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Home > News > Delta Resources wins award...

Delta Resources wins award for Top Discovery in Ontario from NWO Prospectors

Aug 29, 2023


Delta Resources Limited has paid $50,000 to the Ontario Exploration Corporation to buy back the remaining 50% of a 1% Net Smelter Return Royalty on its Delta-1 property in Thunder Bay.

On January 7, 2020, Delta announced that it had signed an agreement to purchase 50% of the OECs NSR at Delta-1 by paying the sum of $50,000. The agreement also allowed for Delta to purchase the second 50% tranche at anytime by paying the OEC an additional $50,000. Following the purchase of the second 50% tranche, Delta has now purchased the entire NSR Royalty currently owned by the OEC on the Delta-1 Property.

"We are extremely pleased to have concluded this transaction. Completing this transaction at this time should go a long way in building shareholder value in our opinion," says André Tessier, President and CEO of Delta. "Delta would like to take the opportunity to thank the Ontario Prospector's Association and the Ontario Exploration Corporation for facilitating this transaction."

Delta Resources Chosen for the Discovery of the Year

Delta Resources was awarded the 2022 Bernie Schnieders Discovery of the Year Award from the Northwestern Ontario Prospectors Association for its Delta-1 gold project, 50 kilometres west of Thunder Bay, in the Shebandowan area.

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 covers approximately 107 square kilometres located 50 kilometres west of Thunder Bay, Ontario where a gold mineralized zone 950 metres long was outlined through drilling in a multi-kilometre-scale intense alteration halo. Best grades to date include a drill intercept of 14.8 g/t Au over 11.9 metres, within a broader interval of 5.92 g/t Au over 31 m. The zone is open in all directions.

  • DELTA-2 VMS and DELTA-2 GOLD covers 194 square kilometres in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.

 



Tags: Northern Ontario / Press Releases / Gold / All Articles