Volta Mining (ASX: VTM) has some potentially very interesting news pending, with the company's shares placed in pre open after a trading halt was granted by the ASX, to prepare the release of a proposed 'significant acquisition'.
Volta has not yet elaborated any further on the announcement, but the company has a very interesting focus and is on the hunt for West African gold.
The company was only minted in October 2011, and hit the exploration trail quickly at the Dangue Gold Project towards the end of 2011, which is located in the central eastern area of the Boromo Birimian belt in Burkina Faso – host to a large number of significant gold and base metal deposits in West Africa.
The Dangue Gold Project spans a permit area of 242 square kilometres and is located 160 kilometres south of the capital of Burkina Faso, Ouagadougou.
Highlighting the prospectivity of the area, the belt is part of the prolific Paleoproterozoic (Birimian) greenstone belts of the West African craton and host to large projects like the 1.5 million ounce Poura Gold deposit and IAMGOLD’s (TSX: IMG, NYSE: IAG) 4.9 million ounce Essakane deposit.
The halt will last until the earlier of the announcement being made available to the market, or the opening of trade on Friday 27 January.