World Class Birimian Gold Belt Exploration Update – Mandiana and Konsolon Projects

Volt is pleased to provide an exploration update on its Mandiana and Konsolon Projects, which are part of the richly mineralised West African Birimian Gold Belt.

Highlights

  • Mandiana Project – Volt’s in-country geology team has commenced field activities in its Monebo and Nzima permits. The Nzima permit is in close proximity to the Nzima large artisanal mining operation. Work completed includes:
    • Geological mapping of artisanal workings and collection of grab samples.
    • Numerous active artisanal workings have been mapped across both permits.
    • A total of 90 grab samples have been collected in Monebo (11 grab samples) and Nzima (79 grab samples) permits. The samples have been despatched to SGS Mali for analysis.
  • Konsolon Project – The company has undertaken additional review of the Konsolon legacy soil geochemistry. Multiple gold in soil anomalies were identified between 1.0km and 2.5km in length across this permit.
    • Review of soil samples in this dataset has identified high grade gold including 20.25g/t, 12.87g/t, 5.12g/t, 4.97g/t and 3.21g/t.
    • Volt will collect grab samples across prospective zones prior to undertake an auger geochemistry program to refine drill targets.

Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to provide an exploration update on its Mandiana and Konsolon Projects, which are part of the richly mineralised West African Birimian Gold Belt.

The Company has reviewed historical soil sample geochemical data for the Konsolon Project. A total of 3,544 samples were collected by Crew Gold Corporation from the Konsolon area in 2006. The collected samples included systematic grid soil samples and grab samples.

Very significant results of up to 20.25g/t Au were obtained. Volt has made some changes to its initially planned soil sampling program, where it will now collect a lesser number of samples to verify the previous explorer’s results before planning the next phase of exploration.

Volt’s in-country geology team has also started exploration in the highly prospective Nzima and Monebo permits. Initial works included site visits, mapping and collection of grab samples from the artisanal workings.

The team has mapped several artisanal workings in the Nzima permit and a limited number of new workings in the Monebo permit. A large area in the north of the Nzima permit is covered by artisanal activities and a total of 79 rock samples have been collected in the area.

The artisanal workings to the NW of Monebo permit are new while those at the centre of the permit are old. The team has collected 11 rock samples in the Monebo permit. The collected samples have been dispatched to SGS Mali for analysis.

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 Predictive Discovery Limited (ASX:PDI) permit which was the subject of a recently announced1 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 1. The Permits located in the Suguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.

Mandiana Project

Field works

Volt’s geology team has commenced field work activities on the Mandiana Project permits. The activities have included site visits to both permits, mapping of artisanal workings and collection of grab samples from the
workings and available outcrop. Figure 2 below shows the location of Nzima and Monebo permits over a regional geology map and recorded gold occurrences.

Figure 2. Nzima and Monebo Permits on regional scale geological map
(Digitized from Guinea Government Geological Map of 2006)

Nzima permit. A site visit to the permit has identified very large areas (500m to 1,400m in length) of artisanal mining activities concentrated to the north of the permit.

  • The artisanal workings formed in clusters have been mapped. Mapping of the workings show that some of the artisanal activities are in line with interpreted NW-SE and NE-SW structures in the regional geological map.
  • Gold mined by artisanal miners is hosted mainly in quartz veining. Similarly, the same host for gold is reported by the nearby Nzima artisanal mine.
  • A total of 79 samples including quality control samples have been collected from the artisanal workings. The samples have been dispatched to SGS Mali laboratory for analysis.

The photos below show the artisanal activities observed in the permit area and Figure 3 shows the location of identified artisanal workings on the Nzima Permit.

Figure 3. Location of identified artisanal workings on the Nzima permit.

Monebo permit. The permit is isolated and covered by small trees and bushes. The team visited the area three times to map existing and old artisanal workings, collect grab samples and observe the geology of the
area.

  • Three virgin and old artisanal mining activities were observed to the east and centre of the permit respectively. The artisanal workings were mapped and 11 rock samples collected from the workings.
  • During this reconnaissance field trip only ~20% of the permit has been assessed to date.
  • The area is dominated by highly weathered undifferentiated country rock, overlaid by lateritic duricrust. Several quartz veins crosscutting the weathered country rock were observed.
  • Artisanal miners are extracting gold from laterite materials (6-8m thick), mineralized quartz veins and saprolite materials.
Figure 4. Location of identified artisanal workings on the Manebo permit.

Next Steps

Nzima Permit. When the initial results of collected grab samples become available, the team will plan a systematic auger drilling geochemical sampling program to generate initial drill targets.

Monebo Permit. In the areas with artisanal workings, the team will plan a systematic auger drilling geochemistry program to determine initial targets. For the areas that are not disturbed, the team is planning to execute a systematic soil sampling program. The soil sampling program will be followed by a shallow auger drilling geochemical sampling program.

Konsolon Project

The Company has undertaken additional review of the historic soil and grab sampling geochemistry results. The data resulted from exploration undertaken in 2006 by Crew Gold Corporation.

Volt’s ASX announcement dated 15 June 2020 highlighted a number of 1.0km to 2.5km gold in soil anomalies. The soil samples have been reviewed in further detail and have returned some high-grade gold values in the data including 20.25g/t, 12.87g/t, 5.12g/t, 4.97g/t and 3.21g/t.

Volt will undertake additional reconnaissance grab sampling and then plan an auger geochemistry program to generate in-situ gold targets for drilling. Figure 5 below is a map showing the location of all the results and the high-grade sample results.

Figure 5. Konsolon soil sampling grid with high grade sample results.

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