DLP Resources intersects 216.15m of 0.82% CuEq* within an interval of 1080.15m of 0.32% CuEq*on the Aurora Project in Southern Peru.
DLP Resources intersects 216.15m of 0.82% CuEq* within an interval of 1080.15m of
0.32% CuEq*on the Aurora Project in Southern Peru.
Cranbrook, British Columbia, (Newsfile Corp. – August 15, 2024) DLP Resources Inc. (“DLP” or the
“Company”) (TSXV:DLP) (OTCQB:DLPRF) announces receipt of complete drill results for drillhole A24-
016 on the Aurora porphyry copper-molybdenum-silver project in southern Peru. (Figure 1).
Results for the first fifteen drillholes, were last released between January 04 and July 16, 2024 (see
DLP Resources Inc., news release of January 04, 2024, June 25, 2024 and July 16, 2024 for results for
the previous fifteen drillholes).
Highlights
Drillhole A24-016 was drilled off the same drill platform as A24-015 towards the northwest and
intersected copper-molybdenum and silver mineralization throughout the hole to a depth of
1080.15m. The top of the hole from 0m to 89.00m intersected 0.48% CuEq* in mineralized hornfels
and the lower 216.15m (864m to 1080.15m) intersected 0.82% CuEq* in mineralized hornfels and
early quartz-eye-feldspar-biotite porphyry. A24-016 ended in molybdenum mineralization and the
most significant mineralized intervals included:
• 0.32% CuEq * over 1080.15m (0.15% Cu, 0.0318% Mo and 1.41g/t Ag ) from 0.00m to
1080.15m
• 0.48% CuEq* over 89.00m (0.31% Cu, 0.0003% Mo and 20.03g/t Ag) from 0.00m to 89.00m.
• 0.24% CuEq* over 535.00m (0.18% Cu, 0.00 82% Mo and 1.75g/t Ag) from 3 29.00m to
864.00m.
• 0.82% CuEq* over 216.15m (0.09% Cu, 0.1397% Mo and 0.62g/t Ag) from 864.00m to
1080.15m.
The complete set of results for A24-016 are summarized in Table 1 below.
Mr. Gendall, President and CEO commented: “ A24-016 confirmed shallow copper mineralization in
the eastern sector and we continue to expand the footprint of copper -molybdenum and silver
mineralization at Aurora. Two drill rigs are currently drilling A24-017 and A24-018 in the northeast
and southwest zones and we expect to extend copper-molybdenum mineralization in these areas .
Results for A24-017 and A24-018 will be available for release in late September and early October.”
Aurora Cu-Mo Project – Summary of Drill Results for A24-016
o Drill hole A2 4-016 (Figures 2 and 3) commenced on June 19 on an azimuth of 320
degrees with an inclination of -70 degrees and ended on July 21 at 1080.15m.
Summary geology is as follows:
o 0 - 89.00m: Mineralized hornfels with chalcopyrite, chalcocite and covellite
and sulphide-rich E-type veins within the weak enrichment zone.
o 89.00m -329.00m: Weakly mineralized hornfels.
o 329.00m – 897.10m: Mineralized hornfels with disseminated and veined
sulphides of chalcopyrite, pyrite, pyrrhotite and minor molybdenum.
o 897.10 – 1080.15m: Molybdenum mineralized early quartz-eye-feldspar-
biotite porphyry with minor chalcopyrite. End of hole on July 21, 2024.
Table 1. Summary of Drill Results for Diamond Drillhole A24-016. 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 %
A24-016 0.00 1080.15 1080.15
Mineralized hornfels and
early porphyry 0.15 0.0318 1.41 0.32
Includes 0.00 89.00 89.00
Mineralized hornfels -weak
copper enrichment 0.31 0.0003 20.03 0.48
Includes 89.00 329.00 240.00 Weakly mineralized hornfels 0.06 0.0012 0.72 0.08
329.00 864.00 535.00 Mineralized hornfels 0.18 0.0082 1.75 0.24
864.00 1080.15 216.15
Mo-rich hornfels with early
porphyry 0.09 0.1397 0.62 0.82
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 length of A24-016
except for intervals from 0 to 6m, with only 45% recoveries due to fractured rock. 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 and Cu are uncut and Ag values are cut to 100g/t.
Table 2: A24-016 Diamond drillhole location, depth, orientation and inclination.
Hole Easting Northing Elevation Length Azimuth Inclination
ID m m m m Degrees Degrees
A24-016 190,321 8,566,026 2856 1080.15 320 -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 c opper 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 reported from 0m to 6.00m
where core recovery was below 50% due to fracturing.
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.
Figure 2: Aurora Project – Plan view on analytic signal-magnetic map showing historic drilling and
drilling by DLP in 2022-2023 with A24-016, A24-017 and A24-018 in yellow and proposed holes in black.
Cu values within trace of drillhole and Mo values to right of downhole trace.
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. Proposed holes are shown with black dots.
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: [email protected]
Email: [email protected]
Email: [email protected]
Email: [email protected]
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.