated by SRK Consulting (UK) Ltd.
At a 0.45% copper equivalent cut-off grade, the Dienemera and Gongondy
deposits host an initial Inferred Resource of 82,600,000 tonnes grading
0.40% copper and 0.40 g/t gold for a total of 724,880,000 lbs. of
copper and 1,072,900 ounces of gold. The individual resource estimate
for each deposit is provided in the table below. Copper Equivalent
("CuEQ") was calculated from assumed revenues of USD 3,000 per tonne of
copper and USD 700 per ounce of gold with metallurgical recovery
assumed to be 85% and 70% respectively based on initial QEMSCAN
results. Gold grade was multiplied by 0.6 and added to the copper grade
to provide CuEQ grade. The cut-off grade further assumed typical costs
of USD 2 per tonne for mining and USD 10 per tonne for processing and
general administration costs.
Table 3: NI 43-101 compliant Inferred Resource estimate
DEPOSIT | Cut-off Grade | Tonnage | Copper | Gold | Copper Equivalent |
(CuEQ %) | (tonnes) | % | lbs. | g/t | Oz | % | lbs. |
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 |
Estimation by SRK Consulting (UK) Ltd. out of Cardiff, at a 0.45% copper
equivalent cut-off grade at Dienemera and Gongondy - see News Release
of 5 February 2009.
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.
About Volta Resources:
Volta Resources has a portfolio of quality gold exploration projects in
Burkina Faso and Ghana, both mining-friendly West African jurisdictions
with proven world-class gold deposits. VTR will focus on fast-tracking
its flagship Kiaka Gold Project (NI-43-101 compliant resources include
117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the
Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t
Au for 1,000,000 ounces in the Inferred category [Please see VTR press
release dated March 21, 2012] including 34.38 million tonnes @ 1.04 g/t
Au for 1,145,969 ounces of gold in the Proven category and 91.70
million tonnes @ 0.93 g/t Au for 2,742,353 ounces of gold in the
Probable category (Please see VTR press release dated May 3, 2012)
towards a development decision, aiming to complete a Feasibility Study
in Q3, 2013. Recent acquisition of properties around the Kiaka Gold
Project has provided VTR with an extensive ground position along the
highly prospective Markoye Fault Corridor in an important emerging gold
province.
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 Resources 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 Resources 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.
Image with caption: "Figure 1: Location of the Gaoua Project and the Dienemera Deposit (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20121219_C2390_PHOTO_EN_22108.jpg
Image with caption: "Figure 2: Drill hole collars and current highlights for the Dienemera Cu-Au Porphyry Deposit (CNW Group/Volta Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20121219_C2390_PHOTO_EN_22109.jpg
SOURCE: Volta Resources Inc.
<p> For further information, please refer to our website <a href="http://www.Voltaresources.com">www.Voltaresources.com</a> or contact: </p> <p> <b>Kevin Bullock, P.Eng., President & CEO </b><br/> Tel: (416) 867-2299<br/> Fax: (416) 867-2298<br/> Email: <a href="mailto:kbullock@Voltaresources.com">kbullock@Voltaresources.com </a> </p> <p> or </p> <p> <b>Andreas Curkovic, Investor Relations</b><br/> Tel: (416) 577-9927 </p>