Delta Resources Acquires 21 Claims at the Heart of the Delta-2 Property in Chibougamau, Quebec.
Delta Resources Acquires 21 Claims at the Heart of the Delta-2 Property
in Chibougamau, Quebec.
January 19, 2023 / Kingston, ON / Newsfile Corp Delta Resources Limited (“Delta” or “the Company”) ( TSX-
V:DLTA) (OTCBB:DTARF) (FRANKFURT:6GO1) is pleased to announce that it has acquired a 100% interest in
twenty-one (21) claims covering 1,170 hectares at the heart of the Delta-2 property, located 35 kilometres southeast
of the Town of Chibougamau, Quebec.
To acquire a 100% interest in the claims, Delta will pay the vendors the sum of $5,000 and will issue 350,000 shares
of the Corporation. The vendors will 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. The transaction is subject to TSX approval.
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 d rill 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.
Chibougamau
Airport
Chapais
Chibougamau
0 102 4 6
kilometres
SCALE
N
Delta-1
Delta-2
Corner Bay:
7.2MT @ 3.01% Cu & 0.26 g/t Au (I&I)
Lemoine Mine (1975-83)
0.76MT @ 4.2% Cu, 9.6% Zn, 4.5 g/t Au, 83 g/t Ag
DELTA-2 PROPERTY
NEWLY ACQUIRED
CLAIMS
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 anticipate d
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 i s 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.