Delta Resources CEO Andre C. Tessier (DLTA) (GOLHF) (6G01) First $100,000 Cash Payment from Yorkton Ventures – KINGSTON, ON / Delta Resources Limited (“Delta”) (TSXV:DLTA)(OTC:GOLHF)(Frankfurt:6G01) is pleased to announce that it has received the first cash payment of $100,000 for the sale of the Bellechasse-Timmins Gold Deposit in southeastern
Hi how’s everyone doing today this is rich and we have a rich tv live with our very special guest andre tessier the ceo of delta resources how you doing today andre dear well thanks for watching yourself i’m doing fantastic thank you for joining us congratulations on some of the success on delta resources the stock’s been doing well prices of gold are going
Up minerals and mining company stocks typically right now are going up so congratulations on your success well thank you we’re very optimistic absolutely and i’m very excited about your company you guys have like almost no debt you guys have a tight share structure you guys are in the right sector right now how long have you been in this business with delta
Resources how long has the company been around well the company uh took over from another company called the golden hope mines that have been inactive uh since about 2012. they uh they had just done a rollback so we had nice light share structure we brought in new management we brought in uh new board members and uh and from then it was uh it was time to
Acquire some some really good properties and we were extremely lucky in finding two real gems and what exactly does delta resources do we’re a mineral exploration company and uh so we’ve acquired some you know fairly grassroots uh properties with very high potential for you know that that we’ve acquired based on on very strict criterias and um and uh and we’re
Exploring them right now very good how large is the property package in quebec oh my god uh the land package in quebec is huge it’s about 156 square kilometers right now and in fact it’s probably one of the largest one in the chagula camp right now we i should say too that we we started with about 126 square kilometers and and since then i’ve added another 30
Square kilometers to the package because we’re getting encouragements in the area so uh so it was uh yeah we uh we’ve consolidated everything and it looks really good why is the shibugamo quebec an important area for exploration well shibukumo is well first of all it’s a it’s an old mining camp so there’s been a lot of mining in the area there’s there’s a lot
Of people who know mining uh quebec is a very friendly uh jurisdiction as you know um but more than that uh is going through a bit of a renaissance right now uh we’ve got companies like troilus gold uh that you know they’re dealing with a five and a half million ounce deposit just north of shibuya wow we’ve got a company like i am gold with their monster lake
Project uh monster lake has nearly half a million ounces of very high grade gold then they’ve got the nelligan project as well i am gold they which is a 3.2 million ounce deposit and and we’ve got the genesis genesis exploration which is right next door to us um and they’re working on their chevrolet uh gold deposit uh which right now sits at about 680 000
Ounces of gold just recently too uh dory copper acquired the joe mann mine located about 15 kilometers south of us um and that’s an old producer that produced way over a million ounces of gold so there’s a lot of activity in the area and i should say that um except for troilus all of these deposits occur around a pluton uh that the ledova and the vernier pluton
And and we own the large package just north of that pluton so it’s it’s it’s good good ground absolutely surrounded by some serious players i like that with huge huge huge ounces um how far does each dollar spent in quebec for exploration go compared to other jurisdictions around the world uh well rich the quebec is is well known for its its mining friendly
Uh policies and um and you know to give you an example for us uh we are considered by the good quebec government as being explorers in the mid north um area and in our area for every every dollar that we spend we get to 28 back in uh in incentives wow so what that means is if you include the taxes uh that’s that’s 41 that’s coming back to us so when you spend
A million dollars and you get 410 000 back so this is a huge huge wow that’s a huge incentive that’s incredible i didn’t know that yeah now and if you go even further north the incentives are even greater but of course it’s more more expensive to explore wow okay that’s great now you recently announced the sale of one of your properties for 1.7 million in cash
I love this deal and you received your first 100k i did a video on that explaining the news which i think is great with the other payments scheduled over the next 15 months why is this significant for your exploration project and based on the quebec tax structure for expiration how much is this really worth to you in terms of potential dollars uh well again
Yeah the the quebec jurisdiction is a really great one to explore um and you are correct uh we’ve received our first hundred thousand dollars uh the payment uh 250 000 will be owed in october and then from then on uh until uh september of 2021 we’ll get 1.7 million if we were to spend uh all of that on our expiration property at delta too the 1.7 million if
We can do the math uh turns out to be about 2.4 million dollars and of course that’s non-dilutive so it’s it’s huge for uh for us oh yeah absolutely what makes the delta ii project so exciting where do i start um it’s a great land position uh like we stated earlier it’s great land position very active exploration around uh old mines like the old lim one mine
That’s just adjacent to our property the joe man pass producer over a million ounce that’s just south of our property joe mann was interesting because it’s it’s uh you know 1.1 million ounces of 8.8 grams per ton gold but also mixed in with with silver and copper so it’s the type of target that we’re looking for at delta 2. the other exciting thing at delta ii
Is that you know with all this activity and with these old deposits surrounding us um there’s there’s actually uh two types of deposit that we’re exploring for we’re exploring for vms poly deposits and gold rich magmatic hydrothermal deposits so that makes that that makes the property pretty exciting how is it that you have those two distinct types of targets
On the same property gold and vms gold silver cop and copper and zinc how is it that you’re able to do that well these deposits form in two different environments right the the vms or volcanogenic massive sulfide poly deposits they form at mid-ocean ridges so at the base of the ocean of course there’s no more ocean in the shabu more area but the rock record
Is telling us that and the the lemuen deposit is one of those deposits the one was it was a bit less than about 300 quarter sorry three-quarter million uh ton deposit uh a very high-grade material um so uh in addition to this these deposits usually form on a particular stratigraphic horizon and right now delta has about 17 kilometers of strike length of that
Favorable horizon so that’s one environment now the other type of environment that we’re looking at um is is the magmatic hydrothermal gold deposit those deposits form they associate they’re associated with plutonic activity in our case it’s the ledova for which we have the contact um and they’re basically when these these plutons are in place uh they shoot
Out these dikes and you know into these structures and they also shoot out this mineralization so so you know there are two very distinct types of deposits and in our particular case we have both types on the property and the r14 for example is is a good gold prospect that is of that magmatic hydrothermal fantastic now how close were you to the past producing
And super rich lemoine mine what were the average grades oh geez um lemoane was a was a real jewelry box in fact it i think to this day it’s probably one of the richest uh deposit uh in canada um it was it was relatively small with about three three quarter million tons 750 000 tons of mineralization but it graded 9.4 percent zinc 4.2 copper 4.5 grams per ton
Gold and about 90 grams per ton silver so like i said it was a real little jewelry box it’s um it’s located about uh 1.8 kilometers north of our property um but again a stratigraphic horizon on which uh la one is sitting extends to our property for over 17 kilometers of strength wow is it true that the vms type deposits like the lemoine mine always happen in
Clusters and what is the likelihood that you can find others like it i see you’ve done your homework uh they it is true uh the great majority of vms like energetic massive sulfide deposits because of the way they form they typically form in clusters um and you know there’s examples of that everywhere in canada for example there’s the miranda district there’s
The metagamy district both of them in quebec in new brunswick you’ve got the bathurst district in manitoba you’ve got flinfland and snow lake districts all of these um they’re and and that’s why they call them camps they’re mining camps because there’s more than one of these deposits so when you get a deposit like la one which is sort of a lone deposit sitting
There by itself it’s pretty suspect now not only um you know that we can add to this the fact that the classical distribution of size of these deposits in each individual camp is such that you typically have a giant ore deposit like you know they’re they’re typically over 60 million tons of mineralization the horn mine and the flinflaunt mind in canada are two
Good examples of that but then you get a great number of intermediate size deposits you know varying between five and 25 million tons of mineralization and then you usually get a number of these smaller deposits you know in the million ton range now if we take that into account uh we can we can see that lim one is laying at the the bottom end of that spectrum
Which you know would suggest that the larger deposits are yet to be found um so that’s what we’re looking for and that’s what we’re targeting that’ll be huge that sounds so exciting i understand that you are completing phase two of your exploration campaign when will you have results to show the market based on this work and are you excited about the potential
Results well we’re always excited about potential results uh when you get results geochemical results most geologists will tell you it’s like christmas morning but uh but we uh we expect those results we we’ve we’re not completely done with our mechanical trenching so far we are done at the snowfall gold occurrence uh where you know past expiration yielded up
To 11 grams per tonne gold so we’ve done the mechanical trenching there we’ve done our channel sampling and those results should be in uh within a month um that’s what the lab promises anyway uh the rest of the assets because we’re still trenching on on some of these targets and uh and results will just flow as as we as we receive them very good and when will
You be drill ready and how many targets do you anticipate drilling uh we technically we are drill ready because some of these targets you know we’ve tried to go take a look at and and in some cases the overburden’s just too deep so they they basically become drill targets that said we’re in the process of prioritizing these drill targets and and once we have a
Priority list we’ll start drilling them but i would assume that we should be ready uh by september to start drilling some of these targets um you know all if drills are available at the time this drill program should extend all the way to the winter 2021 because uh a lot of these targets need to be drilled in winter so we what i’d like to do uh to start is at
Least drill a minimum of 10 targets from our from our volcanogenic massive sulfide targets we have right now a bit over 30 and then we also want to test our gold targets in the southern part of the of the property so i’d say we’re probably looking to start at about a 5 000 meter drilling program wow and what are the chances that you find multiple deposits on
The same property i don’t know that you can put any number on that um uh that said like we discussed these these vms deposits uh typically occur in clusters and and we’ve got the lone wolf there up there with with the one deposit um should we be lucky enough to uh to you know get a or find a new uh bms deposit uh considering the fact that they’re typically
In clusters then i would say our chances are pretty high that we will be finding a new one after that um you know the old saying is uh no better place to look for a mine than next to another mine yeah that’s the name of the game right yeah what everyone talks about like my mind is right beside this mine and that mine and they pulled up five million ounces and
They pulled out a million ounces they pulled i get it i understand it it makes so much sense right um for us and here in our community it’s all about share structure like we really like tight floats tight share structures because those are the ones that explode right there’s quite a few stocks that we’ve seen over the last couple years especially miners that
Have just gone bonkers i’m not going to use today to explain them all or to bring them up but i think we know some of them and and and i think i’m sure you know lots of them that have done extremely well and and i believe this is an early stage opportunity similar to that it has a lot of upside that can really explode can you explain for myself and all of our
Uh community what your share structure is um how much is being held by insiders and what kind of skin in the game you might have as far as like how many shares you’re holding and you know maybe like some maybe institutional investors how much maybe they’re holding and what’s out there on the float and how much is available for people to buy in the open market
Uh well we’ve got a fairly tight share structure right now we’ve got 29 million shares outstanding and fully diluted we’re at about 38 million a lot of these are warrants that vary in price between 20 cents and 30 cents uh we still have a few uh scragglers at 12 cents and those will expire at the end of 2021 in terms of uh of opportunity or or skin in the game i
Personally own 149 000 shares and and i intend to continue investing in the company um right now my investment is mostly in time um that said we we truly believe in the stock our management in general owns about four percent of the stock i would say um and in in terms of institution uh we have uh cdx a quebec institution uh that that went into the last financing
At 20 cents uh with an investment of 200 000 dollars so um there’s there’s a lot of float there uh and like we said uh earlier we we are a company that took over an older company called golden hope so you know different investors like different companies occasionally you’ll have the the golden hope the old golden hope uh investor that that is looking to sell
Their shares so there’s there’s always opportunities in the market if there was one thing you’d want investors to know about the company and why they should probably possibly invest what would that be i i would say the biggest thing i would want investors to to remember is that our priority at delta is to bring shareholder value um we’re not here to you know
Promote overly promote and pump the stock we we truly want to discover deposits our management team with michel chapterland as vp of exploration uh myself frank candido have a good history of bringing shareholder value and discovering making significant discoveries in the field our intent is to do the same thing with delta we are looking for a mine very good
And what is the best way for someone to get in contact with the company if they were interested in investing well there’s a couple ways um i can always be reached directly uh at a tessier deltaresources.ca and frank candido our chairman is also available at f candido at deltaresources.ca i’d invite investors to take a peek at our website which is deltaresources.ca
Fantastic well i wish you all the best of luck on your future endeavors myself and our community be watching very very closely and i wish you all the best of luck moving forward thanks very much rich thanks for this thank you for your time today andre tessier the ceo and president of delta resources have a nice day everybody you
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Delta Resources CEO Andre C. Tessier (DLTA) (GOLHF) (6G01) By RICH TV LIVE
