Delta Receives Channel Sample Results From Delta-2 – Chibougamau, Quebec
KINGSTON, ON / ACCESSWIRE / October 26, 2020 / Delta Resources Limited (« Delta » or « the Company ») (TSXV:DLTA) (OTCPINK:GOLHF) (FRA:6G01) is pleased to announce the results from a rock channel sampling program carried out this past summer at its Delta-2 Property in Chibougamau, Quebec. The results include channel sampling that was carried out at its Snowfall Gold Discovery
Delta has recently signed a drill contract with Miikan Drilling Limited of Chibougamau, Quebec and plans to drill these targets and a number of VMS targets as soon as a drill-rig becomes available.
In August and September 2020, Delta geologists with the help of a team of consultants from Laurentia Exploration, carried-out a mechanical trenching, bedrock mapping and channel sampling program at the Delta-2 property in Chibougamau, Quebec. The objective of the program was to gain a better understanding of the gold mineralization encountered in late 2019 and during the summer 2020 in the southern portion of the property, with emphasis on the Snowfall Area (Snow, 007 and AB) and Due Diligence occurrence. The best results are summarized in the table below and can be visualized by referring to the two maps attached to this release:
TABLE OF SIGNIFICANT CHANNEL-SAMPLE RESULTS FROM THE SNOWFALL AREA
AND THE DUE DILLIGENCE GOLD OCCURRENCE.
|Au (g/t)||Ag (g/t)||Cu (%)|
*Channel could not be completed due to bedrock topography or excessive cover.
André Tessier, President and CEO commented as follows:
» The discovery of the Snowfall polymetallic area is a great exploration success for Delta, especially considering it’s a completely new area within a mature mining camp. This area extends over 20 square kilometres within which there has only been 11 historical drill holes, averaging only 50 metres depth and focused on two small targets. We consider this virgin territory with plenty of room for an economic deposit. »
The mineralization of the Snowfall area (Snowfall, 007 and AB) occurs within 200m of the interpreted north contact of the multiphase intrusive complex of the La Dauversière pluton that ranges in composition from tonalite to diorite and intrudes into the mafic volcanic rocks of the Obatogamau formation. The gold (silver and copper) mineralisation is associated to boudinaged quartz (pyrite, chalcopyrite) veins hosted in zones of intense biotite-carbonate alteration that brecciated the host rocks. The host rocks consist dominantly of pillowed and massive basalt intruded by tonalitic-dioritic dykes and diorite with centimetric-decametric xenoliths of basalt. There appears to be zonation of the mineralization from gold-silver-copper closer to the intrusion to gold-only towards the north; a pattern that is continued at the high-grade gold-only Due Diligence Occurrence to the northeast. At the Snowfall area, it is also observed that grades appear to become higher and more polymetallic to the SE, an area that will be drill-tested shortly.
Targets in the southern portion of the Delta-2 project consist of magmatic-hydrothermal gold deposits related to the La Dauversiere pluton, such as the Joe Mann past producer (1956-2007: 1.173 million ounces of gold at a grade of 8.26 g/t Au, 607,000 ounces of silver at 5 g/t Ag and 28.7 million pounds of copper at 0.25% Cu) (Source: Technical Report on the Joe Mann Mining Property dated January 11, 2016, prepared by Geologica Inc.). In addition, Delta is targeting VMS mineralization similar to the Lemoine Mine which is located 1.5 kilometre north of the property. Between 1975 and 1983, the extraordinarily rich Lemoine Mine produced 757,585 tonnes of ore grading 9.52% Zn, 4.18% Cu, 4.56 g/t Au and 82.26 g/t Ag (Source: www.sigeom.mines.gouv.qc.ca).
Analytical Protocol and Qualified Person
Geochemical analyses were performed by Laboratoire Expert Inc, Rouyn-Noranda. Gold geochemical analyses were performed by fire assay with finish by Atomic Absorption. For samples grading over 3 g/t Au, the sample was re-analyzed by fire assay with gravimetric finish. Silver and base metal assays were analyzed by aqua regia (ICP).
The quality assurance and quality control protocol include insertion of blank or standard in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process.
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 exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.
- DELTA-1, located 50km west of Thunder Bay, Ontario where a 1000m drilling program was completed in Nov. 2019, testing the newly discovered Eureka Gold prospect. Results so far show very wide intercepts of low-grade gold in a km-scale alteration zone.
- DELTA-2, located 35km SE of the Chibougamau, Quebec, where preliminary due diligence and prospecting work discovered two new gold occurrences where grab samples returned up to 55,8 g/t Au and 11,45 g/t Au.
Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in SE Quebec, which contains a 43-101 gold resource of 171,000 oz @1.83 g/t gold (indicated) and an additional 95,000 oz @1.36 g/t gold (inferred). On July 3, 2020, Delta signed an agreement with Yorkton Ventures Inc for the sale of the Bellechasse-Timmins project for $1,7M payable over 15 months of signing.
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:
Contact Delta Resources Limited
Frank Candido, Chairman
Andre Tessier, President and CEO
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 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.
Location map of the Snowfall Area and Due Diligence Gold Occurrence
Channel Sample Map of the Snowfall Area
SOURCE: Delta Resources Limited