Guinea Gold Projects Exploration Update

Guinea Gold Projects Exploration Update

Volt is pleased to provide an exploration update for the Mandiana, Konsolon and Kouroussa Projects located in Guinea.

Highlights

  • Volt has received assay results from its initial reconnaissance program over the Mandiana Project (Nzima and Monebo Permits) and the Kouroussa Project (Kouroussa Permit)
  • Significant assay results from the projects include:
ProjectPermitSignificant Assays
MandianaNzima14.5 g/t Au, 2.93 g/t Au, 1.54 g/t Au & 0.86 g/t Au
From grab samples
Monebo8.89 g/t Au, 0.73 g/t Au & 0.14 g/t Au
From grab samples
KouroussaKouroussa1.02 g/t Au, 0.77 g/t Au, 0.46 g/t Au
From grab samples
  • Grab samples have confirmed gold mineralization in all three permits (Nzima, Monebo and Kouroussa)
  • Remote sensing targeting completed using Sentinel 2A satellite image processing by Sahara Natural Resources has identified 56 potential targets. Ground truthing and sampling of the targets has been completed across the Kouroussa and Mandiana Projects.
  • The exploration team is now at the Konsolon Project ground truthing and collecting grab samples from remote sensing targets and from historical soil sample areas.

Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to provide an exploration update for the Mandiana, Konsolon and Kouroussa Projects located in Guinea. The Company has been actively conducting reconnaissance grab sampling across all its permits.

During the program the exploration team made geological observations, photographed and collected grab samples from artisanal workings, termite mounds and other interesting geology. A total of 503 samples were collected from all permits within the Kouroussa and Mandiana Projects. All samples were dispatched to the analytical laboratory for analysis.

Initial results for Mandiana Project (Nzima and Monebo Permits) and Kouroussa Project (Kouroussa permit) have been received. The results have confirmed gold mineralization in all permits. Grades between background and 14g/t Au from grab samples have been received.

The team completed the reconnaissance sampling programs over Mandiana and Kouroussa Projects and have mobilized to Konsolon. The work programs in Konsolon include sampling aimed at verification of previous
exploration results and ground truthing of targets generated by remote sensing. After completion of the Konsolon program, the Company will suspend field activities until the wet season ends.

Mandiana Project

Nzima Permit

A total of 113 samples collected and dispatched to the laboratory. The samples were collected from floats, workings and termite mounds. The results for 85 samples including QA/QC have been received. The results
have confirmed the presence of gold mineralization and have identified 3 anomalous targets.

Table 1 shows the anomalous results whilst a full table is attached as Appendix 1. Figure 1 is the map showing the assayed sample results. (Two areas of continuous anomalies are highlighted by red circles)

Table 1. Anomalous gold results reported greater than 0.05g/t Au
Figure 1. Grab sample results from Nzima permit

The photos below show the artisanal activities observed in the Nzima permit area.

Monebo Permit

A total of 23 samples were collected from this permit with only results for 11 samples received to date. The samples were collected from floats, orkings and termite mounds. About 50% of all samples have returned
anomalous gold values greater than 0.05g/t Au. The results have confirmed the presence of gold mineralization within the permit.

Table 2 shows the anomalous results whilst a full table is attached in appendix 1. Figure 2 is the map showing the grab sample results.

Table 2. Anomalous gold results greater than 0.05g/t Au
Figure 2. Grab Sample Results over Monebo Permit

Kouroussa Project

Kouroussa Permit

A total of 76 samples were collected and dispatched to the laboratory. All the results have been received. The samples were collected from floats, workings and termite mounds. The results have confirmed the presence of gold mineralization.

Table 3 shows the anomalous results whilst a full table is attached as Appendix 1. Figure 3 is the map showing the grab sample results (targets are highlighted by red circles).

Table 3. Anomalous gold results greater than 0.05g/t Au
Figure 3. Grab Sample Results over Kouroussa Permit

Next Steps for Mandiana and Kouroussa Projects

The Company is waiting for the outstanding grab sample results and will plan a follow-up systematic auger geochemical sampling program. The program will be executed at the beginning of the dry season in late November.

Konsolon Project

The team is at the Konsolon Project undertaking ground truthing on remote sensing targets and collecting grab samples from anomalous areas identified by previous exploration. The samples collected will assist in
validating historical data.

Previous exploration soil sample results returned high grade gold values including 20.25g/t, 12.87g/t, 5.12g/t, 4.97g/t and 3.21g/t per figure 4 below.

Figure 4. Konsolon soil sampling grid with high grade sample results.

Guinea Projects and Permits

Volt has six permits covering an area of 348.7 square kilometres in Guinea’s highly prospective Siguiri Basin and has grouped them into three projects – the Kouroussa Project, Mandiana Project and Konsolon Project. See Figure 1 below for the project and permit locations.

The Kouroussa Project comprises three permits, the Kouroussa, Kouroussa West and Fadougou permits. The Kouroussa and Kouroussa West permits border the PDI permit which was the subject of a recently announced discovery of high-grade gold mineralization. To the NE, the Kouroussa Permit borders the Kouroussa mine and the Fadougou permit is located 13km NE of the same mine.

The Konsolon Project constitutes one prospective permit. The permit consists of several geochemical gold in soil anomalies identified by previous explorers.

The Mandiana Project comprises the highly prospective Nzima permit and Monebo permit. The Nzima permit borders the Nzima artisanal mine and is 15km SW of the 1.1Moz Tri-K Deposit owned by Managem

Figure 5. The Permits located in the Suguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.

Authorised by:

Trevor Matthews
Managing Director
Volt Resources Limited


FOR PERSONAL USE ONLY
For further information please contact:

Trevor Matthews
Managing Director
Tel: +61 8 9486 7788