KINGSTON, ON / ACCESSWIRE / December 10, 2020 / Delta Resources Limited ("Delta" or "the Company") (TSXV:DLTA)(OTCBB:GOLHF)(FRANKFURT:6G01) is pleased to announce that it was granted the necessary encroachment permit to drill-test its Trans Canada Gold target at the Delta-1 Property, 50 kilometres west of Thunder Bay, Ontario.
This initial permit, granted by the Ontario Ministry of Transportation ("MTO"), will allow Delta to drill up to 14 drill holes totalling 4,200 metres at any time between January and November 18, 2021. The drill holes will initially be testing the Trans Canada Gold Target over a minimum strike length of 700 metres underneath and south of the highway.
Since Delta acquired the Delta-1 property in October 2019, the Company has focussed its exploration efforts on the Eureka Gold occurrence area in the central-east portion of the property. This work includes Delta's maiden drilling program in November 2019 (six drill holes totaling 1000 metres), a reconnaissance basal till survey during the summer of 2020 and a geological mapping and sampling program in October 2020. All exploration work to date provide a convergence of evidence that points to the Shebandowan Structural zone and a possible subsidiary structure that lie immediately adjacent or underneath the Trans Canada Highway.
To date, these geological indicators include (please also see map attached):
- A gold halo grading approximately 0.2 g/t Au, extending south of the structure for at least 150 metres and for a minimum strike length of one kilometre (open to the east and west). This gold halo was defined by Delta's 2019 drill program and by grab samples that returned assays ranging from 0.2 g/t to 3.6 g/t gold collected in October 2020. Additional near-surface drill intercepts from Delta's 2029 drill program also include: 0.73 g/t Au over 22m and 0.64 g/t Au over 27.5m.
- A halo of intensely altered volcano-sedimentary rocks of similar strike length as the gold halo (also open to the east and west) but extending 400 to 600 metres south of the Shebandowan structural zone.
- Very high gold grain counts in till samples (between 41 and 457 gold grains with 78% to 99% pristine) from Delta's summer 2020 till program, located within 60 metres south of the Shebandowan structural zone.
- Geological mapping which shows the juxtaposition of the intensely altered and mineralized volcano-sedimentary rocks south of the highway with younger, non mineralized rocks north of the Trans Canada Highway. At that locality, the structure also corresponds with a 30-metre drop of topographic elevation.
Following the success of Delta's pilot till survey, a property-scale till survey was also carried-out during September and October of 2020. Results are expected in late December 2020.
The Delta-1 property is located in the Shebandowan Greenstone Belt and covers a 17km strike extent of the Shebandowan Structural Zone which also hosts the low-grade - high-tonnage Moss Lake gold deposit (Wesdome; WDO:TSX), 50 km to the west.
Sampling and Analytical Protocol Geochemical analyses were performed by SGS Canada Minerals Laboratories in Red Lake, Ontario. Gold geochemical analyses were performed by fire assay with finish by Atomic Absorption.
The quality assurance and quality control protocol include insertion of blank or standard in addition to the regular insertion of blank, duplicate, and standard samples accredited by SGS Canada Minerals Laboratories during the analytical process.
Qualified Person
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.
Compilation map of the Eureka area of the Delta-1 property, Thunder Bay, Ontario. Showing the extensive
alteration and gold halo and till samples pointing to the Trans-Canada Highway Target.
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, located 50km west of Thunder Bay, Ontario where a 1000m drilling program was completed in Nov. 2019, testing the newly discovered Eureka Gold prospect. Results so far show very wide intercepts of low-grade gold in a km-scale alteration zone.
- DELTA-2, located 35km SE of the Chibougamau, Quebec, where preliminary due diligence and prospecting work discovered two new gold occurrences where grab samples returned up to 55,8 g/t Au and 11,45 g/t Au.
Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in SE Quebec, which contains a 43-101 gold resource of 171,000 oz @1.83 g/t gold (indicated) and an additional 95,000 oz @1.36 g/t gold (inferred). On July 3, 2020, Delta signed an agreement with Yorkton Ventures Inc for the sale of the Bellechasse-Timmins project for $1,7M payable over 15 months of signing.
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
[email protected]
or
Andre Tessier, CEO and President
Tel: 613-328-1581
[email protected]
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