Delta Outlines a Zinc-Rich Sulphide Horizon at the DELTA-2 Property, Chibougamau, Quebec.
DELTA OUTLINES A ZINC-RICH SULPHIDE HORIZON AT THE DELTA-2 PROPERTY,
CHIBOUGAMAU, QUEBEC.
February 20, 2024 / Kingston, ON / Newsfile Corp. Delta Resources Limited (“Delta” or “the Company”)
(TSX-V:DLTA) (OTCBB:DTARF) (FRANKFURT:6G01) is pleased to announce the results from its fall 2023
drilling program at the Delta-2 VMS Property, located 35 kilometres southeast of Chibougamau, Quebec.
In late 2023, Delta completed seventeen (17) drill holes for a total of 3,752 metres. The exploration program
was fully funded through Quebec-Flow-Through funds raised in late-2022. The drilling program was designed
to test a number of helicopter -borne VTEM anomalies located on the Dollier -Cartier Option (May 13, 2021
News Release) which is contiguous to the Delta -2 property (figure 1). The objective of the program was to
search for a Lemoine-Type VMS deposit, located eight (8) kilometres to the north of the drill program (Lemoine
Past Producer 0.76 MT @ 4.2% Cu, 9.6% Zn, 4.5 g/t Au).
A massive to semi-massive sulphide horizon was intersected in drill holes D2V -23-96 and D2V-23-105, over
a strike length of 100 metres. The horizon strikes NE, dips steeply towards the SE and is located approximately
600 metres SE of the Guillaume -Cartier Gold-VMS prospect (see figure 1). The horizon is open to the SW
and at depth and for approximately 400 metres to the NE.
Figure 1: Geological map of the Dollier-Cartier Option showing the location of Delta’s 2023 drill holes and
its new zinc occurrence.
“Delta remains focused on its Delta-1 Gold project in Thunder Bay, Ontario, however, the results at the Delta-
2 VMS project in Chibougamau , Quebec are very promising. This is a new discovery that certainly deserves
further exploration. Grades, mineralogy and widths in VMS deposits are well known to change very quickly
down-dip or along strike, so this could be the proverbial “tail of the tiger”. Delta staff wil l evaluate this new
occurrence and determine a n appropriate course of action.” Stated André Tessier, President and CEO of
Delta Resources.
Mineralization in drill holes D2V -23-96 and D2V -23-105 consists of pyrite, pyrrhotite, sphalerite and trace
chalcopyrite. Host rocks are mafic volcanics, altered to chlorite -sericite. Every other drill hole of the program
intersected sulphide mineralization of dominantly pyrite and pyrrhotite with trace of sphalerite and chalcopyrite.
All drill results are shown in Table 1 below.
Table 1: Table of complete drill results.
At the Delta-1 Project, Thunder Bay, Ontario
As announced on January 16, 2024, Delta is currently in the midst of a 5,000-metre drill program at its Delta-
1 project. The program is progressing well and drill assays are pending.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at ALS Chemex Laboratories in Val d’Or,
Quebec. The gold assays were carried-out by atomic absorption method while other elements were assayed
by four-acid ICP-AES method. Sampling and analytical procedures are subject to a comprehensive Quality
Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
Core logging and sampling was completed by Delta personnel and Laurentia Exploration Geologists. 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 in Chibougamau, Quebec. 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 ALS Chemex Laboratories during the analytical process.
About the Dollier-Cartier Option:
Delta is currently in the 3rd year of the Dollier-Cartier Option Agreement, signed on May 12, 2021 with Cartier
Resources Inc (“Cartier”). Delta still has to issue 200,000 shares to Cartier and prove exploration expenditures
of $1,000,000 over the four (4) years of the agreement. Upon earning a 100% interest in the Dollier Property,
Cartier will be granted a 2% NSR production royalty. Delta will have the exclusive right to purchase the first
1% NSR for $2,000,000 and the second 1% NSR for $15,000,000.
Easting Northing
D2V-23-93 340 -50 138 447 564143 5504077
D2V-23-94 340 -60 177 451 563932 5503990
D2V-23-95 325 -50 201 453 564441 5503640
D2V-23-96 160 -45 252 449 564411 5503559 24.5 25.0 - - 0.11 2.23 0.5
25.7 26.5 - 0.5 0.21 0.21 0.8
D2V-23-97 330 -70 225 437 563624 5502885
D2V-23-98 330 -62 210 428 563526 5502659
D2V-23-99 320 -75 243 436 563892 5502881
D2V-23-100 340 -70 177 432 563372 5503579 114.25 115.3 0.95 0.3 - - 1.05
D2V-23-101 330 -60 201.7 434 561104 5501764 8.8 9.4 0.03 0.9 - 0.2 0.6
12 13.3 0.02 0.7 - 0.24 1.3
37.15 37.65 - 0.7 0.28 0.03 0.5
219.5 220 0.035 1.4 0.13 0.49 0.5
D2V-23-102 330 -45 276 439 561239 5501576 115.5 116.8 0.11 0.7 - 0.14 1.3
D2V-23-103 325 -45 219 444 564454 5503125
D2V-23-104 325 -45 267 440 564369 5503219 6.3 7.15 0.006 - - 0.16 0.85
D2V-23-105 330 -45 282 442 564313 5503310 205.5 206.95 0.013 2.36 0.12 1.15 1.45
D2V-23-106 330 -65 205.5 447 565565 5503751
D2V-23-107 330 -75 192 413 567669 5504442 66.1 66.6 0.013 0.6 0.03 0.21 0.5
D2V-23-108 330 -70 291 415 568067 5506425
D2V-23-109 330 -45 195 433 564818 5503642
Total drilled: 3752.2
NSR
NSR
Ag (g/t) Cu % Zn %
NSR
NSR
NSR
UTM NAD83 Zone 18DDH No. Azimuth Incl. Length
(m)
Elevation
(m) Length
NSR
NSR
NSR
NSR
NSR
From To Au (g/t)
Property Acquisition at Delta-2:
The TSX has approved the acquisition by Delta of twenty -one (21) claims located at the heart of the Delta -2
property as announced January 19, 2024. Under the terms of the agreement, Delta acquires a 100% interest
in the claims by paying the vendors the sum of $5,000 and issuing 350,000 shares of the Corporation at a
deemed price of $0.105 . The vendors retain a 2% Net Smelter Return (“NSR”) royalty on the claims. Delta
retains the right to buy back a 1% NSR from the vendors for the sum of $1,000,000 and retains a right of first
refusal on the remaining 1% NSR.
Issuance of Options
On February 6, Delta issued 200,000 stock options at an exercise price of $0.105 to members of its exploration
team. The options vest immediately and are valid for a period of five (5) years.
Qualified Person
Mr. Daniel Boudreau P.Geo. and Manager of Exploration for Delta Resources Limited is a Qualified Person as
defined by NI -43-101 and is responsible for the technical information presented in this press release. Mr.
Boudreau has reviewed the technical information described herein.
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
or
Frank Candido, Chairman,
Tel : 514-969-5530
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.