The Collaborative International Dictionary of English v.0.48:

Volant \Vo"lant\ (?; 277), a. [L. volans, -antis, p. pr. of
   volare to fly: cf. F. volant.]
   1. Passing through the air upon wings, or as if upon wings;
      flying; hence, passing from place to place; current.
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            English silver now was current, and our gold volant
            in the pope's court.                  --Fuller.
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   2. Nimble; light and quick; active; rapid. "His volant
      touch." --Milton.
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   3. (Her.) Represented as flying, or having the wings spread;
      as, an eagle volant.
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   Volant piece (Anc. Armor), an adjustable piece of armor,
      for guarding the throat, etc., in a joust.
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