Delta Resources Announces Preliminary Results from Its First Drilling Program at the Eureka Gold Discovery, Thunder Bay Mining District, Ontario
Wednesday, January 8, 2020 8:30 AM
KINGSTON, ON / ACCESSWIRE / January 08, 2020 / Delta Resources Limited ("Delta") (TSXV:DLTA) is pleased to announce preliminary results from its first drilling program at the Delta-1 Property, 50 kilometres west of Thunder Bay, Ontario. Results are deemed preliminary as many intervals within the drill holes remain to be sampled in order to define the mineralized zones.
Delta completed a total of 1009 metres of drilling in 6 drill holes in late November 2019, testing the Eureka Gold Occurrence.
Drilling was carried out on three sections oriented at 160 degrees azimuth and spaced 100 metres apart. The westernmost sections cover approximately 220 metres across strike in three drill holes, the easternmost section covers approximately 175 metres in 2 drill holes and the central section covers approximately 110 metres with one drill hole.
From north to south, drilling intersected clastic sediments, ultramafic flows and feldspar-phyric mafic flows with sediments and ultramafic flows crosscut by dikes of intermediate composition. All units are pervasively altered and mineralized the same way. Alteration consists of progressive ankeritization and silicification followed by at least two generations of breccias. The timing of gold mineralization is still unclear. Both alteration and mineralized zones are open in all directions. The true thickness of the mineralized zones can't be established yet due to a lack of information.
Results to date show a very wide zone of low-grade gold mineralization intersected over 200 metres of strike length in drill holes DT1-19-02, 03 and 05.
- DT1-19-02 = 106.7 m grading 0,11 g/t gold (note that 17,8 m of drill core remains to be assayed within the zone and were temporarily assigned values of zero).
- DT1-19-03 = 141.0 m grading 0,13 g/t gold (note that 20,8 m of drill core remains to be assayed within the zone and were temporarily assigned values of zero).
- DT1-19-05 = 97.0 m grading 0,23 g/t gold (note that the zone is open, up and down hole and 23,6 m of drill core remains to be assayed within the zone and were temporarily assigned values of zero).
Complete results are as follows:
"We're very pleased with these initial results at Eureka", says André Tessier, president and CEO of Delta Resources. "The alteration is extensive and pervasive, and there's a lot of gold in the system. Our focus now is to look for structural traps or the core of the mineralizing system where the higher-grade zones are hiding."
The Delta exploration team is currently in the field, sampling the intervals yet to be sampled. Results will be released as soon as they are available with a more comprehensive interpretation of the mineralization.
The property is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone which also hosts the low-grade - high-tonnage Moss Lake gold deposit (Wesdome; WDO:TSX), 50 km to the west.
Analytical Protocol and QA/QC
Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories in Red Lake, Ontario (ISO/IEC 17025 certified), by atomic absorption method. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
NQ-size drill core was sawed in half lengthwise and half of the core was sampled based on geological observations. The remaining half of the core was replaced in core boxes and is stored on site. Drill core samples were bagged and sealed before being transported to SGS Canada Minerals' laboratory in Red Lake.
Andre C. Tessier, P.Eng and P.Geo. President and CEO of 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. Mr. Tessier has reviewed the drill core and the analytical results described herein.
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.
Delta 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 while evaluating the long-term potential of its 100% owned Bellechasse-Timmins gold deposit in southeastern Quebec.
On October 3rd, 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area 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.
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
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. 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