Provides Update on the Delta-2 Gold Project in Chibougamau, Quebec
KINGSTON, ON / ACCESSWIRE / April 14, 2021 / Delta Resources Limited ('Delta' or 'the Company') (TSXV:DLTA)(OTCPINK:DTARF)(FRA:6G01) is pleased to announce that it started a drilling program at the Delta-1 Gold Property, 50 kilometres west of Thunder Bay, Ontario. The objective of the drilling is to test a one-kilometer long gold target believed to coincide with the Shebandowan Shear Zone; a deep seated structure that marks the northern boundary of the Shebandowan greenstone belt. The target is located at the north apex of a gold dispersion trail where till samples returned up to 457 gold grains in a 10kg sample (see press release dated March 11, 2021 and August 12, 2020). Depending on access, up to 14 drill holes are planned for a total of 2,000 meters.
Two till surveys, carried out during the summer and fall of 2020, defined a gold grain dispersion trail of one kilometre in the east-west direction and at least one kilometre in the north-south direction, that remains open towards the south. The gold dispersion trail appears to end abruptly at the Shebandowan Shear Zone; believed to be the bedrock source of the gold grains. Within the dispersion trail, 12 of 13 till samples returned between 41 and 457 gold grains (on a normalized 10kg fraction-size sample). With pristine grains accounting for 78% to 99% of the total gold grains. The pristine character of the gold grains indicates that there has been very little transport and hence these samples are interpreted to be proximal to a bedrock source for the gold.
André Tessier, President and CEO commented as follows: 'We're extremely happy to have secured a drill and crew from Chibougamau Diamond Drilling for this work, and we're just as excited to be testing this truly fantastic target at Delta-1.'
The Delta-1 property is located in the Shebandowan Greenstone Belt and covers a 17km strike extent of the Shebandowan Structural Zone which also hosts the low-grade - high-tonnage Moss Lake gold deposit (WDO), 50 km to the west.
UPDATE: Delta-2 Gold Property, Chibougamau, Quebec Drilling:
Delta has completed seven drill holes for a total of 1,056 metres. All drill holes were aimed at Delta's new gold discovery as announced March 4, 2021. The mineralized zone was intersected in six of the seven drill holes and varies in width from 25cm to 3.8m; suggesting the vein is boudinaged (pinches and swells).
All assay results are pending. Samples of the mineralized zones were sent to the laboratory for rushed metallic sieve analyses. Results from these rushed samples are expected shortly and will be released as soon as available. Assay results for the remainder of the drill holes are expected within regular delays of four to six weeks.
Till Sampling and Analytical Protocol
Till Sample Sites were selected based on availability of material and ease of access. Sample acquisition was facilitated by Excavator acquiring the most effective till horizon at or near bedrock interface (down-ice basal lodgement horizon of the oldest till deposit). Sample size varied between 11.6 and 22.5 kg. Samples were collected in new plastic pails, sealed, and shipped for analysis.
Till samples were analyzed by IOS Services Geoscientifiques of Chicoutimi, Quebec using the fully automated scanning electron microscope counting protocol Advanced Recovery Technology for Gold (ARTGold), an exclusive technology for the recovery of gold grains in till. ARTPhot procedure includes sieving (<1mm), concentration with fluidized bed, manual sorting for gold grain >50 microns, automated optical sorting for 20-50 micron and SEM validation of the grains.
All gold grains were extracted from the till samples, confirmed with a chemical analysis of each grain, their sizes were measured, and each grain was classified by image analysis as 'pristine', 'modified' or 'reshaped' to estimate the distance the gold grains were transported from their original bedrock source with pristine grains being the closest from the bedrock source.
QA/QC of the gold grain analysis is performed on 10% of the samples by reanalyzing fluidized rejects of the samples.
Andre C. Tessier, P.Eng and P.Geo. President and CEO 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.
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 GOLD and DELTA-2 VMS, 170 km2 in the prolific 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 M in scaled payments, starting August 1st 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.
SOURCE: Delta Resources Limited
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