Wed, 04 Aug 2021

KINGSTON, ON / ACCESSWIRE / June 22, 2021 / Delta Resources Limited ('Delta' or 'the Company') (TSXV:DLTA)(OTC PINK:DTARF)(FRANKFURT:6G01) is pleased to announce that a gravimetric geophysical survey at its Delta-2 VMS property in Chibougamau, Quebec has located a number of highly prospective anomalies down-dip from a VMS horizon, at depths greater that 300m vertical. The gravimetric survey consisted of 29.9 line-kilometres, covering an area of 4.25 square kilometres, in the south-east portion of the Delta-2 VMS property. The survey area covered approximately four kilometres of strike length of a sulphidic horizon believed to be the stratigraphic horizon that hosts the Lemoine past-producing mine located north of the property. The Lemoine mine is an isolated, high-grade VMS deposit that produced 757,585 tonnes @ 9.52% Zn, 4.18% Cu, 4.56 g/t Au and 82.26 g/t Ag between 1975 and 1983 (Source: www.sigeom.mines.gouv.qc.ca).

André Tessier, President and CEO commented as follows: 'These gravimetric anomalies couldn't possibly be better located; down-dip from our target horizon, potentially in the fold hinge of a syncline, and within a package of highly altered rocks. These are very exciting gravimetric signatures, typical of buried VMS deposits. Preparations underway to drill test these targets.'

Gravimetric surveys are meant to detect large masses that have strong density contrasts relative to their host rocks. Since massive sulphides have a high density, gravity is a technique that is well suited to detect VMS orebodies. The gravimetric survey, carried out by Geosig Inc. of Québec City, located Residual Bouguer anomalies of up to 0.6 mGal, interpreted to be at depths of 300-350m.

It is noteworthy that the Neves orebody at the giant Neves-Corvo VMS Deposit, for example, was discovered at a vertical depth of 350m based on a residual Bouguer gravimetric anomaly of 0.3 mGal (Leca, X. 1990, Discovery of concealed massive sulphide bodies at Neves Corvo, southern Portugal - a case history, summarized by Abitibi geophysics https://www.ageophysics.com/en/neves-corvo).

There are three target anomalies with 0.6 mGal responses within a main anomaly with a response of 0.1 to 0.3 mGal. The main anomaly is striking NE, parallel to stratigraphy and the interpreted fold hinge. Observed dips at surface are 70 degrees SE. The main anomaly is approximately 1km long and 300m to 400m in width. Within this main anomaly, three peak responses of 0.6 mGal are observed: from the SW to the NE, they are respectively 200m x 250m, 100m x 100m and 50m x 50m (see Figures). Other anomalies of similar magnitude and larger are also observed within the survey area and are currently being investigated relative to their geological setting.

Qualified Person

Andre Tessier, P.Eng and P.Geo. and President of Delta Resources Limited is a Qualified Person 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 exploration of two very high-potential gold and base-metal projects in Canada.

  • DELTA-1, 45 km2 located 50km west of Thunder Bay, Ontario where an extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
  • DELTA-2 GOLD and DELTA-2 VMS, 170 km2 in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.

Delta has 35M shares outstanding has a fully funded exploration for 2021 and in addition, is set to receive $1 M in scaled payments, starting August 1st, 2021, through the sale of its Bellechasse-Timmins gold project in SE Quebec.

Residual Bouguer Gravity map of the survey area showing the location of the anomalies relative to the NE-trending syncline of the prospective sulphidic VMS Horizon. The gravity map is overlain on magnetic map.

3D-Block diagram of the unconstrained inversion from the gravimetric survey from surface to ~400m vertical and cut at section 18N. The diagram shows the same dips as observed from surface and suggests the gravity anomalies are located at the fold hinge of the interpreted syncline.

ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

Andre C. Tessier
President, CEO and Director
www.deltaresources.ca

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, VP Corporate Communications
Tel : 514-969-5530
fcandido@deltaresources.ca

or

Andre Tessier, CEO and President
Tel: 613-328-1581
atessier@deltaresources.ca

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 includes, but is not limited to, statements regarding: the samples may be proximal to a rich bedrock source for the gold; the possibility of the same source for gold mineralization; and the initiation of a property-scale till survey in September. 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



View source version on accesswire.com:
https://www.accesswire.com/652617/Deltas-Gravimetric-Survey-Detects-High-Priority-Anomalies-Down-Dip-of-Lemoine-VMS-Horizon-in-Chibougamau-Quebec

More Charlotte News

Access More

Sign up for Charlotte News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!