SCOTTSDALE, Ariz., June 4 /PRNewswire-FirstCall/ -- DELTA MUTUAL,
INC. (OTC Bulletin Board: DLTZ) – An international company
specializing in energy (i.e.: oil, gas and mining) announced today
that the drilling phase of the exploration procedure has been
initiated at the Guemes site in Salta
Province (in Northern
Argentina).
The Secretary of Energy has received the environmental drilling
plan of the KK ST-X2001 Dos Morros well in Guemes oil exploratory
area. Delta's wholly-owned subsidiary, SAHF Argentina, of
Ketsal-Kiewer Oil & Gas JV is currently carrying out this
drilling plan in conjunction with Perterser Corporation, profiles
from Baker-Hughes Inc., products of M-I SWACO (a Schlumberger
Company subsidiary) and Geo Mining Co. The current
exploration schedule for this second quarter calls for the opening
of up to 4 wells in the same concession with the current Oil 66 Rig
and crew. The challenges brought by the climate and geographical
conditions suggest that the most efficient way to drill the wells
is consecutively (with an overlap of the construction and
perforation phases) and in close proximity. The net effect of this
strategy is a high well-opening rate and a low cost-per-well.
Accredited geological engineering firms have been secured to
document the potential and proven reserves for the site upon the
opening of the initial well.
Lithium-Boron
Delta Mutual, Inc. also announces its recent acquisition of
control (51% ownership) of 147,000 hectares in Guayatayoc North in
Jujuy Province, (Northwest
Argentina, by the Bolivian border) which contains proven
lithium deposits as well as boron deposits (currently being
explored). During this exploration, B2O3 (Borate) samples were
taken. Salta Geology University analyzed these samples and the
results came back as follows: .022 gr/lt of B2O3 in the Casabindo
River and .025 gr/lt of B2O3 in the Doncella River.
The anomalistic levels of Boron shown in the samples taken in
addition to the existence of high salt levels at a depth from 300
m. to 800 m. (shown by a 2D seismic report conducted in the area)
conclude the presence of the Sijes Fm in the property. The
Sijes Fm is one of the principal targets for borates exploration
because of its association with ancient salt deposits during the
Miocene period and its unusually high yield of the B-K-Li
(Boron-Potassium-Lithium) combination that is commonly sought
after.
Boron deposits are rare and occurring in arid regions of
Turkey, USA, Argentina, Chile, Russia, China
and Peru. Major uses for
Borate (the initial mineral found in the site) are: in the
manufacturing and production of insulation and textile-grade
fiberglass, borosilicate glass, fire retardants, enamels, ceramic
glazes, frits, laundry bleach (sodium perborate), agricultural
fertilizers and herbicides.
Forward Looking Statement
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, total potential revenue, substantially exceeds, etc.
"Because these forward looking statements involve risk and
uncertainties, actual results could differ materially from those
discussed in this Press Release. These risks are outlined in
our SEC filings.
SOURCE Delta Mutual, Inc.