London, United Kingdom–(Newsfile Corp. – May 11, 2023) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to provide assay results from the last four drill holes of our 2023 Phase 1 drill program along with initial observations on our first drill holes of the 5000 metre Phase 2 drilling at the Delta-1 gold project located 50 km west of Thunder-Bay, Ontario.
Wide intercepts of gold mineralization were intersected near surface in drill holes D1-23-35 and D1-23-36, extending this style of mineralization an additional 100 metres east of the previously reported drill holes (see release April 25, 2023).
Drill hole D1-23-38 intersected exceptionally high-grade gold mineralization in narrower intervals east of a NE-trending cross fault that displaced the mineralized zone towards the south. It is unclear at this point how this high-grade mineralization correlates with the very wide intervals of lower grade west of the cross structure. Vein widths, density of veining and grade distribution can be highly variable within these large gold systems and hole D1-23-38 is typical of that variability along the favourable structure and geophysical target.
Delta is also pleased to report that the first step out drill holes from Delta’s second phase of drilling announced April 24, 2023 have now been completed. In yet another step out of 100 metres east of drill hole D1-23-38, drill holes D1-23-40 and D1-23-41, appear to mark a return to the very wide intervals of gold mineralization with visible gold observed in both drill holes. Drill holes D1-23-40 and D1-23-41 are the first drill holes directly testing the “Deep Blue” Target.
Assays from the new drill results from Phase 1 are as follows (see also Table 2 and Figures 1 to 3):
Table 1: Assay results from drill holes D1-23-35 and D1-23-38. Reported grades are uncut. True widths are believed to be 60% to 87% of reported lengths depending on the inclination of drill holes.
André Tessier, President and CEO commented: “These Bonanza grades at Delta-1 are very impressive but more important is the fact that we are doing large, 100 metre step outs and are still consistently hitting strong alteration with higher-grade gold segments hosted within a broader zone of low to moderate grade gold. This speaks to the strength of the mineralizing system and the upside potential as our drilling progresses eastward into the larger “Deep Blue” target area. This deposit is certainly full of pleasant surprises. Given the limited drilling to date, we still have a lot of work ahead of us to better understand this deposit.”
Hole D1-23-37 was collared on the same drill-pad as drill hole D1-22-09 and intercepted a wide zone of alteration and low-grade gold mineralization in the Alpha and Beta Zones with significant grades in the Gamma Zone.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone.
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:
- If visible gold is observed in the sample or within the assumed mineralized zone, the assay is performed by Metallic Screening whereby the entire sample is crushed, a 1 kg portion is pulverized and screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the SGS Laboratory in Lakefield, Ontario.
- If no visible gold is observed or outside of the mineralized zones, an initial assay is performed by 50 g Fire Assay with ICP-OES finish at the SGS Laboratory in Burnaby, British Columbia. If the assay result exceeds 2.0 g/t gold, remaining rejects are pulverized, a 1 kg portion is screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the SGS Laboratory in Lakefield, Ontario.
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.
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is the Qualified Persons as defined by NI-43-101. He 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 950 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 0.76 Mt were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.
Figure 1: Vertical longitudinal section looking north 010° of the eastern portion of the Delta-1 Gold Zone showing piercing points of drill holes with grades and metal factors. New results from this release are highlighted in yellow.
Figure 2: Total magnetic map showing the up-dip projection of the gold-mineralized zones at Delta-1. Note the association of the mineralized zones with a magnetic low which corresponds to magnetite destructive alteration.
Figure 3: Vertical cross-section of the Delta-1 Gold Zone looking east, showing drill holes D1-23-35 and 36
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. 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.