Delta Completes Follow-up Drilling Program Where It Recently Intersected 11.9 Metres of 14.8 g/t Gold (31.0 Metres of 5.92 g/t Gold) at the Eureka Gold Deposit, in Thunder Bay, Ontario and Further Expands Land Position
Delta Completes Follow-up Drilling Program Where It Recently Intersected 11.9
Metres of 14.8 g/t Gold (31.0 Metres of 5.92 g/t Gold) at the Eureka Gold Deposit, in
Thunder Bay, Ontario and Further Expands Land Position
October 31, 2022 / Kingston, ON / Accesswire . Delta Resources Limited (“Delta” or “the Company”) ( TSX-
V:DLTA ) (OTCBB:DTARF ) ( FRANKFURT:6G01 ) is pleased to announce that it has completed a fol low-up drilling
program at the Eureka Gold Deposit, 50 kilometres w est of Thunder Bay, Ontario. A total of 974 additi onal metres
were completed in two new drill holes and by extend ing one previous drill hole. The objective of this drill program
was to follow-up on the results obtained in drill hole D1-22-18 announced on October 19, 2022 of:
5.92 g/t gold over 31.0 metres
o Including 14.80 g/t Au over 11.9 metres
Including 72.95 g/t Au over 2.2 metres
More information about this past release is provided in video format at
https://www.youtube.com/watch?v=89D5OXwOeSs in English and at
https://www.youtube.com/watch?v=_2mnO4Roou0 in French.
During the course of this program, drill hole D1-22 -18 was extended by 93 metres to fully intersect th e last two
assays of the drill hole, averaging 1.34 g/t Au ove r 2.0 metres. The two additional drill holes (D1-22 -24 and D1-22-
25) were aimed at testing the eastern extension of the mineralization intersected in drill hole D1-22- 18 with step-
outs of 50 metres and 100 metres (see attached map).
Figure 1: Plan view map showing locations of the new drill holes (D1-22-24 and D1-22-25). (Note: The geology has been projected up-dip
to the surface.).
The drill core is presently at Delta’s core logging facilities in Chibougamau, Quebec for detailed des cription and
sampling. All assays are pending.
The mineralized zone trends roughly 100° azimuth, dips 50° towards the north, and has now been intersected over
a strike length of approximately 850 metres and a vertical depth exceeding 200 metres.
The gold mineralization is hosted within a sandston e, near its contact with ultramafic volcanic flows to the south.
Kilometre-scale, texture destructive alteration consists of intense ankeritization, sericitization and silicification. There
appears to be a spatial association between gold mi neralization and amphibole-feldspar-phyric intermediate dikes
that are also affected by alteration. Gold mineral ization consists of a network of multiple generatio ns of quartz-
ankerite-pyrite veinlets locally with disseminated grains of visible gold.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 kilometres strike extent of the
Shebandowan Structural Zone which also hosts the lo w-grade – high-tonnage Moss Lake gold deposit (Goldshore
Resources GSHR:TSX.V) , 50 kilometres to the west.
Delta Further Expands Land Position
Delta is also pleased to announce that it has acquired the exclusive rights to buy the surface and mining rights to a
property adjacent to its Delta-1 property in Thunder Bay, Ontario . The 32-hectare property is contiguous with the
Delta-1 property, immediately east of the Eureka Go ld Prospect where Delta has just completed the dril l program
referenced previously.
Delta entered into a five-year lease agreement with the surface and mining rights landowners. During the five-year
lease period, Delta will have the exclusive right to explore the property and to purchase a 100% interest in both the
surface and mining rights to the property. Should Delta elect to purchase the property, it will pay market value times
ten (10). Delta made a one-time cash payment of $40,000 to the landowners and will also issue 100,000 shares of
the Company per year for 5 years, starting upon the signing of the Agreement.
With this agreement, Delta now controls an area of 58 square kilometres, straddling the Shebandowan St ructural
Zone in the Shebandowan Greenstone Belt.
Qualified Person
Daniel Boudreau, P.Geo. Manager of Exploration of D elta Resources Limited is a Qualified Person as def ined by
NI-43-101 was supervisor for the drilling program and has reviewed the technical information presented in this press
release.
Delta Resources would like to acknowledge the finan cial 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, 58 km 2 located 50 km west of Thunder Bay, Ontario where t he Eureka gold zone has now been
outlined over a strike length of 850 m. An extremely high gold-in-till anomaly and kilometre-scale gold-bearing
alteration halo point to a never-tested regional structure.
DELTA-2 GOLD and DELTA-2 VMS, 194 km 2 in the prolific Chibougamau District of Quebec, wi th a potential
for hydrothermal-gold and gold-rich VMS deposits.
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
Frank Candido, Chairman, VP Corporate Communications
Tel : 5149695530
or
Andre Tessier, CEO and President
Tel: 6133281581
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 terminolo gy such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such
words and phrases (including negative or grammatica l variations) or statements that certain actions, e vents 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 assuran ce 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 under take to update any
estimate at any particular time or in response to any particular event.