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TSX: VTR
Volta Resources Inc. Expands Its
Property Portfolio In Burkina Faso
Toronto, ON - April 17, 2008 - Volta
Resources Inc. ("Volta") (TSX: VTR) is
pleased to announce that it has added two new prospective properties to its
portfolio in Burkina Faso (see Figure 1 below). An exclusive exploration
permit for the 55.45 km� Bansie property (see Figure 3) has been granted by
the Ministry in charge of mining in Burkina Faso to Volta's subsidiary,
Birim Goldfields Burkina Ltd. In addition, the 204 km� Titao I property
(see Figure 2) has been acquired by another Volta subsidiary, Wentworth
Gold SARL, from a Burkinab� citizen for a cash payment of US$75,000.
The Bansie property is located on the southern Hounde Belt, an emerging
gold camp in Burkina Faso. This camp hosts Semafo's Mana Project (total
reserves and resources of 1,242,000 ounces and inferred resources of
1,867,100 ounces) and Orezone's Bondigui property (total resources of
282,000 ounces and inferred resources of 149,600 ounces). The Bansie
property comprises 7 km of cumulative strike from two significant
gold-bearing structural corridors, one of which extends southward for 20 km
on the Dossi property. Both the Bansie and Dossi properties are subject to
extensive artisanal gold mining activity. The structure is marked by an
intense deformation zone, which includes strong shearing and folding within
Birimian metasediments in proximity to a contact with metavolcanic units on
the eastern margin of the Hounde Belt. Locally, the shear zone exhibits
intense carbonate and sericite alteration with a strong silicification
overprint and the development of quartz vein stockworks. A soil and rock
chip sampling program is already being undertaken in tandem with a detailed
mapping program along the mineralised structural corridor and initial
results are expected within two to three weeks.
The Titao I property is located in north central Burkina Faso,
approximately 120 km north-northwest of the capital city of Ouagadougou,
and is contiguous to the Company's Titao Sud concession. The Titao area
occurs in an individual segment of the NNE trending Hounde Greenstone Belt,
in the ENE inflection of the belt and near the junction with the
Boromo-Goren belt. The Titao area exhibits two main mineralization trends:
ENE and N-S, with both having associated quartz vein populations. The N-S
trend is similar to that of regional N-S trending shears that are defined
across the greater part of western Burkina Faso. The main river system in
the area follows the N-S structures. The NE- to predominantly ENE-trending
shears, visible in ASTER and airborne geophysical imagery, are dominant
within the area.
Both the Titao Sud
and Titao I permits are underlain in their central part by volcanic and
volcano-sedimentary formations, intruded by several plutons, and are
traversed by a major N45�E trending shear zone (the "Djibo deformation
zone"). The properties are host to numerous gold occurrences, many of
which have been worked by artisanal miners. Close to the properties and
along trend, Riverstone Resources is developing its Rambo and Goulagou
targets. Goulagou has a reported indicated resource of 280,000 ounces and
an inferred resource of 270,000 ounces. A property-wide geological mapping
program is currently being carried out over the Titao I and Titao Sud
permits, as well as a soil and rock sampling over selected parts of the
properties.
Under the guidelines of National Instrument 43-101, the qualified person
for Volta Resources Inc. is Mr. Guy Franceschi, Vice President,
Exploration. 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.
Figure 1. Volta New Property Acquisitions Burkina Faso -- Bansie and
Titao I Properties
Figure 2. Titao I Property; Geology and Key Features
Figure 3. Bansie Property; Geology and Key Features
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.
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