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TSX: VTR
Volta
Resources Commences Phase Two Core Drilling Program
At Its Gaoua Copper-Gold Project, Burkina Faso
May 07, 2008 - Volta Resources Inc.
("Volta" or the "Company")
(TSX:VTR) is pleased to announce that it has commenced the second phase
of surface diamond drilling on its Gaoua copper-gold porphyry project in
southern Burkina Faso.
The drill program will comprise a minimum of 10,000 metres ("m")
and is expected to be completed by September 2008. Results from the
drilling will be announced as they are received. A diamond drill rig has
been mobilized to the site and commenced drilling on April 11, 2008.
The Company is following up on the results of last year's drilling,
geophysics and related field work (see Goldcrest Resources' news release
dated January 4, 2008). The first round of core drilling, completed in
October 2007, confirmed the presence of highly anomalous copper-gold
mineralization hosted by brecciated diorite and hydrothermal breccia, which
show porphyry copper characteristics in three target areas. The target
areas are Gongondy on the Company's Souhouera permit and Dienemera and Mont
Biri on the Malba permit (see Figure 1). In addition, geological mapping
and soil sampling further confirmed the presence of hydrothermal alteration
and anomalous copper-gold mineralization consistent with copper porphyry
systems between and beyond the aforementioned target areas in a prospective
structural corridor that is greater than 30 kilometres long.
The program aims at further delineating the mineralization identified
during the first program with a view to completing a NI 43-101 resource
calculation by the end of 2008. In-fill and step-out drill holes are
planned to attempt upgrading and expanding the Gongondy and Dienemera
porphyry deposits.
The planned drill program will also test for concealed porphyry-style
copper mineralization between the target areas and to expand the
mineralization identified at Mont Biri. The Company is currently completing
a 30km� gradient array induced polarization ("IP") survey between
Gongondy and Dienemera-Mont Biri on a 200m x 25m and 300m x 25m grid. This
ground geophysical survey has been designed to support the detailed
geological mapping and soil geochemistry conducted in 2007, which defined a
number of larger, copper-gold anomalous areas that warrant further
investigation within the prospective structural corridor. The results from
this program will be used to assist in the definition of additional new
drill targets.
Under the guidelines of National Instrument 43-101, the qualified person
for the Gaoua 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.
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.
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