DLP Resources intersects 59.70m of 0.40% Cu, Engages AMC Consultants to do the Preliminary Resource Estimate on the Aurora Project & Extends Warrants
DLP Resources intersects 59.70m of 0.40% Cu, Engages AMC Consultants to do the
Preliminary Resource Estimate on the Aurora Project & Extends Warrants
Cranbrook, British Columbia, (Newsfile Corp. – October 09, 2024) DLP Resources Inc. (“DLP” or the
“Company”) (TSXV:DLP) (OTCQB:DLPRF) announces receipt of complete drill results for drillhole A24-
019A on the Aurora porphyry copper-molybdenum-silver project in southern Peru. (Figure 1).
Results for the first 18 drillholes, were last released between January 04 and September 26, 2024
(see DLP Resources Inc. , news releas e of January 04, 2024, June 25, 2024 , August 15 , 2024, and
September 26, 2024, for results for the previous eighteen drillholes).
Highlights
• Drillhole A24-019A was drilled off the same drill platform as A24-017 with the aim of expanding
the copper mineralization in the north east. This drillhole intersected copper mineralization
from 34.30m extending to 168m in mineralized hornfels. This hole was a redrill of A20 -019
which was stopped in a near surface fault at 66.88m. Unfortunately, A24-019A also entered the
fault zone, which resulted in the hole being stopped at 267.45m. Results were as follows:
o 0.21% Cu over 133.70m from 34.30m to 168.00m.
o 0.40% Cu over 59.70m from 34.30m to 94.00m.
The complete set of results for A24-019A are summarized in Table 1 below.
• DLP has engaged AMC Consultants to initiate and complete the preliminary NI43-101 compliant
resource estimation on Aurora. AMC are renowned international mining consultants whose
clients include the world’s leading mining and exploration companies, corporate advisors,
financial institutions, and insurance companies.
Mr. Gendall, President and CEO commented: “ We are excited with the near surface copper-silver
mineralization in the northeast and east of Aurora. Four holes drilled in the east and northeast in
2024, have all intersected good near surface copper-silver mineralization expanding the copper-silver
shell over the project area . In addition to continued drilling , to expand both copper -silver and
molybdenum mineralization at Aurora , we have also engaged AMC Consultants to initiate the
preliminary resource estima tion on Aurora . It is expected that AMC will have the preliminary
resource estimate completed by March 2025”.
Aurora Cu-Mo Project – Summary of Drill Results for A24-019A
Drill hole A24-019A (Figures 2 and 3) commenced on August 22, 2024 at an inclination of -70 degrees on
an azimuth of 200 degrees and ended on September 02, at 267.45m. Summary geology is as follows:
o 0-34.30m: No core recovered - Overburden
o 34.30 – 94.00m: Mineralized hornfels with copper enrichment.
o 94.00m – 267.45m: Weakly mineralized hornfels.
Table 1. Summary of Drill Results for Diamond Drillhole A24-019A. 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 %
A24-019A 34.30 168.00 133.70 Mineralized hornfels 0.21 0.0001 0.98 0.22
Includes 34.30 94.00 59.70
Mineralized hornfels - copper
enrichment 0.40 0.0001 0.58 0.41
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 A24-019A. 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, Cu and Ag values are uncut.
Table 2: A24-019A Diamond drillhole location, depth, orientation and inclination.
Hole Easting Northing Elevation Length Azimuth Inclination
ID m m m m Degrees Degrees
A24-019A 190,192 8,566,398 2837 267.45 200 -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 A24-019A from 34.30m to
168m.
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
A24-017 to A24-022 highlighted in red.
Figure 3: Aurora Project – Simplified SW-NE section 1-1 showing DLP and historic drillholes. Mo is on
the left and the Cu is within the drillhole column.
Extension of Warrants
DLP announces that it intends to extend the term of an aggregate of 4,358,800 common share
purchase warrants (the "Warrants") issued as part of the Company's private placement that closed in
two tranches on November 22, 2022 and December 15, 2022. The Warrants are exercisable at a price
of $0.40 and currently expire on November 22, 2024 and December 15, 2024, respectively.
Subject to the approval of the TSX Venture Exchange (the “Exchange”), the term of the Warrants will
be extended to November 22, 2025 and December 15, 2025, respectively. All other terms of the
Warrants will remain the same.
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.