Gold has seen an unprecedented rally as of late due to many factors including quantitative easing and gold prices have soared breaking above USD $1,800 an ounce for the first time in a decade. With the increase in the price of gold, this has helped the resurgence of junior gold miners and explorers a like in North America!
Due to the bull rally in gold, we came across a junior gold exploration company which we believe investors should take a closer look at our recent alert!
In June, Delta Resources began its field work at the company’s Delta-2 property, a very large land package located in the red hot area of Chibougamau, Quebec. The purpose of the field work at the Delta-2 property is to identify new interpretations from specific targets on the approximately 160 square kilometer property that was conducted by a drone-magnetic survey (MAG) and Versatile Time Electromagnetic (VTEM) survey. A crew of 10 people including prospectors and geologists were sent to the Delta-2 property to locate 25 new conductors for volcanogenic massive sulphide mineralization and Gold mineralization. The Delta-2 property is located approximately 1.5 kilometers south of the historic Lemoine Mine, which in 1975 to 1983, the Lemoine Mine produced 757,585 tons of ore with grades of 9.52% Zinc, 4.18% Copper, 4.56 g/t of Gold and a staggering 82.26 g/t of Silver! The Vice-President of Exploration at DLTA Mr. Micheal Chapdelaine stated, “We’re extremely excited to get going with our field work at Delta-2. We’ve assembled an excellent field crew and feel very optimistic that results will soon follow”.
On July 17th 2020, we wrote about a little junior gold explorer called Delta Resources Ltd (TSX-V: DLTA) (OTC: GOLHF) in our article titled “Gold Exploration Company Delta Resources On Alert”. We first alerted DLTA at $.36 cents and since then, shares of DLTA have risen to a high of $.50 cents per share or an increase of 38% in two weeks!
Furthermore, on July 7th 2020, Delta Resources announced that the company has signed an agreement to sell its 100% interest in DLTA’s Bellechasse-Timmins property located in southeastern Quebec for a whopping $1.7 Million to Yorkton Ventures. As part of the sale agreement with Yorkton Ventures, DLTA received $100,000 for the initial payment which was announced July 23rd, with $250,000 due 90 days after approval from the TSX exchange followed by a cash payment of $350,000 200 days after, $450,000 cash payment due no later then June 1st 2021 and final cash payment of $550,000 due no later than September 1st 2021. The sale of the Bellechasse-Timmins property also comes with a 1% Net Smelter Return (NSR) on any production from the property and Yorkton reserves the right to re-purchase 0.5% of the Net Smelter Return from DLTA for $1,000,000 at any moment. CEO of DLTA Mr. Andre Tessier commented “Delta is thrilled to be passing the torch to Yorkton and we are confident that they can advance this project to the next level. We are also pleased to be adding funds to our treasury on a non-dilutive basis in order to advance our exploration efforts at Delta-1 in Thunder Bay, Ontario and Delta-2 in Chibougamau, Quebec”.
Delta Resources is a great junior gold exploration company with zero debt, tight share structure, experienced management team and a promising and very large property located next to the historical Lemoine Mine and DLTA is expected to begin drilling for gold in the very near term! With any good results, this stock could explode to new levels.
Today, Delta Resources announced grab samples from its Delta-2 property in Chibougamau, Quebec and DLTA was pleased to report samples of 8.66% g/t of Gold, 190 9/t Silver and 3.94% of Copper. Vice-President of Exploration of DLTA Mr. Michel Chapdelaine stated “This is a totally new discovery in a well-known mining camp. The target area surrounding the Snowfall Gold-Copper occurrence covers an area well over 5 square kilometers and not one historical drill hole is reported in the area. We have a tremendous opportunity to make a significant discovery in an area where multiple new discoveries are possible”. Delta Resources also stated that mineralized samples have been identified in the north-south direction of 184 meters and 131 meters in the east-west direction.
The Delta-2 property is very exciting as we can see from today’s grab samples and the company has stated that more results will come forth soon and we expect results to be equally impressive and will serve as a catalyst and push shares of DLTA higher!
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