Gold Stock News: Delta (TSXV: DLTA) Continues to Intersect Wide Zones of Gold Mineralization Near Surface Including 1.29 g/t Gold over 97.0 Metres and 0.55 g/t Gold over 238.5 Metres at Delta-1 in Thunder Bay, Ontario
Kingston, Ontario - April 20, 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 two additional drill holes D1-23-31 and D1-23-32 from its 2023-Phase 1 drill program at the Delta-1 gold project located 50 km west of Thunder-Bay, Ontario.
André Tessier, President and CEO, commented: "These latest Delta 1 results contain economic widths and grade of gold mineralization in a very strong, pervasive and expansive alteration zone. Delta is slowly defining a very large mineralized system. As our understanding of the mineralized zone improves, our chances of finding similar zones elsewhere at the Delta-1 project also improve. We believe that we have barely scratched the surface of this exciting project."
Holes D1-23-31 and D1-23-32 were drilled on the same drill-pad and define a North-South section, 100 metres east of an intercept of 4.23 g/t Au over 26.2 metres from drill hole D1-23-30 reported on April 12, 2023 and 300 metres from an intercept of 5.92 g/t Au over 31.0 metres in drill hole D1-22-18 reported on October 15, 2022 (see figures 1 and 2). Both drill holes D1-23-31 and D1-23-32 intercepted wide zones of near-surface gold mineralization in intensely altered rocks.
Through 3D modeling and with Delta's 2023-Phase 1 drill results to date, the geometry of the gold mineralized zone appears to emerge as three (3) distinct zones of higher-grade mineralization within an envelope of lower-grade material. From north to south, the zones were labelled: "Alpha, Beta and Gamma" (see Figures 1 to 3 and Tables 1 and 2). The Beta Zone is the most important so far, but each zone may pinch and swell, sometimes converging into very wide zones. Each of these gold zones have the potential to expand or host high-grade mineralization. The Gamma Zone has never been tested near surface while some drill holes have collared into the Alpha Zone.
At the end of March 2023, Delta completed 13 drill holes for a total of 3,506 metres at the Delta-1 project. The drilling tested a 600 metres extension of the gold zone towards the east, extending the total strike length of the mineralized zone to 1.5 kilometres. Assays are pending from five (5) of these drill holes to the east and results will be reported as they are received and interpreted. Delta is currently planning an additional 5000 metre drill campaign and expects to announce a resumption of drilling shortly.
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. and Manager of Exploration at 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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