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Delta Resources Limited reports exploration and corporate developments for its gold-focused mineral properties in Canada, led by the Delta-1 Gold Project near Thunder Bay, Ontario. Recurring updates cover claim acquisitions and land-package expansion in the Shebandowan Greenstone Belt, drilling assays at the Eureka Gold Deposit, metallurgical test work, geophysical and surface exploration programs, and participation in regional mining-industry events.
Company news also includes non-dilutive exploration funding, option and royalty arrangements tied to its project portfolio, management appointments, and early warning ownership reports involving its common shares. The coverage reflects Delta's position as a junior exploration issuer focused on advancing gold targets in Ontario while managing additional mineral claims in Canada.
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Delta Resources Limited has successfully bought back 50% of a Net Smelter Return (NSR) royalty on its Delta-1 Property from the Ontario Exploration Corporation for $35,000. This acquisition gives Delta the option to purchase the remaining 50% NSR for an additional $50,000, potentially eliminating future royalty payments on key claims, including the Eureka Gold prospect. Delta's CEO, André Tessier, emphasized the importance of this move after recent exploration successes. The company remains focused on maximizing shareholder value through its mineral exploration projects.
Delta Resources Limited has optioned the Dollier Property in Chibougamau, Quebec from Cartier Resources Inc. for a non-refundable payment of $10,000 and a commitment to issue 600,000 shares over four years, alongside $1 million in exploration expenditures. The agreement is pending TSX approval. The property, which contains significant gold prospects, will enhance Delta's existing VMS property package. Upon completion, Cartier is entitled to a 2% NSR royalty, with Delta having the right to buy back 1% for $2 million and the second 1% for $15 million.
Delta Resources Limited announced the completion of a drilling program at its Delta-1 Gold Property, located 50 km west of Thunder Bay, Ontario. A total of 1,376 meters were drilled across eight holes, targeting a gold dispersion trail identified through till sampling. Significant alteration zones were identified, extending over 400 meters. All assays are pending and expected within four to six weeks. The company has 35 million shares outstanding and is fully funded for 2021 exploration, anticipating $1 million from the sale of its Bellechasse-Timmins gold project.
Delta Resources Limited announces promising results from its recent drill campaign at the Oli-Gold discovery in Chibougamau, Quebec. Highlights include:
- 27.93 g/t over 3.3m with peaks of 106 g/t over 0.8m
- 5.74 g/t over 1.8m featuring 12.2 g/t over 0.6m
- 12.13 g/t over 3.5m including 56.70 g/t over 0.7m
Seven drill holes were executed, revealing mineralization across five holes. The company plans further drilling to investigate additional gold targets.
Delta Resources Limited has initiated a drilling program at the Delta-1 Gold Property in Ontario, targeting a significant gold anomaly coinciding with the Shebandowan Shear Zone. This follows extensive till sampling indicating high concentrations of gold grains, with drilling planned for up to 14 holes totaling 2,000 meters. Additionally, Delta has completed 1,056 meters at the Delta-2 Gold Property, with six of seven holes intersecting a mineralized zone. Assay results are pending, and the company plans to provide updates in due course.
Delta Resources Limited has commenced drilling at its Delta-2 Gold Property in Chibougamau, Quebec, beginning on March 13, 2021. The drilling aims to further investigate two mineralized zones identified in previous drill holes. A total of seven holes are planned, totaling approximately 1000 metres. Previous results highlighted high-grade gold intercepts, including 18.88 g/t over 2.5m in drill hole D2-21-28. The company is also subdividing the property to reflect its potential for hydrothermal gold and VMS deposits. Delta has 36M shares outstanding and a fully funded exploration budget for 2021.
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Delta Resources Limited has announced a significant new gold discovery at its Delta-2 Property in Chibougamau, Quebec. The discovery, made during recent drilling, revealed high-grade gold values, with notable findings including 18.88 g/t gold over 2.5m in Drill Hole D2-21-28. This discovery allows for future expansion within a new NE-trending corridor of over five kilometers. Delta aims to continue drilling in this promising area, following the successful identification of multiple mineralized zones that suggest a robust mineralization system.
Delta Resources Limited will participate in the Prospectors and Developers Association of Canada (PDAC) 2021 Virtual Convention from March 8-11, 2021. Starting March 1, the public can visit their virtual booth to access presentations and set up one-on-one meetings with CEO Andre Tessier. Delta operates two promising projects: DELTA-1 near Thunder Bay, Ontario, and DELTA-2 in Quebec's Chibougamau District. The company has 36 million shares outstanding and is fully funded for 2021, expecting an additional $1 million from the sale of its Bellechasse-Timmins gold project.