Delta Resources Completes its First Drilling Program at Delta-1: Eureka Discovery, Thunder Bay Mining District, Ontario
(TheNewswire)
TheNewswire - November 19, 2019 - Delta Resources Limited (“Delta”) (TSXV:DLTA) (OTC:GOLHF) is pleased to announce that it has completed its first drilling program at the Delta-1 Property in the Thunder Bay Mining District of Ontario.
Delta completed a total of 1009 metres of drilling in 6 drill holes, testing the Eureka Gold Occurrence where chip samples in trenches exposed zones of intense silicification and ankerite alteration that returned assays of 13.8 g/t Au over 5m, 5.9 g/t Au over 5m, 2.4 g/t over 5m, 2.2 g/t Au over 10m, 1.6 g/t Au over 12m and 1.4 g/t Au over 7m.
Drilling was carried out on three sections oriented at 160 degrees azimuth and spaced 100 metres apart. The westernmost sections covers approximately 220 metres across strike in three drill holes while the easternmost section covers approximately 175 metres in 2 drill holes and the central section covers approximately 110 metres with one drill hole. Drilling was performed by Chibougamau Diamond Drilling.
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Drilling intersected at least three hydrothermal breccia zones with heterolithic fragments and a black, aphanitic quartz matrix with finely disseminated pyrite. The breccia zones range between 7.6 to 25.7 metres (down core) and are contained within broader zones of incipient breccia which in turn occur within a broad halo of silicified and ankeritized ultramafic rocks. The extent of the alteration zone has not yet been established towards the south. The true thickness of the mineralized zones can’t be established yet due to a lack of information and to date Delta has not received any geochemical data to confirm if the zones are gold-bearing.
The Delta-1 Property covers 48 square kilometres and is located 50 kilometres west of the City of Thunder Bay, Ontario and straddling the Trans-Canada Highway.
The property is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone where it is intersected by the gold-bearing Saganaga Shear Zones.
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.
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 and on October 16th, 2019, the acquisition of the Delta-2 Property which hosts the R-14 Gold Prospect in the Chibougamau Mining District of 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
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. 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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