Delta Resources Begins Drilling in Thunder Bay, Ontario and Selected to Receive $200,000 Grant from The Ontario Junior Exploration Program (« OJEP »)
Kingston, Ontario–(Newsfile Corp. – May 11, 2022) – Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) (« Delta » or « The Company ») is pleased to announce that drilling has begun on its Delta-1 Gold property in Thunder Bay, Ontario 50 kilometres west of Thunder Bay, Ontario. The initial drill campaign includes 10 holes for approximately 3,000 metres.
Delta has outlined a gold zone over 450 metres long and 20 metres wide, extending from surface to 150 metres vertical. The zone is open in all directions. The zone grades approximately 1 g/t Au and is located at the core of a gold halo grading 0.2-0.4 g/t Au over 100-150m in width. The zone is currently outlined with only 1,680 metres of drilling to date and the current drill campaign is to extend the mineralized zone for another 300 metres on strike and up to a depth of 250 metres.
The Delta-1 property is located in the Shebandowan Greenstone Belt and covers a 17km strike extent of the Shebandowan Structural Zone which also hosts the low-grade – high-tonnage Moss Lake gold deposit, 50 km to the west.
Thunder Bay Exploration is Heating Up
White Metal Resources Corp. recently announced on May 2, 2022 that it had intersected 466.5 metres averaging 0.51 g/t Au which also included 267m of 0.71g/t Au at Tower Mountain 10 kms southeast of the Delta-1 Property.
Better known and much further advanced in its exploration campaign is Goldshore Resources which recently announced on May 5, 2022 that it had intersected 128.3 metres grading 1.1 g/t Au from the Moss Lake Deposit with an additional parallel zone 5.31 g/t Au over 16.0 metres with visible gold. Moss Lake is located 50 kms west of the Delta-1 Property, on the same structure.
Delta to Receive $200,000 Grant from OJEP
Delta is also pleased to announce that it was selected to receive a $200,000 grant from The Ontario Junior Exploration Program (« OJEP ») to further advance its Delta-1 Gold Property in Thunder Bay, Ontario. OJEP helps junior mining companies finance early exploration projects. These projects help boost mineral exploration, growth and job creation in the province, particularly in northern and Indigenous communities. Delta was one of 18 companies selected by OJEP to receive this grant. To learn more about the program, please visit OJEP at the following link; https://www.ontario.ca/page/ontario-junior-exploration-program#section-3.
Delta-2 VMS Property in Chibougamau, Quebec
Delta recently completed approximately 7,574 metres of drilling in 36 holes. All assay have been sent to the lab and results are currenly pending. Delta will report the results from the lab once they have been received and compiled. The Delta-2 VMS project is 35 kilometres southeast of Chibougamau, Quebec. Additional gravity and VTEM geophysical surveys are also planned to cover the newly acquired Dollier-Cartier property which is contiguous to the Delta-2 VMS claims.
Delta to Attend the Vancouver Resource Investment Conference (« VRIC »)
Delta is also pleased to announce that Mr. Frank Candido, Chairman and Vice President of Corporate Communications at Delta will be in attendance at the Vancouver Resource Investment Conference on May 17 and 18, 2022. Delta will have a booth and the conference and invites all its shareholders, stakeholders and interested parties to drop by booth #1029 and learn more about its 2 exciting projects in Quebec and Ontario, Canada. To learn more about VRIC, please visit https://cambridgehouse.com/vancouver-resource-investment-conference.
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, 45 km2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
- DELTA-2 GOLD and DELTA-2 VMS, 194 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.
ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.
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.