Mon, 20 Sep 2021

KINGSTON, ON / ACCESSWIRE / July 27, 2021 / Delta Resources Limited ('Delta' or 'the Company') (TSXV:DLTA)(OTCBB:DTARF)(FRANKFURT:6G01) is pleased to provide its assay results from its April 2021 drilling program at the Delta-1 Gold Property, 50 kilometres west of Thunder Bay, Ontario. A total of 1,376 metres were completed in eight drill holes during this program.

Some of the best results from this phase of drilling are shown in the table below (reported lengths are believed to be very close to true widths):

André Tessier, President and CEO commented as follows: 'These new results at Delta-1 are absolutely fantastic. We're now seeing wide intercepts of economic-grade gold mineralization reminiscent of Gold Shore's Moss Lake deposit, which is located to the west on the same structure. The grades and style of mineralization we have encountered at Eureka are very similar to those found at other significant gold deposits in the Abitibi such as the Detour, Rainy River and Côté deposits. We believe that these results indicate that we are onto something significant and that we are just getting started. We anxiously await to commence our next drilling program.'

Drill holes D1-21-07, 09, 10, 11 and 13 all intersected a wide zone of disseminated gold mineralization trending roughly EW and dipping 50° to 55° towards the north. The mineralized zone has now been traced for over 400m of strike length and extends from surface to a vertical depth of 150 metres, with the zone open along strike and to depth (see map and section attached. Current results suggest the mineralization is becoming higher grade and wider towards the west (see vertical section attached).

Discussion of Results

The gold mineralization is hosted within a sandstone that is intensely altered with ankerite, silica flooding and sericite. The sandstone is crosscut by amphibole-feldspar-phyric intermediate dikes, also altered by similar mineralogy. All units are cut by a network of quartz-ankerite-pyrite veinlets locally with disseminated grains of visible gold.

This new phase of drilling strengthened Delta's understanding of the geometry of the deposit, and it is believed now that drill holes D1-21-7, 8, 12 and 14 were drilled down-dip and may have missed additional mineralized zones. Furthermore, considering the depth at which drill holes D1-21-11 and 12, intersected bedrock, it is likely that the source of the high gold-in-till anomaly remains untested.

The objective of the drilling was to test a one-kilometer-long gold target believed to coincide with the Shebandowan Shear Zone; a deep seated structure that marks the northern boundary of the Shebandowan greenstone belt. The target is located at the north apex of a gold dispersion trail where till samples returned up to 457 gold grains in a 10kg sample (see press release dated March 11, 2021 and August 12, 2020). Depending on access, up to 14 drill holes were planned but for logistics purposes, Delta elected to remain south of the Trans-Canada Highway.

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 (Gold Shore GSHR:TSX.V), 50 km to the west.

Map of the Delta-1 Eureka area drilling showing the vertical projection of the disseminated-gold mineralized zone.

Vertical section looking east (090° azimuth) showing the mineralized zone in drill holes D1-21-10 and 11. The zone remains open in all directions and appears to become higher grade towards the west.

Analytical Protocol and QA/QC

Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories in Burnaby, British Columbia 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 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.

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 36M shares outstanding has a fully funded exploration for 2021 and in addition, is set to receive $1 M in scaled payments, starting August 1st 2021, 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
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. 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



View source version on accesswire.com:
https://www.accesswire.com/657221/Delta-Drills-Disseminated-Gold-Zone-Including-18m-of-125-gt-Gold-at-the-Delta-1-Gold-Property-Thunder-Bay-Ontario

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