December 17, 2024 / Kingston, Ontario / Newsfile Corp. Delta Resources Limited (“Delta” or “The Company”) (TSX-V: DLTA) (OTCBB:DTARF) (Frankfurt: 6G01) is pleased to announce that it has received and tabulated assay results from channel sampling of the I-Zone at the Delta-1 Expansion Property in Thunder Bay, Ontario.
Two parallel channel samples were taken in a 5-metre wide dike known as the “I-Zone”, adjacent to channel samples taken by Inco Gold in 1988-89 for which results were left unreported. The channel samples tested the complete length of the exposed dike. Channels were cut perpendicularly to quartz-carbonate-pyrite veins and veinlets but parallel to the dike contacts (Figure 1). Results from the two channel samples are as follows:
- CHANNEL #1: 1.23 g/t Au over 40.6 m incl. 2.12 g/t Au over 12 m and 3.39 g/t Au over 5 m
- CHANNEL #2: 2.40 g/t Au over 16.2 m incl. 5.54 g/t Au over 5 m
Figure 1: Geological map of the I-Zone and location of the channel samples.
Gold mineralization consists of 1-20 cm wide quartz-carbonate-pyrite extension veins and veinlets with visible gold, hosted by a granodiorite dike that is approximately 5 metres wide (Photo 1). Gold mineralization also occurs as millimetre-scale pyrite stringers and fracture-filling. The quartz veins trend NS and dip steeply towards the west while the dike is generally trending EW and dipping steeply towards the south. Veins and veinlets typically end abruptly at the contacts of the granodiorire dikes. At the I-Zone, the granodiorite dike is hosted by iron formations.
Red potassic, hematitic and pyritic alteration is intense and texture destructive, intensifying along the contacts of the veins and fractures (Photo 2). Host rocks may contain up to 5% disseminated and stringer pyrite.
“Delta’s expanded land package now covers several fault-bounded sedimentary basins bearing a similar geological setting as the Eureka Gold deposit. The I-Zone sector, covers an area over 4 square kilometres in such a geological setting. The gold mineralization at the I-Zone is somewhat different from that of the Eureka Deposit, but occurs in a similar geological setting, adjacent to the faulted boundary of a sedimentary basin in the southern portion of the expanded property. The Delta team is systematically uncovering new areas with great potential for new mineralization on the newly acquired ground and getting ready to thoroughly test these new targets in 2025 ” said André Tessier, President and CEO.
The I-Zone is located approximately 19 kilometres southwest of the Eureka Gold Deposit well within the Delta-1 Expanded property. The I-Zone is one of many similar significant gold occurrences in an area spanning 3.5 kilometres in strike and 1.2 kilometres in width. The mineralized dikes are hosted within a fault-bounded basin of clastic sediments (Temiskaming-type) lying unconformably over older volcano-sedimentary rocks of the Shebandowan Belt. The zone is located adjacent to the unconformity; a geological setting similar to that of the Eureka Gold Deposit.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at AGAT Laboratories. AGAT Laboratories is accredited to ISO 17025 by the Standards Council of Canada (SCC). Sample preparation was performed in Thunder Bay, Ontario. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks, and analytical standards.
The following assaying protocol was adopted at Delta-1 to reduce the assay variability due to nugget effect caused by visible gold:
- If visible gold is observed in the sample or within the assumed mineralized zone, the assay is performed by Metallic Screening whereby the entire sample is crushed, a 1 kg portion is pulverized and screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the AGAT Laboratory in Thunder Bay, Ontario.
- If no visible gold is observed or outside of the mineralized zones, an initial assay is performed by 50 g Fire Assay with ICP-OES finish at the AGAT Laboratory in Thunder Bay, Ontario. If the assay result exceeds 2.0 g/t gold, remaining rejects are pulverized, a 1 kg portion is screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the AGAT Laboratory in Thunder Bay, Ontario.
NQ-size drill core was sawed in half lengthwise and half of the core was sampled and sealed in clean plastic bags before being shipped for assay. The remaining half of the core was replaced in core boxes and is stored at Delta’s core storage facilities. 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.
Qualified Persons
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is the Qualified Persons as defined by NI-43-101. He has supervised the exploration program in the field and reviewed the technical information presented in this press release.
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 on a large gold inventory 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over a strike length of 2.0 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 Delta-1 expanded property now covers 308 square kilometres where Delta has identified multiple corridors of intense alteration and deformation, on strike with, and to the south of the Eureka gold zone and that has yet to be thoroughly explored.
Photo 1: Photo looking south showing a portion of the mineralized dike at the I-Zone. Note the extension veins with a NS trend and the EW-trending contacts of the dike. Note also the red colouration of the dike due to potassic and hematitic alteration.
Photo 2: Photo looking north at the I-Zone showing the intensifying red potassic and hematitic alteration along veins, veinlets, pyrite stringers and fractures.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
DELTA RESOURCES COMPANY PROFILE
Delta Resources is a Canadian mineral exploration company focused on its Delta-1 project in Ontario, Canada, where the Company discovered a large gold deposit 50 km west of Thunder Bay, at surface and adjacent to the Trans-Canada highway. To date, the gold deposit is 2.5 km long, from surface to 300 m depth. 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 306 square kilometres where Delta has identified multiple corridors of intense alteration and deformation, on strike with, and to the south of the Eureka gold zone and that has yet to be thoroughly explored.
Andre Tessier
President and CEO
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 C. Tessier, President and CEO
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.