Delta Resources drills 1.37 g/t gold over 38.5 metres at Delta-1, Ontario
Delta Resources Ltd. [TSXV-DLTA; OTCBB-DTARF; FSE-6GO1] reported 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 additional drill holes following the release of 23 drill holes on September 12, 2023. Drill hole D1-23-62 returned 17.30 metres of 0.95 g/t gold, including 12.00 metres of 0.55 g/t gold, including 26.50 metres of 0.62 g/t gold.
D1-23-64 returned 46.20 metres of 0.47 g/t gold; 38.50 metres of 1.37 g/t gold; and 8.60 metres of 4.82 g/t gold. D1-23-65 returned 35.50 metres of 1.39 g/t gold, including 25.00 metres of 1.81 g/t gold.
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 20 drill holes are still pending.
Drill holes D1-23-64 and D1-23-65 were drilled in gaps within the previously interpreted grade shells. 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.
Andre 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 in cash and its Fall/Winter 2023 and Spring 2024 Exploration programs are fully funded.
The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 19 km strike extent of the Shebandowan Structural Zone.
Delta has paused drilling for 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-km 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.
Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program. Delta will be receiving up to $200,000 upon completion of its exploration program at Delta-1.
DELTA-1 is Delta’s flagship project, where the company is building gold ounces at surface and adjacent to the Trans-Canada highway. To date, 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 km2 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 km2 in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits.