May 5th, 2008 - Volta Resources Inc. ("Volta")
(TSX:VTR) is pleased to provide an update on the
results of the recent aircore drill program conducted at the Chert Ridge
project on its wholly-owned Cluster Property in the Bui area of Ghana.
The 4,436-metre aircore drill program was undertaken to test the northern
extension of the Chert Ridge mineralized structure in a topographically
low-lying area overlain by transported alluvial cover between 2-15 metres thick. Prior
to this aircore drilling program, the transported alluvial cover had
effectively masked the mineralized zone, precluding it from being detected
by the more traditional soil sampling techniques. The drilling has
successfully defined a 1,200 metre-long northern extension to the Chert
Ridge mineralized zone (see attached figure), exhibiting the same
geological relationships that define the mineralized pods further south
along the Chert Ridge trend and which are described in an earlier release
(see Birim Goldfields press release dated February 12th, 2007). Mineralization
in the aircore drill area is associated with ferruginisation and
chlorite-carbonate alteration of a narrow volcanic host within a thick
volcaniclastic sequence. Significant aircore intercepts are provided in Table 1 below.
Table 1
|
Hole ID
|
From (m)
|
To (m)
|
Intercept (m)
|
Grade (g/t Au)
|
|
BCCA045
|
12
|
13
|
1
|
3.63
|
|
BCCA055
|
11
|
15
|
4
|
1.49
|
|
BCCA058
|
8
|
11
|
3
|
0.42
|
|
BCCA093
|
10
|
16
|
6
|
0.22
|
|
BCCA268
|
12
|
20
|
8
|
0.40
|
|
BCCA300
|
17
|
20
|
3
|
0.44
|
The aircore results have provided further significant RC drill targets
which have the potential to host mineralized pods with dimensions similar
to those defined to date and this potential will be tested during an
upcoming round of RC drilling.
Mr. Craig Pearman, Volta's Exploration Manager, directly oversees Volta's
exploration programs in Ghana and has reviewed this press release. Mr.
Pearman is registered as a Professional Natural Scientist by the South
African Council for Natural Scientific Professions (SACNASP) and is a
Qualified Person as defined in National Instrument 43-101 developed by the
Canadian Securities Administrators (CSA).
Table 1 Notes
1. Drilling:
1. All quoted intersections were
drilled by aircore.
2. All intercept widths are uncorrected
due to the use of aircore.
3. Drilling was conducted towards 310o
magnetic at inclinations of -50o.
4. Down hole surveys were not performed
due to the average depth of holes being 12.9 meters with a
maximum depth of 26
meters.
2. Assays:
1. Drill results for tabulated
intercepts are for 1m interval riffle split aircore samples and are quoted
to 2 decimal places. 2m and 3m compositing was carried out in alluvial
samples on the project.
2. Laboratory sample preparation
comprised of drying and jaw crushing of a >2kg aircore 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.
3. 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. Validation parameters are
established in the database to ensure quality control.
4. Intercepts reported are all greater
than 1 gram
meter are constrained with a 0.1 g/t lower cut-off grade, no high cut-off
grade, and up to a maximum of 4m (consecutive) of internal dilution
(<0.1 g/t). The 0.1 g/t gold cut-off best expresses the lower-grade
envelope.
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@voltaresources.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.
Click to enlarge