KINGSTON, ON / ACCESSWIRE / January 23, 2020 / Delta Resources Limited ('Delta') (TSXV:DLTA) is pleased to announce that it has contracted the services of Geotech Airborne Geophysical Surveys to carry out a 581 line-kilometre Helicopter Borne VTEM survey over part of its Delta-2 property in the Chibougamau area of Quebec.
The survey is expected to start during the fourth week of January 2020 and is designed to cover a stratigraphic horizon known to be favourable for the occurrence of Volcanogenic Massive Sulphide (VMS) deposits. Approximately 17 kilometres of this horizon is covered by the Delta-2 Property. In the fall of 2019, the Delta Exploration team outlined a significant area (200m x 400m) of garnet-chlorite alteration in the footwall of the favourable contact; alteration commonly seen in the feeder zones below many VMS deposits.
The objective of the geophysical survey is to outline any conductors that represent masses of sulphides. Anomalies outlined with this survey are expected to be followed up in the field starting in the spring of 2020.
Significant deposits and occurrences of VMS origin are located in this region, including the past producing LeMoine mine (757 585 t @ 9.52% Zn, 4.18% Cu, 4.56 g/t Au and 82.26 g/t Ag) located 1.7 kilometres north of the property boundary and the Delinel and Guillaume-Cartier prospects located approximately 1.5 kilometres southeast of the property boundary.
Delta has retained MI3 Communications Financières Inc. ('MI3') to provide communication services on behalf of the Company in Eastern Canada. These services include, but are not limited to, communication of all news releases and information on the Company, including technical notes, posting on social medias, and assisting the Company at PR roadshows across 14 cities in eastern Canada. The agreement is for a period of 12 months and as consideration for these services, the Company has agreed to pay to MI3 a monthly retainer of C$3,000.
Based in Montreal, MI3 Communications Financières Inc. is a new-age financial communications company geared for today's fast-paced global economy. MI3 specializes in market awareness and market intelligence for Canadian public companies. During the last ten years, MI3 has worked with over 185 small, mid-tier and larger capitalized companies with projects all over the world.
Michel Chapdelaine, P.Geo. and Vice-President of Exploration at 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.
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 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 while evaluating the long-term potential of its 100% owned Bellechasse-Timmins gold deposit in southeastern 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
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