- Delta Resources Ltd. (DLTA) has intercepted visible gold and expanded the land position at its Delta-1 Property
- A total of 1,793 samples were collected for gold and sent to SGS laboratories in Sudbury, Ontario for sample preparation and analysis
- The company has also acquired the exclusive rights to buy the surface and mining rights to an 850,000 square metre property next to its Delta-1 property in Thunder Bay, Ontario
- Delta Resources Ltd. (DLTA) is up 29.41 per cent trading at $0.11 per share as of 1:05 p.m. ET
Delta Resources (DLTA) has intercepted visible gold and expanded the land position at its Delta-1 Property.
From May 10 to June 6, 2022, Delta completed a total of 2,719 metres of drilling in nine drill holes.
A total of 1,793 samples were collected for gold and sent to SGS laboratories in Sudbury, Ontario for sample preparation and analysis.
The mineralized zone appears to have been intercepted in all drill holes, potentially extending the gold zone to a strike length of up to 830 metres and a vertical depth of up to 250 metres. Visible gold was observed in four of the nine holes, and rocks continue to be intensely silicified, sericitized, and ankeritized.
All assay results from the program are pending.
The company has also acquired the exclusive rights to buy the surface and mining rights to an 850,000 square metre property next to its Delta-1 property in Thunder Bay, Ontario.
Delta entered into a five-year lease agreement with the surface and mining rights landowners. During the five-year lease period, Delta will have the exclusive right to explore the property and to purchase a 100 per cent interest in both the surface and mining rights. The company made a one-time cash payment of $60,000 to the landowners.
Should Delta elect to purchase, it will pay market value times 10, and the landowners will retain a 2 per cent net smelter return royalty.
With this agreement, Delta now controls an area of 57.6 square kilometres.
The Delta-1 property is located in the Shebandowan Greenstone Belt in Ontario and covers a 17 km strike.
Delta Resources (DLTA) is a Canadian mineral exploration company focused on the exploration of high-potential gold and base metal projects in Canada.
Delta Resources Ltd. (DLTA) is up 29.41 per cent trading at $0.11 per share as of 1:05 p.m. ET.