Volta Resources Inc. - Encouraging drill results for Tinga Property, Ghana
Mon Apr 14, 9:02 AM
ca.news.finance.yahoo.com
TSX: VTR
TORONTO, April 14 /CNW/ - Volta Resources Inc. ("Volta") (TSX: VTR.TO) is pleased to announce the results of the recent reverse circulation (RC) drill campaign in Ghana, West Africa at its wholly-owned Tinga Property, where the Company has already has established a NI 43-101 compliant resource of 232,000 ounces gold on the property in the Far East gold deposit.
The 5,479-meter (m) RC drill program (see map below) addressed the triple
aims of:
- Delineating the strike extensions of the main mineralization of the
Far East deposit;
- Investigating the strike continuity of an untested footwall zone of
mineralization at Tinga Far East (7 m at 2.07 grams/tonne (g/t) gold
(Au)); and,
- Scout drilling the recently refined gold-in-soil anomalies (8 targets
with a combined strike length of 6,200 m) within 3 kilometers (km) of
the Far East deposit.
The northern strike extension of the Far East deposit was successfully defined by narrow, low-grade intercepts in holes BTI060 (1 m @ 1.21 g/t Au from 31 m) and BTI065 (4 m @ 0.37 g/t Au from 49 m). It is anticipated that the mineralization will continue along strike in a similar manner towards the north and south.
Further drilling to examine the strike continuity of an untested footwall zone from a previous intersection of 7 m at 2.07 g/t Au, (see Birim Goldfields October 30, 2007 news release) did not support the theory of it being a footwall zone; however it did uncover mineralization in a number of new intercepts in the Far East deposit.. These include:
Table 1*
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Grade
Hole ID From (m) To (m) Width (m) (g/t Au)
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BTI067 22 34 12 4.45
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BTI067 including 22 31 9 5.85
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BTI072 14 17 3 6.47
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BTI072 including 15 17 2 9.59
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BTI080 9 15 6 4.25
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Scout drilling on gold-in-soil anomalies, proximal to the Far East deposit, has successfully intersected the mineralized sources of the anomalies, an outcome which has validated the soil re-sampling effort that preceded the drilling. These intercepts provide a starting point from which further drilling is warranted along strike to further define the mineralization. Scout drilling intercepts from these two phases of RC drilling (drill holes prefixed BTI total 6,767 m) include:
Table 2*
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Grade
Hole ID From (m) To (m) Width (m) (g/t Au)
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BTI003 54 55 1 2.16
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BTI005 14 18 4 1.30
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BTI006* 26 46 20 0.50
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BTI006* including 29 34 5 1.32
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BTI010 35 39 4 0.64
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BTI016* 18 20 2 8.82
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BTI017 59 62 3 0.94
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BTI018 20 23 3 0.65
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BTI018 42 43 1 2.19
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BTI018 52 56 4 0.81
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BTI019 18 34 16 0.33
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BTI024 9 10 1 3.82
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BTI025 4 6 2 1.83
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BTI026 19 21 2 1.05
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BTI028 50 51 1 2.20
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BTI036 4 19 15 0.25
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BTI036 including 10 15 5 0.51
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BTI043 14 28 14 0.42
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BTI043 including 19 21 2 1.45
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BTI045 56 59 3 0.94
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BTI046 24 25 1 3.14
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BTI046 57 64 7 1.74
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BTI046 including 57 60 3 3.73
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BTI050 11 24 13 0.61
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BTI050 including 15 20 5 1.00
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BTI051 16 28 12 0.47
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BTI054 60 65 5 3.43
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BTI054 including 60 61 1 15.87
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BTI057 65 67 2 1.09
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BTI086 35 38 3 2.53
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BTI086 including 35 36 1 6.34
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BTI094 74 77 3 0.97
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BTI097 40 43 3 1.08
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* Italicized results previously released May 15, 2007
At the 'B' Prospect (see map), Volta is very encouraged by the intersection of wide and shallow, sub horizontal zones of low-grade disseminated sulphide-hosted gold mineralization in the dioritic host rock, usually associated with quartz veins. This may imply similarities in metallurgy between the Far East deposit and the 'B' Prospect, which to date has only revealed quartz vein-hosted mineralization in artisanal workings. These sub horizontal mineralized sulphide zones are likely to be the cause of the very broad gold-in-soil anomalies and further drilling is warranted to define the extent of these zones.
Mr. Craig Pearman, Volta's Exploration Manager, directly oversees the Company's exploration programs in Ghana and has reviewed this press release. Mr. Pearman is a Qualified Person as defined in National Instrument 43-101 and is registered as a Professional Natural Scientist by the South African Council for Natural Scientific Professions (SACNASP).
*Table 1 and 2 Notes
Drilling:
1. All quoted intersections were drilled using reverse circulation.
2. All intercept widths are uncorrected due to the use of reverse
circulation.
3. Drilling was conducted towards 315o magnetic at inclinations of
-50 (degrees).
4. Down hole surveys were performed at maximum intervals of 30 meters.
Assays:
1. Drill results are for 1m interval riffle split RC samples and are
quoted to 2 decimal places.
2. Laboratory sample preparation comprised of drying and jaw crushing of
a (greater than)2kg RC sample, followed by pulverizing of a riffle-
split 2kg sub-sample. Samples were assayed at Transworld Laboratory
in Tarkwa, Ghana using 50g Fire Assay with Atomic Absorption
Spectrometry (AAS) finish.
QA/QC:
1. Internationally recognized standard reference materials, duplicate
samples and blank samples were routinely inserted into the sample
sequence on a 5% basis.
2. Birim applies rigorous QA/QC procedures to ensure that the quality of
the sample results plot within acceptable limits.
3. Certified digital assay data received from the laboratory is imported
into an acQuire database and integrated with geological drill data
that is digitally captured into acQuire at the drill rig. Validation
parameters are established in the database to ensure quality control.
4. Intercepts reported are all greater than 2 gram meters and are
constrained with a 0.2 g/t lower cut-off grade, no high cut-off
grade, and up to a maximum of 4m (consecutive) of internal dilution
((less than)0.2 g/t). The 0.2 g/t gold cut-off best expresses the
lower-grade envelope.
To view map: files.newswire.ca
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.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Contacts
please refer to our website www.Voltaresources.com or contact: Kevin Bullock
P.Eng.
President & CEO
Tel: (647) 388-1842
Fax: (416) 867-2298
Email: kbullock@voltarestresources.com
Investor Relations: Vancouver
Farah Alibhai
Tel: (604) 731-7340
Email: falibhai@voltaresources.com
Investor Relations: Toronto
Greg Taylor
Tel: (905) 337-7673
Email: gtaylor@voltaresources.com |
