Emerging West Africa focussed gold explorer Volta Mining Limited (VTM) is pleased to announce that it has entered into a Share Purchase Agreement pursuant to which Volta Mining has obtained an option to acquire up to a 100% interest in six (6) prospective gold permits throughout Burkina Faso and Mali totalling 1,236.6km. The acquisitions are complementary to Volta Mining’s current permit holding (Dangue Gold Project) located in the south of Burkina Faso.
Managing Director of Volta Mining, Mr David Sumich said, “We are excited to have secured these gold projects in Burkina Faso and Mali. The acquisitions are a strategic fit for Volta Mining and we have substantially increased our footprint in West Africa with the inclusion of projects in Mali to our portfolio.” He added, “What has been most pleasing has been the fact that we have been able to achieve this growth in a relatively short period of time since listing in October 2011.” “Initial reconnaissance of the permit areas and analysis of historical exploration data is very encouraging. The majority of the permits lie on greenstone belts which play host to a number of large gold deposits in the region. A number of artisanal mines have also been identified indicating good prospectivity for gold mineralisation.”
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 programs 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.