Delta Confirms Eastward Extension of New Gold Zone with More High-Grade Gold Intercepts at Delta-1, Thunder Bay, Ontario
Kingston, February 9, 2023 - Delta Resources Ltd. (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) ("Delta" or "the Company") is pleased announce final assay results from drill holes D1-22-24 and D1-22-25 at the Delta-1 Gold project located 50 km west of Thunder-Bay, Ontario.
Gold mineralization was intersected in both drill holes, therefore extending the Eureka Gold Zone to nearly one kilometre of strike length. The drill holes returned high-grade intercepts of 130.0 g/t Au over 1.0 metre, 30.66 g/t Au over 1.0 metre (within a broader interval of 5.32 g/t Au over 8.0 metres) and 16.42 g/t Au over 1.5 metres, alongside or within broader mineralized intervals. Intervals are reported in Table 1 below.
Holes D1-22-24 and D1-22-25 were drilled in October 2022 to test the eastern extension of the gold intercept from drill hole D1-22-18 consisting of 14.8 g/t Au over 11.9 metres within a broader zone grading 5.92 g/t Au over 31.0 metres previously reported October 19, 2022. At the time, drill hole D1-22-18 was the easternmost drill hole in the Eureka Gold Zone and suggested a gold enrichment towards the east. Drill holes D1-22-24 and D1-22-25 were collared respectively 50 metres and 100 metres east of drill hole D1-22-18 (see figures 1 and 2).
André Tessier, President and CEO commented: "These new results are extremely exciting for Delta and represent a turning point at the Delta-1 property. The results from drill holes 18, 24 and 25 are showing continuous high-grade gold mineralization over a strike of at least 100 metres in addition to broader gold intercepts. Delta is now drilling the projected eastern extension of this new, never drill tested, high-grade zone with an initial 3,000 metre follow-up program. With its recently signed exclusive exploration agreements, Delta now controls over four kilometres of strike length where the gold zone can be projected, leaving a huge area for expansion."
TABLE 1: Significant results from drill holes D1-22-18, D1-22-24 and D1-22-25
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/154243_deltaimagetable1.jpg
DELTA-1 PROPERTY EXPLORATION UPDATE
Delta's 2023 winter drill program previously announced on January 17, 2023 is currently under way at the Delta-1 Project. Delta has now completed six drill holes for a total of 1651 metres, testing the 3D modelled eastern extension of the Eureka Gold Zone. Preliminary observations on these initial 2023 drill holes will be released shortly. To date, 4 drill holes have been cut, sampled and sent for assay. All assay results are pending.
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 no visible gold is observed in the sample, 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.
- If visible gold is observed in the sample, the assay is performed by Metallic Screening whereby the entire sample is 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.
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 covers 58.3 square kilometres located 50 kilometres west of Thunder Bay, Ontario where a gold mineralized zone 950 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.
Figure 1: Geology map showing locations of all drill holes at the Eureka Gold Zone.(Note: The geology is projected to the surface from the drill holes). Assay results are shown from easternmost drill intercepts including drill holes D1-22-24 and D1-22-25 reported in this release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/154243_deltaimage22.jpg
Figure 2: Vertical longitudinal section looking 010 degrees azimuth showing drill hole pierce points, grades and metal factors on the whole Eureka Gold Zone including those of drill holes D1-22-24 and D1-22-25 reported in this release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/154243_deltaimage33.jpg
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154243