Gold Stock News - Delta (TSXV: DLTA) (OTC Pink: DTARF) Intersects 4.23 g/t Gold over 26.2 Metres Within a Broader Interval of 2.06 g/t Gold over 65.8 Metres at Delta-1
Kingston, Ontario - April 12, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6GO1) ("Delta" or "the Company") is pleased to provide assay results from the first five drill holes from its 2023-Phase 1 drill program at Delta-1 Gold located 50 km west of Thunder-Bay, Ontario.
All five drill holes reported herein intersected broad zones of favourable alteration and gold mineralization with drill hole D1-23-30, the easternmost and deepest drill hole reported so far returning assays of:
- 4.23 g/t gold over 26.2 metres, Including a 1.10 metre interval of 49.91 g/t Au.
- Within a broader zone of 2.06 g/t Au over 65.8 metres
- And an even broader zone of 0.97 g/t Au over 162.8 metres
Drill hole D1-23-30 is located one hundred metres east of drill hole D1-22-25, previously reported on February 9, 2023 (see long section and map attached). Assays are pending on seven additional drill holes to the east and results will be released in the coming weeks as they are certified by SGS Lab and pass all of Delta's QA/QC protocols.
Drill holes D1-23-26 to D1-23-28 were drilled above drill holes D1-22-18, D1-22-22 and appear to have intersected the gold-mineralized halo surrounding the higher-grade gold zones (See Figure 1). The mineralized zone in drill hole D1-23-29 is cut by a late, post-mineral diabase dike that locally splits the gold zone into two smaller zones. Complete drill results are shown in Table 1 below, including the previously released drill holes D1-22-18, 24 and 25 (true widths are believed to be 60% to 87% of reported lengths depending on the inclination of drill holes).
André Tessier, President and CEO commented: "The gold zone at Delta-1 continues to provide us with very exciting results as we move eastward and at depth. The higher-grade zone persists, within a broad halo that remains above the cut off grade of most open-pit operations in Canada and throughout the world. We expect to receive assay results from the remaining seven drill holes within a few weeks and look forward to integrate this new data in anticipation of Delta's next phase of drilling expected to begin in late-April after spring thaw."
The mineralized zone trends roughly 100° azimuth, dips 80° towards the north, and has now been intersected over a strike length of approximately 1.5 kilometres to a vertical depth of approximately 220 metres. Towards the east, as gold grades increase, the zone appears to turn to an azimuth of 115° azimuth. This change in the orientation of the mineralized zone may be responsible for the improved gold grades and widths of the mineralized zone.
The gold mineralization is generally located at the contact between sandstones to the north and mafic volcanics to the south, spatially associated with feldspar porphyry intrusive dikes that crosscut both rock types. All three rock types are mineralized and altered. Kilometre-scale, texture destructive alteration consists of intense ankeritization, albitization, silicification and sericitization. Gold mineralization consists of a network of multiple generations of quartz-ankerite-pyrite veinlets locally with disseminated grains of visible gold.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories. Sample preparation was performed in Sudbury, Ontario. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
The following assaying protocol was adopted at Delta-1 in an attempt to reduce the assay variability due to nugget effect caused by visible gold:
- If visible gold is observed in the sample or within the assumed mineralized zone, the assay is performed by Metallic Screening whereby the entire sample is crushed, a 1 kg portion is pulverized and screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the SGS Laboratory in Lakefield, Ontario.
- If no visible gold is observed or outside of the mineralized zones, an initial assay is performed by 50 g Fire Assay with ICP-OES finish at the SGS Laboratory in Burnaby, British Columbia. If the assay result exceeds 2.0 g/t gold, remaining rejects are pulverized, a 1 kg portion is screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the SGS Laboratory in Lakefield, Ontario.
NQ-size drill core was sawed in half lengthwise and half of the core was sampled and sealed in clean plastic bags before being shipped for assay. The remaining half of the core was replaced in core boxes and is stored at Delta's core storage facilities. Standards and blanks are inserted in the sequence of samples on site as quality assurance and quality control in addition to the regular insertion of blank, duplicate, and standard samples accredited by SGS Canada Minerals Laboratories during the analytical process.
Daniel Boudreau, P.Geo. Manager of Exploration of Delta Resources Limited is the Qualified Persons as defined by NI-43-101. He 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 covers 58.3 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
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
Frank Candido, Chairman, VP Corporate Communications
Tel : 514-969-5530
Andre Tessier, CEO and President
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.
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