Delta Intersects 1.37 g/t Au over 38.5 Metres Including 4.82 g/t Au over 8.6 Metres at Delta-1 in Thunder Bay, Ontario

Delta Intersects 1.37 g/t Au over 38.5 Metres Including 4.82 g/t Au over 8.6 Metres at Delta-1 in Thunder Bay, Ontario

Kingston, Ontario–(Newsfile Corp. – October 5, 2023) – Delta Resources Limited (TSXV: DLTA) (OTCBB: DTARF) (FSE: 6GO1) (« Delta » or « the Company ») is pleased to provide additional assay results from its second phase of drilling announced on June 6, 2023 at the Delta-1 Gold project located 50 km west of Thunder Bay, Ontario.

Results of five (5) additional drill holes are provided in Table 1 below, following the release of twenty-three (23) drill holes on September 12, 2023. 

So far in 2023, Delta has completed 60 drill holes (D1-23-26 to D1-23-86) for a total of 19,620 metres. Assay results for twenty (20) drill holes are still pending.

Interpretation of Results:

• Drill holes D1-23-64 and D1-23-65 were drilled in gaps within the previously interpreted grade shells shown at Figure 2. Results show continuity within the mineralized zone and the higher grades will help to increase the average grade of the overall gold zone.
• Drill holes D1-23-63 and D1-23-66 were drilled, searching for the depth extension of the gold mineralized zone but pierced below the newly interpreted high-grade ore shoots (see Figure 2).

André Tessier, President and CEO, commented: « The Eureka Gold Zone continues to show good continuity and good gold grades. As drilling continues, our exploration team is gaining valuable knowledge about the controls on the gold mineralization. The size and complex overprinting relationships of this altered and mineralized corridor are indicative of a long-lived mineralizing system with all the ingredients for a large gold deposit. We look forward to applying our new-found knowledge at Eureka to the rest of the alteration corridor. »

Delta has approximately $7.5 Million Dollars in cash and its Fall/Winter 2023 and Spring 2024 Exploration programs are fully funded.

Geological Discussion

The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 19 km strike extent of the Shebandowan Structural Zone. Gold mineralization at Eureka, occurs within a corridor of highly altered (ankerite-calcite-silicification and albitization) rocks exhibiting highly anomalous gold values of up to 0.5 g/t gold. Within the high-grade mineralized portions of this corridor, a stockwork of quartz-ankerite-pyrite-gold veinlets is observed. The density of veinlets is generally proportional to gold grade. The gold mineralized zones have so far been intersected for a strike of approximately 1.8 kilometres, with a high-grade portion extending for nearly 950 metres. So far, the down-dip length of the mineralized zone is approximately 250 metres (220 metres vertical depth). Mineralization strikes approximately 100 to 120 degrees azimuth, with a dip of 75-80 degrees north (shallower dips of 50N are observed in the western portion of the zone). High-grade, wide ore shoots are observed and appear to be plunging approximately 40 degrees towards the west, within this structure. Similar ore shoots are often observed in structurally controlled gold deposits and often occur with a certain periodicity. The currently defined ore shoots are open at depth.

Delta has paused drilling for the month of October 2023 to analyze and further interpret the very large amount of geological, structural and geochemical data accumulated since the beginning of this phase of drilling. During this period, Delta will carry out a 37-line kilometre 3D Induced Polarization survey to better characterize the known mineralized zone and explore the extensions of the gold-bearing structure. A number of the recent drill holes will also be probed using a down-hole televiewer instrument which will collect valuable structural information on possible fault and vein orientations. This multidisciplinary approach will be used to help vector towards new mineralized zones within the gold-bearing structure. Delta will resume its drill campaign shortly after this work is completed.

Analytical Protocol and QA/QC

Chemical analyses reported in this press release were performed at AGAT Laboratories. AGAT Laboratories is accredited to ISO 17025 by the Standards Council of Canada (SCC). Sample preparation was performed in Thunder Bay, 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 AGAT Laboratory in Thunder Bay, 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 AGAT Laboratory in Thunder Bay, Ontario. 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 AGAT Laboratory in Thunder Bay, 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.

Qualified Persons

Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is the Qualified Persons as defined by NI-43-101. He has supervised the drilling program in the field and reviewed the technical information presented in this press release.

Ontario Junior Exploration Program

Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program (« OJEP »). Delta will be receiving up to $200,000 upon completion of its exploration program at Delta-1.

Figure 1: Map of the Eureka Gold Zone, showing the new assay results from this press release. The map also shows the alteration corridor that is hosting the gold mineralization at Eureka and the East Extension of the mineralized zone. This alteration corridor is defined over approximately five kilometres of strike length at Delta-1. Additional drilling will be testing for the presence of high-grade gold shoots within this corridor.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/183003_d813266a549ceb3b_0001full.jpg

Figure 2: Vertical longitudinal section of the Eureka Gold Zone looking north, showing where the drill holes from this release pierced the gold zone. The section shows the shells of gold grades from 0.25 g/t Au to >0.5 g/t Au. The high-grade gold mineralization appears to occur in ore shoots plunging ~40° west.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/183003_d813266a549ceb3b_0002full.jpg

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 gold ounces 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over 1.8 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 107 square kilometres and Delta has identified a 5 km long corridor of intense alteration and deformation at the property, on strike with the gold zone, that has yet to be thoroughly explored.

The DELTA-2 property 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
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:

Contact Delta Resources Limited

Frank Candido, Chairman
Tel: 514-969-5530
fcandido@deltaresources.ca

or

Andre Tessier, President and CEO
Tel: 613-328-1581
atessier@deltaresources.ca

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.