Delta Resources Ltd. Intersects High Grade Gold up to 50.75 g/t in New Gold Discovery at Delta-2 - Chibougamau
KINGSTON, March 4, 2021 - Delta Resources Ltd. ("Delta" or "the Company") (TSXV:DLTA)(OTC PINK:DTARF)(FRANKFURT:6G01) is pleased to announce a new gold discovery at its Delta-2 Property in Chibougamau, Quebec. The new gold discovery was made in the last two drill holes of a drill program that was testing gold targets at the Delta-2 property. Delta is still drilling its gold-rich VMS targets also at the Delta-2 property in Chibougamau. The new discovery was made while testing the extensions of the Due Diligence gold occurrence discovered through prospecting by Delta in 2019. At Due Diligence, grab samples returned up to 55.8 g/t gold in grab samples (see press release October 29, 2019) while channel samples returned 22.97 g/t gold and 10.25 g/t gold over 25 centimetres (see press release October 26, 2020).
Two drill holes were completed 125m SW of the surface occurrence. Two mineralized zones were encountered, and visible gold was identified in both zones and in both drill holes. Because of the significance of this new discovery, Delta instructed the labs at SGS Canada to expedite the assay process. Drilling now suggests multiple mineralized zones.
Significant results include (core angles suggest true thicknesses to be close to drill-core lengths):
Drill Hole D2-21-28:
- 24.6m to 27.1m: 18.88 g/t gold over 2.5m
Including 50.75 g/t gold over 0.9m
- 120.8 to 121.6m: 14.08 g/t gold over 0.8m
Drill Hole D2-21-29:
- 25.0m to 27.0m: 3.76 g/t gold over 2.0m
- 116.4m to 117.5m: 1.81 g/t gold over 1.2m
Including: 3.13 g/t Gold over 0.5m
André Tessier, President and CEO commented as follows:
" This new high-grade gold discovery is significant for Delta, especially considering it's located in a completely new area within the core of the Delta-2 property and thereby allowing for future expansion. The new discovery opens a never tested NE-trending corridor favourable to gold mineralization that spans over five kilometres on the Delta-2 property. Delta is planning to focus on this new sector of the property in the coming months, as new drill permits have been received, while in parallel, continue to systematically drill the numerous gold-rich VMS targets Delta has identified."
Drill holes 28 and 29 were drilled at 270 degrees azimuth and inclined respectively at -45 degrees and -60 degrees. Both holes have intersected numerous types of quartz veins, but gold mineralization seems to be associated with strongly deformed quartz veins with tourmaline at their margins, and larger quartz veins with disseminated to centimetric masses of sulphides (pyrite, chalcopyrite and sphalerite). Both vein-types also contain visible gold. Additional drilling will be necessary to better define the geometry of the mineralized system.
Many geophysical and structural targets remain to be tested in the immediate extensions of the new mineralized zone and further along the northeast trending corridor. Delta will be testing these targets systematically in the coming months and has now obtained additional drilling permits to do so.
The new discovery occurs in a NE-trending corridor of structural complexity where volcanic stratigraphy has been disrupted and deformed. Magmatic-hydrothermal gold mineralization, intense potassic alteration and at least four generations of felsic to intermediate dykes shown to be associated with the La Dauversiere pluton to the south are also associated within this corridor. The corridor is believed to have been reactivated during subsequent deformation events. Field work, diamond drilling and geophysical interpretation shows this corridor to extend from the Snowfall gold occurrence to well beyond the new gold discovery to the NE, covering an area over five kilometers long by 1.5 km wide.
For more information regarding this press release and its content, please watch the following videoclips at: https://youtu.be/fo5IL6apu9U and https://youtu.be/9cjE4jwO_k8.
Sampling, Analytical Protocol
Geochemical analyses were performed by SGS Canada Minerals Laboratories in Lakefield, Ontario and Burnaby British Columbia.
Core logging and sampling were completed by Laurentia Exploration and Delta Geologists in Chibougamau, Quebec. Drill core is cut in half and one half of the core is sealed in clean plastic bags on site. 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.
Gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples are crushed to 90% less than 2 mm prior to pulverization. The samples are homogenized and half of the crushed sample is pulverized (the other half kept for re-analysis purposes if necessary). Once pulverized, 100% of the coarse fraction is weighed and analyzed and the fine fraction is weighed and analyzed with three separate analyses on 50 grams of material each.
Qualified Person
Michel Chapdelaine, P.Geo. and Vice-President of Exploration at Delta Resources Ltd. 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 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, 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, 170 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
Delta has 36M shares outstanding has a fully funded exploration for 2021 and in addition, is set to receive an additional $1M in scaled payments, from August to December 2021, through the sale of its Bellechasse-Timmins gold project in SE Quebec.
First derivative magnetic map of the Delta-2 property in Chibougamau, Quebec, showing the site of Delta's new, high-grade gold discovery. Note the new discovery is situated in a never-tested NE-trending corridor of structural complexity believed to represent an early structure that may have localized gold mineralization of magmatic-hydrothermal affinity.
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:
Contact Delta Resources Ltd.
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.
SOURCE: Delta Resources Ltd.
