Delta Resources Outlines New Conductors on Potential VMS Horizon at Delta-2 Property; Chibougamau, Quebec: VTEM results suggest high potential for gold rich VMS deposits Company Acquires More Strategic Ground at Delta-2, and
Delta Resources Outlines New Conductors on Potential VMS Horizon at Delta-2 Property;
Chibougamau, Quebec:
VTEM results suggest high potential for gold rich VMS deposits
Company Acquires More Strategic Ground at Delta-2, and
Appoints Frank Candido as its VP Corporate Communications
February 18, 2020 / Kingston, ON /Accesswire . Delta Resources Limited (“Delta” or the “Company”)
(DLTA:TSX-V) is pleased to announce that it has completed its helicopter-borne VTEM survey over the north-east
portion of the Delta-2 property in Chibougamau, Quebec, where the Company sees a high potential for gold-rich
volcanogenic massive sulphide (“VMS”) deposits. Approximately 17 kilometres of this horizon is covered by the
Delta-2 Property.
The new VTEM survey, carried-out by Geotech Limited outlines a number of new conductors on the property with
several conductors located at or near a geological contact that is known to be favourable for the occu rrence of
VMS deposits. Furthermore, several of these new co nductors occur in the vicinity where the Delta exploration
team outlined a significant area (up to 1km long by 200m in width) of garnet-chlorite alteration in the footwall of the
favourable contact in the fall of 2019. This type of garnet-chlorite alteration is commonly seen in the feeder zones
below many VMS deposits.
Readers are invited to visit the following link for detailed information on the survey results and int erpretation:
http://youtu.be/1qUJhhwF-Zc . The same video is also available in the “Investors/President’s Message” section at
www.deltaresources.ca
Ground Acquisition at Delta-2
Delta has acquired a total of 14 new claims contigu ous to the Delta-2 property, covering approximately 880
hectares. With this additional ground, the Delta-2 property now covers an area of nearly 135 square k ilometres.
Eleven of the new claims were staked by Delta but 5 claims were acquired through a purchase agreement with
Multi-Resources Boreal.
The terms of the agreement with Multi-Resources Bor eal include a one-time payment of $5,000.00 and the
issuance of 50,000 shares for a 100% interest in th e claims. Delta also grants a 2% NSR to Multi-Reso urces
Boreal with an option for Delta to buy back a 1% NSR at anytime for $1,000,000. There is a four month hold on
the newly issued shares and the agreement is subject to TSX approval.
Corporate News
Delta is pleased to announce the appointment of Fra nk Candido as its Vice-President of Corporate
Communications in addition to his position as Chairman of the Board at Delta Resources.
Mr. Candido has over 20 years of Capital Markets experience. Since 2006, Mr. Candido has been working as an
independent contractor and consulting publicly list ed companies in areas such as mining/exploration,
pharmaceuticals and technology. Mr. Candido has an extensive network across Canada, the United States and
Europe.
“We are very pleased that Frank has agreed to play this important role within the Company. Mr. Candido’s deep
understanding of our investor base and corporate direction makes him the perfect quarterback for this important
role as we build shareholder value” states Andre C. Tessier, President and CEO at Delta Resources Limited.
Michel Chapdelaine, P.Geo. and Vice-President of Exploration at Delta Resources Limited is a Qualified Persons
as defined by NI-43-101 and is responsible for the technical information presented in this press release.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral explo ration company focused on growing shareholder value
through the acquisition of high-potential gold and base-metal projects in Canada, exploring these proj ects with
state-of-the-art methods, and potentially developing these projects into mines.
In October 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area and the
Delta-2 Property which hosts the R-14 Gold Prospect in the Chibougamau Mining District of Quebec.
Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec, Canada which
contains a 43-101 gold resource of 171,000 ounces at an average grade of 1.83 g/t gold in the indicated category
and an additional 95,000 ounces at an average grade of 1.36 g/t gold in the inferred category (SGS Can ada Inc.,
Bellechasse-Timmins Property Resource Estimate, Southeastern Quebec, August 1, 2012).
The Company’s focus is currently to build a strong portfolio of mineral exploration properties with a high potential
for economic discoveries in Canada while evaluating the long-term potential of its 100% owned Bellecha sse-
Timmins gold deposit in southeastern Quebec.
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) accept s responsibility for the adequacy or accuracy of th is release.
The TSX Venture Exchange has not approved nor disapproved of the information contained herein.
For Further Information:
Delta Resources Limited
Frank Candido, Chairman
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. Forward
looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment
of the debt settlements. Generally, forward-looking information can be identified by the use of forwar d-looking terminology such as "plans",
"expects", "is expected", "budget", "scheduled", "e stimates", "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 ne gative connotation thereof. Investors are cautioned that forward-looking information is
inherently uncertain and involves risks, assumption s and uncertainties that could cause actual facts t o differ materially. There can be no
assurance that future developments affecting the Co mpany will be those anticipated by management. The forward-looking information
contained in this press release constitutes managem ent's current estimates, as of the date of this pre ss 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.