Delta Resources Secures Permits for Expanded Delta-1 Exploration
By Kevin Vincent
Delta Resources Limited has announced the receipt of two exploration permits for its Delta-1 Expanded property in the Thunder Bay District, Ontario. With these approvals, over 90% of the property is now permitted for early-stage exploration, including diamond drilling, enhancing the company’s ability to advance its flagship project.
Delta-1 Expanded Property
The Delta-1 project, located 50 kilometres west of Thunder Bay, continues to be a significant focus for the company. The property covers 308 square kilometres, strategically positioned adjacent to the Trans-Canada Highway. The project features gold mineralization defined over a strike length of 2.5 kilometres, with mineralization starting from surface to a depth of 300 metres.
Notable drill results to date include:
• 5.92 g/t Au over 31 metres, including 14.8 g/t Au over 11.9 metres.
• 1.79 g/t Au over 128.5 metres.
Delta has also identified additional corridors of alteration and deformation on strike with the Eureka gold zone that remain underexplored.
Stock Options Granted
In conjunction with its exploration efforts, Delta has issued 4,005,000 stock options to its management team, board of directors, employees, and consultants. These options are exercisable at $0.20 per share and have a three-year term, vesting immediately.
About Delta-2 Property
Delta also holds the Delta-2 property in the Chibougamau District, Quebec. Covering 205 square kilometres, this property offers potential for gold-rich polymetallic VMS deposits and hydrothermal gold deposits. Historical production from the LeMoine mine, a notable past producer in the region, includes:
• 0.76 Mt mined between 1975 and 1983.
• Average grades of 9.6% Zn, 4.2% Cu, 4.5 g/t Au, and 84 g/t Ag.
Strategic Growth
Delta Resources continues to focus on creating shareholder value by advancing high-potential gold and base metal projects. With the expanded permitting and exploration programs in place, the company is well-positioned to deliver results at both the Delta-1 and Delta-2 properties.
Tags: Northern Ontario / Exploration / Gold / All Articles