Delta Announces the Exercise of Warrants and Drill Program
(TheNewswire)
TheNewswire - November 7, 2019 - Delta Resources Limited (“Delta” or the “Company”) (TSXV:DLTA) (OTC:GOLHF) (FRANFURT:6G01) is pleased to announce its shareholders have exercised 2,630,000 warrants at a price of $0.12 per share, with an expiry date of June 10, 2022 adding net proceeds of $315,600 to the Company’s coffers.
The use of proceeds will be employed to accelerate the Company’s exploration program on its 2 recently acquired and highly prospective properties in Ontario and Quebec.
Andre Tessier, President and CEO of Delta commented, "We are very grateful with the exercise of warrants by our shareholders. With an expiry date of more than 31 months away, we are extremely pleased in receiving this amazing vote of confidence from our long-term shareholders.”
Delta currently has 3,570,000 warrants outstanding with an exercise price of $0.12 per share and with an expiry date of June 10, 2022.
Drilling at Delta 1- Thunder Bay, Ontario
Delta is also pleased to announce that it has began its drill campaign at its recently acquired Delta 1 Property located 50km NW of Thunder Bay, Ontario straddling the Trans Canada Highway. The first hole has already been completed. The Company expects to drill 10 holes or approximately 1000 metres.
Delta Resources Limited is a new Canadian mineral exploration company born at the end of June 2019. The Company is focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.
Delta owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec, Canada which contains a 43-101 gold resource of 171,000 ounces at an average grade of 1.83 g/t gold in the indicated category and an additional 95,000 ounces at an average grade of 1.36 g/t gold in the inferred category (SGS Canada Inc., Bellechasse-Timmins Property Resource Estimate, Southeastern Quebec, August 1, 2012).
The Company’s focus is currently to build a strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada while evaluating the long-term potential of its 100% owned Bellechasse-Timmins gold deposit in southeastern Quebec.
On October 3rd, 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area where exploration will start shortly.
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
Tel : 514-969-5530
fcandido@deltaresources.ca
or
Andre Tessier, President and CEO
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. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. 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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