Delta Resources Completes 1% NSR Purchase at Delta-1 in Thunder Bay, Ontario and Wins Award for Top Discovery in Ontario
Delta Resources Completes 1% NSR Purchase at Delta-1 in Thunder
Bay, Ontario and Wins Award for Top Discovery in Ontario
August 28, 2023 / Kingston, On. / Newswire. Delta Resources Limited (“Delta” or the “Company”)
(DLTA:TSX/V) is pleased to announce that it has paid $50,000 to the Ontario Exploration Corporation (the
“OEC”) to buy back the remaining 50% of a 1% Net Smelter Return (“NSR”) Royalty on its Delta-1 property
in Thunder Bay, Ontario.
On January 7, 2020, Delta announced that it had signed an agreement to purchase 50% of the OECs NSR
at Delta-1 by paying the sum of $50,000 . The agreement also allowed for Delta to purchase the second
50% tranche at anytime by paying the OEC an additional $50,000. Following the purchase of the second
50% tranche, Delta has now purchased the entire NSR Royalty currently owned by the OEC on the Delta-
1 Property.
“We are extremely pleased to have concluded this transaction. Completing this transaction at this time
should go a long way in building shareholder value in our opinion.” says André Tessier, President and CEO
of Delta. “Delta would like to take the opportu nity to thank the Ontario Prospector’s Association and the
Ontario Exploration Corporation for facilitating this transaction”.
Delta Resources Chosen for the Discovery of the Year
Delta Resources was awarded the 2022 Bernie Schnieders Discovery of the Year Award from the
Northwestern Ontario Prospectors Association for its Delta-1 gold project, 50 kilometres west of Thunder
Bay, in the Shebandowan area.
A link to the announcement in the Northern Ontario Business publication is included below.
https://www.northernontariobusiness.com/industry-news/mining/whos-the-best-in-their-field-in-mineral-
exploration-
7377627#:~:text=Delta%20Resources%20won%20the%202022,historically%20underexplored%20proper
ty%20since%202019.
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 approximately 107 square kilometres located 50 kilometres west of Thunder
Bay, Ontario where a gold mineralized zone 950 metres long was outlined 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 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:
Contact Delta Resources Limited
Frank Candido, Chairman
Tel: 514-969-5530
or
Andre Tessier, President and CEO
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 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.