Volt Resources has entered a Share Sale Deed to acquire an exciting gold project located in Guinea, Africa.
The project comprises six permits in the prolific Siguiri Basin with a total area of 388 km2.
The Company is also finalising a capital raising of $800,000 before costs through a share placement to sophisticated investors.
Guinea gold project acquisition
The Permits are located in the Suguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.
Planning for exploration works on these under-explored permits is already underway and further information will be provided in coming weeks.
Volt will continue to progress its graphite business plans and the current Stage 1 development funding program in relation to its Bunyu Graphite Project in Tanzania.
The addition of a gold focus will provide current and new shareholders with the opportunity to participate in the potential value accretion from gold exploration and development, particularly through leveraging off its existing networks in Africa.
The Volt board considers the transaction will provide an additional value driver for the company, diversify project specific risks, improve the ability to raise capital at better prices and may potentially assist with the graphite development funding process.
Volt Resources MD, Trevor Matthews, comments:
“This is an exciting opportunity for Volt to acquire a gold project with permits in a highly prospective and under-explored area. With Alphier Capital, I am continuing to advance the graphite funding process and this remains a key focus for the Company.
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“The addition of a new gold focus provides shareholders with exposure to one of the best performing metals on financial markets and the benefits of diversification in a period of economic uncertainty.”
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