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April 14, 2008 - Volta Resources Inc. ("Volta") (TSX:VTR) 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*
Hole ID
|
|
From (m)
|
To (m)
|
Width (m)
|
Grade (g/t Au)
|
BTI067
|
|
22
|
34
|
12
|
4.45
|
BTI067
|
including
|
22
|
31
|
9
|
5.85
|
BTI072
|
|
14
|
17
|
3
|
6.47
|
BTI072
|
including
|
15
|
17
|
2
|
9.59
|
BTI080
|
|
9
|
15
|
6
|
4.25
|
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*
Hole ID
|
|
From (m)
|
To (m)
|
Width (m)
|
Grade (g/t Au)
|
BTI003
|
|
54
|
55
|
1
|
2.16
|
BTI005
|
|
14
|
18
|
4
|
1.30
|
BTI006*
|
|
26
|
46
|
20
|
0.50
|
BTI006*
|
including
|
29
|
34
|
5
|
1.32
|
BTI010
|
|
35
|
39
|
4
|
0.64
|
BTI016*
|
|
18
|
20
|
2
|
8.82
|
BTI017
|
|
59
|
62
|
3
|
0.94
|
BTI018
|
|
20
|
23
|
3
|
0.65
|
BTI018
|
|
42
|
43
|
1
|
2.19
|
BTI018
|
|
52
|
56
|
4
|
0.81
|
BTI019
|
|
18
|
34
|
16
|
0.33
|
BTI024
|
|
9
|
10
|
1
|
3.82
|
BTI025
|
|
4
|
6
|
2
|
1.83
|
BTI026
|
|
19
|
21
|
2
|
1.05
|
BTI028
|
|
50
|
51
|
1
|
2.20
|
BTI036
|
|
4
|
19
|
15
|
0.25
|
BTI036
|
including
|
10
|
15
|
5
|
0.51
|
BTI043
|
|
14
|
28
|
14
|
0.42
|
BTI043
|
including
|
19
|
21
|
2
|
1.45
|
BTI045
|
|
56
|
59
|
3
|
0.94
|
BTI046
|
|
24
|
25
|
1
|
3.14
|
BTI046
|
|
57
|
64
|
7
|
1.74
|
BTI046
|
including
|
57
|
60
|
3
|
3.73
|
BTI050
|
|
11
|
24
|
13
|
0.61
|
BTI050
|
including
|
15
|
20
|
5
|
1.00
|
BTI051
|
|
16
|
28
|
12
|
0.47
|
BTI054
|
|
60
|
65
|
5
|
3.43
|
BTI054
|
including
|
60
|
61
|
1
|
15.87
|
BTI057
|
|
65
|
67
|
2
|
1.09
|
BTI086
|
|
35
|
38
|
3
|
2.53
|
BTI086
|
including
|
35
|
36
|
1
|
6.34
|
BTI094
|
|
74
|
77
|
3
|
0.97
|
BTI097
|
|
40
|
43
|
3
|
1.08
|
* 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 -50o.
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 >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
(<0.2 g/t). The 0.2 g/t gold cut-off best expresses the lower-grade
envelope.
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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.
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
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
The Toronto Stock Exchange does
not accept responsibility for the adequacy or accuracy of this news
release.