| Big value gold at a bargain price
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| |  | | Big Value
At A Bargain Price
| | | While the bombed-out gold-stock market created a host of bargains, the new gold bull run has begun to change things.
But one big value play still remains: Delta Resources (DLTA.V; DTARF.OTC) — a tiny, cash-rich company that’s looking at a possible million-ounce-plus, open-pittable deposit.
| | | | Right now, the gold market is offering investors a chance to take advantage of a rare imbalance.
| | You see, while gold has been reaching record highs on a regular basis, gold equities have yet to come along for the ride.
The resulting bargains, particularly in the junior end of the sector, are now ripe for the picking, before generalist investors start to play the gold trend in earnest.
| | One stock that represents an especially good bargain in today’s gold market is Delta Resources (DLTA.V; DTARF.OTC).
| | This is a company looking squarely at a potential million-ounce-plus, open-pittable gold deposit on its Delta-1 project in western Ontario.
And that’s only the start: The company is currently trading at a mere C$15 million market value...boasts over C$5 million in cash...and drills are turning now to grow the gold target even larger.
As gold continues to run higher, investors aren’t likely to overlook this bargain much longer.
Let’s take a closer look while we still can....
| | A Large And Growing Gold Zone
| | Delta Resources’ flagship — the eponymously named Delta-1 project — is remarkable for a number of reasons.
|  | | Click image to enlarge
| | Located 50 kilometers west of the city of Thunder Bay, Ontario, Delta-1 lies on a crustal-scale structure with pervasive alteration and high gold background. Since 2019, Delta has drilled 26,288 meters in 86 holes at Delta-1, including 19,629 meters in 60 holes last year alone.
| | That drilling has, to date, defined a near-surface gold zone spanning 2 kilometers in strike, between 10 and 100 meters in width and from surface to 250 meters vertical depth. It remains open in all directions.
| | There’s no resource estimate for Delta-1 yet. But, as you can see from the graphic above, grades from all that drilling have yielded long intersections above 1 g/t gold...many above 2 g/t...strongly suggesting that the target hosts an open-pittable resource with a potential size well over the key million-ounce threshold.
| | Why So Rich?
| | Open-pit gold deposits often average less than 1 g/t gold. But the Delta-1 resource, when it’s eventually calculated, should stand out for its much richer grades.
It’s a special gold target, and the reason is the multiple pulses of mineralizing events that kept adding to the gold in the system.
|  | | Click image to enlarge
| | The drill core pictured above, with its multiple, crossing veinlets, clearly shows these multiple events that repeatedly deposited gold into the host rock.
With this kind of mineralization and these gold grades, it doesn’t take as much ore to generate a sizeable resource. Yet Delta-1 boasts a lot of this rich rock, and there’s more to come.
| | Just The Start...
| | The conceptual resource at Delta-1 is already quite large. The even better news is that it still has plenty of room to grow, especially to the east, where prior drilling has encountered significant intersections of gold.
| | A 5,000-10,000-meter drill program began in January and is working to expand the 2-kilometer trend to the east, west and at depth at this very moment.
| | In addition, Delta Resources finished an induced polarization survey in December 2023 covering 4.5 kilometers of strike along the structural zone.
Normally, geophysical surveys like this are ignored by the market. But in this case, a survey including the known mineralization could clearly reveal far greater potential for kilometers along strike.
The market will be hard pressed to ignore that.
| | A Wealth Of Available Infrastructure
| | Many near-surface zones of mineralization with 1 g/t material are in remote locations, far from capital-reducing infrastructure.
That’s decidedly not the case with Delta-1.
Consider that the Trans-Canada highway runs directly through the property, as do two power lines. A high-voltage transmission line is planned for nearby.
The project also has rail access and, with Thunder Bay nearby, ready access to a city of 120,000 and its skilled labor force.
| | Simply put, Delta-1 could hardly be in a better position in terms of available infrastructure.
| | | That matters because when it comes time to put pencil to paper on building a mine at Delta-1, this abundance of infrastructure will lower the project cost and the barriers to financing an operation there.
| | Undervalued…For Now
| | With gold surging to and past record highs, investor attention will soon turn to the best junior mining bargains. And it’s hard to imagine a better one than Delta Resources right now.
As mentioned, the company’s current market cap is just C$15 million.
For that bargain valuation, investors get a company with C$5 million in cash and a project with a large and growing zone of near-surface gold.
| | How big is the resource? There’s nothing calculated yet, but at 2 kilometers long by 250 meters deep...and with these grades...it’s clear that this is a gold endowment that will make the market stand up and take notice once an official resource estimate is reported.
| | That said, the market is just beginning to catch wind of how remarkably undervalued this company is at this moment.
The window is closing, and the time to take a hard look at Delta Resources is now.
| | CLICK HERE
To Learn More about Delta Resources Ltd.
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