- Volt Resources (VRC) identifies new gold anomalous areas following auger drilling across its project area in the Siguiri Basin of Guinea
- The latest results come from initial drilling completed at the Nzima, Monebo, Konsolon and Fadougou deposits, as well as infill drilling at Kouroussa
- Drilling reportedly extended the known gold anomalous areas in Kouroussa to over 1000 metres in length and identified two major gold anomalies
- Follow up auger drilling and reverse circulation drilling is planned, with the company noting potential for future exploration programs
- Shares is trading 3.45 per cent lower at 3 cents at 10:37 am AEDT
Volt Resources (VRC) has identified new gold anomalous areas after auger drilling across its project area in the Siguiri Basin of Guinea.
VRC’s subsidiary, Gold Republic holds six permits in the area. It has grouped them into three projects – the Kouroussa Project, Mandiana Project and Konsolon Project.
Results have been received from initial auger drilling at the Nzima and Monebo deposits within the Mandiana Project, Konsolon, and the Fadougou permit within the Kouroussa Project, as well as an infill auger drilling program at Kouroussa.
Volt said drilling identified four drilling targets, extending the known gold anomalous areas in Kouroussa to more than 1000 metres in length.
Two major gold anomalies have been recorded in the Konsolon permit for a combined strike length of over 2450 metres, which remain open.
Additionally, one large anomalous area in Nzima was identified with total strike length of 600 metres which is open at both ends along strike.
Assay results from Nzima returned grades up to 1.14 grams of gold per tonne (g/t).
The company said the anomalous areas were defined by a cut-off grade of greater than 0.05g/t gold, with results exceeding 0.5g/t representing good robust drill targets.
Further anomalies at Kouroussa are said to extend for over 1000 metres in total and remain open to the southeast.
VRC has planned 71 auger holes at Nzima to test extensions of the open anomaly along strike, with four reverse circulation holes to follow-up intercepts located by auger drilling.
At Kouroussa, follow-up reverse circulation drilling is scheduled and additional auger drilling is planned for Konsolon.
While commenting on the results, Managing Director, Trevor Matthews noted recent exploration success by others in the region, particularly near the Kouroussa permit.
He said the board sees opportunities to provide funding for future exploration programs and to create value for shareholders through considering ownership options for the Guinea gold projects.
Shares was trading 3.45 per cent lower at 3 cents at 10:37 am AEDT.