Delta Resources Provides Update on Its Exploration Programs in Chibougamau, Quebec and Thunder Bay, Ontario
Delta Resources Limited provided an update on its exploration projects in Quebec and Ontario. The Delta-2 VMS project may reveal three gravity anomalies and 30 VTEM conductors, with drilling starting on November 15, 2021. The Delta-2 Gold project has discovered a new gold-bearing structure with assay results of 18.8 g/t Au and 21.1 g/t Au. The Delta-1 project has outlined a 450m-long gold zone and plans for 25 drill holes. Additionally, Delta appointed Independent Trading Group for market-making services, paying $4,000 monthly, pending approval.
- Discovery of a new gold-bearing structure in Delta-2 Gold project with high assay grades (18.8 g/t and 21.1 g/t Au).
- Planned drilling programs in Delta-2 VMS and Delta-1 projects may enhance resource estimates significantly.
- Engagement of market maker to enhance trading activity and visibility in the market.
- Drilling is contingent on starting dates and environmental conditions, which may delay exploration timelines.
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KINGSTON, ON / ACCESSWIRE / November 9, 2021 / Delta Resources Limited ("Delta" or "the Company") (TSXV:DLTA)(OTCBB:DTARF)(FRANKFURT:6G01) is pleased to provide an update on its exploration projects in Quebec and Ontario and, Canada.
Delta-2 VMS project in Chibougamau, Quebec:
- The Delta-2 VMS project is 35 kilometres southeast of Chibougamau, Quebec, Delta has three (3) deep gravity anomalies with responses comparable to those over known world-class VMS deposits (see press release June 22, 2021) as well as a minimum of 30 high-priority VTEM conductors to test
- Drilling is expected to start on November 15, 2021. A total of 36 drill holes are planned for 7,400m.
- Additional gravity and VTEM geophysical surveys are also planned to cover the newly acquired Dollier-Cartier property which is contiguous to the Delta-2 VMS claims.
Delta-2 Gold project in Chibougamau, Quebec:
- The Delta-2 Gold project is also 35 kilometres southeast of Chibougamau, Quebec, Delta completed a program of geological mapping, sampling, prospecting and mechanical trenching in mid-October 2021.
- Delta has discovered a new gold-bearing structure trending 020 azimuth located 575m SE of the R14 gold prospect and nearly 600m SW of Delta's new OLI Gold discovery. Preliminary assay results have returned 18.8 g/t Au and 21.1 g/t Au in grab samples. The gold structure can be followed on LiDAR imagery for a minimum strike length of 500m to 1.5km.
- This new discovery has lead Delta to gain a better understanding of the structural controls and geometry of the gold mineralization. With structures trending 020 azimuth becoming gold targets as well as the structures trending at 060 azimuth.
- Drilling is also expected to begin in the Fall of 2021 to test these new gold targets between R14 and OLI, testing the extensions of the OLI-R14 structures, the intersections of both orientations of structures and parallel structures.
Delta-1 project in Thunder Bay, Ontario:
- The Delta-1 project is 50 kilometres west of Thunder Bay, Ontario. Delta has outlined a gold zone over 450m long and 20m wide, extending from surface to 150m vertical. The zone is open in all directions. The zone grades approximately 1 g/t Au and is located at the core of a gold halo grading 0.2-0.4 g/t Au over 100-150m in width (See press release July 27, 2021). The zone is currently outlined with only 1,680m of drilling to date.
- Delta has obtained an encroachment permit from the Ministry of Transportation of Ontario to drill. Delta has planned an additional 25 drill holes for a total of 7,500m.
- Drilling is expected to begin in early 2022 once the ground is frozen to extend the mineralized zone for another 300m on strike and up to a depth of 250m.
- The objective of this phase of drilling is to delineate a potential and significant gold resource.
Delta Appoints a Market Maker
Delta is also pleased to announce that it has retained Independent Trading Group ("ITG") to provide market making services in accordance with TSX Venture Exchange policies. ITG will assist in maintaining active and orderly trading in the market for Delta's securities on the TSX-V. In consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of
Qualified Person
Andre Tessier, P.Eng and P.Geo. and President of Delta Resources Limited is a Qualified Person as defined by NI-43-101 and is responsible for 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, 45 km2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
- DELTA-2 GOLD and DELTA-2 VMS, 170 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 37M shares outstanding is currently financing to fund its 2022 exploration and in addition, is set to receive
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
Andre C. Tessier
President, CEO and Director
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
Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
fcandido@deltaresources.ca
or
Andre Tessier, CEO and President
Tel: 613-328-1581
atessier@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. Forward looking information includes, but is not limited to, statements regarding: the samples may be proximal to a rich bedrock source for the gold; the possibility of the same source for gold mineralization; and the initiation of a property-scale till survey in September. 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.
SOURCE: Delta Resources Limited
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FAQ
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