UPDATE 1-Volta sees Burkina Faso mine producing gold in 2014

* Pre-feasibility study to start in 2010

* Volta CEO sees gold peaking at $1,500/oz this yr

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CAPE TOWN, Feb 1 (Reuters) - Toronto-listed Volta Resources (VTR.TO) expects a pre-feasibility study at its Kiaka gold mine in Burkina Faso to start in second half of 2010, with first production at the mine seen in 2014, the CEO said on Monday.

"The pre-feasibility study will take between six and nine months, starting in the second half of this year, so I would assume mid-2011 it would be done," Kevin Bullock, Volta's CEO told Reuters on the sidelines of an Africa mining conference in Cape Town.

"Should everything advance I don't expect to be in production prior to 2014," he said.

He could not estimate exactly how much production was likely pending the results of the feasibility study.

Volta Resources said earlier in January that the International Finance Corp had agreed to invest up to C$8 million in the Canadian company mainly to finance its exploration activities at the Kiaka gold project in West Africa.

Bullock said Kiaka was the most advanced of several properties it owned in Burkina Faso, Ghana and Mali. Volta purchased the mine from Randgold Resources Ltd (RRS.L) in October 2009.

"The Kiaka gold project is very viable because it sounds like a low grade, and it is at one gram, but the deposit itself is 130 metres wide on average... so it's going to be cheap mining," he said of the mine with estimated resources of 2.65 million ounces.

Bullock said the 2010 gold price could peak out at $1,400 or $1,500 an ounce as investors looked for a safe haven during a global credit crunch.

"But I think between $1,100 and $1,200 (an ounce) is probably going to be the average for the year," he added. (Reporting by Wendell Roelf; Editing by James Macharia)