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Delta Resources Outlines New Conductors on Potential VMS Horizon at Delta-2 Property; Chibougamau, Quebec:
VTEM results suggest high potential for gold rich VMS deposits Company Acquires More S...
About this update from Delta Resources Limited
[{"type":"text","content":"Delta Resources Outlines New Conductors on Potential VMS Horizon at Delta-2 Property; Chibougamau, Quebec:VTEM results suggest high potential for gold rich VMS depositsCompany Acquires More Strategic Ground at Delta-2, andAppoints Frank Candido as its VP Corporate CommunicationsKINGSTON, ON / ACCESSWIRE / February 18, 2020 / Delta Resources Limited (\"Delta\" or the \"Company\") (TSX-V:DLTA) is pleased to announce that it has completed its helicopter-borne VTEM survey over the north-east portion of the Delta-2 property in Chibougamau, Quebec, where the Company sees a high potential for gold-rich volcanogenic massive sulphide (\"VMS\") deposits. Approximately 17 kilometres of this horizon is covered by the Delta-2 Property.The new VTEM survey, carried-out by Geotech Limited outlines a number of new conductors on the property with several conductors located at or near a geological contact that is known to be favourable for the occurrence of VMS deposits. Furthermore, several of these new conductors occur in the vicinity where the Delta exploration team outlined a significant area (up to 1km long by 200m in width) of garnet-chlorite alteration in the footwall of the favourable contact in the fall of 2019. This type of garnet-chlorite alteration is commonly seen in the feeder zones below many VMS deposits.Readers are invited to visit the following link for detailed information on the survey results and interpretation: http://youtu.be/1qUJhhwF-Zc. The same video is also available in the \"Investors/President's Message\" section at www.deltaresources.caGround Acquisition at Delta-2Delta has acquired a total of 14 new claims contiguous to the Delta-2 property, covering approximately 880 hectares. With this additional ground, the Delta-2 property now covers an area of nearly 135 square kilometres. Eleven of the new claims were staked by Delta but 5 claims were acquired through a purchase agreement with Multi-Resources Boreal.The terms of the agreement with Multi-Resources Boreal include a one-time payment of $5,000.00 and the issuance of 50,000 shares for a 100% interest in the claims. Delta also grants a 2% NSR to Multi-Resources Boreal with an option for Delta to buy back a 1% NSR at anytime for $1,000,000. There is a four month hold on the newly issued shares and the agreement is subject to TSX approval.Corporate NewsDelta is pleased...