Delta Resources Confirms the presence of a VMS horizon at Delta-2; Chibougamau, Quebec

Tuesday, August 18, 2020 / Kingston, ON / Accesswire.  Delta Resources Limited (“Delta” or “The Company”) (DLTA:TSX-V) (GOLHF: OTCBB) (6G01:Frankfurt) is pleased to report that its ongoing mechanical trenching program at the Delta-2 property in Chibougamau, Quebec has uncovered a sulphide-bearing horizon favourable for the presence of Volcanogenic Massive Sulphide (VMS) mineralization.

 

The favourable horizon coincides with a string of isolated VTEM conductors that represent VMS targets.  The target horizon is characterized by the presence of felsic tuffaceous sediments, sulphide-bearing chert, sulphidic iron formation and volcanic rocks of rhyolitic affinity (see photos attached), believed to represent a pause in the volcanic sequence. Sulphide mineralization is typically dominated by pyrite and pyrrhotite with chalcopyrite and sphalerite in minor amounts (1-5%).  No graphite has been observed on the conductive horizon, ruling out a graphitic source for the VTEM conductors.  To date, this favourable horizon can be followed for over five kilometres along strike.

 

André Tessier, President and CEO at Delta commented as follows:

 

“Uncovering this favourable horizon is a significant step forward for our VMS exploration program at Delta-2.  Not only does it confirm our geological model but it reaffirms the potential of the VTEM conductors along the horizon.  The presence of sphalerite and chalcopyrite are also of great importance, indicating the right mineralizing processes are present for the formation of economic deposits.”

 

Mechanical trenching was carried out to expose bedrock to surface following the field-proofing of electro-magnetic conductors deemed to be excellent targets for VMS polymetallic mineralization of the same type as the past producing Lemoine Mine which is located 1.5 kilometre north of the property. Between 1975 and 1983, the extraordinarily rich Lemoine Mine produced 757,585 tonnes of ore grading 9.52% Zn, 4.18% Cu, 4.56 g/t Au and 82.26 g/t Ag (Source: www.sigeom.mines.gouv.qc.ca).

 

The Delta-2 project is located 35 kilometres southeast of the town of Chibougamau and now covers over 156 square kilometres. Targets at the Delta-2 project consist of VMS mineralization similar to the Lemoine Mine. In addition, Delta is also targeting magmatic-hydrothermal gold deposits related to the La Dauversiere pluton, such as the Joe Mann past producer (1956-2007: 1.173 million ounces of gold at a grade of 8.26 g/t Au, 607,000 ounces of silver at 5 g/t Ag and 28.7 million pounds of copper at 0.25% Cu) (Source: Technical Report on the Joe Mann Mining Property dated January 11, 2016, prepared by Geologica Inc.).

 

Chert Horizon with disseminated pyrrhotite-sphalerite and chalcopyrite

 

Sulphide-bearing felsic tuffaceous rocks at the contact between mafic volcanic flows

 

Sulphide-bearing felsic tuff (in red) at the contact between rhyolites and mafic volcanics

 

Qualified Person

 

Andre C. Tessier, P.Eng and P.Geo. President and CEO of Delta Resources Limited is a Qualified Persons 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 acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.

 

Delta is currently exploring its Eureka Gold Discovery in the Thunder Bay area (Delta-1) and its Delta-2 Gold-Polymetallic Property in the Chibougamau Mining District of Quebec. 

 

Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec.  On July 3rd, 2020, Delta announced the sale of the Bellechasse-Timmins project.

 

The Company continues to focus on building upon its strong portfolio of mineral exploration properties with a high potential for economic discoveries in Canada.

 

ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

 

Andre C. Tessier

President, CEO and Director

www.deltaresources.ca