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Delta Resources Limited (DTARF) is a Canadian mineral exploration company with a focus on gold and base-metal projects in Canada. The company recently announced expansion of its drill campaign at the Delta-1 Project, adding to the success of its previous explorations. Delta-1, the flagship project, shows promising results, with gold mineralization defined over a significant strike length. The company's strategic acquisitions and exploration efforts position it as a key player in the mineral exploration sector.
Delta Resources Limited has received a fourth tranche cash payment of $200,000 from Yorkton Ventures for the sale of its Bellechasse-Timmins Gold Deposit in Quebec. The revised payment schedule includes four additional planned payments of $200,000 each due by December 1, 2021. Moreover, Yorkton will pay a 1% Net Smelter Return (NSR) royalty on any commercial production from the property, with an option to repurchase 0.5% of the NSR for $1 Million. Delta focuses on enhancing shareholder value through high-potential mineral exploration projects across Canada.
Delta Resources Limited announces positive assay results from its April 2021 drilling program at the Delta-1 Gold Property, located 50 km west of Thunder Bay, Ontario. The drilling covered 1,376 metres and identified significant gold mineralization across several drill holes. Key results include wide intercepts of economic-grade gold, with mineralization now traced for over 400 metres. The company plans further drilling to explore the high-grade zones. Delta has a fully funded exploration program for 2021 and expects to receive $1 million from the sale of its Bellechasse-Timmins project starting August 1, 2021.
Delta Resources Limited has announced the acquisition of a 100% interest in eight claims in Thunder Bay, Ontario, contiguous to the Delta-1 property. The transaction involves a one-time payment of $6,000 and the issuance of 200,000 common shares to the vendor, who retains a 1.5% net smelter return royalty. Delta is awaiting assay results from its April 2021 drill campaign and has plans for further exploration activities in late summer and fall 2021. The company is fully funded for exploration activities in 2021 and expects $1 million in payments from the sale of another project.
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.
Delta Resources Limited held its Annual and Special Meeting on June 28, 2021, where shareholders approved all proposals from the Board and Management. Directors Frank Candido, Andre C. Tessier, Roy Millington, Kevin B. Heather, and Sara Marcotte Paquet were re-elected. KPMG was appointed as auditors, and the stock option plan was re-approved. Delta, focused on mineral exploration in Canada, has two high-potential projects and is set to receive $1 million in payments starting August 1, 2021, from the sale of its Bellechasse-Timmins gold project.
Delta Resources Limited has successfully bought back 50% of a Net Smelter Return (NSR) royalty on its Delta-1 Property from the Ontario Exploration Corporation for $35,000. This acquisition gives Delta the option to purchase the remaining 50% NSR for an additional $50,000, potentially eliminating future royalty payments on key claims, including the Eureka Gold prospect. Delta's CEO, André Tessier, emphasized the importance of this move after recent exploration successes. The company remains focused on maximizing shareholder value through its mineral exploration projects.
Delta Resources Limited has optioned the Dollier Property in Chibougamau, Quebec from Cartier Resources Inc. for a non-refundable payment of $10,000 and a commitment to issue 600,000 shares over four years, alongside $1 million in exploration expenditures. The agreement is pending TSX approval. The property, which contains significant gold prospects, will enhance Delta's existing VMS property package. Upon completion, Cartier is entitled to a 2% NSR royalty, with Delta having the right to buy back 1% for $2 million and the second 1% for $15 million.
Delta Resources Limited announced the completion of a drilling program at its Delta-1 Gold Property, located 50 km west of Thunder Bay, Ontario. A total of 1,376 meters were drilled across eight holes, targeting a gold dispersion trail identified through till sampling. Significant alteration zones were identified, extending over 400 meters. All assays are pending and expected within four to six weeks. The company has 35 million shares outstanding and is fully funded for 2021 exploration, anticipating $1 million from the sale of its Bellechasse-Timmins gold project.
Delta Resources Limited announces promising results from its recent drill campaign at the Oli-Gold discovery in Chibougamau, Quebec. Highlights include:
- 27.93 g/t over 3.3m with peaks of 106 g/t over 0.8m
- 5.74 g/t over 1.8m featuring 12.2 g/t over 0.6m
- 12.13 g/t over 3.5m including 56.70 g/t over 0.7m
Seven drill holes were executed, revealing mineralization across five holes. The company plans further drilling to investigate additional gold targets.
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