Drolet Stock Note: Delta Resources Limited – Pure Gold explorer in Quebec and Ontario
Mario Drolet President of MI3 Communications Financières Inc. (MI3) released his Stock Notes on Delta Resources Limited (TSXV: DLTA) for exclusive distribution on InvestorIntel. In this note, MI3 highlighted the following points on Delta Resources Limited:
- Delta Resources Limited is a new Canadian mineral exploration company born at the end of June 2019.
- Delta is currently focused on exploring its high-potential Delta-1 (Eureka) and Delta-2 projects respectively in the Thunder Bay area of Ontario and in the Chibougamau Mining Camp of Quebec while evaluating other projects in Canada deemed to have a strong potential for new discoveries.
- Delta Resources Sold the Bellechasse-Timmins Property for $1.7M to Yorkton Ventures.
- Good capital structure with only 29M shares outstanding
- New 52 week high at $0.29
- DLTA traded over 5.5 Million shares over the last 75 trading session between $0.07 & $0.29
- Support: S2; $0.20 S1; $0.25 Resistance: R1; $0.29 R2; $0.35
About Delta Resources Limited
Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the acquisition of high-potential gold and base-metal projects in Canada, exploring these projects with state-of-the-art methods, and potentially developing these projects into mines.
On October 3rd, 2019, Delta announced the acquisition of the Eureka Gold Discovery in the Thunder Bay area and on October 16th, 2019, the acquisition of the Delta-2 Property which hosts the R-14 Gold Prospect in the Chibougamau Mining District of Quebec.
Delta also owns a 100% interest in the Bellechasse-Timmins gold deposit in southeastern Quebec, Canada which contains a 43-101 gold resource of 171,000 ounces at an average grade of 1.83 g/t gold in the indicated category and an additional 95,000 ounces at an average grade of 1.36 g/t gold in the inferred category (SGS Canada Inc., Bellechasse-Timmins Property Resource Estimate, Southeastern Quebec, August 1, 2012). On July 3, 2020 Delta Resources Limited announced the sale of the project to Yorkton Ventures Limited for $1.7Million.
PLEASE DO YOUR DUE DILIGENCE
Disclaimer: This MI3 Technical Note produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this report.
Mario has over 25 years in financial market and he is passionate about Finance. He worked on the floor of the Montreal Exchange on his ... <Read more about Mario Drolet>