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Kingston, Ontario – October 23, 2023 – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to provide additional assay results from its second phase of drilling previously announced on June 6, 2023 at the Delta-1 Gold project located 50 km west of Thunder Bay, Ontario.
Results of five (5) additional drill holes are provided in Table 1 below following the release of twenty-eight (28) drill holes on September 12, 2023 and October 5, 2023.
So far in 2023, Delta has completed 60 drill holes (D1-23-26 to D1-23-86) for a total of 19,620 metres. Assay results for fifteen (15) drill holes are still pending.
Highlights:
Increased Gold Inventory at Delta-1:
New High-Grade Zones intercepted at depth:
André Tessier, President and CEO commented: “We continue to receive very encouraging drill results at Delta-1 and our level of excitement continues to grow. The new results are actively being integrated into our ongoing geological modelling and target review process. Once this review process has been completed, we look forward to continuing the drill program with the objective of growing the size of this very exciting gold project in this exceptional Canadian location surrounded by tremendous infrastructure.”
The complete table of results from this release is shown below at Table 1:
TABLE 1: Table of new drilling results at the Delta-1 Project; October 23, 2023.
| DRILL HOLE NO | UTM Coordinates Zone 16 | Azimuth | Incl. | Length (m) | ZONE | FROM (m) | TO (m) | Au Grade (g/t) | CORE LENGTH (m) | |
| Easting | Northing | |||||||||
| D1-23-67 | 290659 | 5385263 | 180 | -45 | 378 | β | 39.00 | 79.20 | 0.66 | 40.20 |
| incl. | β | 59.00 | 79.20 | 0.95 | 20.20 | |||||
| New | 282.80 | 284.30 | 24.40 | 1.50 | ||||||
| D1-23-68 | 290712 | 5385357 | 180 | -45 | 600 | β | 237.50 | 303.40 | 0.54 | 65.90 |
| incl. | β | 270.50 | 303.40 | 0.73 | 32.90 | |||||
| New | 406.00 | 446.50 | 0.80 | 40.50 | ||||||
| incl. | New | 409.00 | 436.30 | 0.98 | 27.30 | |||||
| New | 539.50 | 540.50 | 12.50 | 1.00 | ||||||
| incl. | New | 574.50 | 576.00 | 11.20 | 1.50 | |||||
| D1-23-69 | 290103 | 5385393 | 180 | -60 | 276 | β | 48.80 | 76.60 | 2.25 | 27.80 |
| incl. | β | 73.60 | 75.60 | 16.16 | 2.00 | |||||
| β | 120.10 | 141.20 | 0.46 | 21.10 | ||||||
| incl. | β | 129.20 | 141.20 | 0.58 | 12.00 | |||||
| β | 153.20 | 161.00 | 0.82 | 7.80 | ||||||
| γ? | 229.50 | 250.50 | 0.55 | 21.00 | ||||||
| D1-23-70 | 289996 | 5385409 | 180 | -45 | 300 | β | 39.60 | 97.00 | 0.38 | 57.40 |
| incl. | β | 73.50 | 94.00 | 0.64 | 20.50 | |||||
| γ? | 258.50 | 259.80 | 7.78 | 1.30 | ||||||
| D1-23-71 | 289923 | 5384959 | 340 | -50 | 147 | Abandoned before reaching target | ||||
| α=Alpha, β=Beta, γ=Gamma | ||||||||||
Geological Discussion
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 19 km strike extent of the Shebandowan Structural Zone. Gold mineralization at Eureka, occurs within a broad corridor of highly altered (ankerite-calcite-silicification and albitization) rocks exhibiting highly anomalous gold values of up to 0.2 g/t gold. Higher-grade mineralization within this corridor is associated with a stockwork of quartz-ankerite-pyrite-gold veinlets, with increased density of these veinlets generally proportional to increased gold grade. The gold mineralized zones have so far been intersected for a strike of approximately 1.8 kilometres, with a higher-grade segment extending for nearly 950 metres. So far, the down-dip length of the mineralized zone is approximately 250 metres (220 metres vertical depth). Mineralization strikes approximately 100 to 120 degrees azimuth, with a dip of 75-80 degrees north (shallower dips of 50N are observed in the western portion of the zone). Higher-grade, wide ore shoots are observed and appear to be plunging approximately 40 degrees towards the west, within this structural corridor. Similar ore shoots are often observed in structurally controlled gold deposits and often occur with a certain periodicity. The currently defined ore shoots are open at depth.
The Next Steps
Delta has paused drilling in early October 2023 to analyze and further interpret the very large amount of geological, structural and geochemical data accumulated since the beginning of this phase of drilling. Assay results for fifteen (15) drill holes are still pending. Delta is currently completing a 37-line kilometre 3D Induced Polarization survey to better characterize the known mineralized zone and explore the extensions of the gold-bearing structure. Delta also started probing selected drill holes using a downhole televiewer instrument which is collecting valuable structural information on possible fault and vein orientations. This multidisciplinary approach will be used to help vector towards new mineralized zones within the gold-bearing structure. Delta will resume its drill campaign shortly after this work is completed.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at AGAT Laboratories. AGAT Laboratories is accredited to ISO 17025 by the Standards Council of Canada (SCC). Sample preparation was performed in Thunder Bay, 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.
Qualified Persons
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is the Qualified Persons as defined by NI-43-101. He has supervised the drilling program in the field and reviewed the technical information presented in this press release.
Ontario Junior Exploration Program
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 exploration program at Delta-1.
Figure 1: Map of the Eureka Gold Zone, showing the new assay results from this press release. The map also shows the alteration corridor that is hosting the gold mineralization and the East Extension of the mineralized zone. This alteration corridor is defined over approximately five kilometres of strike length at Delta-1. Additional drilling will be testing for the presence of high-grade gold shoots within this corridor.
Figure 2: Vertical Cross Section, Looking East of drill holes D1-23-40, D1-23-41 and D1-23-68. The section shows that drill hole D1-23-68 intersected the down-dip extension of the gold mineralization previously intersected in drill holes D1-23-40 and 41 by 100 metres downdip. D1-23-68 also intersected new gold zones at depth (0.80 g/t Au over 40.5 metres, 12.5 g/t Au over 1.0 m and 11.2 g/t Au over 1.5 m). Additional drilling will be testing the continuity of these new zones.
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 is Delta’s flagship project, where the company is building gold ounces 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over 1.8 km from surface to a vertical depth of 250 m. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (incl. 14.8 g/t Au over 11.9 m), and 1.79 g/t Au over 128.5 m. The property covers 107 square kilometres and Delta has identified a 5 km long corridor of intense alteration and deformation at the property, on strike with the gold zone, that has yet to be thoroughly explored.
The DELTA-2 property 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 0.76 Mt 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
www.deltaresources.ca
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 Limited
Frank Candido, Chairman
Tel: 514-969-5530
fcandido@deltaresources.ca
or
Andre Tessier, President and CEO
Tel: 613-328-1581
atessier@deltaresources.ca
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.
Source: Delta Resources Limited
