DLP Resources intersects 451.2m of 1.04% CuEq* within a 773.2m interval of 0.82% CuEq* on the Aurora Project in Southern Peru and Appoints New Chief Financial Officer
DLP Resources intersects 451.2m of 1.04% CuEq* within a 773.2m interval of 0.82% CuEq* on the
Aurora Project in Southern Peru and Appoints New Chief Financial Officer
Cranbrook, British Columbia, (Newsfile Corp. – January 04, 2024) DLP Resources Inc. (“DLP” or the “Company”)
(TSXV:DLP) (OTCQB:DLPRF) announces receipt of complete drill results for drillhole, A23-013 on the Aurora porphyry
copper-molybdenum project in southern Peru (Figure 1).
Results for the first twelve drillholes, A22-001, A22-002, A22-003, A23-004, A23-005, A23-006, A23-007, A23-008,
A23-009, A23-010, A23-011 and A23-012 were last released on November 14, 2023. (see DLP Resources Inc., news
release of November 14, 2023, for results for A23-001 to A23-012 and Table 3 below).
Highlights
Drillhole A23-013 was drilled approximately 515m northwest of drillhole A23-012 and intersected significant copper
and molybdenum mineralization throughout the hole to a depth of 981.20m. A23-013 ended in molybdenum
mineralization and the most significant mineralized intervals included:
• 0.82% CuEq* over 773.20m (0.17% Cu, 0.1221% Mo and 1.91g/t Ag) from 208.00m to 981.20m.
• 0.44% CuEq* over 152.00m (0.38% Cu, 0.0056% Mo and 4.13g/t Ag) from 208.00m to 360.00m.
• 0.57% CuEq* over 170.00m (0.30% Cu, 0.0490% Mo and 2.78g/t Ag) from 360.00m to 530.00m.
• 1.04% CuEq* over 451.20m (0.05% Cu, 0.1883% Mo and 0.72g/t Ag) from 530.00m to 981.20m.
The complete set of results for A23-013 are summarized in Table 1 below.
Mr. Gendall, President and CEO commented: “A23-013 was drilled on a step-out of 515m to the northwest of A23-
012 to infill the area between the NW and SE side of the Aurora project. This hole was drilled at a higher elevation
to intersect greater copper mineralization in the upper levels of the drillhole. As predicted, we encountered 152m of
weakly enriched copper mineralization of 0.38% copper from 208m to 360m. Beyond this depth we continued to
encounter good copper equivalent mineralization to the end of the hole at 981.20m. We are very encouraged with
the results from drillhole A23-013 and will continue to trace the copper enrichment to the northeast with continued
drilling in 2024.”
Aurora Cu-Mo Project – Summary of Drill Results for A23-013
o Drill hole A23-013 (Figures 2, 3 and 4) commenced on October 19 and ended on November 28 at
981.20m. Coordinates are 8,565,904mN and 189,904mE at an elevation of 3022m. A23-013 was a
vertical hole drilled 515m NW of A23-012.
▪ 0 – 105.50m: Hornfels with moderate chalcopyrite and molybdenite mineralization.
Base of Oxidation at 172m.
▪ 105.50m to 361m: QEFBP (Quartz-eye-feldspar-biotite porphyry – Intermineral) with
weak quartz veining, moderate quartz-sericite alteration, and moderate chalcopyrite
and weak chalcocite-covellite mineralization and weak molybdenite.
▪ 361m to 397.4m: Polymictic breccia with moderate chalcopyrite and weak
molybdenite mineralization.
▪ 397.4m to 423.75m: Hornfels with weak chalcopyrite and molybdenum quartz
veinlets.
▪ 423.75m to 483.95m: Intrusive polymictic breccia with subangular hornfels clasts and
QEFP matrix. Moderate chalcopyrite and weak molybdenite mineralization.
▪ 483.95m to 520.60m: Very fractured/faulted intermineral quartz-eye-feldspar
porphyry (QEFP) with quartz-sericite alteration and weak chalcopyrite and
molybdenite quartz veins.
▪ 520.60m to 528.90m: Intermineral QEFP with weak chalcopyrite-molybdenite
mineralization.
▪ 528.90m to 588m: Early QEFP with FBP with moderate quartz-sericite+muscovite
alteration and moderate quartz-molybdenite veining and weak copper
mineralization.
▪ 588m to 660m: Intermineral QEFP with moderate sheeted quartz molybdenite
veining and moderate secondary biotite alteration plus fluorite.
▪ 660m to 944.80m Early QEFBP with moderate K-feldspar + secondary biotite
alteration, with quartz -sericite and muscovite overprint plus fluorite. Strong sheeted
quartz-molybdenite veins and weak disseminated chalcopyrite.
▪ 944.80m to 981.20m - EOH: Intermineral QEFBP with K-feldspar alteration and
muscovite-fluorite overprint. Moderate molybdenite and weak chalcopyrite
mineralization.
Table 1. Summary of Drill Results for Diamond Drillhole A23-013. 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 %
A23-013 0.00 208.00 208.00 Leached and partially leached porphyry 0.11
0.0038 1.46 0.14
208.00 981.20 773.20
Leached and partially leached/weak
enrichment/ primary mineralization in
porphyry and breccia 0.17
0.1221 1.91 0.82
Includes 208.00 530.00 322.00
Weak copper enrichment/Primary
mineralization in porphyry 0.34 0.0278 3.43 0.51
Includes 208.00 360.00 152.00
Weak copper enrichment/Primary
mineralization in porphyry 0.38 0.0056 4.13 0.44
360.00 530.00 170.00
Primary mineralization in breccia and
porphyry 0.30 0.0490 2.78 0.57
530.00 981.20 451.20 Primary mineralization in Porphyry 0.05 0.1883 0.72 1.04
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo, Cu and Ag values are uncut, and core
recovery is assumed to be 100% for the entire drilled length of A23-013 except for intervals from 0.00m to 33.00m and
484.00m to 498.00m where core recovery was below 50% due to leaching and faulting. 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, Cu and Ag values are uncut.
Table 2: A23-013 Diamond drillhole location, depth, orientation and inclination.
Hole Easting Northing Elevation Length Azimuth Inclination
ID m m m m Degrees Degrees
A23-013 189,904 8,565,904 3022 981.20 0 -90
Co-ordinates are in WGS84 Zone 19S.
Table 3. Summary of significant drill results for diamond drillholes A23-01 to A23-012. 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 %
A23-001 22.45 145.80 123.35 Oxidized/Mixed 0.49 0.0036 4.20 0.51
Includes 100.35 145.80 45.45 Enriched 0.64 0.0017 3.40 0.65
100.35 124.30 23.95 Enriched 0.87 0.0024 3.43 0.88
108.65 124.30 15.65 Enriched 1.09 0.0033 3.00 1.11
A23-002 208.00 422.40 214.40 Oxidized/Mixed/Primary 0.35 0.0114 3.95 0.41
Includes 244.00 296.00 52.00 Primary 0.52 0.0131 4.53 0.59
A23-003 38.00 702.30 664.30
Partially leached
/Mixed/Enriched/Primary 0.33 0.0483 3.23 0.58
Includes 132.00 350.00 218.00 Mixed sulphides/Enrichment 0.69 0.0162 5.65 0.77
206.00 350.00 144.00 Enriched 0.75 0.0097 5.87 0.80
258.00 350.00 92.00 Enriched 0.83 0.0071 6.81 0.87
522.00 702.30 180.30 Primary (Moly rich) 0.07 0.1284 0.73 0.74
A23-004 0.00 700.90 700.90 Leached/Mixed/Enriched/Primary 0.18 0.142 2.47 0.92
Includes 110.90 333.00 222.10 Mixed/Enriched/Primary 0.46 0.056 5.88 0.75
110.90 264.00 153.10 Mixed/Enriched 0.53 0.058 7.07 0.83
333.00 421.00 88.00 Primary (Molybdenum rich) 0.05 0.149 0.78 0.83
421.00 502.00 81.00 Primary (Molybdenum rich) 0.12 0.152 0.84 0.91
502.00 700.90 198.90 Primary (Molybdenum rich) 0.02 0.273 0.17 1.44
A23-005 130.00 188.00 58.00 Mixed/Enriched 0.43 0.054 3.38 0.71
188.00 302.00 114.00 Primary 0.14 0.076 1.38 0.54
302.00 472.00 170.00 Primary (Molybdenum rich) 0.1 0.11 1.05 0.67
472.00 693.40 221.40 Primary (Molybdenum rich) 0.03 0.259 0.95 1.38
Table 3 cont. Summary of significant drill results for diamond drillholes A23-01 to A23-012. 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 %
A23-006 91.00 708.50 617.50 Mixed/Enriched/Primary 0.17 0.148 1.82 0.94
Includes 91.00 127.00 36.00 Mixed/Enriched 0.62 0.031 9.10 0.78
321.00 708.55 387.55 Primary (Molybdenum rich) 0.07 0.205 0.74 1.14
A23-007 0.00 708.25 708.25 Partially Leached/Primary/Hornfels 0.25 0.0137 3.07 0.32
Includes 206.00 406.00 200.00 Primary/Hornfels 0.37 0.003 3.83 0.39
206.00 254.00 48.00 Primary/Hornfels 0.57 0.002 5.33 0.58
272.00 306.00 34.00 Primary/Hornfels 0.48 0.003 6.33 0.50
A23-008 3.10 703.65 700.55 Primary/Hornfels+Porphyry 0.10 0.0852 1.18 0.54
Includes 402.00 703.65 301.65 Primary/Porphyry 0.03 0.1548 0.26 0.84
A23-009 0.40 790.55 790.15 Primary/Hornfels+Breccia+Porphyry 0.27 0.0095 2.39 0.32
Includes 303.00 617.00 314.00 Primary/Hornfels+Breccia+Porphyry 0.37 0.0144 2.86 0.45
561.00 617.00 56.00 Primary/Porphyry + Breccia 0.52 0.0144 3.46 0.60
A23-010 0 1002.55 1002.55 Leached/Mixed/Enriched/Primary 0.20 0.0838 2.19 0.66
Includes 190.00 218.00 28.00 Mixed/Enriched 0.86 0.0015 8.41 0.94
190.00 315.00 125.00 Mixed/Enriched/Primary 0.43 0.0082 4.65 0.51
543.00 625.00 82.00 Primary - Breccia zone 0.37 0.0618 3.51 0.72
543.00 1002.55 459.55 Primary 0.09 0.1754 0.9 1.01
A23-011 3.10 1081.70 1078.60
Leached+Mixed & Primary
Mineralization/Hornfels+Porphyry 0.16 0.0606 1.69 0.49
Includes 111.00 1081.70 970.70
Mixed & Primary
Mineralization/Hornfels+Porphyry 0.17 0.0667 1.81 0.53
Includes 111.00 524.00 413.00
Mixed & Primary
Mineralization/Hornfels+Porphyry 0.28 0.0112 2.40 0.36
183.00 464.00 281.00
Mixed & Primary
Mineralization/Hornfels+Porphyry 0.31 0.0043 2.40 0.35
Includes 183.00 215.00 32.00
Mixed & Primary
Mineralization/Hornfels+Porphyry 0.44 0.0125 3.69 0.54
524.00 1081.70 557.70 Primary Mineralization/Porphyry 0.09 0.1078 1.38 0.66
Includes 716.00 1081.70 365.70 Primary Mineralization/Porphyry 0.07 0.1403 0.66 0.81
Table 3 cont. Summary of significant drill results for diamond drillholes A23-01 to A23-012. 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 %
A23-012 0.00 5.65 5.65 Overburden (not sampled) - - - -
5.65 887.60 881.95
Primary Mineralization/Hornfels +
Porphyry 0.18 0.0514 1.68 0.46
Includes 5.65 22.00 16.35
Primary Mineralization +
Enriched/Breccia 0.49 0.0499 6.53 0.80
Includes 5.65 192.00 186.35
Primary Mineralization/Hornfels +
Porphyry 0.15 0.0643 1.74 0.50
Includes 406.00 544.00 138.00 Primary Mineralization/Porphyry 0.45 0.0390 3.08 0.68
Includes 600.00 887.60 287.60 Primary Mineralization/Porphyry 0.07 0.0962 0.93 0.58
Includes 692.00 887.60 195.60 Primary Mineralization/Porphyry 0.06 0.1083 0.37 0.62
Includes 692.00 808.00 116.00 Primary Mineralization/Porphyry 0.07 0.1253 0.43 0.72
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo, Cu and Ag values are uncut, and core
recovery is assumed to be 100% for the entire drilled lengths of A23-01 to A23-012. 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, Cu and Ag values are uncut.
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 1.5 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
reported from 0.00m to 981.20m in A23-013 except for intervals form 0.00m to 33.00m and 484.00m to 498.00m where
core recovery was below 50% due to leaching and faulting.
New Breccia Zone and Copper Oxide Showings – East of Current Drilling
Results for samples taken across the 500m x 500m grid, 500m further to the southeast and northeast of the current
planned drilling, are still awaited. This area also overlies a similar magnetic anomaly that underlies the main porphyry area.
Grab samples collected in December across this NE area showed veined, brecciated and copper mineralization on surface
(Figures 6, 7 and 8).
Appointment of New Chief Financial Officer
DLP Resources has appointed a new Chief Financial Officer – Scott Davis, CPA CGA, as of January 01, 2024. Scott assumes
the CFO role from Robin Sudo, who is stepping down to focus more on administrative and land management roles for DLP .
We thank Robin Sudo for her time as CFO during the past 4 ½ years.
Scott Davis is a partner of Cross Davis & Company LLP Chartered Professional Accountants, a firm focused on providing
accounting and management services for publicly listed companies. Scott has over 20 years of experience working with
junior exploration public companies and has held several CFO positions with companies listed on the TSX Venture
Exchange. Scott’s experience consists of senior management positions, including Assistant Financial Controller with
Appleby, Auditor with Davidson & Company LLP Chartered Professional Accountants auditing junior exploration
companies, and Accounting Manager with Pacific Opportunity Capital Ltd.
We look forward to having Scott Davis as CFO moving into 2024 and beyond as we continue to develop our flagship
copper-molybdenum project, Aurora over the coming months.
Security Based Compensation Grants
The Company also announces that a total of 191,860 stock options (“Options”), 654,650 restricted share units ("RSUs")
and 1,162,795 deferred share units (“DSUs”) have been granted to certain directors and officers of the Company pursuant
to the Company’s long-term incentive plan.
The options are exercisable for a term of 5 years at an exercise price of $0.43. Each RSU and DSU entitles the holder to
acquire one common share of the Company on vesting. All RSUs will vest one year from the date of grant, and all DSUs will
vest on the date the awardees cease to be eligible persons under the Company’s long term incentive plan.
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 with A23-012 and A23-013
in red lettering.