Delta Reports Visible Gold in Two Step-Out Drill Holes at its Delta-1 Project in Thunder Bay, Ontario
Following up intersection of 11.9 metres of 14.8 g/t gold within a broader interval of 31.0 metres of 5.92 g/t gold in drill hole D1-22-18 at the Eureka Gold Zone.
Kingston, November 15, 2022 - Delta Resources Ltd. (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) ("Delta" or "the Company") is pleased to announce preliminary visual observations on two drill holes completed in October 2022 at the Delta-1 Project, 50 kilometres west of Thunder Bay, Ontario.
During this program, two drill holes (D1-22-24 and D1-22-25) were completed to test for the eastern extension of the mineralization intersected in drill hole D1-22-18 with step-outs of 50 metres and 100 metres respectively (see map at Figure 1). Drill hole D1-22-18 was also extended by 93 metres as results indicated it had ended in a mineralized interval.
The mineralized zone was intersected in drill holes D1-22-24 and D1-22-25, with visible gold observed in both holes. In drill hole D1-22-24, the mineralized zone is observed from 308 metres to 366 metres with visible gold observed at 312.6 metres (see Photo 1) and 365.5 metres. In drill hole D1-22-25, the mineralized zone was observed from 288 metres to 340 metres with visible gold observed at a depth of 302 metres. Both holes were drilled towards the south and inclined at -45 degrees, and therefore, the intersections are believed to represent close to true widths. Favorable host rock and alteration were also observed in the extension of D1-22-18.
These observations suggest the mineralized zone is now defined over a strike length of nearly 950 metres and a vertical depth of approximately 220 metres. The zone remains open in all directions and at depth.
André Tessier, President and CEO commented: "The preliminary observations of these most recent drill holes at Delta-1 are extremely encouraging. The mineralized zone extends to depth and clearly continues to the east with no sign of pinching out. The visual identification of native gold alone is a great sign, and the team is eagerly awaiting the assay results from these holes."
Figure 1: Plan view map showing locations of the new drill holes (D1-22-24 and D1-22-25). (Note: The geology has been projected up-dip to the surface.)
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The gold mineralization consists of a network of multiple generations of quartz-carbonate-pyrite veinlets ranging in widths between 1 mm to 10 cm, within a zone of intense, texture destructive carbonate, sericite and silica alteration. Visible gold is locally observed within the veinlets. Host rocks are believed to be sandstones, intermediate volcanics and amphibole-feldspar-phyric intermediate dikes.
Photo 1: Photo of visible gold at the wall of a 1 cm wide quartz-carbonate-pyrite veinlet from drill hole D1-22-24 at 312.6m.
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The mineralized zone trends roughly 100° azimuth, dips 50° towards the north, and has now been intersected over a strike length of approximately 950 m and a vertical depth exceeding 200 m.
The core from the drill holes was described and sampled at Delta's core logging facilities in Chibougamau, Quebec. A total of 575 samples were collected and shipped on November 8th, 2022 to SGS Canada Minerals Laboratories in Sudbury, Ontario for sample preparation and analysis. All assays are pending.
The objective of this drill program was to follow up Delta's intersection of drill hole D1-22-18 announced on October 19, 2022 of:
- 5.92 g/t gold over 31.0 metres
- Including 14.80 g/t Au over 11.9 metres
- Including 72.95 g/t Au over 2.2 metres
- Including 14.80 g/t Au over 11.9 metres
More information about this past release is provided at https://www.youtube.com/watch?v=89D5OXwOeSs in English and at https://www.youtube.com/watch?v=_2mnO4Roou0 in French.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone which also hosts the low-grade - high-tonnage Moss Lake gold deposit (Goldshore Resources), 50 km to the west.
Core Sampling Protocol and QA/QC
Core logging and sampling was completed by Delta at its core facilities in Chibougamau, Quebec. 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 in Chibougamau, Quebec. 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.
Qualified Person
Daniel Boudreau, P.Geo. Manager of Exploration of Delta Resources Ltd. is a Qualified Person as defined by NI-43-101 was supervisor for the drilling program and has reviewed the technical information presented in this press release.
Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program ("OJEP"). Delta will be receiving up to $200,000 upon completion of its exploration program at Delta-1.
About Delta Resources Limited
Delta Resources Ltd. 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, 58 km2 located 50 km west of Thunder Bay, Ontario where the Eureka gold zone has now been outlined over a strike length of 850 m. An extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
- DELTA-2 GOLD and DELTA-2 VMS, 194 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
ON BEHALF OF THE BOARD OF Delta Resources Ltd..
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:
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.
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