Volta Resources Commences a 2,400m RC Drilling Program at Kampti Gold Project, Burkina Faso
Mon Apr 7, 12:52 PM
ca.news.finance.yahoo.com
TORONTO, April 7 /CNW/ - Volta Resources Inc. ("Volta" or "the Company"), (TSX: VTR.TO) is pleased to announce that it has commenced a 2,400-metre Reverse Circulation ("RC") drilling program on its 100% owned Kampti project in southern Burkina Faso.
Holes will be drilled to depths of up to 120 metres to assess 4 target areas determined by the Company's previous drilling programs and by the re-interpretation of geophysical surveys and a recent, third-party, structural analysis.
"This program at Kampti marks the first drilling undertaken under the Volta banner and the first of a number of aggressive exploration programs on our advanced properties in Burkina Faso and Ghana planned for the 2008 field season," stated Vic King, Volta's Chief Operating Officer. "In this case, we look forward to providing results from Maména-Fofora, a prospect with a combination of encouraging first round drilling results from a continuous and extensive structure, confirmed by ground geophysics, along a geochemically anomalous zone with very active artisanal mining activity. "
The drill program, to be carried out over the Maména-Fofora prospect in the northernmost part of the Kampti permit (See Figure No.1 - files.newswire.ca, is designed to test a number of prominent structural features, defined by coincident chargeable and resistive zones identified during a gradient array induced polarization ("IP") survey undertaken by the Company. These structures extend for several kilometres along strike and are relatively wide (+30m). They host several artisanal gold workings along trend. Previous drilling (see Goldcrest Resources Ltd. news release, January 25, 2007) on some of these structures returned encouraging gold intersections such as 28m @ 3.64 g/t Au, 16m @ 1.76 g/t Au, 3m @ 63.52 g/t Au and 12m @ 1.32 g/t Au(1).
The program will also test a series of parallel veins along which intensive artisanal mining has recently started in the westernmost part of the Maména-Fofora area. The veins occur in basic-intermediate volcanic rocks, locally characterized by the presence of abundant sulphides (pyrite). This specific drilling target has not been tested by previous geophysical surveys. The program is underway with one drill rig from West African Drilling Services. It is scheduled to be completed in approximately 2 weeks with the results of the program expected in May.
In tandem, the Company is pursuing its exploration efforts on other parts of the Kampti permit. A +30km(2) ground IP survey is scheduled to begin in mid-April in support of the detailed geological mapping and soil sampling conducted in 2007 over most of the Kampti property. The geochemical soil survey defined a number of larger, gold-anomalous areas that warrant further investigation. These areas will be covered by gradient array IP survey on a 200 x 25m grid. The results will assist in the definition of new drill targets.
Under the guidelines of National Instrument 43-101, the qualified person for the Kampti 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 Resources Inc. was created following a 50/50 merger of two experienced West African explorers, Birim Goldfields Inc. and Goldcrest Resources Ltd. The newly formed Company remains Canadian-based with its head office in Toronto, Ontario and operations offices in Accra, Ghana and Ouagadougou, Burkina Faso. Volta is a mineral exploration company primarily focused on becoming the leader in the identification, acquisition and exploration of gold properties in West Africa.
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 believes 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 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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(1) The above intersections are based on a 0.2 g/t gold cut-off with no top cut applied. Internal dilution (less than 0.2 g/t gold) has been carried to a maximum of 6m. The 0.2 g/t gold cut-off best expresses the lower-grade envelope in which the high-grade mineralized systems occur. The intersections are not true widths.
Contacts
Investor Relations (Vancouver): Farah Alibhai
Tel: (514) 393-8611
Email: farah@birim.com
Investor Relations (Toronto): Greg Taylor
Tel: (905) 337-7673
Email: gtaylor@voltaresources.com |
