Delta's flagship Mt Ida project comprises 30 tenements in a historical gold mining district that is not generally explored for lithium.

The Chris Ellison-chaired explorer acquired the project in September 2021.

Mt Ida has total resources of 318,000 tonnes grading 13.8 grams per tonne gold for 141,000 ounces.

It also has five separate pegmatite outcrops containing multiple high-grade lithium intervals, near the high-grade gold copper lodes.

No historical lithium exploration had been done before Delta started drilling, soon after acquiring the project.

Delta Lithium managing director James Croser said Mt Ida was shovel-ready.

"The combined lithium and gold resources present a compelling mining project," he said.

"The company is now in an enviable position at Mt Ida to simultaneously progress studies on the lithium concentrate project while also progressing discussion around deriving value from high-grade gold."

Croser said Delta would take advantage of the opportunity to exploit the shallow gold ore overlying the lithium ore.