Delta Resources has taken a firm step in its expansion into Ontario by securing a 100% interest in 11 mining claims from Metals Creek Resources and the right to acquire eight more from Gold Cache, located in the strategic Shebandowan greenstone belt west of Thunder Bay.
Delta Resources and the Metals Creek mining concessions
The expansion incorporates 233 hectares of land, contiguous to its flagship Delta-1 project , located 50 kilometres from Thunder Bay. The new claims are located close to the Eureka gold deposit and host several zones of interest, including the Echo Zone, which has returned samples of mineralization, including 1.04 g/t gold over 18.7 metres and 0.45 g/t gold in drill holes up to 21 metres. The Main Gold Cache Zone has also returned favourable results, with samples up to 29.4 g/t gold.
[post_relacionado]Delta Resources President André Tessier highlighted that this acquisition reinforces its focus on consolidating the Shebandowan Belt, a region that could still host significant gold deposits. The company remains committed to expanding mineralization at the Eureka deposit, which remains open both at depth and along strike, allowing Delta to focus on high-potential areas, with no construction commitments on concessions.
Under the terms set forth, Delta will issue 1,250,000 common shares and pay $55,000 to Metals Creek, subject to TSX approval. These shares will be issued in four installments of 312,500 shares every four months. In addition, Delta will make two payments of $40,000 to Gold Cache, scheduled for 2025 and 2026.
Delta has gained ground in this promising mining region of Canada and remains committed to transforming the Shebandowan Greenstone Belt into a highly productive gold resource. With these moves, the company is well positioned to capitalize on the growing minerals market in Northern Ontario.
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Source and photo: Delta Resources