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DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") is pleased to announce that drilling of the fourteenth diamond drill hole, on the Aurora porphyry copper-molybdenum project in Peru, has commenced.
Aurora Project (Porphyry Cu-Mo Target)
Aurora is a porphyry copper-molybdenum project in Southern Peru with the potential to host a significant copper-molybdenum mineralized system (Figures 1, 2, 3, 4 and 5). Drilling of thirteen diamond drillholes was completed in December 2023 and results have been released for all thirteen holes (see DLP news release dated January 04, 2024). A summary of results for the 2022-23 drilling are highlighted in Table 1 below.
Continued drilling along extensions of known copper-molybdenum mineralization to the northeast and southeast will be done during 2024 (Figures 2 and 3). Diamond drillhole A24-014 commenced on April 24 on an azimuth of 050 degrees with an inclination of -70 degrees. A23-014 will be drilled approximately 270m to the northeast of A23-013 to a planned depth of 1000m.
Mr. Gendall, President and CEO commented: "A23-014 will be drilled on the NE limit of our 2023 drilling to expand copper and molybdenum mineralization into the NE area. It was to the NE in late 2023 that we encountered veined, brecciated rock samples on surface which reported anomalous copper and molybdenum mineralization in assay results received. We are extremely excited with the initiation of this 2024 drill program with a planned 10,000m of drilling and look forward to results in early June."
Table 1. Summary of significant drill results for diamond drillholes A22-01 to A23-013. All grades are length-weighted averages of samples within the interval reported.
| Hole | From | To | Interval1 | Description | Cu (total) | Mo | Ag | Cueq* |
| ID | m | m | m | % | % | g/t | % | |
| A22-001 | 22.45 | 145.80 | 123.35 | Oxidized/Mixed | 0.49 | 0.0036 | 4.20 | 0.51 |
| Includes | 100.35 | 145.80 | 45.45 | Enriched | 0.64 | 0.0017 | 3.40 | 0.65 |
| 100.35 | 124.30 | 23.95 | Enriched | 0.87 | 0.0024 | 3.43 | 0.88 | |
| 108.65 | 124.30 | 15.65 | Enriched | 1.09 | 0.0033 | 3.00 | 1.11 | |
| A22-002 | 208.00 | 422.40 | 214.40 | Oxidized/Mixed/Primary | 0.35 | 0.0114 | 3.95 | 0.41 |
| Includes | 244.00 | 296.00 | 52.00 | Primary | 0.52 | 0.0131 | 4.53 | 0.59 |
| A22-003 | 38.00 | 702.30 | 664.30 | Partially leached /Mixed/Enriched/Primary | 0.33 | 0.0483 | 3.23 | 0.58 |
| Includes | 132.00 | 350.00 | 218.00 | Mixed sulphides/Enrichment | 0.69 | 0.0162 | 5.65 | 0.77 |
| 206.00 | 350.00 | 144.00 | Enriched | 0.75 | 0.0097 | 5.87 | 0.80 | |
| 258.00 | 350.00 | 92.00 | Enriched | 0.83 | 0.0071 | 6.81 | 0.87 | |
| 522.00 | 702.30 | 180.30 | Primary (Moly rich) | 0.07 | 0.1284 | 0.73 | 0.74 | |
| A23-004 | 0.00 | 700.90 | 700.90 | Leached/Mixed/Enriched/ Primary | 0.18 | 0.142 | 2.47 | 0.92 |
| Includes | 110.90 | 333.00 | 222.10 | Mixed/Enriched/Primary | 0.46 | 0.056 | 5.88 | 0.75 |
| 110.90 | 264.00 | 153.10 | Mixed/Enriched | 0.53 | 0.058 | 7.07 | 0.83 | |
| 421.00 | 502.00 | 81.00 | Primary (Molybdenum rich) | 0.12 | 0.152 | 0.84 | 0.91 | |
| 502.00 | 700.90 | 198.90 | Primary (Molybdenum rich) | 0.02 | 0.273 | 0.17 | 1.44 | |
| A23-005 | 130.00 | 188.00 | 58.00 | Mixed/Enriched | 0.43 | 0.054 | 3.38 | 0.71 |
| 188.00 | 302.00 | 114.00 | Primary | 0.14 | 0.076 | 1.38 | 0.54 | |
| 302.00 | 472.00 | 170.00 | Primary (Molybdenum rich) | 0.1 | 0.11 | 1.05 | 0.67 | |
| 472.00 | 693.40 | 221.40 | Primary (Molybdenum rich) | 0.03 | 0.259 | 0.95 | 1.38 | |
| A23-006 | 91.00 | 708.50 | 617.50 | Mixed/Enriched/Primary | 0.17 | 0.148 | 1.82 | 0.94 |
| Includes | 91.00 | 127.00 | 36.00 | Mixed/Enriched | 0.62 | 0.031 | 9.10 | 0.78 |
| 321.00 | 708.55 | 387.55 | Primary (Molybdenum rich) | 0.07 | 0.205 | 0.74 | 1.14 | |
| A23-007 | 0.00 | 708.25 | 708.25 | Partially Leached/Primary/Hornfels | 0.25 | 0.0137 | 3.07 | 0.32 |
| Includes | 206.00 | 406.00 | 200.00 | Primary/Hornfels | 0.37 | 0.003 | 3.83 | 0.39 |
| 206.00 | 254.00 | 48.00 | Primary/Hornfels | 0.57 | 0.002 | 5.33 | 0.58 | |
| 272.00 | 306.00 | 34.00 | Primary/Hornfels | 0.48 | 0.003 | 6.33 | 0.50 | |
| A23-008 | 3.10 | 703.65 | 700.55 | Primary/Hornfels+Porphyry | 0.10 | 0.0852 | 1.18 | 0.54 |
| Includes | 402.00 | 703.65 | 301.65 | Primary/Porphyry | 0.03 | 0.1548 | 0.26 | 0.84 |
| A23-009 | 0.40 | 790.55 | 790.15 | Primary/Hornfels+Breccia+ Porphyry | 0.27 | 0.0095 | 2.39 | 0.32 |
| Includes | 303.00 | 617.00 | 314.00 | Primary/Hornfels+Breccia+ Porphyry | 0.37 | 0.0144 | 2.86 | 0.45 |
| 561.00 | 617.00 | 56.00 | Primary/Porphyry + Breccia | 0.52 | 0.0144 | 3.46 | 0.60 | |
| A23-010 | 0 | 1002.55 | 1002.55 | Leached/Mixed/Enriched/ Primary | 0.20 | 0.0838 | 2.19 | 0.66 |
| Includes | 190.00 | 218.00 | 28.00 | Mixed/Enriched | 0.86 | 0.0015 | 8.41 | 0.94 |
| 190.00 | 315.00 | 125.00 | Mixed/Enriched/Primary | 0.43 | 0.0082 | 4.65 | 0.51 | |
| 543.00 | 625.00 | 82.00 | Primary - Breccia zone | 0.37 | 0.0618 | 3.51 | 0.72 | |
| 543.00 | 1002.55 | 459.55 | Primary | 0.09 | 0.1754 | 0.9 | 1.01 | |
| A23-011 | 3.10 | 1081.70 | 1078.60 | Leached+Mixed & Primary Mineralization/Hornfels+ Porphyry | 0.16 | 0.0606 | 1.69 | 0.49 |
| Includes | 111.00 | 1081.70 | 970.70 | Mixed & Primary Mineralization/Hornfels+ Porphyry | 0.17 | 0.0667 | 1.81 | 0.53 |
| Includes | 111.00 | 524.00 | 413.00 | Mixed & Primary Mineralization /Hornfels+Porphyry | 0.28 | 0.0112 | 2.40 | 0.36 |
| Includes | 183.00 | 215.00 | 32.00 | Mixed & Primary Mineralization/Hornfels+ Porphyry | 0.44 | 0.0125 | 3.69 | 0.54 |
| 524.00 | 1081.70 | 557.70 | Primary Mineralization/Porphyry | 0.09 | 0.1078 | 1.38 | 0.66 | |
| Includes | 716.00 | 1081.70 | 365.70 | Primary Mineralization/Porphyry | 0.07 | 0.1403 | 0.66 | 0.81 |
| A23-012 | 0.00 | 5.65 | 5.65 | Overburden (not sampled) | - | - | - | - |
| 5.65 | 887.60 | 881.95 | Primary Mineralization/Hornfels + Porphyry | 0.18 | 0.0514 | 1.68 | 0.46 | |
| Includes | 5.65 | 22.00 | 16.35 | Primary Mineralization + Enriched/Breccia | 0.49 | 0.0499 | 6.53 | 0.80 |
| Includes | 5.65 | 192.00 | 186.35 | Primary Mineralization/Hornfels + Porphyry | 0.15 | 0.0643 | 1.74 | 0.50 |
| Includes | 406.00 | 544.00 | 138.00 | Primary Mineralization/Porphyry | 0.45 | 0.0390 | 3.08 | 0.68 |
| Includes | 600.00 | 887.60 | 287.60 | Primary Mineralization/Porphyry | 0.07 | 0.0962 | 0.93 | 0.58 |
| Includes | 692.00 | 887.60 | 195.60 | Primary Mineralization/Porphyry | 0.06 | 0.1083 | 0.37 | 0.62 |
| A23-013 | 0.00 | 208.00 | 208.00 | Leached and partially leached porphyry | 0.11 | 0.0038 | 1.46 | 0.14 |
| 208.00 | 981.20 | 773.20 | Leached and partially leached/weak enrichment/ primary mineralization in porphyry and breccia | 0.17 | 0.1221 | 1.91 | 0.82 | |
| Includes | 208.00 | 530.00 | 322.00 | Weak copper enrichment/Primary mineralization in porphyry | 0.34 | 0.0278 | 3.43 | 0.51 |
| Includes | 208.00 | 360.00 | 152.00 | Weak copper enrichment/Primary mineralization in porphyry | 0.38 | 0.0056 | 4.13 | 0.44 |
| 360.00 | 530.00 | 170.00 | Primary mineralization in breccia and porphyry | 0.30 | 0.0490 | 2.78 | 0.57 | |
| 530.00 | 981.20 | 451.20 | Primary mineralization in Porphyry | 0.05 | 0.1883 | 0.72 | 1.04 |
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo, Cu and Ag values are uncut, and core recovery is assumed to be 100% for the entire drilled lengths of A23-01 to A23-013. The project is at an early stage of exploration and conceptual recoveries of Cu 85%, Mo 82%, and Ag 75% are assigned to the CuEq calculations. Conversion of metals to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal are added to the copper grade. The formula for this is: CuEq % = Cu% + (Mo% * (Mo recovery / Cu recovery) * (Mo $ per lb / Cu $ per lb) + (Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623)).
*Copper equivalent calculations use metal prices of Cu - US$3.34/lb, Mo - US$18/lb and Ag - US$21.87/oz.
1Intervals are downhole drilled core lengths. Drilling data to date is insufficient to determine true width of mineralization. Mo, Cu and Ag values are uncut.
Quality Control and Quality Assurance
DLP Resources Peru S.A.C, a subsidiary of DLP Resources Inc., supervises drilling and carries out sampling of HTW, NTW and BTW core. Logging and sampling are completed at a secured Company facility situated on the project site. Sample intervals are nominally 1.5 to 3m in length. Drill core is cut in half using a rotary diamond blade saw and samples are sealed on site before transportation to the ALS Peru S.A.C. sample preparation facility in Arequipa by Company vehicles and staff. Prepared samples are sent to Lima by ALS Peru S.A.C. for analysis. ALS Peru S.A.C. is an independent laboratory. Samples are analyzed for 48 elements using a four-acid digestion and ICP-MS analysis (ME-MS61). In addition, sequential copper analyses are done where secondary copper mineralization is observed and reports, soluble copper using sulphuric acid leach, soluble copper in cyanide leach, residual copper and total copper. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures.
DLP Resources independently monitors quality control and quality assurance ("QA/QC") through a program that includes the insertion of blind certified reference materials (standards), blanks and pulp duplicate samples. The company is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported from all thirteen drillholes.
Aurora Project History
Aurora Project is an advanced stage porphyry copper-molybdenum exploration project in the Province of Calca, SE Peru (Figure 1). The Aurora Project was previously permitted for drilling in 2015 but was never executed. Thirteen historical drillholes, drilled in 2001 and 2005 totaling 3,900m were drilled over an area of approximately 1000m by 800m, cut significant intervals of copper and molybdenum mineralization. From logging of the only three remaining holes DDA-01, DDA-3A and DDA-3 and data now available, it appears that only three of the thirteen holes tested the enriched copper zone and only one hole drilled deep enough to test the primary copper and molybdenum zone (see DLP Resources Inc. news release of May 18, 2021).
Salient historic drillhole data of the Aurora Project are:
• 190m @ 0.57% Cu, 0.008% Mo in DDA-1 with a high-grade intercept of 20m @ 1.01% Cu related to a supergene enrichment zone of secondary chalcocite;
• 142m @ 0.5% Cu, 0.004% Mo in DDA-3;
• 71.7m @ 0.7% Cu, 0.007% Mo in DDA-3A (see historical Focus Ventures Ltd. news release July 11, 2012); and
• One of the historical holes ABC-6 drilled on the edge of the system intersected 78m @ 0.45% Cu and 0.107% Mo (Figure 2).
A review of the historical drilling indicates that the majority of the thirteen holes were drilled in the leached and partially leached zones of the porphyry system. Ten of the thirteen holes never fully tested the oxide and secondary enrichment zone and/or the primary copper zone at depth encountered in DDA-01. Copper-molybdenum mineralization is hosted by quartz-feldspar porphyries intruded into slates-hornfels and pelitic sandstones belonging to the Ordovician (439 - 463 ma) Sandia Formation.
Figure 1: Aurora Location.
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Figure 2: Aurora Project - Plan view showing drilling by DLP in 2022-2023 with A23-013 and current drillhole A24-014.
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Figure 3: Aurora Project - Magnetics-analytic signal plan with downhole values for copper (%) shown on drillholes with molybdenum (ppm) shown as bar graphs to right of drillholes. A23-014 drillhole shown with projection in yellow.
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Figure 4: Aurora Project - Grab samples from NE Zone
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Figure 5: Aurora Project - Grab samples from NE Zone. Copper-oxides and sulphides of pyrite and chalcopyrite on fractures and in veinlets of hornfels and siltstones.
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Qualified Person
David L. Pighin, consulting geologist and co-founder of DLP Resources, is the qualified person of the Company as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical contents of this news release.
About DLP Resources Inc.
DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia and Peru, exploring for Base Metals and Cobalt. DLP is listed on the TSX-V, trading symbol DLP and on the OTCQB, trading symbol DLPRF. Please refer to our web site www.dlpresourcesinc.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
DLP Resources Inc.
Ian Gendall, CEO & President
Jim Stypula, Executive Chairman
Robin Sudo, Office & Land Manager/Corporate Secretary
Maxwell Reinhart, Investor Relations
Telephone: 250-426-7808
Email: iangendall@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email:robinsudo@dlpresourcesinc.com
Email: maxreinhart@dlpresourcesinc.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to drilling on the Aurora Project in Peru.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things drill results expected from the Aurora Project in Peru.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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