Volta Begins 22,000 Metre Drill Campaign at its Advanced Kiaka Gold Project in Burkina Faso
By Volta Resources Inc., PRNE
November 22nd, 2009
TORONTO, November 23 - Volta Resources Inc. ("Volta" or the "Company") (TSX: VTR) announced
today that it has commenced its previously announced drill campaign (see VTR
press release of November 13, 2009) at its Kiaka gold project in Burkina
Faso.
A diamond drill rig, under the operation of West African Drilling
Services ("WADS"), is on site and has begun the first series of a planned
150 hole, or 22,000 metre, program. A second drill will be added during
January 2010. The drill program is designed to delineate a National
Instrument 43-101 ("NI43-101") compliant resource. The Company anticipates
that a compliant resource estimate will be available before the conclusion of
H1/10. Drill results will be announced as they are received.
Kevin Bullock, Volta's President and CEO, said, "We are particularly
pleased to have the drills turning within one week of our shareholder's
unequivocal support for the Kiaka transaction. This marks a decisive advance
for Volta, contributing to our strategy of becoming a producing company. We
aim to conclude drilling, complete a resource calculation and begin a
scoping study as soon as possible in order to prepare Kiaka for assessing
possible development and production options as quickly as is practically
possible."
Under the guidelines of National Instrument 43-101, the qualified person
for the Kiaka Gold Project is Mr. Guy Franceschi, Vice President, Exploration
for Volta. Mr. Franceschi is a member of the European Federation of
Geologists and has reviewed and approved the contents of this news release.
Volta is a mineral exploration company primarily focused on becoming a
leader in the identification, acquisition and exploration of gold properties
in West Africa. The Company is committed to West African exploration and is
Canadian-based with its head office in Toronto, Ontario and operations
offices in Accra, Ghana and Ouagadougou, Burkina Faso.
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: +1-647-388-1842, Fax: +1-416-867-2298, Email:
kbullock@voltaresources.com
For further information: please contact: Kevin Bullock, P.Eng., President & CEO, Tel: +1-647-388-1842, Fax: +1-416-867-2298, Email: kbullock at voltaresources.com
Filed under Business, Energy, Mining, New Products / Services | Tags: Burkina Faso, canada, Toronto, Volta Resources Inc. | Comment Below
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