Delta Announces the Start of a 20,000 Metre Drill Program and Mobilizes a Second Drill Rig at the Delta-1 Property, in Thunder Bay, Ontario
Kingston, June 6, 2023 - Delta Resources Ltd. (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) ("Delta" or "the Company") is pleased to announce the start of a 20,000 metre drill program at the Delta-1 Gold project, 50 kilometres west of Thunder-Bay, Ontario. Delta will be mobilizing a second drill rig to further accelerate the drill campaign.
This new drilling program is in addition to the 5,000 metre program previously announced on April 24, 2023 which is currently underway and nearing completion.
Both programs are designed to expand the current mineralized zone along strike and at depth, while testing property-scale targets with similar geological and geophysical signatures as the Eureka Gold Zone.
André Tessier, President and CEO commented: "This is a very exciting time at Delta and at the Delta-1 Property. Delta's recent closing of a $10M bought deal financing has provided us with the resources needed to further expand the gold zone while thoroughly exploring the property at large, where many exploration targets remain untested. We anticipate getting the initial results from our current drilling program shortly and look forward to the many anticipated results to come with this accelerated program."
About Delta Resources Limited
Delta Resources Ltd. is a well financed Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
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DELTA-1 covers 59.1 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 drill intercepts of 5.92 g/t Au over 31 m, including 14.8 g/t Au over 11.9 m, 2.06 g/t Au over 65.8 m including 4.23 g/t Au over 26.2 m, and Bonanza grades of up to 1.6 kg/t and 697 g/t Au over 1.0m. The zone extends to surface and is open in all directions.
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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 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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