Delta Resources Provides Update on Geophysical Interpretation at its Delta-2 Property; Chibougamau, Quebec: High-resolution magnetic survey helps delineate and extend early structures known to control gold occurrences in the area.
Delta Resources Provides Update on Geophysical Interpretation at its Delta-2 Property;
Chibougamau, Quebec:
High-resolution magnetic survey helps delineate and extend early structures known to control gold
occurrences in the area.
25 high-priority VTEM conductors identified with potential for VMS deposits.
On the basis of the surveys the Company has acquired more strategic ground through staking.
May 20, 2020 / Kingston, ON /Accesswire . Delta Resources Limited (“Delta” or the “Company”) (DLTA:TSX-
V) is pleased to provide an update on its interpretat ion of geophysical data from a 549 line-kilometre, helicopter-
borne VTEM survey and a 722 line-kilometre high-res olution drone-magnetic survey over the Delta-2 property in
Chibougamau, Quebec. The VTEM and magnetic surveys were completed in February and March 2020,
respectively. In addition, Delta acquired the data for a 692 line-kilometre VTEM survey over the northeastern part
of the property; which was previously flown in 2012 by a now defunct company and the data had never be en
interpreted. Together, these surveys cover an area of 152 square kilometres.
André Tessier, President and CEO of Delta Resources Limited commented as follows:
“We’ve now covered the whole Delta-2 property with s tate-of-the-art geophysical methods. These new met hods
allowed us to refine our geological interpretation of the property and highlight its high potential fo r gold and
polymetallic economic mineralization. Our explorat ion team is excited to start field work to ground p roof these
anomalies, leading to a drill program. It’s an exciting time at Delta .”
Michel Chapdelaine, Vice-President Exploration at Delta commented as follows:
“The high-resolution VTEM and drone-magnetic surveys are a game-changer at Delta-2. Both surveys allowed us
to refine our geological model, better understand the distribution of gold occurrences and define targets to a level
that no one has done before in the area .”
In the southern portion of the property, where ther e is excellent potential for magmatic-hydrothermal gold
mineralization, the high-resolution magnetic survey allowed the Com pany to identify several early structures
related to the emplacement of the La Dauversiere pluton. These early structures are known to control five (5) gold
occurrences which have already been identified and include the R-14 Gold Prospect.
In the northern portion of the property, where the Company believes there is a high potential for gold -rich
volcanogenic massive sulphide (“VMS”) deposits, the new VTEM surveys identified at least 77 conductors .
Twenty-five (25) of these conductors have been identified as high-priority based on criteria such as strike length,
intensity, association to magnetic highs and locati on at, or near, the geological contact that is know n to be
favourable for the occurrence of VMS deposits in th e region. That same horizon hosts the Lemoine Mine, a past
producer with 757,585 tonnes grading 9.52% Zn, 4.18 % Cu, 4.56 g/t Au and 82.26 g/t Ag. Of the 25 anom alies
initially identified as high-priority, 19 are brand new and have never been drill-tested, while the re maining 6 were
previously known, but deemed to have been incorrectly, or insufficiently tested.
Readers are invited to visit the following link for detailed information on the survey results and int erpretation:
http://youtu.be/BUWwd5zYvb8 . The same video is also available in the “Investo rs/President’s Message” section
at www.deltaresources.ca
Ground Acquisition at Delta-2
Following its new interpretation of the area, Delta has added, through staking, an additional 30 claim s, covering
1,669 hectares. With these additional claims, the Delta-2 property now covers 146 square kilometres.
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.
On October 3 rd , 2019, Delta announced the acquisition of the Eure ka Gold Discovery in the Thunder Bay area
(Delta-1) and on October 16 th , 2019, the acquisition of the Delta-2 Property whi ch 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.
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 C. 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",
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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.