DLP Reports Results from Its Initial Metallurgical Study on Its Aurora Property, Peru

Rhea-AI Summary

DLP Resources has released promising results from its initial metallurgical study on the Aurora Project in southern Peru. Conducted by Plenge in Lima, the study focused on three composite samples (M-1, M-2, M-3) representing different mineralized zones.

Key findings include:

• High recoveries of copper (95.8%), molybdenum (86.4%), and silver (89.3%) in rougher concentrate.
• Best conditions for recovery were achieved with a primary grind of P80-133 microns and specific reagents and pH levels.
• Successful copper-molybdenum separation for composites M-1 and M-3, achieving commercial-grade molybdenum concentrate.
• No deleterious elements found, suggesting favorable project economics.

The study's results bode well for the project's economic viability, particularly given current market prices for molybdenum ($30/lb), copper ($4.20/lb), and silver ($29/oz).

Positive

• High recoveries of copper (95.8%), molybdenum (86.4%), and silver (89.3%).
• Successful copper-molybdenum separation achieved commercial-grade concentrate.
• No deleterious elements found, enhancing project viability.

Negative

• Lower copper recovery for composite M-3 due to high molybdenum grade.

High recoveries achieved (95.8% Cu, 86.4% Mo, 89.3% Ag) to saleable concentrates.

Cranbrook, British Columbia--(Newsfile Corp. - August 29, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") is pleased to report results from the initial metallurgical scoping study on its Aurora Project in southern Peru. The Company commissioned C.H. Plenge & Cia S.A. ("Plenge") in Lima, Peru to complete test work programs on three composites taken from the partially leached (M-1), copper enriched/mixed (M-2) and primary Mo-rich (M-3) zones. The test work reported:

1. Head Assays.
   
   
2. Mineralogy.
   
   
3. Recovery of copper, silver, and molybdenum by flotation.
   
   
4. Copper-Molybdenum separation by flotation.

Highlights are listed below, and detailed results highlighted in Tables 1-11.

Ian Gendall, President & CEO, commented: "Aurora has simple metallurgy that returns high recoveries of critical minerals, copper and molybdenum from standard flotation processes into high-grade concentrates free of deleterious elements. This first phase of metallurgical test work has confirmed high recoveries of copper (95.8%), molybdenum (86.4%) and silver (89.3%) in the rougher concentrate from the composite of partially leached, enriched/mixed and primary mineralized zones. These excellent recoveries for copper, molybdenum and silver at a time when molybdenum prices are at $30/lb, copper at $4.20/lb and silver at $29/oz, bode well for the economics of the project moving forward."

Highlights

1. The major copper mineral is chalcopyrite followed by chalcocite while molybdenum is molybdenite. The main gangue is quartz followed by orthoclase and muscovite. Pyrite is the main sulphide gangue.
2. High recoveries for copper ("Cu"), molybdenum ("Mo") and silver ("Ag") in the rougher concentrate from the composite created from the partially leached (M1), copper enriched (M2) and primary Mo-rich (M3) zones were 95.8%, 86.4% and 89.3%, respectively. The primary grind was 150 microns and concentrate regrind of 20 to 44 microns.
3. The best conditions for maximum molybdenum, copper and silver recovery were determined and verified by Run 32-C with pH of 9.5, a primary grind of P80-133 microns using collectors consisting of - Xanthate SIBX (Z-14) 27 g/ t, A-208 11 g/ t, F. Oil 10g/ t, frother MIBC 17 g/t and a flotation time of 12 min. This gave recoveries of Ag-71.6%, Cu-97.4% and Mo-92.4%.
4. Copper molybdenum separation was successfully tested on a copper molybdenum concentrate obtained from a large, locked test .
5. A commercial grade molybdenum concentrate was floated for composite M-1 and assayed 52.6% molybdenum at 61% recovery. Similarly, for composite M-3 the concentrate assayed 49.7% molybdenum at 84% recovery from the feed. In both cases NaSH was used as depressant and the separation stages limited to four because of mass restrictions. Copper molybdenum separation was not tested for composite M-2. Additional testing for M-2 extending the cleaner flotation time to accommodate the slow floating molybdenum was recommended by Plenge
6. The projected metallurgical balances from lock cycle testing ("LCT") for M-1 and M-2 were as follows:
   1. Composite M-1 (partial leached zone) gave a bulk concentrate assaying 153g/ t silver,17.7% copper and 3.8% molybdenum with recoveries of 53.3%, 81.8% and 62.4%, respectively.
   2. Composite M-3 (Primary Mo-rich) the bulk concentrate assayed 57.7 g/ t silver, 7.5 % copper and 28% molybdenum with recoveries of 61%, 85.6% and 89.8%, respectively. The low copper grade is due to the high molybdenum grade and recovery.
7. The average recovery to the bulk concentrate from the composite consisting of all three test composites, M-1 (partial leached zone), M-2 (enriched/mixed copper zone) and M-3 (primary Mo-rich zone) for silver, copper and molybdenum were 60.8%, 83.2% and 67.6%, respectively. The concentrate grades range from 17.7% to 29.5% copper and molybdenum from 1.5% to 28.0%.
8. For the master composite (M-1+M-2+M-3) roughly 70% of the value is represented by molybdenum, 27% by copper and 3% by silver therefore it may be considered a molybdenum ore.
9. No significant penalty or deleterious elements were found for both copper and molybdenum concentrate.
10. Further improvements in grade and recovery are foreseeable with further testing.

Metallurgical Scoping Study Summary

The metallurgical test work program at C.H. Plenge & Cia S.A. ("Plenge") in Lima, Peru included studies on three composite samples sent to the Plenge Laboratory Lima offices by DLP on October 25, 2023. The three composite samples were taken from ¼ diamond drill core and included, M-1 (~161kg), M-2 (~155kg) and M-3 (~149kg). These composite samples were taken from 7 drillholes totaling ~465kg and represented the following intervals:

1. M-1: Partial leached zone in mineralized porphyry from 24 to 121m,
   
   
2. M-2: Cu enriched/mixed zone in mineralized porphyry between 111 and 363m and,
   
   
3. M-3: Primary Mo-rich zone in mineralized porphyry from 478 to 988m.

The samples were selected from the Aurora porphyry copper-molybdenum-silver deposit to represent the mineralization, metal grades and lithology type for the initial metallurgical test work.

The test works main objective, was to obtain the following information on the three composite samples M-1, M-2 and M-3 and the master composite of all three.

1. Head Assays.

2. Mineralogy.

3. Recovery of Copper, Silver, and Molybdenum by flotation.

4. Copper Molybdenum Separation by flotation.

Sample Selection

The metallurgical samples were taken from seven of the thirteen drill holes drilled in 2013 and are listed in Tables 1 and 2 below. The samples were selected to represent the mineralization, metal grades and lithology type for the initial metallurgical test work.

Table 1. Sample intervals for composites M-1 (Partially leached mineralized porphyry) and M-2 (enriched/mixed mineralized porphyry).

M-1 - Partially Leached (Mineralized Porphyry)					M-2 - Enriched/Mixed (Mineralized Porphyry)
SAMPLE ID	Hole ID	From (m)	To (m)	Interval (m)	SAMPLE ID	Hole ID	From (m)	To (m)	Interval (m)
Y330866	A23-004	28.00	30.00	2.00	Y330909	A23-004	110.90	113.00	2.10
Y330869	A23-004	34.00	36.00	2.00	Y330912	A23-004	115.00	117.50	2.50
Y330870	A23-004	36.00	38.00	2.00	Y330924	A23-004	140.00	142.00	2.00
Y330873	A23-004	40.00	42.00	2.00	Y330927	A23-004	146.00	148.00	2.00
Y330875	A23-004	44.00	46.00	2.00	Y330933	A23-004	156.00	158.00	2.00
Y330877	A23-004	48.00	50.00	2.00	Y330934	A23-004	158.00	160.00	2.00
Y330878	A23-004	50.00	52.00	2.00	Y330936	A23-004	162.00	164.00	2.00
Y330879	A23-004	52.00	54.00	2.00	Y330937	A23-004	164.00	166.00	2.00
Y330880	A23-004	54.00	56.00	2.00	Y330961	A23-004	210.00	212.00	2.00
Y330884	A23-004	62.00	64.00	2.00	Y330967	A23-004	222.00	224.00	2.00
Y330887	A23-004	68.00	70.00	2.00	Y330969	A23-004	226.00	228.00	2.00
Y330889	A23-004	72.00	74.00	2.00	Y330973	A23-004	232.00	234.00	2.00
Y330892	A23-004	76.00	78.00	2.00	Y330974	A23-004	234.00	236.00	2.00
Y330896	A23-004	84.00	86.00	2.00	Y330978	A23-004	242.00	244.00	2.00
Y330900	A23-004	92.00	94.00	2.00	Y330979	A23-004	244.00	246.00	2.00
Y330907	A23-004	106.00	108.50	2.50	Y330980	A23-004	246.00	248.00	2.00
Y331230	A23-005	24.00	26.00	2.00	Y330981	A23-004	248.00	250.00	2.00
Y331232	A23-005	28.00	30.00	2.00	Y330985	A23-004	256.00	258.00	2.00
Y331234	A23-005	32.00	34.00	2.00	Y330986	A23-004	258.00	260.00	2.00
Y331235	A23-005	34.00	36.00	2.00	Y330987	A23-004	260.00	262.00	2.00
Y331238	A23-005	38.00	40.00	2.00	Y331294	A23-005	146.00	148.00	2.00
Y331239	A23-005	40.00	42.00	2.00	Y331295	A23-005	148.00	150.00	2.00
Y331243	A23-005	48.00	50.00	2.00	Y331296	A23-005	150.00	152.00	2.00
Y331250	A23-005	62.00	64.00	2.00	Y331301	A23-005	158.00	160.00	2.00
Table 1 cont. M-1 - Partially Leached (Mineralized Porphyry)					Table 1 cont. M-2 - Enriched/Mixed (Mineralized Porphyry)
SAMPLE ID	Hole ID	From (m)	To (m)	Interval (m)	SAMPLE ID	Hole ID	From (m)	To (m)	Interval (m)
Y331251	A23-005	64.00	66.00	2.00	Y331302	A23-005	160.00	162.00	2.00
Y331252	A23-005	66.00	68.00	2.00	Y331303	A23-005	162.00	164.00	2.00
Y331269	A23-005	98.00	100.00	2.00	Y331304	A23-005	164.00	166.00	2.00
Y331270	A23-005	100.00	102.00	2.00	Y331313	A23-005	182.00	184.00	2.00
Y331274	A23-005	108.00	110.00	2.00	Y331618	A23-006	91.00	93.00	2.00
Y331593	A23-006	38.00	40.00	2.00	Y331623	A23-006	99.00	101.00	2.00
Y331595	A23-006	42.00	45.00	3.00	Y331636	A23-006	125.00	127.00	2.00
Y331596	A23-006	45.00	47.00	2.00	Y331639	A23-006	131.00	133.00	2.00
Y331597	A23-006	47.00	49.00	2.00	Y331671	A23-006	191.00	193.00	2.00
Y331598	A23-006	49.00	51.00	2.00	Y331675	A23-006	199.00	201.00	2.00
Y331603	A23-006	58.00	60.00	2.00	Y331693	A23-006	231.00	233.00	2.00
Y331607	A23-006	69.00	71.00	2.00	Y332488	A23-008	343.00	345.00	2.00
Y331610	A23-006	75.00	77.00	2.00	Y332492	A23-008	351.00	353.00	2.00
Y331611	A23-006	77.00	79.00	2.00	Y332846	A23-009	325.00	327.00	2.00
Y331621	A23-006	95.00	97.00	2.00
Y331633	A23-006	119.00	121.00	2.00
Total Metres				81.50	Total Metres				76.60

 

Table 2. Sample intervals for composite M3 (primary - hypogene mineralized porphyry).

M3 - Primary/Hypogene (Mineralized Porphyry)
SAMPLE ID	Hole ID	From (m)	To (m)	Interval (m)
Y331111	A23-004	497.00	499.00	2.00
Y331112	A23-004	499.00	502.00	3.00
Y331117	A23-004	510.00	512.00	2.00
Y331118	A23-004	512.00	514.00	2.00
Y331123	A23-004	520.00	522.00	2.00
Y331468	A23-005	478.00	480.00	2.00
Y331469	A23-005	480.00	482.00	2.00
Y331470	A23-005	482.00	484.00	2.00
Y331477	A23-005	496.00	498.00	2.00
Y331478	A23-005	498.00	500.00	2.00
Y331830	A23-006	500.00	502.00	2.00
Y331833	A23-006	506.00	508.00	2.00
Y331836	A23-006	512.00	514.00	2.00
Y331848	A23-006	534.00	536.00	2.00
Table 2 cont. M3 - Primary/Hypogene (Mineralized Porphyry)
SAMPLE ID	Hole ID	From (m)	To (m)	Interval (m)
Y331849	A23-006	536.00	538.00	2.00
Y332559	A23-008	480.00	482.00	2.00
Y332561	A23-008	482.00	484.00	2.00
Y332609	A23-008	574.00	576.00	2.00
Y332612	A23-008	580.00	582.00	2.00
Y332636	A23-008	626.00	628.00	2.00
Y332649	A23-008	650.00	652.00	2.00
Y332672	A23-008	694.00	696.00	2.00
Y333505	A23-010	789.00	791.00	2.00
Y333506	A23-010	791.00	793.00	2.00
Y333508	A23-010	795.00	797.00	2.00
Y333509	A23-010	797.00	799.00	2.00
Y333513	A23-010	803.00	805.00	2.00
Y333514	A23-010	805.00	807.00	2.00
Y333515	A23-010	807.00	809.00	2.00
Y333517	A23-010	811.00	813.00	2.00
Y333520	A23-010	817.00	819.00	2.00
Y333524	A23-010	825.00	827.50	2.50
Y333528	A23-010	835.00	837.50	2.50
Y333596	A23-010	964.00	966.00	2.00
Y333597	A23-010	966.00	968.00	2.00
Y333602	A23-010	976.00	978.00	2.00
Y333605	A23-010	982.00	984.00	2.00
Y333607	A23-010	986.00	988.00	2.00
Y333994	A23-011	726.00	728.00	2.00
Y334008	A23-011	752.00	754.00	2.00
Y334017	A23-011	768.00	770.00	2.00
Y334025	A23-011	784.00	786.00	2.00
Y334035	A23-011	804.00	806.00	2.00
Y334048	A23-011	828.00	830.00	2.00
Y334072	A23-011	874.00	876.00	2.00
Y334102	A23-011	930.00	932.00	2.00
Y334114	A23-011	954.00	956.00	2.00
Total Metres				102.00

 

Table 3: Diamond drill holes used for the Initial Metallurgical Test Work.

Hole	Easting	Northing	Elevation	Length	Azimuth	Inclination
ID	m	m	m	m	Degrees	Degrees
A23-004	189,793	8,566,268	2638	700.90	140	-70
A23-005	189,740	8,566,258	2628	693.4	140	-70
A23-006	189,612	8,566,230	2628	708.55	140	-70
A23-008	189,631	8,566,045	2722	703.65	120	-70
A23-009	190,135	8,565,722	2966	790.55	340	-70
A23-010	190,079	8,565,708	2965	1002.55	340	-70
A23-011	189,970	8,565,440	2760	1081.70	025	-70

 

Notes to Table 3: The coordinates are in WGS84 and 19S Datum.

Figure 1. DLP Project areas in Peru with Aurora Project Shown.

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Figure 2. Metallurgical drill holes shown with grey circle with red outline.

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The head grades for each composite M1, M2 and M3 and the combined master composite are shown in Table 4 below.

Table 4. Head Grade of Composites M-1-Partially leached, M-2-Enriched/Mixed and M-3-Primary Mo-rich and Master Composite.

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The three composites represent copper molybdenum ore whose average head grade is silver 3.5 g/t, copper 0.30% and molybdenum 0.10%.

Table 5. ICP-OE Multielement (4-acid partial digestion) on Composite Samples M1, M2, M3 and Master Composite

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For the master composite, roughly 70% of the value is represented by molybdenum, 27% by copper and 3% by silver therefore it may be considered a molybdenum ore.

Rougher Flotation Testing

Master Composite (M.C)

A Master Composite, M.C. , was prepared by blending equal parts of each of the three composites, M-1, M-2, and M-3.

Rougher reagent collection and dosage was explored by seven flotation kinetics tests. The tests were run at fine grind of P80=106 μ to reduce mineral liberation effects. All tests were run at pH=9.5 using 10 g/ t Fuel Oil as molybdenum collector.

A set of 31 kinetic flotation rougher tests were per formed to optimize rougher flotation using design of experiments (D.O.E).

Best conditions for rougher flotation were test 32C at:

• pH=9.5
  
  
• Primary Grind P80= 133 μm

Collectors Xanthate SIBX (Z-14) 27 g/ t

A-208 11 g/ t

F. Oi l 10g/ t

Frother MIBC 17 g/ t

Flotation Time of 12 min

Table 6. Design of Experiment (DOE) Optimized Rougher Conditions

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The average rougher concentrate recovery for silver, copper and molybdenum were 89.3%, 95.8% and 86.4%, respectively (Table 7). The average mass pull was 6.3%. The flotation circuit and reagents used is typically encountered in the copper molybdenum mining industry. The primary grind was 150 microns and concentrate regrind of 20 to 44 microns.

Note: - Mass Pull = flowrate of solids reporting to the concentrate.

Copper molybdenum separation was successfully tested on a copper molybdenum concentrate obtained from a large, locked test . The copper bulk concentrate and recoveries are slightly different due to the lower bulk concentrate grade.

Table 7. Rougher Concentrate Metallurgical Balance Locked Cycle Test (LCT)

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Notes to Tables 6 and 7

- Recoveries=Distribution (%), percentage of metal reporting to each concentrate relative to the metal content of the feed to the concentrator.

Locked Cycle Test (LCT) Flotation Tests Concentrate

LCT Conditions

• Grind P80 = 150 μm
  
  
• Regrind P80 = 44 μm
  
  
• %Solids 33%
  
  
• Reagent Rgh. PAX 8 g/ t
  
  
• SIBX 12 g/ t
  
  
• AP 208 11 g/ t
  
  
• F.O. 10 g/ t
  
  
• pH Rougher 9.5
  
  
• Cleaners 10.5
  
  
• Flotation Time Rougher 8 min
  
  
• 1st Clean 6 min
  
  
• Clean Scavenger 4 min
  
  
• 2nd Clean 4 min
  
  
• 3rd Clean 4 min.

The projected metallurgical balances from lock cycle testing for Composite M-1 (partially leached zone) gave a bulk concentrate assaying 153 g/ t silver, 17.7% copper and 3.8% molybdenum with recoveries of 53.3%, 81.8% and 62.4%, respectively.

For Composite M-3 the bulk concentrate assayed 57.7 g/ t silver, 7.5 % copper and 28% molybdenum with recoveries of 61%, 85.6% and 89.8%, respectively. The low copper grade is due to the high molybdenum grade and recovery.

The LCT for composite M-2 stabilized for copper however not for molybdenum therefore the projected metallurgical balance is not posted. The values reported are based on a six-cycle lock flotation test but assume that all intermediate products reported to tails and are therefore on the conservative side with some loss of copper recovery. The bulk concentrate assayed 234.2 g/t silver, 29.5% copper and 1.52% molybdenum with recoveries of 68%, 82.1% and 50.5%, respectively. The concentrate mass pull was 1.74% (Table 8).

Table 8. Combined Metallurgical Balance M-2

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Notes: Copper reached stability, however molybdenum did not, building up in the cleaner circuit. It is possible that the cleaner flotation times were too short for the slow floating molybdenum preventing it from reaching stability. No molybdenum separation was per formed for M-2 because the locked test didn't reach stability.

Recoveries=Distribution (%), percentage of metal reporting to each concentrate relative to the metal content of the feed to the concentrator.

• Conc Cu-Mo : Cu-Mo concentrate
• Midl 2, 3 + Cl Scv Conc : Middlings 2 and 3 plus cleaner scavenger concentrate
• Cl Scv Tail : Cleaner scavenger tail
• Rgh Conc : Rougher concentrate
• Rgh Tails : Rougher Tails

The average recovery to the bulk concentrate for silver, copper and molybdenum were 60.8%, 83.2% and 67.6%, respectively. The concentrate grades range from 17.7% to 29.5% copper and molybdenum from 1.5% to 28.0%. The average concentrate mass pull is 1.11%, equivalent to a Recovery of 90.09%.

Copper Molybdenum Separation Open Circuit

A commercial grade molybdenum concentrate was floated for composite M-1 and assayed 52.6% molybdenum at 61% recovery. Similarly, for composite M-3 the concentrate assayed 49.7% molybdenum at 84% recovery from the feed. In both cases NaSH was used as depressant and the separation stages limited to four because of mass restrictions. Copper molybdenum separation was not tested for composite M-2.

Table 9. Copper Molybdenum Separation Open Circuit Test Results.

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Note: Recoveries=Distribution (%), percentage of metal reporting to each concentrate relative to the metal content of the feed to the concentrator.

No penalty elements were found for both copper and molybdenum concentrate and further improvements in grade and recovery are foreseeable with further testing.

Table 10. Concentrations of Deleterious Elements / Penalty Elements in Concentrate

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Mineralogy

Quantitative mineralogy using AMICS by Dr . Paul Miranda and XRD bulk mineralogy indicates that the ore major phases are quartz, orthoclase, and muscovite. The major copper minerals are chalcopyrite and chalcocite with minor quantities of bornite (M1 and M2), enargite (M-2) and chrysocolla (M-3). Chalcopyrite mineral association was determined. According to the data, M-1 is associated with bornite, orthoclase, chalcocite, and quartz. For M-2, chalcopyrite is associated with bornite, quartz, and chalcocite. For M-3, orthoclase, quartz, and muscovite are the main associated minerals with minor pyrite association. Molybdenite mineral association was determined.

According to the data, M-1, M-2, and M-3 are associated with orthoclase and quartz with minor amounts of muscovite.

Table 11. Summary of Copper Minerals

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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 1m to 3m in length. Drill core for the metallurgical test work was quartered using a rotary diamond blade saw and samples were sealed on site before transportation to C. H. Plenge & CIA S.A. ("Plenge") in Lima by secure courier.

Plenge Laboratories in Lima Peru is an independent metallurgical test laboratory and had a program of QA/QC in place to ensure the quality of the test work was certified. The lock cycle rougher tails were submitted for re-assay at SGS del Peru SAC. Assay results between the two testing facilities were consistent. Flotation optimization tests using design of experiment included no less than four duplicate tests to obtain lack of fit and pure error estimates. A good reconciliation was found between the calculated head grades and the assay head grades. SGS have international OHSAS certifications 18001, ISO 14001 and ISO 9001; in addition, SGS laboratories are accredited by INACAL under NTP ISO/IEC 17025:2017.

Composite samples M1, M2 and M3 were analyzed for 24 elements using a partial four-acid digestion and ICP-OES finish at Plenge.

DLP Resources is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of intervals reported for the three composites sent to Plenge for the metallurgical test work.

Aurora Project

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.

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, Corporate Secretary and Land Manager
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 and metallurgical 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221457

FAQ

What were the recovery rates for copper, molybdenum, and silver in DLP's Aurora Project initial study?

The recovery rates were 95.8% for copper, 86.4% for molybdenum, and 89.3% for silver.

When did DLP Resources report the results of its metallurgical study for the Aurora Project?

DLP Resources reported the results on August 29, 2024.

Which company conducted the metallurgical test work for DLP's Aurora Project?

The test work was conducted by Plenge in Lima, Peru.

What were the key findings of DLP’s metallurgical study on the Aurora Project?

Key findings include high recoveries of copper (95.8%), molybdenum (86.4%), and silver (89.3%), as well as successful copper-molybdenum separation for composites M-1 and M-3.

What are the current market prices for molybdenum, copper, and silver referenced in DLP’s report?

Current market prices are $30/lb for molybdenum, $4.20/lb for copper, and $29/oz for silver.