Higher grade lenses support phased development and selective mining approach at Volta Resources' Kiaka Gold Project
Friday, Jan 11, 2013
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces an updated NI 43-101 compliant Mineral Resource estimate for the Kiaka Gold Project, located approximately 140km southeast of Ouagadougou in southern Burkina Faso. The updated Mineral Resource estimate has been undertaken by independent SRK Consulting (UK) Limited from Cardiff, with input from Volta's geological team. The update follows completion of an additional 233 holes (38,602m) drilled in Phase 4 at the Kiaka Central Area. Including the Randgold drilling (18 holes) and Volta's drilling phases 1 to 3, the total amount of drilling used for the resource estimates at the Kiaka Central and Kiaka South resource areas now stands at 1,623 holes (237,971m).
Kevin Bullock, Volta's President and CEO, commented, "The primary objective of the work leading to this latest Mineral Resource update for the Kiaka Gold Project has been met. We can now confidently define discrete and continuous higher grade KMZ_Lenses within the broader lower grade KMZ envelope in the Kiaka Central Area. This supports and clearly illustrates that it would be practical to selectively mine and process sufficient tonnes of ore at an in situ grade approximately 40% higher than the average grade of the deposit for up to five years, while stockpiling the lower grade ore, thereby supporting a phased development approach for the Kiaka Project. This would entail installing initial processing capacity of 6.0 Mt per annum (significantly lowering CAPEX) for up to five years and scaling up to 12.0 Mt per annum for the remainder of the mine life. The phased development scheme will now be implemented in the current Feasibility Study being carried out for the project."
Mr. Bullock also noted, "We are delighted that the Mineral Resource on the Kiaka project has once again increased. Significantly, the Measured and Indicated Resources now stand at 4.86 Moz of gold, representing a 10% increase, while the Inferred Resources remain unchanged at 1.0 Moz of gold. The Kiaka Gold Project now hosts the largest undeveloped gold deposit in Burkina Faso and one of the largest undeveloped gold deposits in the West African region."
A copy of the full technical report that accompanies the NI 43-101 resource statement will shortly be posted on the Volta Resources website and on SEDAR.
Pursuant to National Instrument 43-101, the qualified person responsible for the technical data provided in this press release is Mr. Ben Parsons, a Senior Consultant (Resource Geology), and a full time employee of SRK Consulting (UK) Ltd. Mr. Parsons is a member of the AusIMM with Chartered Professional status. Mr Parsons 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 153.26 Mt @ 0.99 g/t Au for 4,862,000 ounces in the Measured and Indicated categories and 33.74 Mt @ 0.93g/t for 1,006,000 ounces in the Inferred category [Please see current VTR press release 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.
Source: Volta Resources Inc.