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November 21, 2024

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Delta Resources (DLTA.V): No stone unturned in junior exploration

Delta Resources (DLTA.V) is a Canadian junior explorer operating in the prospective and friendly Canadian provinces of Ontario and Quebec. With two very-high potential gold and base metal projects, Delta writes a unique and interesting story. The company’s expert management team are no strangers to the business with over 80 years of combined industry experience in financing and exploration. Multiple major discoveries already under their belt, Delta’s executive has focused their efforts west of Thunder Bay, Ontario and 35 kilometres south east of Chibougamau, Quebec. Delta-2 rests along the northeast end of the Abitbi Volcanic Belt, where the company is currently exploring targets like the past-producing Lemoine deposit which boasted 757,585 tonnes @ 9.52% Zn, 4.18% Cu, 4.65 g/t Au and 82.26 g/t Ag as well as the Chevrier Zone which has a 43-101 resource of 10.8 Mt @ 1.22 g/t gold indicated and 6.3 Mt @ 1.27 g/t gold inferred. With the past-producing Leomine Mine, one of the richest mines in Canadian history, just two kilometres north of the project, prospects look good for Delta-2. The Delta-1 property in Ontario is made up of 245 contiguous unpatented claims covering 4,495 hectares and contains the Eureka Gold Occurrence where chip sampling returned assays of 13.8 g/t gold over eight metres and 5.5 g/t gold over five metres. The project also covers the same geology as the Moss Lake deposit with roughly two million ounces of near-surface 1.1 g/t gold. Since Delta-1 was primarily explored for its nickel and copper potential, the unrealized opportunity for gold potential is great. Approximately 35 million tightly-held shares, $2 million in the till and a stream of non-dilutive money from the sale of the junior miner’s Bellechasse-Timmins Property, powerfully propels Delta in the completion of its on-going multi-phase 5,000 metre drill program at Delta-2. With assays from both projects expected to arrive well into the new year, Delta Resources and its investors could be swimming in potentially positive news flow.

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