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Delta Intercepts Visible Gold and Expands Land Position at the Delta-1 Property in Thunder Bay, Ontario
Kingston, Ontario--(Newsfile Corp. - September 7, 2022) - Delta Resources Limited  ( T...
About this update from Delta Resources Limited
[{"type":"text","content":"Delta Intercepts Visible Gold and Expands Land Position at the Delta-1 Property in Thunder Bay, OntarioKingston, Ontario--(Newsfile Corp. - September 7, 2022) - Delta Resources Limited (TSXV: DLTA) (OTC Pink: DTARF) (FSE: 6G01) (\"Delta\" or \"The Company\") is pleased to update its shareholders on the recently completed drill campaign at the Delta-1 property in Thunder Bay, Ontario.From May 10 to June 6, 2022, Delta completed a total of 2,719 metres of drilling in nine (9) drill holes. A total of 1793 samples were collected for gold and sent to SGS laboratories in Sudbury, Ontario for sample preparation and analysis. The mineralized zone appears to have been intercepted in all drill holes, potentially extending the gold zone to a strike length of up to 830 metres and a vertical depth of up to 250 metres. Visible gold was observed in four (4) of the nine (9) drill holes, and rocks continue to be intensely silicified, sericitized, and ankeritized. All assay results from the program are pending.Delta Expands Land PositionDelta is also pleased to announce that it has acquired the exclusive rights to buy the surface and mining rights to a property adjacent to its Delta-1 property in Thunder Bay, Ontario. The 85-hectare property is contiguous with the Delta-1 property, immediately east of the Eureka Gold Prospect where Delta has just completed the drill program referenced previously. Delta entered into a five-year lease agreement with the surface and mining rights landowners. During the five-year lease period, Delta will have the exclusive right to explore the property and to purchase a 100% interest in both the surface and mining rights to the property. Should Delta elect to purchase, it will pay market value times 10. Delta made a one-time cash payment of $60,000 to the landowners. There are no work commitments nor were any shares of the company issued. Should Delta elect to purchase the property during the five-year period, the landowners will retain a 2% NSR royalty of which Delta can elect to buy back 1% at anytime for the sum of $1,000,000.With this agreement, Delta now controls an area of 57.6 square-kilometres, straddling the Shebandowan Structural Zone in the Shebandowan Greenstone Belt.The Delta-1 property is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan S...