Delta Confirms Gold-Bearing Structure over Two Kilometres and Provides Update on VMS Drilling
Kingston, Ontario--(Newsfile Corp. - April 7, 2022) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) ("Delta" or "the Company") announces its initial results from in its initial phase of drilling carried out in November and December 2021, at the Delta-2 Gold Property located 35 kilometres southeast of Chibougamau, Quebec.
Delta completed sixteen (16) exploratory drill holes for a total of 2,709 metres. The objective of the program was to test two (2) structures trending 060 azimuth, believed to host both the R14 gold prospect and Delta's new OLI gold discovery. These drill holes were systematically testing the structure at shallow depth. Two additional sub-parallel structures were also tested.
Every drill hole intersected anomalous gold values within the strongly deformed and altered structures confirming the presence of a gold-bearing structure for a minimum strike length of two (2) kilometres.
Many parallel and sub-parallel structures remain to be tested at the property and six (6) follow-up drill holes are currently underway for a total of an additional 1,000 metres.
"The results are significant and will help Delta focus on certain sections of these gold-bearing structures based on the intensity of alteration, deformation, and gold content. The fact that new gold-bearing structures were also intersected is also significant as many structures of similar character remain to be tested at the property," stated André Tessier, President of Delta Resources Limited.
Significant results are shown in map and table below:
Delta-2 Gold Property
To view an enhanced version of this graphic, please visit:
To view an enhanced version of this graphic, please visit:
THE DELTA-2 VMS PROPERTY:
Drilling is currently ongoing at the Delta-2 VMS property. So far, twenty-two (22) drill holes have been completed for a total of 4,904 metres. Drilling has so far tested three (3) gravity anomalies and nineteen (19) high-priority VTEM conductors. Borehole EM surveys will begin shortly. All assay results are pending.
An additional eight (8) targets are planned for testing before the spring thaw for an additional 1,390 metres.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at ALS Chemex Laboratories in Val D'Or, Quebec by atomic absorption method. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
Core logging and sampling was completed by Delta personnel. NQ-size drill core was sawed in half lengthwise and half of the core was sampled and sealed in clean plastic bags before being shipped for assay. The remaining half of the core was replaced in core boxes and is stored at Delta's core storage facilities in Chibougamau, Quebec. Standards and blanks are inserted in the sequence of samples on site as quality assurance and quality control in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Chemex Laboratories during the analytical process.
Andre C. Tessier, P.Eng and P.Geo. President and CEO of Delta Resources Limited is a Qualified Persons as defined by NI-43-101 and is responsible for the technical information presented in this press release. Mr. Tessier has reviewed the drill core and the analytical results described herein.
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, 200 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 49M shares outstanding, is currently funded for its 2022 exploration and in addition, is set to receive $400,000 in March, 2022, 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
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
Andre Tessier, CEO and President
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/119657