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Volt Resources in trading halt ahead of project acquisition announcement

The company entered into a share sale deed on May 14 to acquire six permits in the highly prospective Birimian Greenstone Belt within the Siguiri Basin in Guinea.

Volt Resources Ltd - Volt Resources in trading halt ahead of mining project acquisition news
The acquisition is set to transition Volt to a diversified mineral resources company

Volt Resources Ltd (ASX:VRC) has been granted a trading halt ahead of an announcement regarding the acquisition of a mining project.

This trading halt will remain in place until the beginning of regular ASX trading on Wednesday, May 20, 2020, or when an announcement is released to the market, whichever occurs earliest.

Acquisition of Guinea project

On May 14 Volt was as much as 50% higher after entering a share sale deed to acquire a highly prospective gold project in Guinea, Africa.

The project covers 388 square kilometres and comprises six permits in the Siguiri Basin, which forms part of the richly mineralised West African Birimian Gold Belt.

This acquisition transitions Volt to a diversified mineral resources company with a continuing commitment to developing the Bunyu Graphite Project in Tanzania combined with gold exploration and development.

The project is near the Guinea projects of Predictive Discovery Ltd (ASX:PDI) from which promising exploration results have been produced.

Quick facts: Volt Resources Ltd

Price: 0.02 AUD

ASX:VRC
Market: ASX
Market Cap: $37.98 m
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