Delta Resources Limited (TSX-V:DLTA) (TSXV:DLTA) shares gained 10% to $0.54 on Tuesday after the Canadian mineral exploration company provided assay results from two additional drill holes, D1-23-33 and D1-23-34, from its 2023-Phase 1 drill program at the Delta-1 gold project near Thunder Bay, Ontario, which included 1.15 grams per tonne gold over 89.7 metres (m) near surface.
Delta said through 3D modeling and with its 2023-Phase 1 drill results to date, the geometry of the gold mineralized zone appears to consist of three distinct zones of higher-grade mineralization within an envelope of lower-grade material.
“Although there are three more holes to the east which remain to be reported, with hole 38 on the edge of the magnetic low, we are already anxiously anticipating the next 5,000-metre drill program announced just yesterday,” Delta Resources CEO André Tessier said in a statement.
“As stated previously, we believe that we are only beginning to reveal the extent of this very large gold system,” he added.
The company also noted that it completed 3,506m of drilling at the end of March 2023, extending the total strike length of the mineralized zone to 1.5 kilometres.
Delta said it expects to announce a resumption of drilling shortly.
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