DLP Resources Announces Commencement of 2024 Drilling at Aurora

Rhea-AI Summary

DLP Resources Inc. announces the commencement of the 2024 drilling program at the Aurora porphyry copper-molybdenum project in Peru. The company plans to drill along extensions of known mineralization to the northeast and southeast. Significant drill results from 2022-23 have been released, with upcoming results expected in early June 2024.

Cranbrook, British Columbia--(Newsfile Corp. - April 30, 2024) - 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.

¹ Intervals 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. P

FAQ

When did DLP Resources announce the commencement of drilling at the Aurora project?

DLP Resources announced the commencement of drilling at the Aurora project on April 30, 2024.

What is the location of the Aurora project?

The Aurora project is located in the Province of Calca, SE Peru.

What are the plans for the 2024 drilling program at Aurora?

The company plans to drill along extensions of known copper-molybdenum mineralization to the northeast and southeast during 2024.

Who is the qualified person for DLP Resources?

David L. Pighin, a consulting geologist and co-founder of DLP Resources, is the qualified person for the company.

What are the metal equivalencies used for the Aurora project?

The metal equivalencies for Cu, Mo, and Ag are based on Cu - US$3.34/lb, Mo - US$18/lb, and Ag - US$21.87/oz.