Auger Drilling Program Commences in Burkina Faso

02/05/2012 | 10:54pm

06 February 2012, PERTH

Maiden 20,000m auger drilling programme commences at newly acquired permits in Burkina Faso

Emerging West Africa focussed gold explorer Volta Mining Limited ("Volta Mining") (ASX: VTM) is pleased to announce the commencement of a 20,000m auger drilling programme at its newly acquired Koro and Ibi Palga Gold Projects in Burkina Faso - Figure 1.

Key Points

» 20,000m auger drilling programme commences at newly acquired Koro and Ibi Palga Gold Projects in Burkina Faso » Auger drilling programme will initially target artisanal mining sites located within the project areas » Two (2) auger drill rigs are operating concurrently (one rig at each site)

Auger drilling targets have been identified as a result of comprehensive analysis of historical exploration data including geological mapping and geochemical soil sampling which was conducted prior to acquisition as well as initial reconnaissance of the project areas which uncovered evidence of artisanal mining within the project areas (see ASX Announcement: "Volta Mining acquires strategic portfolio of new projects in Burkina Faso and Mali" dated 27 January 2012 and refer to Figure 1).
A 20,000m auger drilling programme will initially target the artisanal mining sites and will be overseen by Volta Mining's Regional Manager, Africa, Mr Mohammed Munkailah along with Mr Liviu Tusa, Volta Mining's Exploration Manager.
Managing Director of Volta Mining, Mr David Sumich, is pleased with the pace in which exploration activities are progressing.
He said, "Through our strong relationship with contractors in country we have been successful in securing auger drilling rigs within a short period of time allowing us to immediately commence an auger drilling programme at the highly prospective Koro and Ibi Palga Gold Projects."
He added, "We are focused on advancing the exploration of our newly acquired permits to determine their resource potential whilst continuing to assess other opportunities with a view to creating a pipeline of projects in Africa."
Results from the auger drilling programme will be reported as they come to hand.

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Figure 1: Project locations and geology, Burkina Faso

About the Koro Gold Project

The Koro Gold Project, comprising the Arbole Sud, Koro and Koro Sud permits covers a total area of
615.6km2 and is located in the northern area of the Birimian Boromo belt in Burkina Faso, approximately
70km north-west of the capital, Ouagadougou - Figure 1.
The proposed geochemical drilling programme aims to define the potential of the Arbole Sud - Titanguen artisanal mining area, of the contact zones between the major lithological units and of the shearing structures defined by the aeromagnetometric anomalies in the Arbole Sud perimeter; and to check and
better define the gold anomalous areas previously delineated in the Koro perimeter - Figures 2, 3, 4 & 5.

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The geochemical drill holes will be drilled on a 100x20m grid in the Arbole Sud - Titanguen artisanal mining area and on a 400x400m grid for exploring the shearing structures and the contacts in the Arbole Sud perimeter and for checking the gold anomalous areas in Koro perimeter.

Figure 2: Geological map (geology based on BRGM 2003) showing location of auger programme (400x400m grid), Koro Gold Project

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Figure 3: Historical geochemical map showing gold anomaly and location of auger programme (400x400m grid), Koro

Gold Project

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Figure 4: Arbole Sud - Titanguen artisanal mining site- auger programme (100x20m grid), Koro Gold Project

Figure 5: Seasonal artisanal mining site, Koro Gold Project

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About the Ibi Palga Gold Project

The Ibi Palga Gold Project, which includes the Doussare and Ibi Palga permit areas, has a combined total area of 492km2. The project is located in the northern zone of arcuate Goren belt of the central domain of Burkina Faso, approximately 130km north of the capital, Ouagadougou - Figure 1.
The goal of the proposed geochemical drilling program is to define the potential of the Doussare - Kouma artisanal mining site, as well as of the shearing structures defined by the aeromagnetometric anomalies - Figures 6, 7 and 8.
The geochemical drill holes will be carried out on a 100x20m grid in Doussare - Kouma artisanal mining area and on a 400x400m grid for exploring the shearing structures and Ibi Palga artisanal mining area.

Figure 6: Geological map (geology based on BRGM 2003) showing location of auger programme (400x400m grid), Ibi

Palga Gold Project

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Figure 7: TMI - auger programme (400x400m Grid), Ibi Palga Gold Project

Figure 8: Doussare - Kouma artisanal mining site- auger programme (100x20m grid), Ibi Palga Gold Project

-ENDS-

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For further information please contact:

Company Contact: Media Contact:

David Sumich Sarah Starick Managing Director Marketing Manager T +61 8 96212 3700 T +61 8 6212 3703
E david.sumich@voltamining.com.au E sarah.starick@voltamining.com.au

About Volta Mining Limited

Volta Mining is a Perth-based gold exploration company that has been established to take advantage of the opportunities presented by an evolving gold sector in West Africa.
Its vision is to become a leading mid-cap resources company with advanced, sustainable projects in Africa. Volta Mining's short term focus is to create value for its shareholders through the acquisition of strategic landholdings in West Africa and the commencement of auger drilling programmes on new projects. In the medium term it looks to develop a pipeline of projects in Africa across multiple commodities to realize its vision.
Upon completion of the Share Purchase Agreement, Volta Mining's projects with comprise the Koro, Ibi Palga and Dangue Gold Projects in Burkina Faso; and the Fandiala Gold Project in Mali covering a combined area of 1,479.1km2.
Volta Mining brings together a highly capable board of directors with considerable experience in Africa
across all aspects of exploration, operations, finance, corporate development and capital markets. The board is complemented by an experienced management team based in West Africa who oversee the exploration activities of Volta Mining's gold projects and who will manage expansion upon the identification of specific targets and that of any additional projects acquired by the company as part of its growth strategy.
Volta Mining listed on the ASX on 19 October 2011.
For more information please visit: www.voltamining.com.au

Competent person's statement

The information in this Announcement that relates to Exploration Results is based on information compiled by Mr Liviu Tusa, an employee of Volta Mining Limited. Mr Liviu Tusa has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves." Mr Liviu Tusa consents to the inclusion in the Announcement of the matters based on his information in the form and context in which it appears.