Delta Starts Drilling at Its Delta-2 Gold and VMS Property in Chibougamau, Quebec
Delta Resources Limited has initiated a comprehensive drilling program at its Delta-2 VMS and Gold Property, located near Chibougamau, Quebec. The initiative targets over 75 high-priority drill targets across the 194 square-kilometre site, with plans for a total of 36 drill holes spanning 7,400m for VMS and 42 drill holes totaling 7,750m for the Gold project. Financing for this ambitious campaign was announced earlier in November 2021, signaling strong potential for gold and VMS deposits.
- Initiated drilling program targeting over 75 high-priority drill sites.
- Plans include 36 drill holes for a total of 7,400m at VMS and 42 holes for 7,750m at Gold.
- Drill targets show promising geophysical signatures associated with known deposits.
- Partial funding secured through recent financing initiatives.
- No immediate negative aspects reported.
KINGSTON, ON / ACCESSWIRE / November 17, 2021 / Delta Resources Limited ("Delta" or "the Company") (TSXV:DLTA)(OTC PINK:DTARF)(FRANKFURT:6G01) is pleased to announce that it has begun a comprehensive drilling program at the Delta-2 VMS and Gold Property, 35 kilometres southeast of Chibougamau, Quebec.
Over 75 high-priority drill targets have been outlined at the 194 square-kilometre property on the combined VMS and Gold projects.
André Tessier, President and CEO commented as follows: "We're extremely happy to have secured a drill and crew from Miikan Drilling for this work, and we're just as excited to be testing these truly fantastic Gold and VMS targets at Delta-2. This is certainly the most important and ambitious drill campaign which we have embarked on to date and we are very excited about the prospects for these high level and priority targets" said Andre Tessier, President, Delta Resources Limited.
At the Delta-2 VMS project, Delta will be drill-testing:
- Three (3) deep gravity anomalies with responses comparable to those over known world-class VMS deposits such as the Lemoine Mine (see press release June 22, 2021).
- Up to 30 high-priority VTEM conductors showing geophysical signatures typical of VMS deposits.
Up to 36 drill holes are planned at the property-scale for a possible total of 7,400m, with the highest priority holes drilled first.
In addition to drilling, 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.
At the Delta-2 Gold project Delta will be drill-testing:
- Two (2) structures trending 060 azimuth and hosting both the R14 gold prospect and Delta's new OLI gold discovery (see press release on April 21, 2021). The structures span several kilometres and remain largely untested between the gold occurrences and along strike.
- A new and never drill-tested gold-bearing structure trending 020 azimuth which hosts the newly discovered (summer 2021) Lone Pine gold occurrence where 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 strike length of up to 1.5km.
- Several never-tested structures trending both 020 and 060 azimuth, that were outlined on LiDAR imagery and shown to be gold-bearing during Delta's summer and fall 2021 program of geological mapping, sampling, prospecting, and mechanical trenching. Intersections between structures with these prospective orientations are also targeted.
Up to 42 drill holes are planned mainly in the southern portion of the property, for a possible total of 7,750 metres. Delta is partially funding this drill campaign through a financing announced earlier this month (see press release on November 1, 2021) and will keep its shareholders and stakeholders appraised of any developments with respect to the financing and the drill campaign.
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 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 time or in response to any event.
SOURCE: Delta Resources Limited
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https://www.accesswire.com/673371/Delta-Starts-Drilling-at-Its-Delta-2-Gold-and-VMS-Property-in-Chibougamau-Quebec
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