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West African-focussed resources company, Volta Mining Limited, has raised US$2.25 million to enable it to begin reverse circulation drilling programmes at its Koro and Ibi Palga Gold projects in Burkina Faso

Artisanal mining in Burkina Faso. (Image source: Volta Mining)Artisanal mining in Burkina Faso. (Image source: Volta Mining)

Initial drilling results on both projects have proved very promising.

The company currently has interests in the acquisition, exploration and development of iron ore and gold assets in West Africa.

The money will come from a private placement of 9.2 million shares. Indian Ocean Capital acted as lead manager of the placement to Australian institutional and sophisticated investors.