Kingston, Ontario–(Newsfile Corp. – April 25, 2023) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to provide assay results from two additional drill holes D1-23-33 and D1-23-34 from its 2023-Phase 1 drill program at the Delta-1 gold project located 50 km west of Thunder-Bay, Ontario.
Assays from the new drill holes are as follows (see also Table 2 and Figures 1 to 3):
Table 1: Assay results from drill holes D1-23-33 and D1-23-34. 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 results continue to provide us with valuable information as we step out towards the intense magnetic low to the east. Although there are three more holes to the east which remain to be reported, with hole 38 on the edge of the magnetic low, we are already anxiously anticipating the next 5,000 metre drill program announced just yesterday. As stated previously, we believe that we are only beginning to reveal the extent of this very large gold system.”
Holes D1-23-33 and D1-23-34 were drilled on the same drill-pad and define a 2-hole fan on a North-South section located 100 metres east of an intercept of 1.29 g/t Au over 97.0m from drill hole D1-23-31 reported on April 20, 2023, 200 metres east from another intercept of 4.23 g/t Au over 26.2 metres from drill hole D1-23-30 reported on April 12, 2023 and 400 metres east from an intercept of 5.92 g/t Au over 31.0 metres in drill hole D1-22-18 reported on October 15, 2022 (see figures 1 and 2). Both drill holes D1-23-33 and D1-23-34 are collared in mineralization and intercepted wide zones of near-surface gold in intensely altered rocks.
Through 3D modeling and with Delta’s 2023-Phase 1 drill results to date, the geometry of the gold mineralized zone appears to consist of three (3) distinct zones of higher-grade mineralization within an envelope of lower-grade material. From north to south, the Zones were labelled: “Alpha, Beta and Gamma” (see Figures 1 to 3 and Tables 1 and 2). The Beta Zone is the most important so far, but each zone may pinch and swell, sometimes converging into very wide zones. Each of these gold zones have the potential to host high-grade mineralization and expand the known mineralized footprint. The Gamma Zone has never been tested near the surface, while some drill holes were collared into the Alpha Zone.
The mineralized zone trends approximately at a 100° azimuth, dips 80° towards the north, and has now been intersected over a strike length of approximately 1.5 kilometres and to a vertical depth of approximately 220 metres. Towards the east, the gold grades increase and the zone appears to turn to an azimuth of 115°. This change in the orientation of the mineralized zone may be responsible for the improved gold grades and widths of the mineralized zone and suggests we are entering a more favourable segment of the structural zone.
The gold mineralization is generally located at the contact between sandstones to the north and mafic volcanics to the south, spatially associated with feldspar porphyry intrusive dikes that crosscut both rock types. All three rock types are mineralized and altered. Kilometre-scale, texture-destructive alteration consists of intense ankeritization, albitization, silicification and sericitization. Gold mineralization consists of a network of multiple generations of quartz-ankerite-pyrite veinlets locally with disseminated grains of visible gold.
At the end of March 2023, Delta completed 13 drill holes for a total of 3,506 metres at the Delta-1 project. The drilling tested a 600-metre extension of the gold zone towards the east, extending the total strike length of the mineralized zone to 1.5 kilometres. Assays are pending from three (3) of these drill holes to the east and results will be report as they are received and interpreted. Delta is currently planning an additional 5,000 metre drill campaign and expects to announce a resumption of drilling shortly.
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 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 0.76 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
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.
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. Metal factors appear to increase towards the east and at depth, as defined by drill holes D1-22-18, 24, 25 and D1-23-30 to 34. Results highlighted in yellow are new.
Figure 2: Total magnetic map showing the up-dip projection of the gold-mineralized zones at Delta-1. Results highlighted in yellow are new. Note the association of the mineralized zones with a magnetic low which corresponds to magnetite destructive alteration. Assay results are pending for three more drill holes to the east.
Figure 3: Vertical cross-section of the Delta-1 Gold Zone looking east, showing drill holes D1-23-33 and 34.
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.