Delta Resources Starts Field Work at Its Delta-2 Property; Chibougamau, Quebec
CHIBOUGAMAU, QC / ACCESSWIRE / June 4, 2020 / Delta Resources Limited (« Delta » or the « Company ») (DLTA:TSXV) is pleased to announce that field work has started at its Delta-2 property in Chibougamau, Quebec. The objective of the field work is to field-proof Delta’s new geological interpretation while following-up on new geophysical targets which stem from 220 square kilometres of new, high-resolution VTEM and drone-magnetic surveys in the property area. Drilling these anomalies is planned shortly after the field work is completed.
A field crew of 10, including geologists and prospectors will be locating and proofing a minimum of 25 new conductors with excellent potential for volcanogenic massive sulphide (« 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.
In addition, the exploration crew will also be field-testing new syn-plutonic structures with potential for magmatic-hydrothermal gold mineralization.
Michel Chapdelaine, Vice-President Exploration at Delta commented as follows:
« We’re extremely excited to get going with our field work at Delta-2. We’ve assembled an excellent field crew and feel very optimistic that results will soon follow. »
The Delta-2 project is located 35 kilometres southeast of the town of Chibougamau and covers over 146 square kilometres.
In the southern portion of the project, there is excellent potential for magmatic-hydrothermal gold mineralization, associated with several early structures related to the emplacement of the La Dauversiere pluton. These early structures are known to control five (5) gold occurrences, including the R-14 Gold Prospect.
In the northern portion of the property, the Company believes there is a high potential for gold-rich VMS deposits, sitting on the same horizon that hosted the old Lemoine Mine.
Readers are invited to visit the following link for detailed information on the survey results and interpretation: http://youtu.be/BUWwd5zYvb8. The same video is also available in the « Investors/President’s Message » section at www.deltaresources.ca.
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.
On October 3rd, 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area (Delta-1) and on October 16th, 2019, the acquisition of the Delta-2 Property which 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 Canada 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
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
Frank Candido, Chairman
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. 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.
SOURCE: Delta Resources Limited