Kingston, Ontario – March 21, 2023 – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to provide an updated gold intercept in drill hole D1-22-24 and a newly revised interpretation of the Delta-1 Gold project located 50 km west of Thunder-Bay, Ontario.
Improved Gold Intercept of drill hole D1-22-24:
On February 9, 2023, Delta had announced a gold intercept of 5.32 g/t over 8.0 metres on drill hole D1-22-24. Additional metallic sieve analyses of the mineralized zone have now increased the gold intercept to 6.49 g/t gold over 10.0 metres with an additional one metre sample returning 22.22 g/t gold (see Table 1).
New Geophysical and Geological Interpretation:
As Delta continues its current drill campaign at Delta-1, new structural and geophysical insights on the Eureka mineralized zone have emerged that significantly enlarge the potential area for gold on the property.
As previously reported in a press release dated February 9, 2023, high-grade drill intercepts from drill holes D1-22-18, D1-22-24 and D1-22-25 (see Table 1 for previously released significant results) suggest that higher-grade gold occurs towards the east and at depth. From these most recent drill holes, the following conclusions can be drawn:
TABLE 1: Significant results from drill holes D1-22-18, D1-22-24 and D1-22-25
The interpretations and possible implications of these new observations are as follows:
André Tessier, President and CEO, commented:”With each drilling program at Delta-1, we are gaining a better knowledge of the mineralized zone with gold-grade intercepts also improving. This is truly a very exciting project for Delta and the new interpretations provided in this release are just getting the team even more excited. Delta is now drilling to test the eastern extension of the zone and we are waiting for the results of our first holes with great anticipation.”
DELTA-1 DRILLING UPDATE
Delta has now completed 13 drill holes (D1-23-26 to D1-23-38) for a total of 3,505 metres from its previously announced on January 2023 drill program, testing the 3D modeled eastern extension of the Eureka Gold Zone. Unfortunately, continued cold weather in the area has forced the drilling program to be temporarily suspended due to a lack of water availability, which is required to operate the drill. This issue is expected to be resolved shortly and Delta will update its shareholders when drilling resumes at Delta-1 with an expanded drill program. Preliminary observations on the initial 2023 drill holes were released on March 1, 2023, but all assay results are still pending. Initial assay results are expected within a few weeks.
Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program (“OJEP”) in 2022-23. Delta will be receiving up to $200,000 upon completion of its exploration program at Delta-1.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories. Sample preparation was performed in Sudbury, Ontario. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
The following assaying protocol was adopted at Delta-1 in an attempt to reduce the assay variability due to nugget effect caused by visible gold:
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. 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.
Andre Tessier, P.Eng and P.Geo, President and CEO of Delta, and Daniel Boudreau, P.Geo. Manager of Exploration of Delta Resources Limited are the Qualified Persons as defined by NI-43-101. Both have 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.
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
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.