Delta Significantly Expands Its Land Position at the Delta-1 Property in Thunder Bay, Ontario
Delta Resources (TSXV: DLTA) (OTC Pink: DTARF) has significantly expanded its land position at the Delta-1 property in Thunder Bay, Ontario. The company acquired a 100% interest in the Ternowesky property, adding 443 claim units covering over 93 square kilometres. This expansion brings Delta's total land package to over 306 square kilometres in the central portion of the Shebandowan Greenstone Belt.
The expanded property now covers a 35-kilometre strike extent of both the Shebandowan and Gold Creek deformation zones, which are gold-endowed, crustal-scale structural zones. Delta will pay $150,000 and issue 1.1M shares for the acquisition, subject to TSX approval. The vendors will retain a 2% Net Smelter Return Royalty, with Delta having options to buy back portions of the royalty.
Delta Resources (TSXV: DLTA) (OTC Pink: DTARF) ha significativamente ampliato la sua posizione territoriale presso la proprietà Delta-1 a Thunder Bay, Ontario. L'azienda ha acquisito un interesse del 100% nella proprietà Ternowesky, aggiungendo 443 unità di richiesta che coprono oltre 93 chilometri quadrati. Questa espansione porta il pacchetto totale di terreni di Delta a oltre 306 chilometri quadrati nella porzione centrale del Shebandowan Greenstone Belt.
La proprietà ampliata copre ora un estensione di 35 chilometri delle zone di deformazione Shebandowan e Gold Creek, che sono zone strutturali a grande scala ricche d'oro. Delta pagherà $150.000 e emetterà 1,1 milioni di azioni per l'acquisizione, soggetta all'approvazione della TSX. I venditori manterranno una Royalty Net Smelter Return del 2%, con Delta che avrà opzioni per riacquistare porzioni della royalty.
Delta Resources (TSXV: DLTA) (OTC Pink: DTARF) ha ampliado significativamente su posición de tierras en la propiedad Delta-1 en Thunder Bay, Ontario. La compañía adquirió un interés del 100% en la propiedad Ternowesky, agregando 443 unidades de reclamo que cubren más de 93 kilómetros cuadrados. Esta expansión lleva el paquete total de tierras de Delta a más de 306 kilómetros cuadrados en la parte central del Shebandowan Greenstone Belt.
La propiedad ampliada ahora cubre un extensión de 35 kilómetros de las zonas de deformación Shebandowan y Gold Creek, que son zonas estructurales de gran escala dotadas de oro. Delta pagará $150,000 y emitirá 1.1 millones de acciones por la adquisición, sujeta a la aprobación de la TSX. Los vendedores mantendrán un royalti del 2% sobre la devolución de fundición neta, con opciones para que Delta compre de nuevo porciones del royalti.
Delta Resources (TSXV: DLTA) (OTC Pink: DTARF)가 온타리오주 썬더 베이의 Delta-1 부지에서 토지 위치를 대폭 확대했습니다. 이 회사는 Ternowesky 부지에 대한 100%의 지분을 인수하여 443개의 청구 단위를 추가해 93제곱킬로미터 이상을 커버합니다. 이러한 확장은 Delta의 총 토지 패키지를 306제곱킬로미터 이상으로 증가시킵니다.
확대된 부지는 이제 35킬로미터의 스트라이크 범위를 가지고 있으며, 여기에는 금이 풍부한 Shebandowan과 Gold Creek 변형 구역이 포함됩니다. Delta는 이 인수를 위해 $150,000와 110만 주를 발행할 것이며, 이는 TSX 승인을 조건으로 합니다. 판매자는 2%의 순광산 수익 로열티를 유지하게 되며, Delta는 로열티의 일부를 재매입할 수 있는 옵션을 갖습니다.
Delta Resources (TSXV: DLTA) (OTC Pink: DTARF) a significativement élargi sa position foncière sur la propriété Delta-1 à Thunder Bay, Ontario. La société a acquis un intérêt de 100 % dans la propriété Ternowesky, ajoutant 443 unités de revendication couvrant plus de 93 kilomètres carrés. Cette expansion porte le total de terres de Delta à plus de 306 kilomètres carrés dans la partie centrale du Shebandowan Greenstone Belt.
La propriété agrandie couvre maintenant une étendue de 35 kilomètres des zones de déformation de Shebandowan et de Gold Creek, qui sont des zones structurales d'ampleur crustale riches en or. Delta paiera 150 000 $ et émettra 1,1 million d'actions pour l'acquisition, sous réserve de l'approbation de la TSX. Les vendeurs conserveront une redevance de 2 % sur le produit net de fusion, Delta ayant des options pour racheter des parties de cette redevance.
Delta Resources (TSXV: DLTA) (OTC Pink: DTARF) hat seine Landposition erheblich erweitert auf dem Delta-1 Grundstück in Thunder Bay, Ontario. Das Unternehmen erwarb 100% der Ternowesky-Liegenschaft und fügte 443 Ansprüche hinzu, die über 93 Quadratkilometer abdecken. Diese Erweiterung bringt das gesamte Landpaket von Delta auf über 306 Quadratkilometer im zentralen Teil des Shebandowan Greenstone Belt.
Das erweiterte Grundstück umfasst nun einen 35 Kilometer langen Streifen in den Deformationszonen Shebandowan und Gold Creek, die goldreiche, kluftartige Strukturzonen sind. Delta wird 150.000 $ zahlen und 1,1 Millionen Aktien ausgeben für den Erwerb, unter Vorbehalt der Genehmigung durch die TSX. Die Verkäufer behalten eine 2%ige Net Smelter Return Royalty, wobei Delta Optionen hat, Teile der Royalty zurückzukaufen.
- Significant expansion of land position, increasing potential for multiple deposits
- Acquisition of 443 claim units covering 93 square kilometres
- Total land package now covers over 306 square kilometres
- 35-kilometre strike extent of gold-endowed structural zones
- Potential for both gold and magmatic copper-nickel deposits
- Upfront cost of $150,000 and 1.1M shares for the acquisition
- 2% Net Smelter Return Royalty retained by vendors
PURCHASE OF 443 CLAIMS COVERING 93 SQUARE KILOMETRES
Kingston, Ontario--(Newsfile Corp. - August 6, 2024) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) ("Delta" or "The Company") is pleased announce that it has acquired a
The expansive property consists of 443 claim units spanning over seven (7) townships and covering over 93 square kilometres. Delta's land package now covers over 306 square-kilometres in the central portion of the Shebandowan Greenstone Belt. The property now covers a 35-kilometre strike extent of both the Shebandowan and Gold Creek deformation zones. Both structures are gold-endowed, crustal-scale structural zones at the unconformable boundary between Temiskaming-Type sedimentary rocks and volcanic rocks of the Greenwater Formation; the same geological setting as Delta's Eureka Gold Zone.
The claims are contiguous with the Delta-1 property (see map below).
Figure 1: Map showing the location of the Delta-1 and Delta-1-Ternowesky Properties.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8482/218970_fbc55538d44af8df_001full.jpg
"Delta has assembled an outstanding land package with significant potential for multiple deposits, not only for gold mineralization, but also for magmatic copper-nickel deposits such as the former producing Inco Mine. The Delta team is already working up new gold targets for further testing later in 2024. We are anxious to reveal the true potential of this newly acquired ground as Delta takes a significant controlling land position in the Eastern Shebandowan Greenstone Belt," said André Tessier, President and CEO.
Delta has reached an agreement with the Vendors whereby Delta will pay
The agreement is subject to regulatory approval.
Qualified Person
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is a Qualified Persons 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 2.0 km, from surface to a vertical depth of 250 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, CEO and President
Tel: 613-328-1581
atessier@deltaresources.ca
or
Frank Candido, Chairman
Vice-President Corporate Communications
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/218970
FAQ
What is the size of Delta Resources' new land acquisition at the Delta-1 property?
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