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Volta Mining has a quality iron ore exploration portfolio located within highly prospective regions of the Pilbara, WA. A recently completed ‘stage-1’ RC drill program has identified significant widths of DSO quality iron ore mineralisation from surface and up to 128m vertical depth, interpreted to be an extension of the neighbouring 124Mt @ 60.3% Fe Sirius deposit which abuts the licence boundary.
Volta Mining (ASX: VTM) has a 100% interest in four licences prospective for iron ore, located in the Pilbara region of WA and a further two licences also prospective for iron ore, located in Gabon.
The most advanced project and the priority for the Company is the Hancock Ranges iron ore project which hosts three nearby exploration licences, all of which are surrounded by iron ore ‘heavyweights’. Immediately east of Volta’s licence, Brockman Mining (ASK: BCK) has delineated a 124Mt Resource of high grade, DSO type, haematite mineralisation. Interpretation of the local geology suggests the Boolgeeda Formation (which hosts the iron mineralisation) continues to the north-west into Volta’s exploration licence. A ‘stage 1’ drill program has recently been completed which identified significant widths of DSO mineralisation from surface (and up to 128m vertical depth) with assays intersections in the range of 60-64% Fe.
Volta Mining has a very capable board with a proven track record in iron ore exploration and development; however, the prospectivity and strategic location of Volta’s licences also make the Company a potential takeover target. With an EV of A$12.6M, significant opportunity exists for further valuation upside.
Volta Mining acquired Pilbara Commodities Pty Ltd in early 2014, allowing the Company to switch focus from West African iron ore exploration (in Gabon) to high quality, low risk iron ore exploration in the world renowned Pilbara region of Western Australia.
This change in focus
has already significantly enhanced the Company’s valuation (from a low of
~A$1.2M to in late 2013 to ~A$12.6 currently) - however, substantial
opportunity still exists for further re-ratings as exploration advances...
ASX on Hotcooper: http://hotcopper.com.au/asx/VTM