KINGSTON, ON / ACCESSWIRE / February 26, 2020 / Delta Resources Limited (“Delta” or “The Company”) (TSXV:DLTA) is pleased to announce its final drill results from its first exploratory drilling program at the Delta-1 Property, 50 kilometres west of Thunder Bay, Ontario.
Delta completed a total of 1,009 metres of drilling in six drill holes in late November 2019, testing the Eureka Gold Occurrence. Preliminary results were press released on January 8th, 2020 (https://deltaresources.ca/delta-resources-announces-preliminary-results-from-its-first-drilling-program-at-the-eureka-gold-discovery-thunder-bay-mining-district-ontario/). Current results include additional sampling that followed.
Results to date show a very wide zone of low-grade gold mineralization intersected over a 200 metres strike length and extending vertically from surface to a depth of up to 110 metres. The mineralized zone is open to the North, West, East and at depth.
Andre Tessier, Chief Executive Officer of Delta Resources, commented as follows:
“We’re very encouraged by these first results at Eureka. These wide intercepts of pervasive alteration and low-grade disseminated-style gold mineralization in weakly deformed rocks are telling us the mineralizing system is very strong. The objective of future exploration will be to identify the feeder structures that host the higher-grade gold mineralization.”
Complete results are as follows:
|Core Length (metres)|
*Delta’s current interpretation suggests that true widths of the mineralized zones are approximately 70% of the drill intercepts.
From north to south, drilling intersected clastic sediments, ultramafic flows and feldspar-phyric mafic flows crosscut by dikes of intermediate composition. Pervasive, intense alteration, consisting of ankeritization and silicification affects all of the aforementioned rock types and is followed by at least two generations of hydrothermal breccias.
Gold mineralization occurs in all rock types except the feldspar-phyric flows where it has not yet been observed. Gold mineralization is typically disseminated, although at least three generations of quartz-carbonate-albite stockwork veins are observed. Exact timing of the gold mineralization has not been determined. To date, the rocks intersected in drill core are only weakly deformed. Delta has not intersected the Shebandowan Structure that could potentially concentrate and channel gold mineralization or remobilize and concentrate early gold. The Delta team is currently working to determine the relationship between these newly intersected, broad and open disseminated gold zones and the higher-grade gold occurrences in the area.
Delta applied for exploration permits in January (which includes 20,000 metres of drilling) to resume work at the property in the short term.
The 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.
Maps and sections are attached to this press release and available at www.deltaresources.ca under the “news” tab. A short video about the results can also be accessed by following this link: http://youtu.be/M-7uapc4s5g. The same video is also available in the “Investors/President’s Message” tab at www.deltaresources.ca
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories in Red Lake, Ontario (ISO/IEC 17025 certified), 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.
NQ-size drill core was sawed in half lengthwise and half of the core was sampled based on geological observations. The remaining half of the core was replaced in core boxes and is stored on site. Drill core samples were bagged and sealed before being transported to SGS Canada Minerals’ laboratory in Red Lake.
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 acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.
Delta owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec, Canada which contains a 43-101 gold resource of 171,000 ounces at an average grade of 1.83 g/t gold in the indicated category and an additional 95,000 ounces at an average grade of 1.36 g/t gold in the inferred category (SGS Canada Inc., Bellechasse-Timmins Property Resource Estimate, Southeastern Quebec, August 1, 2012).
The company’s focus is currently to build a strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada while evaluating the long-term potential of its 100% owned Bellechasse-Timmins gold deposit in southeastern Quebec.
In October 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area and the Delta-2 Property which hosts the R-14 Gold Prospect in the Chibougamau Mining District of Quebec.
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. 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.
Geological Map of the Delta-1 Property showing the location of the Eureka Gold Discovery.
Interpreted Geological Map of the drill Site at Eureka showing the location of the drill holes.
Vertical Section of the Eastern drill hole fence at Eureka showing the extent of the mineralization.
Vertical Section of the Western drill hole fence at Eureka showing the extent of the mineralization.
SOURCE: Delta Resources Limited
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