DLP Resources Intersects 954m of 0.36% CuEq* and 94.00m of 0.81% Cu on the Aurora Project in Southern Peru

Rhea-AI Summary

DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) announced results from drillholes A24-017 and A24-018 on the Aurora porphyry copper-molybdenum-silver project in southern Peru. Highlights include:

- A24-017: 0.81% Cu over 94.00m from 31m to 125.00m
- A24-018: 0.36% CuEq* (0.23% Cu, 0.02% Mo, 2.09g/t Ag) over 954m from 164.00m to 1118.00m

The drilling expanded copper mineralization to the northeast and southwest. A24-017 confirmed shallow copper mineralization in the northeast, while A24-018 expanded the footprint of copper-molybdenum and silver mineralization in the southwest.

The company also provided an update on the NZOU Project in SE British Columbia, where drilling ended at 1759m without significant zinc mineralization. No further drilling is planned for NZOU.

Positive

• Drillhole A24-017 intersected high-grade copper mineralization: 0.81% Cu over 94.00m
• Drillhole A24-018 showed extensive mineralization: 0.36% CuEq over 954m
• Expansion of copper-molybdenum-silver mineralization footprint in the Aurora project
• Continued success with expansion drilling at Aurora

Negative

• No significant zones of zinc mineralization observed in the NZOU Project
• No further drilling planned for the NZOU Project

Cranbrook, British Columbia--(Newsfile Corp. - September 26, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") announces receipt of complete drill results for drillholes A24-017 and A24-018 on the Aurora porphyry copper-molybdenum-silver project in southern Peru. (Figure 1).

Results for the first sixteen drillholes, were last released between January 04 and August 15, 2024 (see DLP Resources Inc., news release of January 04, 2024, June 25, 2024 and August 15, 2024 for results for the previous sixteen drillholes).

Highlights

Drillhole A24-017 was drilled off a drill platform approximately 169m northeast of A22-003 with the aim of expanding the copper mineralization further to the east. This drillhole intersected copper mineralization from surface extending to 125m in mineralized hornfels. Results were as follows:

• 0.63% Cu over 125m from 0.00m to 125.00m.
• 0.81% Cu over 94.00m from 31m to 125.00m.

Drillhole A24-018 was drilled off the same platform as the vertical hole A23-013 but drilled at -70 degrees to the south. The purpose of this hole was to expand the copper-molybdenum-silver mineralization towards the southwest side where the limits of mineralization are still uncertain. Results for this hole were as follows:

• 0.36% CuEq* (0.23% Cu, 0.02% Mo, 2.09g/t Ag) over 954m from 164.00m to 1118.00m.

The complete set of results for A24-017 and A24-018 are summarized in Table 1 below.

Mr. Gendall, President and CEO commented: "A24-017 confirmed shallow copper mineralization in the northeast with A24-018 expanding the footprint of copper-molybdenum and silver mineralization in the southwest side of Aurora. We continue to have success with the expansion drilling at Aurora and we look forward to results from further planned drilling in the southeast".

Aurora Cu-Mo Project - Summary of Drill Results for A24-017 and A24-018

• Drill hole A24-017 (Figures 2 and 3) commenced on June 24th at an inclination of -70 degrees on an azimuth of 085 degrees. and ended on August 15 at 987.25m. Summary geology is as follows:
  • 0 - 125.00m: Mineralized hornfels with copper enrichment.
  • 125.00m - 987.25m: Weakly mineralized hornfels.
• Drill hole A24-018 (Figures 2 and 3) commenced on July 23^rd at an inclination of -70 degrees on an azimuth of 185 degrees. and ended on August 29 at 1118.00m. Summary geology is as follows:
  • 0 - 113.50m: Mineralized hornfels with chalcopyrite, chalcocite and covellite within the enrichment zone.
  • 113.50m - 429.80m: Mineralized quartz-eye-feldspar porphyry.
  • 429.80m - 491.30m Mineralized quartz-eye-feldspar-biotite porphyry with intercalated mineralized hornfels
  • 491.30m - 1118.00m: Mineralized hornfels with occasional mineralized porphyry dykes of between 2m and 8m in width.

Table 1. Summary of Drill Results for Diamond Drillhole A24-017 and A24-018. 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	%
A24-017	0.00	125.00	125.00	Mineralized hornfels	0.63	0.0001	0.67	0.64
Includes	31.00	125.00	94.00	Mineralized hornfels - copper enrichment	0.81	0.0002	1.03	0.82
A24-018	0.00	164.00	164.00	Leached zone - hornfels + porphyry	0.07	0.0058	2.25	0.12
	164.00	1118.00	954.00	Mineralized hornfels + mineralized porphyry	0.23	0.0214	2.09	0.36

 

Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo and Cu are uncut and Ag values are cut to 100g/t, and core recovery is assumed to be 100% for the entire drilled lengths of A24-017 and A24-018 except for the following intervals; A24-017 from 0 to 8m, 25 to 31m, 42 to 46m and 63 to 67m with only 39 to 53% recoveries due to fractured rock and A24-018 from 0 to 12m and 19 to 23m with only 40 to 50% recoveries due to fractured rock. The project is at an early stage of exploration and recoveries of Cu 95.8%, Mo 86.4%, and Ag 89.3%, as determined from the recent metallurgical study, 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 and Cu are uncut and Ag values are cut to 100g/t.

Table 2: A24-017 and A24-018 Diamond drillhole locations, depth, orientation and inclination.

Hole	Easting	Northing	Elevation	Length	Azimuth	Inclination
ID	m	m	m	m	Degrees	Degrees
A24-017	190,196	8,566,399	2837	987.25	85	-70
A24-018	189,904	8,565,904	3022	1118.00	185	-70

 

Co-ordinates are in WGS84 Zone 19S.

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 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 except for intervals in A24-017 from 0 to 8m, 25 to 31m, 42 to 46m and 63 to 67m with only 39 to 53% recoveries due to fractured rock and A24-018 from 0 to 12m and 19 to 23m with only 40 to 50% recoveries due to fractured rock.

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.

NZOU Project - Sullivan Zn-Pb-Ag Target - SE British Columbia (Figure 4)

A one-hole drill program which commenced in 2023 on the NZOU Project was re-started on June 18, 2024, at a depth of 1330m (see news releases of June 13, 2023 and June 21, 2024). This drillhole NZ23-01, was collared in Middle Aldridge siltstones and ended at a depth of 1759m on July 21^st. From 1454m to end of hole at 1759m, Sullivan horizon siltstones and fragmentals with strong sericitization, biotite, albite and chlorite alteration were logged in meta siltstones. Pyrrhotite was disseminated throughout with trace to minor sphalerite, galena and arsenopyrite. No significant zones of zinc mineralization were observed.

No further drilling on NZOU is planned.

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/6456/224668_945a0d89548048e6_001full.jpg

Figure 2: Aurora Project - Plan view showing historic drilling and drilling by DLP in 2022-2023-2024 with A24-017 and A24-018 highlighted in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/224668_945a0d89548048e6_002full.jpg

Figure 3: Aurora Project - Simplified NW-SE section 1-1' showing DLP and historic drillholes. Mo is on the left and the Cu is within the drillhole column.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/224668_945a0d89548048e6_003full.jpg

Figure 4: Titan MT resistivity plan at 0m elevation with the main MT anomaly trending NE from DD21-02 onto the Moby Dick and NZOU properties. NZ23-01 shown with red dot.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/224668_945a0d89548048e6_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, 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 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/224668

FAQ

What were the key results from drillhole A24-017 on the Aurora project?

Drillhole A24-017 on the Aurora project intersected 0.81% Cu over 94.00m from 31m to 125.00m, confirming shallow copper mineralization in the northeast.

What were the significant findings from drillhole A24-018 on the Aurora project?

Drillhole A24-018 on the Aurora project intersected 0.36% CuEq* (0.23% Cu, 0.02% Mo, 2.09g/t Ag) over 954m from 164.00m to 1118.00m, expanding the footprint of copper-molybdenum and silver mineralization in the southwest.

What is the current status of the NZOU Project for DLP Resources (DLPRF)?

DLP Resources (DLPRF) completed drilling on the NZOU Project in SE British Columbia, ending at 1759m. No significant zones of zinc mineralization were observed, and no further drilling is planned for this project.

How does DLP Resources (DLPRF) ensure quality control in their drilling program?

DLP Resources (DLPRF) implements a QA/QC program that includes the insertion of blind certified reference materials, blanks, and pulp duplicate samples. They also use ALS Peru S.A.C., an independent laboratory that meets international standards for analytical procedures.