DLP Resources intersects 256m of 0.68% CuEq* within a 1007.50m interval of 0.37% CuEq*, on the Aurora Project, Finalizes Metallurgical Study & Extends Warrants
DLP Resources intersects 256m of 0.68% CuEq* within a 1007.50m interval of 0.37%
CuEq*, on the Aurora Project, Finalizes Metallurgical Study & Extends Warrants
Cranbrook, British Columbia, (Newsfile Corp. – December 23, 2024) DLP Resources Inc. (“DLP” or
the “Company”) (TSXV:DLP) (OTCQB:DLPRF) announces receipt of complete drill results for drillhole
A24-022 on the Aurora porphyry copper -molybdenum-silver project in southern Peru. (Figure 1). In
addition, DLP is pleased to report further results from the metallurgical scoping study on its Aurora
Project in southern Peru and extends warrants.
Highlights
• Drillhole A24-022 was drilled approximately 426m southeast of A24 -021 with the aim of
expanding the mineralization to the southeast. This drillhole intersected copper-silver and
molybdenum mineralization from 0m to the end of the hole at 1 007.50m. Summary results
were as follows:
o 0.37% CuEq* over 1007.50m from 0.00m to 1007.50m.
o 0.34% CuEq* over 679.00m from 0.00m to 679.00m.
o 0.32% CuEq* over 374.00m from 159.00m to 533.00m
o 0.44% CuEq* over 474.50m from 533.00m to 1007.50m.
o 0.68% CuEq* over 256.00m from 591.00m to 847.00m.
The complete set of results for A24-022 are summarized in Table 1 below.
• Initial metallurgical testing on composite M2 with a head grade of 6.9 g/ t silver, 0.62% copper
0.052% molybdenum were unconclusive with poor flotation lock cycle stability and the need
for additional testing was highly recommended . Following these recommendations by Plenge
Laboratory further test work was completed with the main objective to improve the composite
M2 metallurgy to obtain commercial grades of molybdenum and copper concentrates. Results
were as follows:
o Recoveries of 93.2% Ag, 97.4% Cu and 95.1% Mo were reported from the
concentrate.
o By open circuit flotation a molybdenum concentrate of 49.7% Mo and a copper
concentrate of 28.7% Cu was obtained.
o No penalty elements were found for both copper and molybdenum concentrate.
Mr. Gendall, President and CEO commented: “Drillhole A24-022 was the last hole drilled for 2024 and
once again, we had a very successful 2024 drill program with all nine holes intersecting very good
molybdenum, copper and silver mineralization to 1000m plus depths. In addition, early-stage
metallurgical testing has confirmed good recoveries, very good copper and molybdenum concentrate
production with no significant deleterious elements. With all data now in for 2024 we can now
advance the initial resource estimate expected in Q1 of 2025.”
Aurora Cu-Mo Project – Summary of Drill Results for A24-022
Drill hole A24-022 (Figures 2,3,4 and 5) commenced on October 08, 2024, at an inclination of -70 degrees
on an azimuth of 300 degrees and ended on November 12 at 1007.50m. Summary geology is as follows:
o 0.00 - 47.20m: Mineralized quartz-eye-feldspar porphyry.
o 47.20 – 76.00m: Mineralized intrusive breccia.
o 76.00 – 187.70m: Mineralized hornfels with quartz-eye-feldspar porphyry.
o 187.70– 305.95m: Mineralized quartz-eye-feldspar-biotite porphyry with
mineralized hornfels.
o 305.95 – 361.55m: Mineralized quartz-eye-feldspar-biotite porphyry.
o 361.55 – 469.35m: Mineralized hornfels.
o 469.35 – 667.40m: Mineralized hornfels with minor intervals of quartz-eye-
feldspar-biotite porphyry.
o 667.40 – 1007.50m: Mineralized quartz-eye-feldspar-biotite porphyry.
Table 1. Summary of Drill Results for Diamond Drillhole A24-022. 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 %
A24-022 0.00 1007.50 1007.50
Mineralized hornfels,
intrusive breccias + porphyry 0.14 0.0438 1.71 0.37
Includes 0.00 679.00 679.00 Mineralized porphyry,
hornfels and breccia
0.19 0.0247 2.45 0.34
Includes 159.00 533.00 374.00 Mineralized porphyry with
mineralized hornfels.
0.23 0.0174 1.97 0.32
533.00 1007.50 474.50 Mineralized hornfels +
porphyry
0.06 0.0771 0.50 0.44
Includes 591.00 847.00 256.00 Mineralized hornfels +
porphyry
0.18 0.1203 0.69 0.68
Note: *Copper equivalent grades (CuEq*) are for comparative purposes only. Cu and Ag values are uncut
and Mo is cut to 1% and core recovery is assumed to be 100% for the entire drilled length s of A24-022
except for the following intervals from 0.00m to 10.00m and 12.00 to 15.00m with only 33% core recovery
due to fractured and sheared rock. The project is at an early stage of exploration an d 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. Cu and Ag values are uncut and Mo is cut to 1%.
Table 2: A24-022 Diamond drillhole location, depth, orientation and inclination.
Hole Easting Northing Elevation Length Azimuth Inclination
ID m m m m Degrees Degrees
A24-022 190,340 8,566,085 2735 1007.50 300 -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 for intervals reported in A24-022 from 0.00m to
1007.50m, except for the following intervals from 0.00m to 10.00m and 12.00 to 15.00m with only 33%
core recovery due to fractured and sheared rock.
Metallurgical Scoping Study – M2 Bulk Sample
The Company commissioned C.H. Plenge & Cia S.A. ("Plenge") in Lima, Peru to complete additional test
work on copper enriched/mixed (M -2) bulk composite. The initial test work on three composites taken
from the partially leached (M -1), copper enriched/mixed (M -2) and primary Mo -rich (M-3) zones were
reported on August 29, 2024 (see DLP press release of August 29, 2024).
Previous testing on composite M2 with a head grade of 6.9 g/ t silver, 0.62% copper 0.052% molybdenum
were unconclusive with poor flotation lock cycle stability and the need for additional testing was highly
recommended.
The test works main objective was to improve the composite M2 metallurgy to obtain commercial grades
of molybdenum and copper concentrates.
Summary
By open circuit flotation a molybdenum concentrate was obtained assaying 12.5 g/ t silver and 49.7%
molybdenum with recoveries of 0.18%, and 78.0% respectively. The copper concentrate assayed 229 g/ t
silver, 28.7% copper and 0.07% molybdenum with recoveri es of 60.3%, 74.4% and 2% respectively. The
molybdenum concentrate mass pull is 0.09% and the copper concentrate is 1.6%. In a lock cycle test the
recoveries will increase slightly and need to be confirmed.
By bulk flotation open circuit, a concentrate assaying 54.3g/t, silver, 5.43% copper and 0.42% molybdenum
was recovered with recoveries of 93.2%, 97.4% and 95.1% respectively. The concentrate mass pull was
11.2% equivalent to a RC of 8.93.
Three (3) kinetic flotation tests were performed on the rougher concentrate at regrind times of 4, 8 and
16 minutes.
The data shows high copper (99%) and molybdenum (98%) recoveries from the rougher concentrate at
fine sizes require flotation times greater than 8 minutes. The cleaning flotation times were set to 10
minutes for this stage.
Tests 10 through 12 tested the effect to regrind on copper molybdenum and copper gangue separation
with following results.
Table 3. Effect of Regrind Molybdenum and Copper Concentrates.
Table 3 shows that in test 12 the molybdenum concentrate assayed 12.5g/ t silver, 0.2% copper and 49.7%
molybdenum with recoveries of 0.2%, 0.03% y 78% respectively. The copper concentrate assayed 229.1
g/t silver, 28.7% copper and 0.1% molybdenum for recoveries 60.3%, 74.4% and 2.0% respectively.
The molybdenum concentrate mass pull is 0.09% and copper concentrate 1.60 respectively. The regrind
size P80 for molybdenum is 43 microns and for copper concentrate is 25 microns.
Further improvements in grade and recovery are foreseeable with further locked cycle testing.
No penalty elements were found for both copper and molybdenum concentrate (Table 4).
Table 4. Concentrations of Deleterious Elements / Penalty Elements in Concentrate – M2 Composite
Sample.
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 showing historic drilling and drilling by DLP in 2022-2023-2024 with
previously reported CuEq* values and A24-022 highlighted in blue.
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.