Delta Resources Provides Update on Its Ongoing Exploration Programs in Chibougamau, Quebec and Thunder Bay, Ontario

Rhea-AI Summary

Delta Resources Limited (TSX-V:DLTA, OTC PINK:DTARF) announced updates on its exploration projects in Quebec and Ontario. At the Delta-1 Gold project, assay results from April's drill campaign are expected by mid-July, with further drilling planned for fall 2021. The Delta-2 Gold project has initiated mechanical trenching to uncover new gold zones, with drilling set for fall 2021. Additionally, the Delta-2 VMS project will test gravity anomalies and conduct further geophysical surveys. Delta remains fully funded for its 2021 exploration with notable projects underway.

Positive

• Anticipation of assay results from Delta-1 Gold project, boosting potential investor interest.
• Planned drilling and exploration programs at both Delta-1 and Delta-2 projects indicate ongoing commitment to resource development.
• Fully funded exploration for 2021 with an additional $1M expected from the sale of the Bellechasse-Timmins gold project.

Negative

• None.

KINGSTON, ON / ACCESSWIRE / July 8, 2021 / Delta Resources Limited ("Delta" or "the Company") (TSX-V:DLTA) (OTC PINK:DTARF) (FRANKFURT:6G01) is pleased to provide an update on its ongoing exploration projects in Quebec and Ontario, Canada.

Delta-1 Gold project in Thunder Bay, Ontario:

• Delta is awaiting assay results from its April 2021 drill campaign which consisted of eight drill holes for a total of 1,376 metres. All samples were shipped to the geochemical lab at the end of May and results are anticipated no later than mid-July.
• An exploration program consisting of mechanical trenching, detailed geological mapping and sampling is planned in late-August and September.
• Additional drilling is planned for the fall and winter (2021-22).

Delta-2 Gold project in Chibougamau, Quebec:

• Delta initiated its field season in late-June, building access trails to the OLI vein area where an extensive mechanical trenching program started on July 5^th. The objective of mechanical trenching is to expose the newly discovered gold zones at surface and to gain a better understanding of the structural controls and geometry of the mineralization.
• A one square kilometre area located between the R-14 gold prospect and the OLI gold discovery is also slotted for detailed structural mapping and sampling.
• Geological mapping and sampling will also be expanded to the NE of the OLI gold discovery in a zone of structural complexity believed to be responsible for channelling mineralized fluids from the La Dauversiere intrusion.
• A drill campaign is planned in the fall of 2021 to test new gold targets between R-14 and OLI, and to test the extensions of the OLI gold zones.

Delta-2 VMS project in Chibougamau, Quebec:

• Drilling is planned to test three excellent gravity anomalies in the south-eastern portion of the property (see press release June 22, 2021) in addition to other high-priority VTEM conductors which couldn't be tested in the spring of 2021 due to an early thaw.
• 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.

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 36M shares outstanding has a fully funded exploration for 2021 and in addition, is set to receive $1 M in scaled payments, starting August 1st, 2021, through the sale of its Bellechasse-Timmins gold project in SE Quebec.

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

View source version on accesswire.com:
https://www.accesswire.com/654734/Delta-Resources-Provides-Update-on-Its-Ongoing-Exploration-Programs-in-Chibougamau-Quebec-and-Thunder-Bay-Ontario

FAQ

What updates did Delta Resources provide on its Delta-1 Gold project?

Delta Resources announced they are awaiting assay results from their April 2021 drill campaign at the Delta-1 Gold project, with results expected by mid-July and further drilling planned for the fall.

What is happening at the Delta-2 Gold project?

Delta-2 Gold project has begun mechanical trenching to expose new gold zones, with further geological mapping and a scheduled drill campaign in fall 2021.

What exploration activities are being conducted at Delta-2 VMS project?

The Delta-2 VMS project includes drilling to test gravity anomalies and additional geophysical surveys to enhance exploration efforts.

How is Delta Resources funded for its 2021 exploration?

Delta Resources is fully funded for its 2021 exploration efforts and is set to receive $1 million in payments from the sale of its Bellechasse-Timmins gold project.