Delta Resources Limited Starts Drilling and Geophysics at Delta-1: Eureka Discovery, Thunder Bay Mining District, Ontario
31 October 2019 - 11:30PM
Delta Resources Limited (“Delta”)
(DLTA:TSX-V) is pleased to announce that it will
be starting its first drilling program during the first week of
November 2019, at the Delta-1 Property in the Thunder Bay Mining
District, Ontario.
Delta will be drill-testing the Eureka Gold
Occurrence, a new and never drilled, discovery made during the
summer of 2018 and acquired by Delta on October 3rd, 2019. The
EUREKA gold zone is exposed by trenching over a minimum strike
length of 400m and chip sampling has 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. It’s also believed that
a 16m wide shear zone located at the heart of the mineralized zone
could not be reached by mechanical trenching due to its depth below
overburden.
The 1,000 metre drill program will be testing
the gold-bearing ankerite-pyrite-arsenopyrite zone, exposed by
trenching over a strike length of 400m so far. The mineralized
alteration zone as a whole, spans for a minimum strike length of 2
kilometres and a width of up to 400 metres.
THE EUREKA ZONE AND ITS POSSIBLE STRIKE
EXTENSIONS HAVE NEVER BEEN DRILLED OVER A MINIMUM STRIKE LENGTH OF
1.5 KILOMETRES.
In addition to this drilling program, Delta has
also started a high-resolution drone magnetic survey covering the
eastern part of the Delta-1 property (which includes the Eureka
Discovery). The 168 line-kilometre survey will help to outline
structures parallel to and cross-cutting the mineralized zone where
bedrock is not exposed. This will help in future target
definition.
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 which also hosts the Moss Lake gold deposit*, a
large tonnage-low grade deposit located 50 km WSW of the property
where gold resources stand at of 40 MT at 1.1 g/t Au indicated
(1.4M oz) and an additional 50 MT at 1.1 g/t Au inferred (1.7M oz).
(NI-43-101 compliant ;
https://www.wesdome.com/operations/moss-lake-property).
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.
*Mineralization hosted on adjacent or nearby
properties is not necessarily indicative of mineralization that may
be hosted on the Company’s property
About Delta Resources Limited
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. TessierPresident, CEO and
Directorwww.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
Frank Candido, ChairmanTel :
514-969-5530fcandido@deltaresources.caorAndre Tessier, CEO and
PresidentTel: 613-328-1581atessier@deltaresources.ca
Cautionary Note Regarding Forward
Looking InformationSome 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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