07:30:12 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Delta Resources Ltd
Symbol DLTA
Shares Issued 101,738,488
Close 2024-01-19 C$ 0.105
Market Cap C$ 10,682,541
Recent Sedar Documents

Delta Resources acquires 1,170 ha at Delta-2 property

2024-01-19 11:14 ET - News Release

Mr. Andre Tessier reports

DELTA RESOURCES ACQUIRES 21 CLAIMS AT THE HEART OF THE DELTA-2 PROPERTY IN CHIBOUGAMAU, QUEBEC

Delta Resources Ltd. has acquired a 100-per-cent interest in 21 claims covering 1,170 hectares at the heart of the Delta-2 property, located 35 kilometres southeast of Chibougamau, Que.

To acquire a 100-per-cent interest in the claims, Delta will pay the vendors the sum of $5,000 and will issue 350,000 shares of the corporation. The vendors will retain a 2-per-cent net smelter return (NSR) royalty on the claims. Delta retains the right to buy back a 1-per-cent NSR from the vendors for the sum of $1-million and retains a right of first refusal on the remaining 1-per-cent NSR. The transaction is subject to TSX approval.

About Delta Resources Ltd.

Delta Resources 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, Ont., 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 metres. Highlights include drill intercepts such as 5.92 grams per tonne gold over 31 m (including 14.8 g/t gold over 11.9 m) and 1.79 g/t gold over 128.5 m. The property covers 107 square kilometres and Delta has identified a five 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 volcanogenic massive sulphide deposits as well as hydrothermal-gold deposits. Delta targets volcanogenic massive sulphide deposits such as the LeMoine past producer where 760,000 tonnes were mined between 1975 and 1983, grading 9.6 per cent zinc, 4.2 per cent copper, 4.5 g/t gold and 84 g/t silver.

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