Delta Furthers Its Strategic Land Acquisition in the Eastern Shebandowan Greenstone Belt in Thunder Bay, Ontario
Delta Resources has expanded its presence in the Eastern Shebandowan Greenstone Belt by acquiring 19 additional claims covering 233 hectares. The company secured 11 claims from Metals Creek Resources and rights to 8 claims from Gold Cache Inc. The claims, contiguous with the Delta-1 Property, host several gold occurrences including the Echo Zone and Gold Cache Main Zone, with samples showing up to 50.1 g/t Au. Delta's total land package now spans 30,833 hectares. The acquisition terms include a $55,000 payment, 1.25M Delta shares issuance, and $40,000 in installments to Gold Cache Inc. A 1% NSR royalty will be retained by Metals Creek, with buyback options available.
Delta Resources ha ampliato la sua presenza nella Eastern Shebandowan Greenstone Belt acquisendo 19 ulteriori concessioni che coprono 233 ettari. L'azienda ha ottenuto 11 concessioni da Metals Creek Resources e i diritti su 8 concessioni da Gold Cache Inc. Le concessioni, adiacenti alla Delta-1 Property, ospitano diverse occorrenze di oro, tra cui l'Echo Zone e il Gold Cache Main Zone, con campioni che mostrano fino a 50,1 g/t Au. Il pacchetto totale di terre di Delta ora si estende su 30.833 ettari. I termini di acquisizione includono un pagamento di $55.000, l'emissione di 1,25 milioni di azioni Delta e $40.000 in rate a Gold Cache Inc. Una royalty NSR dell'1% sarà mantenuta da Metals Creek, con opzioni di riacquisto disponibili.
Delta Resources ha expandido su presencia en el Eastern Shebandowan Greenstone Belt al adquirir 19 concesiones adicionales que cubren 233 hectáreas. La empresa aseguró 11 concesiones de Metals Creek Resources y los derechos sobre 8 concesiones de Gold Cache Inc. Las concesiones, contiguas a la propiedad Delta-1, albergan varias ocurrencias de oro, incluyendo la Echo Zone y la Gold Cache Main Zone, con muestras que muestran hasta 50,1 g/t Au. El paquete total de tierras de Delta ahora abarca 30.833 hectáreas. Los términos de adquisición incluyen un pago de $55,000, la emisión de 1.25 millones de acciones de Delta y $40,000 en cuotas para Gold Cache Inc. Se retendrá una regalía NSR del 1% por parte de Metals Creek, con opciones de recompra disponibles.
Delta Resources는 233헥타르를 커버하는 19개의 추가 청구를 취득하여 Eastern Shebandowan Greenstone Belt에서의 입지를 확장했습니다. 이 회사는 Metals Creek Resources로부터 11개의 청구를 확보하고 Gold Cache Inc.로부터 8개의 청구권을 획득했습니다. 이 청구들은 Delta-1 Property와 인접해 있으며, Echo Zone 및 Gold Cache Main Zone을 포함한 여러 금 발생 지역을 호스팅하고 있으며, 샘플은 최대 50.1 g/t Au를 나타냅니다. Delta의 총 토지 패키지는 현재 30,833헥타르에 달합니다. 인수 조건에는 $55,000의 지불, 125만 Delta 주식의 발행 및 Gold Cache Inc.에 대한 $40,000의 할부가 포함됩니다. Metals Creek에 의해 1% NSR 로열티가 유지되며, 재매입 옵션이 제공됩니다.
Delta Resources a élargi sa présence dans le Eastern Shebandowan Greenstone Belt en acquérant 19 revendications supplémentaires couvrant 233 hectares. La société a sécurisé 11 revendications auprès de Metals Creek Resources et les droits sur 8 revendications de Gold Cache Inc. Les revendications, contiguës à la propriété Delta-1, abritent plusieurs occurrences d'or, y compris la Echo Zone et la Gold Cache Main Zone, avec des échantillons montrant jusqu'à 50,1 g/t Au. Le paquet total de terres de Delta s'étend désormais sur 30 833 hectares. Les conditions d'acquisition incluent un paiement de 55 000 $, l'émission de 1,25 million d'actions Delta et 40 000 $ en versements à Gold Cache Inc. Une redevance NSR de 1 % sera conservée par Metals Creek, avec des options de rachat disponibles.
Delta Resources hat seine Präsenz im Eastern Shebandowan Greenstone Belt durch den Erwerb von 19 zusätzlichen Lizenzen, die 233 Hektar bedecken, ausgeweitet. Das Unternehmen sicherte sich 11 Lizenzen von Metals Creek Resources und die Rechte an 8 Lizenzen von Gold Cache Inc. Die Lizenzen, die an die Delta-1 Property angrenzen, beherbergen mehrere Goldvorkommen, darunter die Echo Zone und die Gold Cache Main Zone, wobei Proben von bis zu 50,1 g/t Au zeigen. Das gesamte Landpaket von Delta umfasst nun 30.833 Hektar. Die Akquisitionsbedingungen beinhalten eine Zahlung von 55.000 $, die Ausgabe von 1,25 Millionen Delta-Aktien und 40.000 $ in Raten an Gold Cache Inc. Eine NSR-Royalty von 1 % bleibt bei Metals Creek, und Rückkaufoptionen sind verfügbar.
- Significant expansion of land holdings to 30,833 hectares
- Multiple high-grade gold occurrences present in acquired claims (up to 50.1 g/t Au)
- No work commitments required on the entire property package
- Strategic location contiguous to existing Delta-1 Property
- Cash payments of $95,000 required for acquisition
- Share dilution through issuance of 1.25M new shares
- Multiple royalty obligations (1% NSR to Metals Creek, 2% NSR on underlying agreements)
19 additional claims on strike with the Eureka Gold Deposit
Delta's combined land package in the Eastern Shebandowan Greenstone Belt now covers 30,833 hectares or over 308 square kilometres
No work commitments on the newly acquired claims as well as the combined entirety of the Delta land package
Kingston, Ontario--(Newsfile Corp. - October 29, 2024) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) ("Delta" or "The Company") is pleased announce that it has acquired a
The combined claims cover approximate 233 hectares and are all contiguous with the newly expanded Delta-1 Property (see map below). The claims are located in Horne and Dawson Road Lots Township.
The claims located west of the Eureka Gold Deposit host a number of gold occurrences including the Echo Zone (1.04 g/t Au over 18.7m surface channel sample and 0.45 g/t Au over 21 m in drill hole), the Gold Cache Main Zone (29.4 g/t Au over 0.6m surface channel sample) and other surface grab samples ranging from 4.16 g/t Au to 50.1 g/t Au.
Figure 1: Map of the eastern portion of the Delta-1 Expanded Property, showing the location of the newly acquired claims.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/228142_cb1b42cda4951bad_001full.jpg
André Tessier, President and CEO of Delta Resources states "Delta deployed an aggressive strategy over the past year to control the eastern Shebandowan Greenstone Belt. With each addition to its property package, Delta is getting closer to its goal of controlling this highly prospective gold endowed belt where we believe that multiple gold deposits are yet to be uncovered. Having already made a significant discovery at the Eureka Gold deposit which remains open on strike and to depth, the Delta technical team is as keen on expanding the mineralized envelope at Eureka while it now sets its sights on furthering the potential of multiple gold deposits within this commanding land package. It's also noteworthy that Delta has no work commitments on the complete property package, allowing the team to focus where the data is pointing to areas of best potential. A potential that we're just starting to uncover."
Alexander (Sandy) Stares, President and CEO of Metals Creek states "Making this deal with Delta allows Metals Creek to focus on our flagship Ogden Gold Project (50/50 JV with Newmont) and our Tillex Copper Project, where we have completed drilling with great success and awaiting additional results. In addition, Metals Creek and its shareholders will remain exposed to Delta's success with the share holding and the NSR on these claims. We believe that Delta is best positioned with their commanding land package to advance this exciting portion of the Shabandowan greenstone belt and we are very pleased to be a shareholder of Delta into the future."
Under the terms of the agreement, Delta will pay
Delta will also have to pay
MEK will retain a
There are no work commitments on the properties. The agreement is subject to regulatory approval.
Qualified Person
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is a Qualified Person as defined by NI-43-101 and has reviewed the technical information presented in this press release.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
DELTA-1 is Delta's flagship project, where the company is building on a large gold inventory 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over a strike length of 2.5 km, from surface to a vertical depth of 300 m. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (incl. 14.8 g/t Au over 11.9 m), and 1.79 g/t Au over 128.5 m. The property covers 306 square kilometres where Delta has identified multiple corridors of intense alteration and deformation, on strike with, and to the south of the Eureka gold zone and that has yet to be thoroughly explored.
The DELTA-2 property covers 205 square kilometres in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt were mined between 1975 and 1983, grading
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre Tessier
President and CEO
www.deltaresources.ca
We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Andre C. Tessier, President and CEO
Tel: 613-328-1581
atessier@deltaresources.ca
or
Frank Candido, Chairman
Tel: 514-969-5530
fcandido@deltaresources.ca
Cautionary Note Regarding Forward-Looking Information
Some statements contained in this news release are "forward-looking information" within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228142
FAQ
What is the size of Delta Resources' (DTARF) new land acquisition in Thunder Bay?
What are the gold grades reported in the newly acquired claims by Delta Resources (DTARF)?
What are the payment terms for Delta Resources' (DTARF) October 2024 land acquisition?
