Mr. Kevin Bullock reports
VOLTA CONFIRMS CONTINUITY AND EXTENDS KHZ ZONE IN CENTRAL AREA OF THE KIAKA GOLD PROJECT
Volta Resources Inc. has released the latest results from the drilling program completed in July on the company's Kiaka gold project. The Kiaka project is located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. To date, 155 holes (22,818 metres) have been drilled in the Central area. This news release reports on some of the holes that were drilled in June and July, 2010, which were not used in the previously announced NI 43-101-compliant resource estimate for the Central area at Kiaka (see news release in Stockwatch of June 29).
A total of 44 holes for 5,738.12 metres were drilled in June and July, 2010. The results reported in an attached table relate to infill holes drilled to confirm continuity of the Kiaka hangingwall zone (KHZ) between 5350N and 5750N and to test the northward extension of the same KHZ zone to 6100N. The highlights from this drilling include:
-
KRD122: 32.0 metres at 1.0 gram per tonne gold, including 7.0 metres at 1.26 grams per tonne gold;
- KRD126: 27.0 metres at 0.70 gram per tonne gold;
- KRD125: 27.0 metres at 0.92 gram per tonne gold, including 4.0 metres at 2.69 grams per tonne gold;
- KRD123: 49.0 metres at 4.30 grams per tonne gold, including 11.0 metres at 16.83 grams per tonne gold;
- KRD131: 19.0 metres at 1.60 grams per tonne gold;
- KRD127: 31.0 metres at 1.19 grams per tonne gold, including 13.0 metres at 2.27 grams per tonne gold;
- KRD128: 31.0 metres at 0.71 gram per tonne gold, including 9.0 metres at 1.66 grams per tonne gold;
- KRD129: 27.0 metres at 0.98 gram per tonne gold, including 6.0 metres at 1.14 grams per tonne gold.
Kevin Bullock, Volta's chief executive officer, said: "These consistent results point to continuity of gold mineralization in the KHZ zone. We believe the significant intersections encountered will enhance the gold resources attributable to the KHZ within the heart of the Central area and also along strike to the north."
Results for the holes covered by this news release are highlighted in an attached table. Highlights from former Randgold (labelled with prefix RRL) and Volta holes have been added to the table in order to better appreciate the extent and geometry of the mineralization. Analyses of the Volta samples were undertaken by fire assay on a 50-gram charge at ALS Chemex Laboratories in Ouagadougou. Volta's sampling and assay procedures included quality assurance/quality control (QA/QC) elements that employed the inclusion of certified standards and blanks.
HIGHLIGHTS OF GOLD INTERSECTIONS
From To Interval Grade MID
Section Hole ID (m) (m) (m) (g/t) (m) Zone Comment
5400N KRD108 68.00 87.00 19.00 0.94 4 KHZ
Including 71.40 75.00 3.60 1.73 1
KRD122 54.00 86.00 32.00 1.00 5 KHZ
Including 57.00 64.00 7.00 1.26 2
Including 82.20 85.00 2.80 4.61 0
5450N KRD102 60.30 77.00 16.70 0.97 4 KHZ
Including 67.00 68.80 1.80 4.73 0
5550N KRD124 1.00 6.00 5.00 1.18 0 KHZ
And 101.00 119.00 18.00 0.69 4
And 160.95 167.55 6.60 1.51 1
Including 164.00 167.55 3.55 2.57 2
And 173.00 183.00 10.00 0.65 2
RRL-KDH21 119.00 134.00 15.00 0.92 2 KHZ
Including 119.00 123.00 4.00 1.95 2
And 141.00 164.00 23.00 1.02 5
Including 150.00 154.00 4.00 4.12 1
5600N KRD126 42.00 69.00 27.00 0.70 4 KHZ
And 99.40 130.16 30.76 0.57 3 Ended in
mineralization
KRD125 7.00 21.00 14.00 0.54 5 KHZ
Including 10.00 13.00 3.00 1.29 0
And 49.00 64.00 15.00 0.80 3
Including 96.20 100.00 3.80 1.40 1
And 148.00 175.00 27.00 0.92 4
Including 156.00 159.00 3.00 2.77 1
Including 171.00 175.00 4.00 2.69 1
5650N KRD123 67.00 116.00 49.00 4.30 3 KHZ
Including 67.00 70.00 3.00 1.22 2
Including 74.00 85.00 11.00 16.83 1
Including 101.00 108.00 7.00 0.85 1
Including 112.00 116.00 4.00 1.06 1
And 125.00 128.00 3.00 1.16 1
KRD68 29.00 49.00 20.00 1.47 1 KHZ
Including 29.00 34.00 5.00 1.79 2
Including 39.00 48.00 9.00 2.04 1
5700N KKRC34 30.00 40.00 10.00 1.55 5 KHZ
Including 36.00 39.00 3.00 3.85 1
5750N KRD131 27.00 34.00 7.00 1.13 0 KHZ
Including 27.00 32.00 5.00 1.60 2
And 51.00 70.00 19.00 1.60 2
5950N KRD134 42.00 83.00 41.00 0.64 4 KHZ
6000N KRD127 69.00 100.00 31.00 1.19 4 KHZ
Including 83.00 96.00 13.00 2.27 2
KRD130 6.25 33.25 27.00 0.59 4 KHZ
Including 22.25 25.25 3.00 1.25 0
And 76.00 93.00 17.00 0.62 2
6050N RRL-KDH19 50.00 76.00 26.00 0.59 2 KHZ
And 83.00 116.00 33.00 0.59 4
Including 111.00 115.00 4.00 1.39 0
And 251.00 327.00 76.00 0.52 5
Including 264.00 269.00 5.00 1.94 2
Including 308.00 315.00 7.00 1.07 1
6100N KRD128 59.00 90.00 31.00 0.71 4 KHZ
Including 79.00 88.00 9.00 1.66 2
KRD129 0.00 27.00 27.00 0.98 1 KHZ
Including 13.00 19.00 6.00 1.14 2
Including 23.00 26.00 3.00 3.84 1
And 33.00 66.00 33.00 0.52 5
Including 35.00 40.00 5.00 1.02 1
And 76.00 91.00 15.00 0.66 2
Including 86.00 90.00 4.00 1.21 1
Notes:
(1) Intervals are core length. True width is unknown at this time.
(2) Intersections are based on a 0.3-gram-per-tonne gold cut-off with maximum
internal dilution (MID) of five metres for the lower-grade mineralization
envelope.
(3) In order to highlight the continuity of the high grade zone, a
0.8-gram-per-tonne gold cut-off with maximum internal dilution of two metres
has been used. No top cut has been applied.
(4) The intersections listed in the table represent sections of at least three
metres in excess of one gram per tonne gold and/or sections of at least 10 metres
in excess of 0.5 gram per tonne gold.
(5) The intersections represent sections drilled by reverse circulation (RC)
and/or cored drilling.
(6) The RC portions of 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. The cored
portion of the drill holes were sampled at one-metre intervals and cut in half
using a diamond saw. Half of the core is archived at the core storage facility
on site, while the other half was sent to the laboratory.
(7) Samples were sent to ALS Chemex in Ouagadougou for standard preparation
followed by fire assay on a 50-gram charge.
(8) Certified standards were inserted every 15 samples, field duplicates (in the
RC portions) about every 20 and blanks about every 30 samples. The blanks,
certified standards and duplicate assays confirm that all assays used to compile
the intersections quoted here have passed Volta's rigorous QA/QC checks.
The current drilling has enabled the tracing of significant mineralization in the KHZ for 750 metres, from Section 5350N to Section 6100N. The KHZ in the Central area falls within the area of the open-pit shell defined by SRK (UK) during the definition of the NI 43-101-compliant resource; however, the results in this release were not received prior to the cut-off date in June, 2010.
The company will shortly release the results from drilling undertaken just south of the defined resource in the Central area and from exploratory drilling undertaken in the South area.
Under the guidelines of National Instrument 43-101, the qualified person for the Kiaka gold 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.
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