January 11, 2021 / Kingston, ON / Accesswire. Delta Resources Limited (“Delta” or “the Company”) (TSX-V:DLTA) (OTCBB:DTARF) (FRANKFURT:6G01) is pleased to announce that it will resume its drilling program starting January 11th, for volcanogenic massive sulphide (VMS) targets at the Delta-2 property, southeast of Chibougamau, Quebec. Delta wishes to assure its investors and the community of Chibougamau alike that all necessary precautions are being taken to prevent the further spread of the COVID-19 virus. Employees and contractors are isolated in “bubbles”, living together to minimize their exposure to the community and all Quebec Government guidelines are being followed. Delta was also in contact with the community of Oujebougamau and is thankful for their continued support.
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.
Delta is planning between 2000 and 3175 metres of drilling in this second phase of drilling, testing up to 18 isolated, never-tested conductors of short strike length, located in the south-eastern portion of the property. The conductors are all located in proximity to the newly interpreted stratigraphic horizon that hosts the past producing Lemoine Mine north of the property (1975 to 1983: 757 585 tonnes @ 9.52% Zn, 4.18% Cu, 4.56 g/t Au and 82.26 g/t Ag) (Source: www.sigeom.mines.gouv.qc.ca) and are believed to hold excellent potential for similar VMS mineralization.
“These are all top-priority, high potential targets and we can’t wait for drilling to start.” said Andre Tessier, President and CEO of Delta Resources.
In November and December 2020, Delta completed 20 drill holes at Delta-2, for a total of 3425 metres. The first 17 drill holes of the program were aimed at hydrothermal-gold targets in the area of the Snowfall Gold occurrence and between Snowfall and the R-14 Gold prospect while drill holes 18 to 20 were aimed at two VMS targets in the southeastern portion of the property. To date, preliminary results have been received for the first 13 drill holes and there are no significant results to report. Assay results from the last seven drill holes are pending.
Drill holes D2-20-18 to D2-20-20, aimed at two VMS targets, were drilled to test conductors sitting on the newly interpreted Volcanogenic Sulphide Horizon. Holes were drilled from footwall to hanging wall and intersected wide sections of intensely altered mafic volcanics, capped by sulphide-bearing felsic tuffs. Alteration in the mafic footwall rocks is characteristic of VMS deposit alteration at amphibolite-grade metamorphism and consists of garnet-sillimanite-amphibole and sericite (see photo). The rocks are also crosscut by sulphide stringers of pyrrhotite-pyrite and lesser chalcopyrite. The mineralized felsic tuffs consist of ash to lapilli-size volcaniclastic rocks with semi-massive and disseminations of pyrrhotite and pyrite, with minor chalcopyrite and sphalerite. The holes confirm Delta’s new stratigraphic interpretation in the area.
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.