Acquisition of Major Lithium Deposit in North Guayatayoc, Argentina
By admin | Published: October 17th, 2013
Scottsdale, AZ April 29th, 2010 – Delta Mutual, Inc. (OTCBB: DLTZ) is pleased to announce today the acquisition of a major deposit of Lithium and other commercial mining elements.
Lithium- which is considered the prime element in the production of long life batteries for use in electric autos, cell phones, solar energy panels as well as hundreds of consumer and industrial products- has been considered in scarce supply by the industrial world. Delta Mutual, Inc. is pleased to announce that it now controls 100% (through an agreement between the parties) of an area of approximately 140,000 hectares (approx. 350,000 acres) in an area of North Guayatayoc, Argentina.
The results obtained in partial and preliminary surface samples duplicated in two areas and a sample taken from a well dug to 12 meters demonstrate the existence of Boron-Potassium-Lithium (B-K-Li) in the project area and its potential relation to the presence of saline paleolake. It is anticipated that the presence of deep brine aquifers are enriched in these elements. This requires the reinterpretation of seismic lines and the subsequent deep drilling in search of brackish aquifers. One of the key benefits of this project is the existence of a large volume of water reserves and a continuous supply to the basin of elements (B-K-Li).
The first sample was collected in the river Casabindo- which is used for irrigation and human consumption-and gave us the following result: preliminary sample No. 1- 7.08ppm K, 0.56ppm Li; No. 2- 24.41ppm K, 0.15ppm Li. The second sample was collected in the Maiden River: sample No. 3- 4.58ppm K, 0.01ppm Li; and its duplicate yielded 4.58ppm K, 0.01ppm Li. The sample No. 4, taken from a hand-dug well for drinking water supply for human and animal consumption, produced values of 22.54ppm K, 0.15ppm Li and 253g/100mL of B.
Dajin Resources Corp operates a successful Li-K project in an area directly south of Delta’s property. Given the size of Delta’s property and the similarities in geological conditions with Dajin’s project, it can be derived that Delta now controls a world-class prospect for the development of B-K-Li.
About Delta Mutual, Inc.
Delta is continuing its investment in the energy field and is currently in the process of opening oil wells in the Guemes area of Salta in Argentina and has partnered with major oil and gas companies to increase its presence and asset producing properties.
Delta Mutual CEO, Dr. Daniel Peralta, commented, “The Agreement with New Times Group Holdings calls for a four-year operational development plan to be implemented by the majority owner of the Tartagal and Morillo concessions. During their due diligence over the last year, New Times Group Holdings examined the exploration work carried out and the wells drilled in the Tartagal block since 1980. Two structured wells were successful in finding oil last year, which further strengthened their confidence in the acquisition.” from those discussed in this Press Release. These risks are outlined in our SEC fillings.
About Delta Mutual, Inc.
Delta Mutual, Inc. invests in oil and gas properties in South America. It intends to focus its investments in the energy sector, including development of energy producing investments and alternative energy production in Latin America and the United States.
Forward Looking Statements
This press release contains forward –looking statements that involve risks and uncertainties, which may include statements about business strategy and development plans, plans for entering new business, anticipated sources of funds, including proceeds from future operations and plans, objectives, expectations and intentions contained in the Press Release that are not historical facts such as “estimated gross…prospective resources, will be sold, etc.” Because these forward looking statements involve risk and uncertainties, actual results could differ materially from those discussed in the Press Release. These risks are outlined in our SEC filings. Contact Delta Mutual, Inc. Malcolm W. Sherman, Executive Vice President 14362 N. Frank Lloyd Wright Blvd. Suite 1502 Tel: 480-477-5809 Cell: 602-432-3887
Delta Mutual, Inc. Malcolm W. Sherman, Executive Vice President, 14362 N. Frank Lloyd Wright Blvd. Suite 1502 Tel: 480-477-5809 Cell: 602-432-3887