Delta Significantly Expands Its Land Position at the DELTA-1 Property IN Thunder BAY, Ontario
DELTA SIGNIFICANTLY EXPANDS ITS LAND POSITION AT THE DELTA-1 PROPERTY
IN THUNDER BAY, ONTARIO
• PURCHASE OF 443 CLAIMS COVERING 93 SQUARE KILOMETRES
August 6, 2024 / Kingston, Ontario / Newsfile Corp. Delta Resources Limited (“Delta” or “The Company”)
(TSX-V: DLTA ) (OTCBB:DTARF) (Frankfurt: 6G01) is pleased announce that it has acquired a 100%
interest in the Ternowesky property further expanding its land position at the Delta- 1 property in Thunder
Bay, Ontario.
The expansive property consists of 443 claim units spanning over seven (7) townships and covering over 93
square kilometres. Delta’s land package now covers over 306 square-kilometres in the central portion of the
Shebandowan Greenstone Belt. The property now covers a 35- kilometre strike extent of both the
Shebandowan and Gold Creek deformation zones. Both structures are gold-endowed, crustal-scale structural
zones at the unconformable boundary between Temiskaming-Type sedimentary rocks and volcanic rocks of
the Greenwater Formation; the same geological setting as Delta’s Eureka Gold Zone.
The claims are contiguous with the Delta-1 property (see map below).
Figure 1: Map showing the location of the Delta-1 and Delta-1-Ternowesky Properties.
“Delta has assembled an outstanding land package with significant potential for multiple deposits, not only
for gold mineralization, but also for magmatic copper-nickel deposits such as the former producing Inco Mine.
The Delta team is already working up new gold targets for further testing later in 2024. We are anxious to
reveal the true potential of this newly acquired ground as Delta takes a significant controlling land position in
the Eastern Shebandowan Greenstone Belt.” said André Tessier, President and CEO.
Delta has reached an agreement with the Vendors whereby Delta will pay $150,000 and issue 1.1M shares
of the Company upon TSX approval of the transaction. The Vendors will retain a 2 % Net Smelter Return
Royalty (“NSR”). Delta will have the option to buy back a 1% NSR at any time for $2M and will have a right
of first refusal on the second 1% NSR to a maximum of $4M. Half of the shares issued by Delta will be subject
to the regulatory hold of four (4) months while the other half are subject to a voluntary hold of twelve (12)
months hold by the Vendors.
The agreement is subject to regulatory approval.
Qualified Person
Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is a Qualified Persons
as defined by NI-43-101 and has reviewed the technical information presented in this press release.
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 on a large gold inventory 50 kilometres
west of Thunder Bay, Ontario, at surface and adjacent to the Trans -Canada highway. To date, the gold
mineralization is defined over a strike length of 2.0 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 306 square kilometres where Delta has identified multiple corridors of intense
alteration and deformation, on strike with, and to the south of the Eureka gold zone and that has yet to be
thoroughly explored.
The DELTA-2 property covers 205 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 Tessier
President and CEO
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 C. Tessier, CEO and President
Tel: 613-328-1581
or
Frank Candido, Chairman
Vice-President Corporate Communications
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.