Volta charges ground in West Africa

THE BOURSE WHISPERER: West Africa-focused gold explorer Volta Mining has entered into a Share Purchase Agreement, from which it has obtained an option to acquire up to a 100 per cent interest in six prospective gold permits throughout Burkina Faso and Mali.

Volta will acquire up to a 100 per cent interest in five fully-granted gold exploration permits in Burkina Faso.

 

Volta project locations and geology, Burkina Faso. Source: Company announcement

 

This will increase Volta’s total ground under licence in Burkina Faso from 242.51 square kilometres to 1,350.1 square kilometres.

The company will also pick up a 100 per cent interest in a fully-granted maiden gold exploration permit in Mali covering 129sqkm.

The company is currently in discussions to acquire up to a 100 per cent interest in a further two permits.

The deal will take Volta Mining’s total ground under licence in West Africa to 1,479.1sqkm.
Volta said the acquisitions will complement its current Dangue gold project permit holding, located in the south of Burkina Faso.

“We are excited to have secured these gold projects in Burkina Faso and Mali,” Volta Mining managing director David Sumich said in the company’s announcement to the Australian Securities Exchange.

“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.

“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.”