Delta Resources Limited (TSX-V: DLTA) (OTC: GOLHF) is an emerging mineral exploration company whose focus is on its Chibougamau, Quebec Gold Property. Delta’s Chibougamau property package is very large exceeding 155 square kilometers and where there is great potential for new discoveries. Quebec is also very mining friendly and one of the top jurisdictions in the world for exploration and mining. In fact, the government incentivizes exploration companies by giving tax credits of almost 50% on every dollar spent in exploration therefore stretching a dollar much further than the rest of Canada and the rest of the world. Delta Resources Limited offers a fantastic opportunity to get in on the ground floor of an exploration company with a focus on gold.
Here are some recent developments that demonstrate the company’s exciting potential.
Delta Resources Received Non-Dilutive Influx of $1.7M
The company entered into an agreement with Yorkton Ventures Inc. to sell a 100% interest in the Bellechasse-Timmins property in southeastern Quebec. The cash payments will be spread over the following 14 months. Yorkton will also pay DLTA a 1% Net Smelter Return (NSR) royalty on commercial production derived from the property. Yorkton can also exercise the option to re-purchase 0.5% of the NSR at any time for CAD $1 Million. The agreement was signed on July 3, 2020.
Delta Begins Phase II Exploration at Chibougamau, Quebec
On July 9th, the company announced that it had begun Phase II of its exploration at the Delta-2 property in Chibougamau, Quebec. Phase II involves the mechanical trenching on the property to expose the bedrock and its previous work in June focused on identifying and confirming several high priority gold targets.
During Phase I, a 10-person crew of geologists, technicians, and prospectors investigated the site. After the process of analyzing the site, three targets for gold and six targets for Volcanogenic Massive Sulphide (VMS) (Gold, Copper, Silver and Zinc) have been identified as candidates for mechanical trenching.

How Delta Selects Properties for Exploration
Delta has a set of criteria that it looks for when determining whether a property will be a good site for exploration.
They seek properties that have a potential for large deposits based on the size and intensity of the alteration zones, which are zones that affect a mineral’s chemical composition. They look for processes that have been active for a long time and for the presence of a mineralizing engine. In other words, they seek properties where things have been actively changing for a long time and have conditions which are good for producing the minerals that they seek.
Delta seeks out properties that deliver value for their investment. They look for an area with complex geologies and seek out properties that have been under-explored or poorly explored. If an area has not been fully explored for the potential of mineral deposits, that means it will be undervalued. The property should also cover a large area. This makes the exploration endeavor worth the effort, as a small find would not be as valuable as a big one.
Finally, the property should be affordable. This ensures that the potential for reward is high in relation to the investment. DLTA only seeks out properties in Canada, where the local and federal jurisdictions are friendly to mining and in rich mineral zones such as Northern Quebec and Northern Ontario.
Delta Resources is Currently Engaged in Projects at its Two Sites, Delta-1 and Delta-2
Acquired on October 3rd, 2019, the DELTA-1 property is located 50 km northwest of Thunder Bay, Ontario which spans over 4,495 hectares with 245 claims and has the presence of Temiskaming-Type Sediments. The Delta-1 property is 100% owned by DLTA. The property also straddles the Trans-Canada highway, providing easy access to the site. The Delta-1 drilling program has encountered low-grade gold at the site near the surface. The goal now is to identify the geologic structures that feed the system, which will house higher-grade gold deposits. Permitting is currently underway to do just that in the near future.
The DELTA-2 property was acquired on October 16th, 2019, located 35 km southeast of Chibougamau, Quebec and the property intersects with Highway 167. The DELTA-2 property covers 156 square kilometers and is home to 298 claims which is also 100% owned by DLTA.
In keeping with Delta's criteria for under-explored and poorly explored areas, both Delta-1 and Delta-2 were explored in the past. Delta-1 had been dormant since the 1980s and Delta-2 has not been explored since the 1970s. The difference today is that state of the art geophysical methods are a potential game-changer for finding mineral deposits that previously went unnoticed. At least 26 areas have been identified at Delta-2 for VMS mineralization, similar to the Delinel, Guillaume-Cartier and Lemoine deposits, which DLTA is located approximately 1.5km from the Lemoine property.
CEO of DLTA Mr. André Tessier was quoted “We are working as quickly as possible to be drill ready for late summer. Visual examination of the rocks was enough to prompt this accelerated pace, particularly at the Snow gold occurrence. So far, we are very excited with our results and continue to be optimistic of the potential results. We have a large land package which could yield several new discoveries”.
Final Thoughts
Delta Resources, Ltd. is currently developing very promising sites, which they have 100% ownership and company has just sold the Bellechasse-Timmins property for a considerable amount of non-dilutive cash, giving DLTA excellent cash flow to be applied towards drilling over a period of time. The NSR gives DLTA the potential to earn future income based on the production.
With a market cap of below $10 million we believe that this an excellent opportunity to take a serious look at DLTA especially in advance of its anticipated aggressive drilling campaign expected to be announced soon.
Delta Resources has a great share structure, with only 29,149,338 shares outstanding and only approximately 9.5m warrants outstanding, (3.5M @ $.12 cents) and (5.5M at $.30 cents). If the warrants are fully exercised, this would add an additional $2,000,000 dollars to DLTA’s bank account allowing the company to further its path for more exploration and drilling.
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