January 21, 2021 / Kingston, ON / Accesswire. Delta Resources Limited (“Delta” or “the Company”) (TSX-V:DLTA) (OTCBB:DTARF) (FRANKFURT:6G01) is pleased to release its drilling strategy for the Winter 2021 drill campaign at its Delta-2 property southeast of Chibougamau, Quebec.
As previously announced on January 11, 2021, Delta has now resumed its drilling program at Delta-2. The objective of the drilling program is to test a minimum of 18 targets deemed to have excellent potential for volcanogenic massive sulphide (VMS) mineralization similar to the Lemoine past producer which is located 1.5 kilometre north of the property boundary. The Lemoine mine is an isolated VMS deposit that produced 757,585 tonnes @ 9.52% Zn, 4.18% Cu, 4.56 g/t Au and 82.26 g/t Ag between 1975 and 1983 and remains Canada’s second highest grade mine (Source: www.sigeom.mines.gouv.qc.ca).
Delta is planning approximately 3,000 metres of drilling in this second phase of drilling, testing up to 18 isolated VTEM conductors that have never been drill tested. For logistics purposes, the targets that will be tested during this phase of drilling are all located in the SE portion of the property (see attached map).
The targets included in this first phase of VMS drilling were selected based on the following criteria:
- Conductors are short, isolated and conformable to reflect the typical strike length of VMS deposits.
- Conductors are located near or immediately onto what is interpreted as the stratigraphic horizon that hosts the Lemoine Mine.
- Conductors are located in areas of structural complexity known to host massive sulphide deposits.
- Chert, iron formations and felsic volcaniclastic rocks were observed in the field near the conductors, indicating a hiatus in the volcanic sequence; the site where VMS deposits are typically deposited.
- Geological observations in the field, near the conductors have shown favourable indicators for VMS mineralization including: the presence of sulphide mineralization and garnet-sillimanite-andalusite-sericite-amphibole alteration typically associated with VMS deposits in high-grade metamorphic terranes.
The combination of these criteria suggests an excellent potential for VMS mineralization and each target shown on the attached map is deemed very high priority for drill testing.
The Delta-2 property covers over 177 square kilometres, located 35 kilometres southeast of the town of Chibougamau, Quebec. Delta is exploring for two distinct types of targets at the property: hydrothermal gold targets and gold-rich polymetallic VMS targets.
Michel Chapdelaine, P.Geo. and Vice-President of Exploration of Delta Resources Limited is a Qualified Persons as defined by NI-43-101 and is responsible for the technical information presented in this press release. Mr. Chapdelaine has reviewed the drill core described herein.
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, 45 km2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
- DELTA-2, 170 km2 in the “red-hot” Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 35M shares outstanding has a fully funded exploration for 2021 and in addition, is set to receive $1.3M in scaled payments, before September 2021, through the sale of its Bellechasse-Timmins gold project in SE Quebec.
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. Forward looking information includes, but is not limited to, statements regarding: the samples may be proximal to a rich bedrock source for the gold; the possibility of the same source for gold mineralization; and the initiation of a property-scale till survey in September. 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.