Delta Resources (TSXV:DLTA) Announces Assays Intersecting 1636 g/t and 697 g/t Gold over 1.0 Metre Intervals and Reports Visible Gold at Delta-1 Project

Figure 1: Vertical longitudinal section looking north 010° of the eastern portion of the Delta-1 Gold Zone showing piercing points of drill holes with grades and metal factors. New results from this release are highlighted in yellow. Source: Delta Resources

Delta Resources Limited (TSXV:DLTA) has unveiled the assay results from the concluding quartet of drill holes of the 2023 Phase 1 drill program. Furthermore, the company shared initial insights on the initial drill holes of the ambitious 5000-metre Phase 2 drilling project at the Delta-1 gold mining site, situated 50 km west of Thunder Bay, Ontario.

Substantial traces of gold mineralization were discovered near the surface in drill holes D1-23-35 and D1-23-36. This expansion of mineralization pushes the boundaries an extra 100 metres eastward from the area of previously reported drill holes.

André Tessier, President and CEO commented in a press release: “These Bonanza grades at Delta-1 are very impressive but more important is the fact that we are doing large, 100 metre step outs and are still consistently hitting strong alteration with higher-grade gold segments hosted within a broader zone of low to moderate grade gold. This speaks to the strength of the mineralizing system and the upside potential as our drilling progresses eastward into the larger “Deep Blue” target area. This deposit is certainly full of pleasant surprises. Given the limited drilling to date, we still have a lot of work ahead of us to better understand this deposit.”

Drill hole D1-23-38 intersected extraordinarily high-grade gold mineralization in narrower segments to the east of a northeast-orientated cross fault, which shifted the mineralized zone southwards. There is yet uncertainty about the correlation of this high-grade mineralization with the broader intervals of lower grade to the west of the cross structure. As is typical in large gold systems, vein widths, veining density, and grade distribution can significantly vary; hole D1-23-38 exemplifies this variability along the favourable structure and geophysical target.

Delta Resources Limited also announces the completion of the inaugural step-out drill holes from its second phase of drilling, announced on April 24, 2023. A further step out of 100 metres east of drill hole D1-23-38, the new drill holes D1-23-40 and D1-23-41, seem to signal a return to the vast intervals of gold mineralization with visible gold detected in both holes. These drill holes represent the first direct testing of the promising “Deep Blue” Target.

Drill hole D1-23-37, drilled from the same pad as D1-22-09, pierced through a broad area of alteration and low-grade gold mineralization in the Alpha and Beta Zones, with noteworthy grades found in the Gamma Zone.

The Delta-1 project is strategically situated within the Shebandowan Greenstone Belt and spans a significant 17 km strike length of the Shebandowan Structural Zone.

Highlights from the results are as follows:

TABLE 1: DELTA-1 2023 DRILL INTERCEPTS 

DRILL HOLE
NO
UTM Coordinates Zone 16 Azimuth Incl. Length
(m)
ZONE FROM
(m)
TO
(m)
Au Grade (g/t) CORE
LENGTH (m
)
Easting Northing
D1-23-35 290464 5385361 180 -40 258 α 25.00 32.00 1.23 7.00
β 89.00 143.00 0.80 54.00
γ 168.00 170.10 2.15 2.10
D1-23-36 290464 5385361 180 -65 354 α 41.00 50.00 1.76 9.00
β 137.00 162.50 0.80 25.50
γ 349.50 352.50 0.99 3.00
D1-23-37 289883 5385385 180 -70 312 α 18.00 122.60 0.37 104.60
β 141.00 294.50 0.44 153.50
incl. γ 272.10 289.60 2.06 17.50
D1-23-38 290600 5385200 180 -45 222.5 β? 62.80 63.80 1636.00 1.00
β? 69.00 70.00 697.00 1.00
β? 90.00 95.00 1.73 5.00
β? 107.00 108.00 9.78 1.00
 Results previously released for drill holes D1-22-18 to D1-23-34.  α=Alpha, β=Beta, γ=Gamma
Figure 2: Total magnetic map showing the up-dip projection of the gold-mineralized zones at Delta-1. Note the association of the mineralized zones with a magnetic low which corresponds to magnetite destructive alteration. Source: Delta Resources
TABLE 2: DELTA-1 2023 DRILL INTERCEPTS 
DRILL HOLE
NO
UTM Coordinates Zone 16 Azimuth Incl. Length
(m)
ZONE FROM
(m)
TO
(m)
Au Grade
(g/t)
CORE
LENGTH (m)
Easting  Northing
D1-22-18 289955 5385581 180 -45 453 β 293.00 324.00 5.92 31.00
incl. 308.10 320.00 14.80 11.90
314.00 316.20 72.95 2.20
incl. γ 358.00 365.00 0.66 7.00
D1-22-24 290005 5385581 180 -45 428 β 309.00 317.00 6.49 10.00
incl. β 309.00 310.00 30.66 1.00
D1-22-25 290052 5385573 180 -45 453 α 229.00 234.00 2.34 5.00
301.50 302.50 130.00 1.00
β 321.00 341.00 1.2 20.00
γ 382.90 401.00 1.66 18.10
incl. γ 399.50 401.00 16.42 1.50
D1-23-26 289947 5385383 180 -58 300   8.70 138.50 0.37 129.80
D1-23-27 290050 5385390 180 -40 270 α-β 16.80 110.00 0.45 93.20
incl. α-β 16.80 77.00 0.54 60.20
D1-23-28 290050 5385390 180 -68 300 α 44.90 62.00 0.63 17.10
β 105.00 117.60 1.91 12.60
incl. 105.00 113.60 2.46 8.60
D1-23-29 290150 5385360 180 -40 231 β 79.00 85.00 2.29 6.00
85.00 93.90 Late Diabase Dike
β 93.90 99.00 1.37 5.10
D1-23-30 290150 5385360 180 -65 303 β+γ 73.20 236.00 0.97 162.80
α 51.20 59.10 0.62 7.90
β 73.20 139.00 2.06 65.80
incl. β 76.00 102.20 4.23 26.20
incl. β 79.00 80.10 49.91 1.10
γ 217.00 236.00 0.74 19.00
D1-23-31 290254 5385377 180 -40 247.5 α-β 36.00 133.00 1.29 97.00
α 36.00 45.50 1.04 9.50
β 58.00 133.00 1.54 75.00
incl. β 93.50 94.40 36.59 0.90
incl. β 124.10 125.00 46.81 0.90
γ 198.00 204.00 0.79 6.00
D1-23-32 290254 5385377 180 -65 303 α+β+γ 42.30 280.50 0.55 238.20
α+β 42.30 176.00 0.61 133.70
incl.   54.00 76.50 1.25 22.50
γ 243.50 280.50 1.15 37.00
incl.   271.50 280.50 2.62 9.00
D1-23-33 290363 5385355 180 -40 261 α+β 14.80 104.50 1.15 89.70
α 14.80 36.00 2.87 21.20
Incl. α 23.00 24.00 45.44 1.00
β 49.00 104.50 0.73 55.50
incl. β 103.00 104.50 12.05 1.50
γ 173.50 193.00 0.72 19.50
D1-23-34 290363 5385355 180 -70 144.3 α+β+γ 33.00 142.00 0.86 109.00
α+β 33.00 75.50 1.31 42.50
α 33.00 45.00 2.08 12.00
β 50.50 75.50 1.21 25.00
γ 115.50 142.00 1.11 26.50
D1-23-35 290464 5385361 180 -40 258 α 25.00 32.00 1.23 7.00
β 89.00 143.00 0.80 54.00
γ 168.00 170.10 2.15 2.10
D1-23-36 290464 5385361 180 -65 354 α 41.00 50.00 1.76 9.00
β 137.00 162.50 0.80 25.50
γ 349.50 352.50 0.99 3.00
D1-23-37 289883 5385385 180 -70 312 α 18.00 122.60 0.37 104.60
β 141.00 294.50 0.44 153.50
incl. γ 272.10 289.60 2.06 17.50
D1-23-38 290600 5385200 180 -45 222.5 β? 62.80 63.80 1636.00 1.00
β? 69.00 70.00 697.00 1.00
β? 90.00 95.00 1.73 5.00
β? 107.00 108.00 9.78 1.00
Results previously released for drill holes D1-22-18 to D1-23-34.  α=Alpha, β=Beta, γ=Gamma

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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