– Volta intersects 42.7m @ 1.21g/t on the KMZ Zone at Kiaka –
Toronto, ON – January 19, 2010 – Volta Resources Inc. (“Volta” or the “Company”) (TSX: VTR) announced today the drill results from the next completed section at its Kiaka Gold Project, located approximately 120 kilometres southeast of Ouagadougou, the capital city of Burkina Faso. The company commenced an aggressive drilling program comprising more than 150 holes for more than 22,000 metres on November 22nd, 2009 (see Figure 1). 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, 17 holes have been completed, with results already received for the first 5 holes.
The highlights from the results for the most recently completed 2 holes, which were drilled on Section 5350N, have been received from ALS Chemex Laboratories in Ouagadougou. They include:
* KRD30 from 0.00 to 56.30m – 56.30m @ 0.73 g/t gold
o Including – 8.00m @ 1.26 g/t gold
* And from 86.30 to 129.99m – 42.70m @ 1.21 g/t gold
o Including – 25.70m @ 1.71 g/t gold
* KRD31 from 53.00 to 90.00m – 36.70m @ 1.32 g/t gold
o Including – 14.00m @ 2.31 g/t gold
Vic King, Volta’s COO, said, “We are excited that these new results continue the success established by the first holes. Our infill drilling continues to intersect wide mineralization at the KMZ zone confirming previous results defined by Randgold on the same section in holes KDH03 and KDH15. More importantly, the higher grade zones defined in the cross section 100m to the southwest can be traced along strike, providing additional confidence in the continuity of the mineralization.”
Volta’s current drill program will test 1,200m of 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 deep. 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 deep. 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 5350N section, the results for the two Volta holes and two of Randgold’s holes are highlighted in 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.
1 ) Intervals are core length. True width is unknown at this time.
2 ) Intersections are based on a 0.3 g/t gold cut-off with maximum internal dilution of 5m for the lower grade mineralization envelope (increased to 6m for KDH03 and KRD30).
3 ) 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. No top cut has been applied.
4 ) The intersections listed in the table represent sections of at least 3m in excess of 1g/t Au and/or sections of at least 10m in excess of 0.5g/t Au.
5 ) The intersections also represent sections drilled by reverse circulation (RC) and/or cored drilling (see table 2).
6 ) The RC portions of the drill holes were sampled at 1-m 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.
The core portions of the drill holes were sampled at one metre intervals and cut in half using a diamond saw. Half-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 50g charge.
8 ) Certified standards were inserted every 15 samples, field duplicates 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 Kiaka gold project lies at the intersection of the northeast striking Tenkodogo greenstone belt and the regionally significant north striking Markoye Fault, in whose proximity some of the larger gold resources discovered in Burkina Faso so far, have been discovered. These include Iamgold’s Essakane deposit (5.1 M oz), High River Gold’s Taparko deposit (1.7 M oz), Orezone’s Bombore deposit (2.1 M oz) and Etruscan’s Youga deposit (1.5 M oz).
TABLE 2: Borehole collar coordinates and orientation parameters
Under the guidelines of National Instrument 43-101, the qualified person for the Kiaka Gold 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.
Volta is a mineral exploration company primarily focused on becoming a leader in the identification, acquisition and exploration of gold properties in West Africa. The Company is committed to West African exploration and is Canadian-based with its head office in Toronto, Ontario and operations offices in Accra, Ghana and Ouagadougou, Burkina Faso.
For further information, please refer to our website www.Voltaresources.com or contact:
Kevin Bullock, P.Eng., President & CEO
Tel: (647) 388-1842
Fax: (416) 867-2298
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 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 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.
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