Delta Resources Ltd. Returns Drills to Its New Gold Discovery at Its Delta-2 Gold Property in Chibougamau
The primary objective of this phase of drilling is to better understand the geometry of the two mineralized zones intersected in drill holes D2-21-28 and 29. Up to (7) seven drill holes are planned for a total of approximately 1000 metres. Delta is planning to test the extensions of the mineralized zones after the spring breakup.
As announced in a press release dated March 4th, 2021, Delta reported high grade gold intercepts in two drill holes with the following results (core angles suggest true thicknesses to be close to drill-core lengths):
Drill Hole D2-21-28:
- 24.6m to 27.1m: 18.88 g/t gold over 2.5m
Including: 50.75 g/t gold over 0.9m
- 120.8 to 121.6m: 14.08 g/t gold over 0.8m
Drill Hole D2-21-29:
- 25.0m to 27.0m: 3.76 g/t gold over 2.0m
- 116.4m to 117.5m: 1.81 g/t gold over 1.2m
Including: 3.13 g/t Gold over 0.5m
The new discovery was made while testing the extensions of the Due Diligence gold occurrence discovered through prospecting by Delta in 2019. At Due Diligence, surface grab samples had returned up to 55.8 g/t gold in grab samples (see press release October 28, 2019) while channel samples returned 22.97 g/t gold and 10.25 g/t gold over 25 centimetres (see press release October 26, 2020).
To clarify further communications to investors, Delta Management has decided to subdivide its Delta-2 Property to better reflect the sought-after commodities in the different parts of the property. As of this press release:
- THE DELTA-2 GOLD PROPERTY will refer to the southwestern portion of the property which shows a high potential for hydrothermal gold mineralization.
- THE DELTA-2 VMS PROPERTY will refer to the northeastern portion of the property where Delta is exploring for gold-rich Volcanogenic Massive Sulphide (VMS) deposits.
Sampling, Analytical Protocol
Geochemical analyses were performed by SGS Canada Minerals Laboratories in Lakefield, Ontario and Burnaby British Columbia.
Core logging and sampling were completed by Laurentia Exploration and Delta Geologists in Chibougamau, Quebec. Drill core is cut in half and one half of the core is sealed in clean plastic bags on site. 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.
Gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples are crushed to 90% less than 2 mm prior to pulverization. The samples are homogenized, and half of the crushed sample is pulverized (the other half kept for re-analysis purposes if necessary). Once pulverized, 100% of the coarse fraction is weighed and analyzed and the fine fraction is weighed and analyzed with three separate analyses on 50 grams of material each.
Michel Chapdelaine, P.Geo. and Vice-President of Exploration at Delta Resources Ltd. is a Qualified Persons as defined by NI-43-101 and is responsible for the technical information presented in this press release.
About Delta Resources Limited
Delta Resources Ltd. 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, 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 an additional $1M in scaled payments, from August to December 2021, through the sale of its Bellechasse-Timmins gold project in SE Quebec.
ON BEHALF OF THE BOARD OF Delta Resources Ltd..
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:
Contact Delta Resources Ltd.
Frank Candido, Chairman
Andre Tessier, President and CEO
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 include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. 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 Ltd.