Kingston, Ontario – April 24, 2023 – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to announce that it will resume drilling this week at the Delta-1 Project in Thunder Bay, with an additional 5,000 metre drilling program.
The program will be predominantly aimed at the “Deep Blue” magnetic low anomaly spanning over 1.5 kilometres southeast from drill hole D1-23-38 (Figure 1). The “Deep-Blue” magnetic low anomaly is believed to be associated with magnetite-destruction alteration associated with the gold-mineralizing processes.
Figure 1: Total Magnetic map showing the location of Delta’s drill holes. Delta is planning to initiate a 5,000 metre drilling program this week, testing amongst other targets, the “Deep Blue” magnetic low target located east-southeast of where the Phase 1 of 2023 was focussed. The target is at least 1.4 kilometres long and has never been drill tested.
Delta is also pleased to share visuals of the mineralized zone encountered in drill hole D1-23-38, for which assays are still pending. Drill hole D1-23-38 is the only drill hole to date that has tested near the “Deep Blue” magnetic low anomaly. Significant visible gold was observed at drill hole depths of 63.4 metres and 69.2 metres (see photos) in intensely altered mafic volcanic rocks.
Photo 2: Photo of visible gold observed in drill hole D1-23-38. The background shows part of the interval from which the visible gold was observed. The wooden blocks with numbers represent the meterage down the drill hole. The hole was drilled at a 40 degree inclination so the intercept at 63 metres is in fact at a vertical depth of 40.5 metres. All assays are pending.
Andr Tessier, President, and CEO commented:”We are extremely excited by the visuals from drill hole D1-23-38 and look forward to assay results. We are just as excited to announce the commencement of our next 5,000 m drill program which will focus on drilling eastward from hole 38 within the expansive “Deep Blue” magnetic low geophysical target!”
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 kilometres strike extent of the Shebandowan Structural Zone.
Qualified Person
Daniel Boudreau, P.Geo. and Manager of Exploration of Delta Resources Limited, is a Qualified Person as defined by NI-43-101, and 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 1500 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
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:
Delta Resources Limited
Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
fcandido@deltaresources.ca
or
Andre Tessier, CEO and President
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.