Volta Resources extends porphyry copper-gold mineralization at Gongondy, Gaoua Cu-Au Project, Burkina Faso
Thursday, Dec 13, 2012
TORONTO, December 12, 2012 /PRNewswire/ --
- Intersects 168.0 meters at 0.57% copper-equivalent -
- And 84.0 meters at 1.01% copper-equivalent -
Volta Resources Inc. ("Volta Resources" or the "Company") (TSX: VTR) announces the first results from its recently completed 131 hole, 13,528 metres, reverse circulation (RC) and diamond drilling (DD) program on its Gaoua copper-gold project, located in southern Burkina Faso, West Africa.
The program aimed at testing continuity and extensions, both along strike and laterally, of the known copper-gold mineralization at Gongondy and Dienemera (see Figure 1). Gongondy and Dienemera are two of several copper-gold porphyry targets on the Gaoua Project where sufficient drilling has been undertaken to estimate a maiden NI43-101 compliant resource comprising over 1 million ounces of gold and 720 million pounds of copper (see table 4).
This press release includes the results from 68 holes drilled on the Gongondy prospect, from the southernmost section 1138800N to section 1140800N in the northern part of the prospect. These holes, totalling 8,490m of drilling, comprise respectively 24 DD (5,824m) and 44 RC holes (2,666m).
The results confirm that the Gongondy deposit can be traced continuously along its full strike extent of more than 2 kilometers on the western side of a post-mineralization gabbro intrusive (see Figure 2).
The drilling also confirmed the presence of two mineralized centres along a north striking breccia body, (the "northern" and the "southern" blocks), separated by a post-mineralization intrusive gabbro body and by an inferred NW-SE trending fault. The drill holes completed in the Northern part of the Gongondy mineralization are also relatively richer in gold. In addition, the southern drill fences show that the Gongondy deposit can be extended for a further 100m to the south and still remains open (see Figure 2). The results from the holes reported in this press release has the potential to considerably increase the size of the existing resource estimated for the Gongondy deposit (Table 4). Highlights from the current reported holes include:
Kevin Bullock, Volta Resources' CEO said, "These results notably increase the scope of the overall Gaoua Project where we have discovered West Africa's only major copper-gold porphyry deposit. By extending the mineralization we have an opportunity to expand the size of the project to the point where we will be in position to formalize a plan to realize full value for the project while we focus on bringing our flagship Kiaka Project to production."
Volta Resources, with SRK Consulting (UK), is scheduled to complete an updated NI 43-101 compliant resource for the Gaoua Project in early Q1, 2013 incorporating all results from holes drilled to date, including the results reported in this press release.
Results for the holes are highlighted in Table 1 and locations shown in Figure 2. Analyses of the Volta Resources samples were undertaken respectively by fire assay on a 50g charge for gold at the Actlabs Laboratories in Ouagadougou, and by Atomic Absorption for copper at the Actlabs Laboratories in Ancaster/Canada. Volta Resources' sampling and assay procedures included rigorous QA/QC elements that employed the inclusion of certified standards and blanks.
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 117.42 million tonnes @ 1.07 g/t Au for 4,029,000 ounces in the Measured and Indicated categories and 29.96 million tonnes @ 1.00 g/t Au for 1,000,000 ounces in the Inferred category [Please see VTR press release dated March 21, 2012] 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