Volta gets solid grades at Kiaka gold project

The latest batch of assays from Volta Resources (VTR-T) Kiaka gold project in Burkina Faso continue to show long widths of mineralization fairly close to surface.

Volta has received results for 14 holes of the 36 holes completed so far – about 5,400 metres of a 22,000-metre drill program. The company is hitting mineralization anywhere from the surface all the way to a depth of 320 metres.

Highlights include hole KRD32 with 117 metres grading 1.15 grams gold per tonne, drilled to 130 metres depth, including 10.5 metres grading 2.79 grams. Another intercept further down-hole returned 6.7 metres averaging 4.16 grams gold per tonne (to 154 metres depth).

Hole KRD33 returned 191 metres grading 1.31 grams gold per tonne to 191 metres depth, and included 19 metres grading 2.55 grams gold. The drill also intercepted 17.65 metres grading 1.06 grams gold to 230 metres depth and 2.75 metres grading 8.06 grams gold per tonne to 242 metres depth.

Hole KDH29, the deepest hole of the batch, intercepted 93 metres grading 1.59 grams gold per tonne to 171 meters depth, including 57 metres averaging 2.07 grams gold per tonne. Further down was a 42.45-metre-interval averaging 2.07 grams gold per tonne to 320 metres depth, including 2 metres grading 31.16 grams gold per tonne.

Volta is testing a 1,200-metre strike of the 2,800-metre KMZ sone and 500 metres of the 700-metre-long KHZ zone.

The company bought the project from Randgold Resources (GOLD-Q, RRS-L) last November and quickly switched its focus to the new project.

Volta aims to complete a resource estimate on the project by next June.

Prior to the acquisition of Kiaka and subsequent drilling, Volta shares were trading in the 30-40¢ range but they have risen substantially since then.

Today, Volta shares were up 12¢ at 86¢ apiece on a trading volume of 837,000 shares.