DLP Resources Discovers Copper on the 100 % Owned Esperanza Project with Rock Samples Returning up to 4.71% Cu, 28.8ppm Mo, 3540ppm Zn and 383ppm Co

Rhea-AI Summary

DLP Resources Inc. announces positive rock sampling results from the Esperanza porphyry copper-molybdenum project in Southern Peru. The initial reconnaissance sampling revealed highly anomalous copper, molybdenum, cobalt, and zinc in intrusive stocks and breccias. Ten rock chip samples returned values between 1.1% to 4.67% copper, showcasing significant mineralization potential in the project.

Cranbrook, British Columbia--(Newsfile Corp. - March 13, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") announces receipt of the first phase of rock sampling results from the Esperanza porphyry copper-molybdenum project immediately south of the Chapi Mine in Southern Peru (Figure 1).

Results for 44 rock samples taken in the initial reconnaissance sampling and mapping of the northwestern part of the project have returned highly anomalous copper, molybdenum, cobalt and zinc in mapped intrusive stocks and polymictic breccias within the overlying volcanics (Figures 2, 3, 4, 5, 6 and 7).

Highlights

1. Ten of the forty-four rock chip samples returned values between 1.1% Cu and 4.67% (Table 1 and Figure 2). These samples were taken from outcropping quartz diorite and polymictic breccias with visible copper-oxides, iron oxides and tourmaline in fractures.

2. Rock chip samples with high copper grades included:

   • Sample 1161 - 3.88% Cu, 1.47ppm Mo, 3540ppm Zn and 281ppm Co.

   • Sample 1162 - 2.84% Cu, 1.75ppm Mo, 2510ppm Zn and 237ppm Co.

   • Sample 1163 - 3.34% Cu, 1.39ppm Mo, 1905ppm Zn and 238ppm Co.

   • Sample 1164 - 3.85% Cu, 1.46ppm Mo, 1885ppm Zn and 323ppm Co.

   • Sample 1165 - 3.17% Cu, 1.26ppm Mo, 1600ppm Zn and 210ppm Co

   • Sample 1167 - 1.10% Cu, 1.49ppm Mo, 2030ppm Zn and 155ppm Co.

   • Sample 1171 - 4.67% Cu, 1.76ppm Mo, 3060ppm Zn and 209ppm Co.

   • Sample 1172 - 4.71% Cu, 1.63ppm Mo, 2030ppm Zn and 383ppm Co.

   • Sample 1173 - 1.15% Cu, 1.32ppm Mo, 2730ppm Zn and 286ppm Co.

   • Sample 1174 - 1.45% Cu, 1.28ppm Mo, 1155ppm Zn and 26.4ppm Co.

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

Mr. Gendall, President and CEO commented: "The Esperanza project is a grassroots porphyry copper-molybdenum project which is in a fantastic location in southern Peru and was completely unexplored until now. Initial sampling and mapping commenced in January 2024 and field observations together with these first set of rock results are very encouraging. This project is immediately south of the Chapi copper mine and within the principal porphyry copper belts of southern Peru. We look forward to advancing the project while we await drill start-up at Aurora."

Table 1. Summary of Select Rock Chip Results for the Esperanza Porphyry Cu-Mo Project.

SAMPLE	Northing	Easting	Elev.	Cu	Mo	Zn	Co	Description
No	m	m	m	%	ppm	ppm	ppm	Rock Chip Samples 2x2m Sampling Area
1153	8136819	244380	1953	0.44	0.77	2010	79.90	Quartz Diorite, FeOx + Malachite + Mn + Tm?
1159	8136708	244451	1940	0.01	6.31	59	7.60	Quartz Diorite, Qtz Veinlets + FeOx + Calcite
1160	8136536	244530	1929	0.01	6.84	71	4.20	Aplite Dyke, FeOx
1161	8136324	244719	1959	3.88	1.47	3540	281.00	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1162	8136329	244714	1959	2.84	1.75	2510	237.00	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1163	8136311	244723	1955	3.34	1.39	1905	238.00	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1164	8136313	244674	1853	3.85	1.46	1885	323.00	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1165	8136818	244384	1954	3.17	1.26	1600	210.00	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
SAMPLE	Northing	Easting	Elev.	Cu	Mo	Zn	Co	Description
No	m	m	m	%	ppm	ppm	ppm	Rock Chip Samples 2x2m Sampling Area
1166	8136818	244384	1954	0.22	0.54	1490	68.30	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1167	8136818	244384	1953	1.10	1.49	2030	155.00	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1168	8136818	244384	1953	0.07	0.34	361	23.20	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1169	8136818	244384	1953	0.42	0.89	3270	136.50	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1171	8136739	244409	1930	4.67	1.76	3060	209.00	Quartz Diorite, Arg Alteration, Qtz Vlts, FeOx, + Vlts Calc
1172	8136324	244719	1932	4.71	1.63	2030	383.00	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1173	8136329	244714	1853	1.15	1.32	2730	286.00	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1174	8136311	244723	1853	1.45	1.28	1155	26.40	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1188	8134456	241824	1917	0.01	14.80	65	30.90	Breccia, FeOx, Lim boxworks
1189	8134615	241913	1922	0.01	28.80	24	4.70	Polymictic Bx, FeOx in fractures
1191	8135447	242573	1930	0.02	10.20	82	17.20	Quartz vein, Strong Fracturing with FeOx + Mn
1192	8134631	243258	1926	0.02	6.54	98	5.80	Andesite fragment, FeOX, Intense Fracturing
1193	8134646	243282	1929	0.01	2.46	27	2.20	Quartz Diorite, QS Alteration, Very Fractured
1194	8134745	243125	1929	0.01	2.95	48	2.60	Quartz Diorite, FeOx, Turgite,
1195	8134797	243341	1925	<0.01	3.08	77	0.80	Quartz Diorite, FeOx, Turgite, Intense Fractures
1196	8134471	243472	1924	<0.01	14.8	42	4.00	Quartz Diorite, Quartz Vlts, FeOx boxworks, Intense Frac.
1197	8134164	243266	1917	<0.01	3.76	95	3.60	Diorite with Qtz Vlts, Leached - FeOx + Qtz Tm vlts
Notes: Bx-Breccia, Qtz-Quartz, Tm-Tourmaline, Vlts-veinlets, FeOx-Iron Oxides, Mt-magnetite
Py-Pyrite, Ep-Epidote, Chl-Chlorite, Lim-Limonite, Neo-Neotocite, Mn-Manganese, Calc-Calcite
V-Very, Frac-Fractured

 

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 Esperanza project. Rock chip sampling was done within a maximum area of 2m x 2m 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 48 elements using a four-acid digestion and ICP-MS analysis (ME-MS61). Overlimit samples for copper and silver were re-analysed by four-acid digestion and ICP-AES (ME-OG62). In addition, sequential copper analyses are done 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 certified reference materials.

Esperanza Project

The Esperanza Cu-Mo Project is an early-stage exploration project in Southern Peru consisting of 4,600 Ha of claims which are 100% owned by DLP. Esperanza is located ~35 km SW of the Cerro Verde Mine in Arequipa and immediately south of the Chapi Copper Mine.

Copper-molybdenum mineralization was initially observed in an early reconnaissance program undertaken in 2022. Subsequently we have completed a satellite alteration mapping program over the project and identified alteration consistent with porphyry copper-molybdenum systems. Follow-up of alteration and subsequent sampling and mapping commenced in early 2024.

 
Figure 1: Esperanza Project Location
 
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Figure 2: Esperanza Project -Anomalous copper, molybdenum, zinc and cobalt in rock samples.
 
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Figure 3: Esperanza Project - Simplified geology with areas of rock samples and anomalous geochemistry.
 
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Figure 4: Esperanza Project - Simplified geology with anomalous Cu in rock samples.
 
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Figure 5: Esperanza Project - Simplified geology with anomalous Mo in rock samples.
 
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Figure 6: Esperanza Project - Simplified geology with anomalous Zn in rock samples.
 
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Figure 7: Esperanza Project - Simplified geology with anomalous Co in rock samples.
 
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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 further sampling, mapping and advancement of the Esperanza 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 rock chip results expected from the Esperanza 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/201477

FAQ

What are the ticker symbols for DLP Resources Inc. mentioned in the press release?

The ticker symbols for DLP Resources Inc. mentioned in the press release are TSXV: DLP and OTCQB: DLPRF.

Where is the Esperanza porphyry copper-molybdenum project located?

The Esperanza project is located in Southern Peru, immediately south of the Chapi Copper Mine.

What were the highlights of the rock sampling results?

Ten rock chip samples returned values between 1.1% to 4.67% copper, with significant mineralization potential in quartz diorite and polymictic breccias.

Who is the qualified person for DLP Resources Inc. as defined by National Instrument 43-101?

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

What is the size of the Esperanza Cu-Mo Project claims owned by DLP Resources Inc.?

The Esperanza Cu-Mo Project consists of 4,600 Ha of claims which are 100% owned by DLP Resources Inc.