Delta Continues to Intersect Visible Gold in Multip le Drill Holes at the Delta-1 Project in Thunder Bay, Ontario.
Delta Continues to Intersect Visible Gold in Multip le Drill Holes
at the Delta-1 Project in Thunder Bay, Ontario.
March 1, 2023 / Kingston, ON / Newsfile Corp . . Delta Resources Limited (“Delta” or “the Company”)
(TSX-V:DLTA ) (OTCBB:DTARF ) ( FRANKFURT: 6GO1 ) is pleased to announce preliminary visual
observations from its ongoing drill program at the Delta-1 Project, 50 kilometres west of Thunder Bay,
Ontario.
The drill program is designed to test the eastern e xtension of a newly discovered high-grade gold zone
previously intersected in drill holes D1-22-18, D1- 22-24 and D1-22-25 ( press release dated February 9,
2023 ). To date, eleven drill holes have been completed for a total of 2,975 metres. The mineralized zone
has been observed in every drill hole completed so far and visible gold has been observed in five of t he
eleven drill holes, further extending the mineralized zone for another 400 metres to the east of drill hole D1-
22-25 (see Figure 1). Visible gold has been observ ed prior to cutting the core in drill holes D1-23-3 0, 31,
33, 34, and 35.
André Tessier, President and CEO commented : “The preliminary observations of these most recent drill
holes at Delta-1 continue to be extremely encouragi ng. The mineralized zone keeps extending to the eas t
with indications of higher-grade potential to the e ast and at depth. The visual identification of nati ve gold
and strong alteration over persistent widths, is a great sign, and the team is eagerly awaiting the as say
results from these holes.”
The drill hole spacings are 100 metre step-outs starting from drill hole D1-22-25. Each step out consists of
two holes drilled from the same coordinates inclined at an angle of -40° and -65° to create vertical sections
for each 100-metre interval. All holes were drilled toward the south to intersect the north dipping
stratigraphy.
Every occurrence of visible gold was observed in qu artz/ankerite/pyrite veins and veinlets forming a
stockwork (a concentration of these veins and veinlets) within highly altered and brecciated intermediate to
mafic volcanics. Visible gold is typically millimetric, but larger grains are locally observed (Photos 1 and 2).
Alteration of the volcanics consists of strong sili cification, ankeritization as well as sericitizatio n and
albitization.
These new observations suggest that the newly disco vered high-grade gold zone extends 600 metres
towards east from drill hole D1-22-18 and that the broader mineralized zone is now defined over a stri ke
length of 1.35 kilometres with the vertical depth h aving been tested up to approximately 220 metres. T he
mineralized zone trends roughly 100°-110° azimuth, dips between 50° and 80° towards the north. The zone
remains open in all directions and at depth.
The core from the drill program is being described and sampled at Delta’s core logging facilities in Thunder
Bay, Ontario. The drill program is ongoing and is e xpected to be completed in March with all assays st ill
pending.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the
Shebandowan Structural Zone which also hosts the Mo ss Lake gold deposit ( Goldshore Resources ), 50
km to the west, with an inferred resource of 4.17Moz Au.
Photo 1: Photo of visible gold in quartz-carbonate-pyrite veinlet from drill hole D1-23-30 at 79.7 m. Hole is located 200 m
east of D1-22-18 (see Figure 1).
Photo 2: Photo of visible gold in quartz-carbonate-pyrite veinlet from drill hole D1-23-31 at 93.9 m. Hole is located 300 m east of
D1-22-18 (see Figure 1).
Figure 1: Plan view map showing locations of the new drill holes from the ongoing drill 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 u pon
completion of its exploration program at Delta-1.
PDAC 2023
Delta is also pleased to announce that it is participating in Prospectors & Developers Association of Canada
(“PDAC”) at the Metro Toronto Convention Centre (“MTCC”) from Sunday, March 5 to Wednesday, March
8, 2023. Delta invites its shareholders and interested parties to visit Booth #3032 at the Investors Exchange
where Management and Delta’s technical team will be on hand to discuss the Company's latest news and
planned developments for 2023. Delta will also have some drill core on hand for observation from drill hole
D1-22-18 referenced above.
CORRECTION TO THE GRANT OF STOCK OPTIONS
On February 16, 2023, Delta announced the grant of 2,825,000 stock options to management, the board
of directors and consultants. The options are exercisable at $0.10 for 5 years from the date of the grant and
vest immediately. The correct number of options that were granted to directors and officers and consultants
of the Company was an aggregate of 2,830,000 option s. All other terms and conditions of the options as
announced remain correct.
Qualified Person
Daniel Boudreau, P.Geo. Manager of Exploration of D elta Resources Limited is a Qualified Person as
defined by NI-43-101 is the supervisor for the drilling program and has 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 covers 58.3 square kilometres located 50 k ilometres west of Thunder Bay, Ontario
where a gold mineralized zone 950 metres long was o utlined through drilling in a multi-
kilometre-scale intense alteration halo. Best grades to date include a drill intercept of 14.8
g/t Au over 11.9 metres, within a broader interval of 5.92 g/t Au over 31 m. The zone is open
in all directions.
DELTA-2 VMS and DELTA-2 GOLD covers 194 square kilo metres in the prolific Chibougamau
District of Quebec. The property holds excellent po tential for gold-rich polymetallic VMS deposits
as well as hydrothermal-gold deposits. Delta target s 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 r esponsibility 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 : 514-969-5530
or
Andre Tessier, CEO and President
Tel: 613-328-1581
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 t hat certain
actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieve d” 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 an ticipated by management. The forward-looking inform ation
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 t hat 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.