DLP Resources Confirms Extension of Copper, Silver and Molybdenum Mineralization to NE of Aurora Drilling with Values of up to 2.25% Cu and 195g/t Ag and 182ppm Mo in Rock Samples

Rhea-AI Summary

DLP Resources Inc. announces receipt of complete rock sampling results for the area NE of the current drilling at the Aurora porphyry copper-molybdenum project in southern Peru. The results show an extension of at least 700m x 500m to the NE and SE, with anomalous Cu, Mo, and Ag identified. The rock chip samples returned significant percentages of Cu, Ag, and Mo, indicating potential mineralization in the area.

Positive

• Anomalous Cu, Mo, and Ag identified in the area NE of the current drilling
• Rock chip sample 1062 returned 2.25% Cu and 195g/t Ag
• Further rock chip samples with highly anomalous Cu, Ag, and/or Mo results included
• President and CEO, Mr. Gendall, expressed encouragement with the results from rock sampling

Negative

• None.

Cranbrook, British Columbia--(Newsfile Corp. - February 8, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") announces receipt of complete rock sampling results for the area immediately NE of the current drilling at the Aurora porphyry copper-molybdenum project in southern Peru (Figure 1).

Results for 40 rock samples taken to the NE of the DLP drilling identified an area of anomalous Cu, Mo and Ag extending over approximately 700m x 500m (See Figures 2, 3 and 4). This area also overlies a similar magnetic anomaly that underlies the main porphyry area.

Highlights

1. Rock chip sample 1062 returned 2.25% Cu and 195g/t Ag. This sample was taken from a moderately silicified and brecciated hornfels with mineralization consisting of pyrite-chalcopyrite-covellite-chalcocite and copper oxides. Sampling was done over a surface area of 10m x 10m.

2. Further rock chip samples with highly anomalous Cu, Ag and/or Mo results included:

   • Sample 1084 - 1.5150% Cu, 5.53g/t Ag and 1.01ppm Mo

   • Sample 1060 - 0.2680% Cu, 2.09g/t Ag and 74.3ppm Mo

   • Sample 1065 - 0.0527% Cu, 2.28g/t Ag and 137ppm Mo

   • Sample 1067 - 0.0095% Cu, 0.79g/t Ag and 53.1ppm Mo

   • Sample 1074 - 0.3440% Cu, 5.56g/t Ag and 1.78ppm Mo

   • Sample 1075 - 0.1300% Cu, 0.13g/t Ag and 4.86ppm Mo

   • Sample 1078 - 0.1880% Cu, 4.77g/t Ag and 5.59ppm Mo

   • Sample 1086 - 0.1205% Cu, 4.61g/t Ag and 1.23ppm Mo

   • Sample 1099 - 0.0077% Cu, 0.29g/t Ag and 182ppm Mo

See Table 1 for the full set of results for the rock chip samples.

Mr. Gendall, President and CEO, commented: "We are very encouraged with the results from rock sampling to the NE of the current drilling of 2023. Anomalous Cu, Mo and Ag in rocks has identified an extension of at least 700m x 500m to the NE and SE which we will expand drilling into in 2024."

Table 1. Summary of Rock Chip Results for the NE Extension of the Aurora Project.

Aurora Rock Chip Samples
Sample	Northings	Eastings	Elevation	Sample	Sample	Description	Ag	Cu	Mo
No	(m)	(m)	(m)	Type	Area (m2)		g/t	ppm	ppm
1052	8566444	190610	2821	Rock chip	0.5 x 1.5	Structure in hornfels, 50 cm wide x 1.5 m long; with quartz and pyrite.	0.05	28.8	0.23
1053	8566529	190722	2800	Rock chip	20 x 20	Slate. Po (0.5%) along foliation planes. Traces of Cpy associated with Po.	0.07	73.7	0.63
1054	8566619	190723	2842	Rock chip	20 x 20	Slate. Po (0.5%) along foliation planes. Traces of Cpy associated with Po.	0.07	48.8	0.74
1057	8566522	190479	2893	Rock chip	10 x 10	Slates with sericite-muscovite alteration. Traces of OxCu.	0.65	125.5	10.1
Aurora Rock Chip Samples
Sample	Northings	Eastings	Elevation	Sample	Sample	Description	Ag	Cu	Mo
No	(m)	(m)	(m)	Type	Area (m2)		g/t	ppm	ppm
1058	8566320	190285	2899	Rock chip	15 x 15	Hornfels with moderate silicification. Quartz veinlets (NW-SE/NE) and iron oxides	10	79.9	0.36
1059	8566395	190365	2902	Rock chip	20 x 15	Hornfels with moderate silicification. Quartz veinlets (NW-SE/NE) + iron oxides	2.04	175	0.65
1060	8566111	190280	2841	Rock chip	15 x 15	Hornfels with moderate silicification. Quartz veinlets with sulphides (Py-Cpy-Mo-Cv-Cc). OxCu in fractures.	2.09	2680	74.3
1062	8565968	190389	2784	Rock chip	10 x 10	Hornfels with moderate silicification and brecciated. The mineralization consists of Py-Cpy-Cv-Cc-OxCu.	195	22500	2.16
1063	8566300	190329	2845	Rock chip	20 x 20	Hornfels with sericite alteration. Quartz sulphide veinlets. The mineralization consists of Py-(Cpy-Cv-Cc-OxCu).	0.38	979	1.14
1064	8566400	190417	2871	Rock chip	15 x 10	Hornfels with sericite alteration. Quartz veinlets. The mineralization consists of iron oxide + py	1.21	243	0.6
1065	8566174	190185	2926	Rock chip	15 x 15	Contact between silicified Hornfels and QEFBP (intermineral) with sericite alteration. Sporadic quartz-sulphide veinlets which contain Py-Cpy-Mo.	2.28	527	137
1066	8566204	190136	2916	Rock chip	20 x 20	QEFBP (intermineral) with sericite alteration. Traces of Py-Cpy.	0.95	75.6	8.25
1067	8566187	190133	2918	Rock chip	20 x 20	Hornfels with weak to moderate silicification and quartz veinlets. In contact with QEFBP (intermineral). The mineralization consists of iron oxides-Py-Mo.	0.79	94.5	53.1
Aurora Rock Chip Samples
Sample	Northings	Eastings	Elevation	Sample	Sample	Description	Ag	Cu	Mo
No	(m)	(m)	(m)	Type	Area (m2)		g/t	ppm	ppm
1069	8566363	190686	2723	Rock chip	15 x 15	Slate with Py-Po (1%) disseminated along foliation planes	0.09	41.9	1.76
1070	8566399	190636	2771	Rock chip	15 x 15	Slate with Py-Po along foliation planes	0.06	15.6	1.14
1072	8566336	190514	2810	Rock chip	25 x 25	Hornfels with weak sericite alteration. Quartz veinlets. 15 cm wide structure with Qz-iron oxides-Py and traces of OxCu.	2.97	603	0.53
1073	8566367	190493	2846	Rock chip	20x 20	Slate with quartz veinlets (N85/80). In part brecciated (BXC)	1.02	169.5	0.87
1074	8566113	190388	2734	Rock chip	10 x 10	Hornfels with weak to moderate silicification. Quartz veinlets with sulphides (Py-Cpy-(Cv)	5.56	3440	1.78
1075	8566212	190417	2736	Rock chip	10 x 10	Slate with quartz veinlets. Contains traces of OxCu. In part crackle brecciation seen (BXC)	0.13	1300	4.86
1077	8566277	190497	2768	Rock chip	15 x 15	Hornfels with crackle breccia + moderate silicification. Quartz filling with OxCu in fractures	20.8	735	2.29
Py=pyrite, Cpy=chalcopyrite, Po=pyrrhotite, Mo=molybdenite, Cc=chalcocite, Cv=covellite, OxCu=oxide copper, BXC=crackle breccia, QEFBP=quartz-eye-feldspar-biotite porphyry

 

Aurora Rock Chip Samples
Sample	Northings	Eastings	Elevation	Sample	Sample	Description	Ag	Cu	Mo
No	(m)	(m)	(m)	Type	Area (m2)		g/t	ppm	ppm
1078	8566326	190223	2850	Rock chip	15 x 15	Hornfels with weak silicification. Contains traces of OxCu in fractures.	4.77	1880	5.59
1079	8566235	190028	2874	Rock chip	20 x 20	QEFBP (intermineral) with moderate sericite alteration. Traces of Py-Cpy-Cv.	2.35	889	34
1080	8566369	190187	2835	Rock chip	15 x 15	Hornfels with crackle breccia and moderate silicification. Quartz filling with OxCu is shown in fractures.	9.81	175.5	0.53
Aurora Rock Chip Samples
Sample	Northings	Eastings	Elevation	Sample	Sample	Description	Ag	Cu	Mo
No	(m)	(m)	(m)	Type	Area (m2)		g/t	ppm	ppm
1082	8566337	190052	2793	Rock chip	20 x 20	QEFBP (intermineral) with moderate sericite alteration. Sporadic quartz veinlets. Traces of Py-Cpy-Cv and OxCu in fractures.	0.7	542	32
1083	8566455	190050	2720	Rock chip	15 x 15	Hornfels with weak sericite alteration. Contains Py-Po and traces of Cpy-OxCu.	1.32	140	1.19
1084	8566507	190218	2713	Rock chip	15 x 15	Hornfels with crackle breccia and moderate silicification and quartz filling with OxCu in fractures.	5.53	15150	1.01
1085	8566447	190292	2837	Rock chip	15 x 15	Crackle breccia (BXC) in hornfels with quartz stockwork veinlets.	16.1	146.5	0.65
1086	8566535	190062	2632	Rock chip	15 x 15	Hornfels with weak sericite alteration and sporadic quartz veinlets.	4.61	1205	1.23
1087	8566535	190162	2659	Rock chip	15 x 15	Hornfels with moderate silicification. Contains sporadic quartz veinlets and traces of Py-Po.	2.59	474	1.5
1088	8566560	190262	2725	Rock chip	15 x 15	Hornfels with moderate silicification. Contains sporadic quartz veinlets with traces of Py.	0.22	183	10.1
1089	8566435	190162	2769	Rock chip	15 x 15	Hornfels with moderate silicification. Contains quartz veinlets with Py and traces of Cpy.	25.2	223	0.25
1090	8566535	190362	2797	Rock chip	15 x 15	Hornfels with moderate silicification. Contains quartz-iron oxide veinlets.	0.4	25.7	0.32
1092	8566235	190761	2604	Rock chip	15 x 15	Slate with disseminated pyrrhotite.	0.23	106.5	3.39
1093	8566135	190762	2556	Rock chip	15 x 15	Slate with disseminated pyrrhotite.	0.18	51.2	3.17
1094	8566135	190662	2585	Rock chip	15 x 15	Slate with disseminated pyrrhotite.	0.13	38.5	1.08
1095	8566234	190662	2666	Rock chip	15 x 15	Slate with disseminated pyrrhotite.	0.83	48.7	0.91
1097	8566135	190562	2641	Rock chip	15 x 15	Hornfels with weak sericite alteration. Contains traces of Py-Po.	0.45	229	1.17
Aurora Rock Chip Samples
Sample	Northings	Eastings	Elevation	Sample	Sample	Description	Ag	Cu	Mo
No	(m)	(m)	(m)	Type	Area (m2)		g/t	ppm	ppm
1098	8566235	190562	2667	Rock chip	15 x 15	Slate with disseminated pyrrhotite.	0.91	228	1.08
1099	8566135	190162	2934	Rock chip	15 x 15	Hornfels with sericite alteration. Contains traces of Py-Po.	0.29	77.2	182
1100	8566626	190530	2818	Rock chip	0.5 x 1.5	Structure in hornfels, 50 cm wide x 1.5 m long.	2.01	54.4	0.56
Py=pyrite, Cpy=chalcopyrite, Po=pyrrhotite, Mo=molybdenite, Cc=chalcocite, Cv=covellite, OxCu=oxide copper, BXC=crackle breccia, QEFBP=quartz-eye-feldspar-biotite porphyry

 

Quality Control and Quality Assurance

DLP Resources Peru S.A.C, a subsidiary of DLP Resources Inc., supervises sampling and carries out surface sampling and mapping of outcrop at the Aurora project. Rock chip sampling was done within a maximum area of 25m x 25m and descriptions were carried out by a geologist. Samples are bagged and sealed on site before transportation to the ALS Peru S.A.C. sample preparation facility in Arequipa by Company vehicles and staff. Rocks are crushed with 70% passing <2mm. Sample is split with riffle splitter and 250g pulverized to 85% less than 75um. 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 51 elements using aqua regia digestion and analyzed by ICP-MS + ICPAES analysis (ME-MS41). Overlimit samples for copper and silver were re-analysed by four-acid digestion and ICP-AES (ME-OG62). 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.

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.

 
Figure 1: DLP Project areas in Peru with Aurora Project Shown.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_001full.jpg
 

 
Figure 2: Aurora Project - Magnetic analytic signal data with drillholes shown and anomalous copper in rock samples in NE sector.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_002full.jpg
 

 
Figure 3: Aurora Project - Magnetic analytic signal data with drillholes shown and anomalous molybdenum in rock samples in NE sector.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_003full.jpg
 

 
 Figure 4: Aurora Project - Magnetic analytic signal data with drillholes shown and anomalous silver in rock samples in NE sector.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_004full.jpg

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197211

FAQ

What are the ticker symbols for DLP Resources Inc.?

The ticker symbols for DLP Resources Inc. are TSXV: DLP and OTCQB: DLPRF.

Where are the rock sampling results from?

The rock sampling results are from the area NE of the current drilling at the Aurora porphyry copper-molybdenum project in southern Peru.

What are the significant findings from the rock sampling results?

The results show an extension of at least 700m x 500m to the NE and SE, with anomalous Cu, Mo, and Ag identified. The rock chip samples returned significant percentages of Cu, Ag, and Mo, indicating potential mineralization in the area.

Who commented on the rock sampling results?

Mr. Gendall, President and CEO, commented on the rock sampling results.

What are the significant percentages of Cu, Ag, and Mo found in the rock chip samples?

Rock chip sample 1062 returned 2.25% Cu and 195g/t Ag, indicating significant mineralization in the area.