Kingston, Ontario–(Newsfile Corp. – January 16, 2024) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) (“Delta” or “the Company”) is pleased to announce that it will resume drilling at the Delta-1 Project in Thunder Bay, starting with a 5,000 metre drilling program. The program will be two-pronged with a number of drill holes aimed at increasing the gold inventory at the Eureka Gold Zone, while other drill holes will test new exploration targets defined at the end of 2023.
This drilling program and Delta’s future exploration programs in 2024 are fully funded.
In 2023, Delta completed sixty (60) drill holes for a total of 19,620 metres at the Delta-1 project. This brings the total drilling at the property to eighty-six (86) drill holes or 26,288 metres, since Delta’s 2019 acquisition of the project. Other exploration work at the property in 2023 include a geological mapping, prospecting and sampling program that covered approximately ten (10) square kilometres as well as a 3D induced polarization geophysical survey and a high-resolution drone magnetic survey.
Qualified Person
Daniel Boudreau, P.Geo. and Manager of Exploration of Delta Resources Limited, is a Qualified Person as defined by NI-43-101, and will be supervising the drilling program. Mr. Boudreau has reviewed the technical information presented in this press release.
Ontario Junior Exploration Program
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 Limited 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 is Delta’s flagship project, where the company is building gold ounces 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over 1.8 km from surface to a vertical depth of 250 m. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (incl. 14.8 g/t Au over 11.9 m), and 1.79 g/t Au over 128.5 m. The property covers 107 square kilometres and Delta has identified a 5 km long corridor of intense alteration and deformation at the property, on strike with the gold zone, that has yet to be thoroughly explored.
The DELTA-2 property 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 LIMITED.
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:
Delta Resources Limited
Andre Tessier, CEO and President
Tel: 613-328-1581
atessier@deltaresources.ca
or
Frank Candido, Chairman,
Tel : 514-969-5530
fcandido@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.