Kingston, Ontario – September 7, 2022) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) (“Delta” or “The Company”) is pleased to update its shareholders on the recently completed drill campaign at the Delta-1 property in Thunder Bay, Ontario.
From May 10 to June 6, 2022, Delta completed a total of 2,719 metres of drilling in nine (9) drill holes. A total of 1793 samples were collected for gold and sent to SGS laboratories in Sudbury, Ontario for sample preparation and analysis.
The mineralized zone appears to have been intercepted in all drill holes, potentially extending the gold zone to a strike length of up to 830 metres and a vertical depth of up to 250 metres. Visible gold was observed in four (4) of the nine (9) drill holes, and rocks continue to be intensely silicified, sericitized, and ankeritized.
All assay results from the program are pending.
Delta Expands Land Position
Delta is also pleased to announce that it has acquired the exclusive rights to buy the surface and mining rights to a property adjacent to its Delta-1 property in Thunder Bay, Ontario. The 85-hectare property is contiguous with the Delta-1 property, immediately east of the Eureka Gold Prospect where Delta has just completed the drill program referenced previously.
Delta entered into a five-year lease agreement with the surface and mining rights landowners. During the five-year lease period, Delta will have the exclusive right to explore the property and to purchase a 100% interest in both the surface and mining rights to the property. Should Delta elect to purchase, it will pay market value times 10. Delta made a one-time cash payment of $60,000 to the landowners. There are no work commitments nor were any shares of the company issued. Should Delta elect to purchase the property during the five-year period, the landowners will retain a 2% NSR royalty of which Delta can elect to buy back 1% at anytime for the sum of $1,000,000.
With this agreement, Delta now controls an area of 57.6 square-kilometres, straddling the Shebandowan Structural Zone in the Shebandowan Greenstone Belt.
The Delta-1 property is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone which also hosts the low-grade – high-tonnage Moss Lake gold deposit, 50 km to the west.
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.
President and CEO
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
Frank Candido, Chairman
Vice-President Corporate Communications
Tel : 514-969-5530
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.