Delta Resources Limited (TSX-V: DLTA) (OTC: GOLHF) announced very favorable results as every till sample at the Delta-1 property, 50 kilometers west of Thunder Bay, Ontario was found to contain gold grains in pristine condition. Eight of the samples returned between 41 and 457 gold grains out of a normalized 10kg fraction-size sample. As pristine grains made up between 78% and 99% of the total gold grains, it is believed that very little transport (the amount which the gold may have travelled from its original source) has taken place and that these gold samples are near the bedrock source of the gold. The number of the grains found within some of the samples also may suggest that the source may be very rich for gold.
President and CEO Andre Tessier stated, "These are exceptional till results considering the limited number of samples collected, suggesting a very proximal and rich bedrock source". Mr. Tessier further commented, "Delta will be returning to the Delta-1 property in September to follow up and to initiate a property-scale till survey."
A total of 23 samples were taken at the eastern part of the Delta-1 property. This area was adjacent to the Kasper, Matawin and Eureka gold occurrences of the past. 35 meters down-ice from the Kasper gold occurrence is where the sample was found to contain 209 gold grains per 10 kilograms, with 99% pristine grains. The Delta-1 Property is located in the Shebandowan Green Stone Belt, covering over 17km strike of the Shebandowan Structural Zone which produces low-grade yet high tonnage at Moss Lake gold deposit which is operated by Wesdome Gold Mines (TSX: WDO). The graph below indicates the gold grains found at the Delta-1 property in Timmins, Ontario.
The image above showcases the over 400 grains which was recovered from the Delta-1 property in Timmins, Ontario!
Delta Resources Limited is a Canadian mineral exploration company focused on the miner-friendly jurisdictions of Quebec and Ontario. They seek to use state-of-the-art methods to uncover opportunities in gold and base-metal projects. In addition to the Delta-1 property, they are also exploring the Delta-2 Gold-Polymetallic Property. This property is located in the Chibougamau Mining District of Quebec, Canada.
We recently put Delta Resources Limited on alert and noted the sale of the Bellechasse-Timmins project to Yorkton Ventures Inc. for $1.7M, of which DLTA has already received $100,000 as its first payment. The next payment of $250,000 is expected to be received within the next 60 days or so. Delta has also begun Phase II exploration at the Delta-2 property at Chibougamau, Quebec.
Delta likes to take properties known for their potential to make new gold discoveries and that were poorly explored or underexploited in the past and use the latest technology in order to find gold and metal deposits that could not be found decades ago. This discovery is further evidence that this strategy is a feasible one. As such properties are generally thought to be of little consequence, the company can often acquire them at a great value.
This technical event represents a great opportunity to buy in at a fair price before the next leg of the uptrend begins. With Phase II at Delta-2 underway since July and the property-scale till survey commencing at the Delta-1 property in September, the company is poised to realize their vision of taking dormant mineral properties and turning them into productive components of their respective local economies.
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