DLP Resources Inc.
OPPORTUNITY FOR DISCOVERY
DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia, Canada and Peru, exploring for Base Metals and Cobalt and is listed on the TSX-V, trading symbol DLP and on the OTCQB, trading symbol DLPRF.
The Company’s geological strategy is a culmination of David Leo Pighin’s lifetime work with Cominco and other exploration companies primarily in southeastern B.C. Because of David Pighin’s intellectual contribution and his desire to make an economic discovery in this region, the founders and partners agreed to name this company in David Leo Pighin’s recognition
To design, implement and manage cost effective and successful exploration programs with the objective of building shareholder value through mineral discoveries in the prolific Purcell Basin Belt, one of the world’s foremost geological and mining jurisdictions.
Highlights – 2022
- Drilled one-hole MD22-01 for a total of 1305 metres on the Sullivan-type Zn-Pb-Ag target on the Moby Dick project.
- The temporary abandonment of Hole MD22-01 on Moby Dick was a disappointment considering the depth to which we drilled with hydrothermal sericite alteration in the last 50m. A re-evaluation of the structural and geophysical magnetotelluric (MT) data was done based on the downhole information and continued drilling of three MT anomalies is being considered for 2023.
- Closed a non-brokered private placement of 2,120,000 flow through (FT) shares at a price of $0.25 per FT Share for gross proceeds of $530,000 for the Hungry Creek and Copper Creek copper projects.
- Obtained a drill permit for 6 holes on the Hungry Creek copper-cobalt project and completed five holes for a total of 1442 metres.
- Obtained a drill permit for five holes on the Copper Creek project and 1 hole was drilled in the summer for a total of 386.16m. Additional drilling of the remaining four holes is planned for the summer of 2023.
- Completed Aster alteration mapping over the Copper Creek Project.
- Follow-up prospecting from the Hungry Creek drilling encountered copper in quartzites of the middle Creston Formation over 12km.
- Expenses incurred by the Company on Hungry Creek and Copper Creek, copper-cobalt projects, may qualify for the 30% Critical Mineral Exploration Tax Credit (“CMETC”), as provided for in the Canadian federal budget of April 7, 2022. For more information on the CMETC, see the annex on tax measures proposed in the budget available at https://budget.gc.ca/2022/report-rapport/tm-mf-en.html.
- Staked 4600 hectares over a copper-molybdenum target – Esperanza in the Paleocene porphyry belt in southern Peru.
- Closed a non-brokered private placement of 4,358,800 units at a price of $0.25 per Unit for gross proceeds of $1,089,700 for the Aurora copper-molybdenum project in southern Peru and general office and operating requirements.
- Completed drilling of three holes on the Aurora project for a total of 1651.9 metres. Results received for the first two holes.
o 123.35m of 0.54% CuEq* (0.49% Cu, 36.49ppm Mo and 4.20g/t Ag) from 22.45m to 145.80m in Hole A22-001 on the Aurora Project.
o 214m of 0.43% CuEq* (0.35% Cu, 113.88ppm Mo and 3.95g/t Ag) from 179.2m to 388m in Hole A22-002 on the Aurora Project.
*Copper-equivalence is calculated as: CuEq (%) = Cu (%) + [3.55 × Mo (%)] + [0.0095 × Ag (g/t)], utilizing metal prices of Cu – US$3.34/lb, Mo – US$11.86/lb and Ag – US$21.87/oz.
- Allan Frame appointed to a position of Director of Business Development to assist management with the growth of DLP.
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The DD-Panda-Moby Dick and NZOU mineral tenures are located in the Purcell range of the Columbia Mountains in the Fort Steele Mining Division.
Peru Project – Aurora
Aurora is a porphyry copper-molybdenum project totaling 400 Ha located 65km North of Cusco near the town of Parabamba in Southern Peru.