Kingston, Ontario--(Newsfile Corp. - July 9, 2024) - Delta Resources Limited (TSXV: DLTA)(OTC Pink: DTARF) (FSE: 6G01) ("Delta" or "The Company") is pleased to announce the completion of the field portion of an extensive till sampling program at its Delta-1 Gold Project, located approximately 50 kilometres west of the City of Thunder Bay, Ontario.
The survey consists of a series of sampling fences spaced at every 1-1.2 km, oriented orthogonal to the dominant local ice-flow direction (here E-W to WNW-ESE). Samples within each fence are spaced by approximately 300 metres. The survey covers an area of roughly 80 km2 and consists of 224 sample sites.
The goal of the 2024 sampling program was to complement and expand on a previous surveys carried out in 2020 (see press release August 12, 2020). The 2020 till survey was highlighted by anomalous gold-grain counts that helped define the footprint of the Eureka zone prior to Delta's 2021 and 2022 drilling programs and helped in the discovery of the Delta-1 Gold deposit.
During the summer 2020 survey, a well-defined dispersion trail of gold grains was outlined south of the Eureka Gold Zone. Within this dispersion trail, 41 to 457 gold grains were recovered from individual samples (on normalized 10 kg fraction-size samples). Pristine grains accounted for 78% to 99% of the total gold grains. The pristine character of the gold grains indicated that there had been very little transport and hence the gold grains were interpreted to be proximal to a bedrock source.
The 2020 and 2024 sampling programs were carried out by IOS Geoscientific Services, a leading expert in the field of glacial sediment sampling and geochemistry in Canada.
André Tessier, President, and CEO commented: "Delta has now proven the Delta-1 Gold property can host a significant orebody with the discovery of the Eureka Gold Zone. The team is optimistic for the potential of the Shebandowan area at large and is now taking a systematic approach with proven methods to explore the vast area of Delta's newly expanded property."
Initial gold count results (including the morphology of the gold grains) for the first samples are expected later this summer, with follow-up exploration work starting immediately thereafter. Meanwhile, geological mapping and prospecting work is ongoing on the newly acquired properties.
Qualified Person
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is a Qualified Person as defined by NI-43-101 and has reviewed 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 is Delta's flagship project, where the company is building on a large gold inventory 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over a strike length of 2.0 km, from surface to a vertical depth of 250 m. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (incl. 14.8 g/t Au over 11.9 m), and 1.79 g/t Au over 128.5 m. The property covers 220 square kilometres and Delta has identified a 5 km long corridor of intense alteration and deformation at the property, on strike with the gold zone, that has yet to be thoroughly explored.
The DELTA-2 property covers 205 square kilometres in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
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 Andre C. Tessier, CEO and President Tel: 613-328-1581 [email protected]
or
Frank Candido, Chairman Vice-President Corporate Communications Tel: 514-969-5530 [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. 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.
