Kingston, Ontario – January 17, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to announce that it has returned to the field to begin a 5,000 metre drilling program at the Delta-1 Property, 50 kilometres west of Thunder Bay, Ontario. The program will be spanned over two phases with an initial program that will be aimed at extending the Eureka Gold zone towards the east, along strike with drill hole D1-22-18 where assay results announced on October 19, 2022 returned:
5.92 g/t gold over 31.0 metres
Including 14.80 g/t Au over 11.9 metres
Including 72.95 g/t Au over 2.2 metres
Delta is also waiting for final results from step-out drill holes D1-22-24 and D1-22-25, drilled respectively 50 m and 100 m east of Drill hole D1-22-18 (see attached map). As per Delta’s analytical protocol at Delta-1, any fire assay returning over 2.0 g/t Au is re-assayed using metallic sieve analysis; hence the delay in receiving final results.
Delta is also planning on testing other targets at Delta-1 with similar geological setting and geophysical signatures as the Eureka Gold Zone.
Figure 1: Delta is currently waiting for final assay results from drill holes D1-22-24 and D1-22-25, shown in this plan view map showing the geology at Eureka, projected up-dip to the surface.
The mineralized zone trends roughly 100? azimuth, dips 50? towards the north, and has now been intersected over a strike length of approximately 850 metres and a vertical depth exceeding 200 metres. Further east, the zone appears to turn to 110?-115? azimuth and dips become much steeper dipping.
The gold mineralization is hosted within sandstone, feldspar-phyric dikes and volcanic rocks immediately north of ultramafic volcanic flows. Kilometre-scale, texture destructive alteration consists of intense ankeritization, sericitization and silicification. Gold mineralization consists of a network of multiple generations of quartz-ankerite-pyrite veinlets locally with disseminated grains of visible gold.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 kilometres strike extent of the Shebandowan Structural Zone which also hosts the low-grade – high-tonnage Moss Lake gold deposit (Goldshore Resources), 50 kilometres to the west.
Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program (“OJEP”). Delta will be receiving up to $200,000 upon completion of its 2022 exploration program at Delta-1.
Daniel Boudreau, P.Geo. and Manager of Exploration of Delta Resources Limited is a Qualified Person as defined by NI-43-101 will be supervising the drilling program. Mr. Boudreau 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 covers 58.3 square kilometres located 50 kilometres west of Thunder Bay, Ontario where a gold mineralized zone 950 metres long was outlined through drilling in a multi-kilometre-scale intense alteration halo. Best grades to date include a drill intercept of 14.8 g/t Au over 11.9 metres, within a broader interval of 5.92 g/t Au over 31 m. The zone is open in all directions.
DELTA-2 VMS and DELTA-2 GOLD covers 194 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 0.76Mt 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.
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.
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