Announces Positive Phase II Results from its Blackie, Star and Porcher Property
3707‐1111 Alberni Street, Vancouver, British Columbia V6E 0A8
News Release
DELREY ANNOUNCES POSITIVE PHASE II RESULTS FROM ITS BLACKIE,
STAR AND PORCHER PROPERTIES
May 16th, 2019 CSE:DLRY | FSE:1OZ | OTC:DLRYF
DELREY METALS CORP. (CSE:DLRY, FSE:1OZ, OTC:DLRYF) (“Delrey” or the “Company”) is pleased to
announce results from a Phase II prospecting program recently completed on its wholly‐owned Star,
Porcher and Blackie properties located along tide‐water near Prince Rupert, British Columbia. A total of
125 rock samples were collected by Delrey Metals Corp. personnel from the three properties (Porcher ‐
61, Star ‐ 43, Blackie ‐ 21) with assays returning as high as 0.513% V205 (49.3% Fe, 4.01% Ti). Prospecting
focused on the strongest magnetic anomalies that were mapped during the Phase I airborne magnetic
surveys (see news release dated April 15, 2019), and in all cases ground truthing confirmed that these
anomalies are caused by variably mineralized vanadium‐rich titaniferous magnetite. The Company is
very encouraged by the consistency of V205, titanium and iron enrichment identified by the Phase II work
program on all three properties and has submitted five‐year area‐based permit applications which will
allow Delrey to establish up to 40 drill sites on the Blackie, Porcher and Star properties.
Blackie Highlights:
Selective outcrop sample results up to 0.513% V2O5, with 5 of the 21 samples returning >0.30%
V2O5, and 21 of the 22 samples returning >0.10% V2O5 (Fig. 1).1
Strong V2O5 enrichment was mapped over an approximately 800m x 300m area centered on the
magnetic anomaly identified by the Phase I survey.
Porcher Highlights:
Selective outcrop sample results up to 0.422% V2O5, with 11 of 61 rock samples returning
>0.20% V2O5 along a strike length of 1 km (Fig 2).1
An approximately 2.8km x 1.8km strong magnetic anomaly remains to be ground truthed in the
southern portion of the property (see news release dated April 15, 2019).
Star Highlights:
Assay results are highlighted by 11 of the 43 selective outcrop samples returning >47% Fe (up to
61.2%) from exposed northwest‐southeast oriented semi‐massive to massive magnetite
outcrops along a strike length of approximately 4.7km.1
V2O5 enrichment in massive magnetite samples returned as high as 0.10% V2O5.
Strong V‐in‐stream sediment results ranging from a low of 447 ppm up to 637 ppm V2O5, suggest
higher V2O5 concentrations in bedrock may occur elsewhere on the property below forest cover.
1Grab samples are selective in nature and not necessarily representative of the mineralization hosted on
the property.
Morgan Good, Delrey President and CEO stated, “The Delrey team is very pleased with our Phase II
results as the assays not only show excellent continuity with the previous Phase I geophysical anomalies,
but include some impressive vanadium, iron and titanium grades. A systematic approach to exploration
at Blackie, Porcher and Star has allowed us to put the second piece of the puzzle into place on our BC
assets. We’re optimistic we will be in a position to initiate our Phase III work program consisting of
diamond drilling this summer at our Blackie, Porcher and Star properties, further enhancing the value of
Delrey for its shareholders.”
Update on LOI with Triple Nine Resources/Four Corners Project
The Company is also pleased to report it has been working diligently to finalize negotiations on the
definitive option and joint venture agreements with Triple Nine Resources for the option to earn 80% of
The Four Corners Project in Newfoundland and Labrador. Delrey’s CEO Morgan Good, Director Mike
Blady, and Qualified Person Scott Dorion P.Geo., visited the Triple Nine team, as well as the project site
among other strategic locations last week and the Company expects to be in a position to sign such
agreements in the near future.
QA/QC Procedures
All rock samples were placed in polybags and locations marked in the field with labelled pink flagging
tape by Delrey Metals Corp. personnel. Sample notes for each sample were recorded using field‐ready
smartphones and GPS locations were recorded using handheld Garmin devices. Prior to shipment to ALS
Global’s sample preparation facility in Kamloops, British Columbia, blanks and pulp duplicates were
inserted at a ratio of approximately 1 in every 10 rock samples. Delrey is currently working with several
laboratories to develop a suitable vanadium standard which will allow the Company to test for
calibration errors on future projects. Limiting the chain of custody, the samples were dropped off at the
Kamloops preparation facility by the Delrey Metals Corp. field staff. Samples were prepared in Kamloops
by crushing the entire sample to 70% passing ‐2mm, riffle splitting off 1kg and pulverizing the split to
better than 85% passing 75 microns. After preparation in Kamloops, the prepared pulps were shipped to
ALS Global’s analytical laboratory in North Vancouver, British Columbia. The vanadium assays are
determined by ME‐MS85 lithium borate fusion and reported in parts per million (ppm) and converted by
the lab into V2O5 (%). The remaining analytes were determined using ME‐ICP61 four acid ICP‐AES. The
analytical results are verified with the application of industry standard Quality Control and Quality
Assurance (QA‐QC) procedures.
About Delrey
Delrey is a mineral exploration company focused on the acquisition, exploration and development of
mineral resource properties, specifically in the strategic energy minerals space. The Company recently
announced a letter of intent to acquire an 80% interest in the Four Corners Project located in
Newfoundland and Labrador. The Four Corners Project is an advance stage exploration project with
positive historic drilling, metallurgy, and development economics. The Company also recently purchased
the Star, Porcher, Peneece and Blackie Fe‐Ti‐V properties located along tidewater in western British
Columbia. Delrey will continue to review and acquire projects showing potential for materials used in
the energy storage and electric vehicle markets. The Company is based in Vancouver, British Columbia,
and is listed on the CSE under the symbol “DLRY”.
Qualified person
Scott Dorion, P.Geo., is the designated Qualified Person of the Company as defined by NI 43‐101 and has
reviewed and approved the technical information contained in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
DELREY METALS CORP.
“Morgan Good”
Morgan Good
President and Chief Executive Officer
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604‐620‐8904
W: www.delreymetals.com
Cautionary Note Regarding Forward‐Looking Statements
Certain statements contained in this news release, constitute “forward‐looking information” as such term is used in
applicable Canadian securities laws. Forward‐looking statements in this news release include, but are not limited
to, statements regarding the prospective establishment of 20 drill sites on the Company’s Blackie, Porcher and Star
properties, the initiation of the Company’s Phase III work program on its Blackie, Porcher and Star properties and
any enhanced value thereof, the anticipated signing of the definitive option and joint venture agreements with
Triple Nine Resources, and the continued pursuit by the Company to review and acquire projects showing potential
for materials used in the energy storage and electrical vehicle markets. Forward‐looking information is based on
plans, expectations and estimates of management at the date the information is provided and is subject to certain
factors and assumptions, including, but are not limited to, general business and economic uncertainties. Forward‐
looking information is subject to a variety of risks and uncertainties and other factors that could cause plans,
estimates and actual results to vary materially from those projected in such forward‐looking information. Factors
that could cause the forward‐looking information in this news release to change or to be inaccurate include, but are
not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in
delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays
in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of
mineral deposits, the possibility that results will not be consistent with the Company’s expectations, the Company’s
inability to execute the option and joint venture agreements with Triple Nine Resources, as well as the other risks
and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in
the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at
www.sedar.com. There can be no assurance that any forward‐looking information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, the
reader should not place any undue reliance on forward‐looking information or statements. The Company
undertakes no obligation to update forward‐looking information or statements, other than as required by
applicable law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts
responsibility for the adequacy or accuracy of this release.
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