Cranbrook, British Columbia, (Newsfile Corp. – July 11, 2022) DLP Resources Inc. (“DLP” or the “Company”) (TSXV:DLP) (OTCQB:DLPRF) announces receipt of drill permit for the Hungry Creek, 711 target zone and appoints Allan Frame to the Advisory Board. Drilling of 1800m off six drill pads on the 711-target zone is expected to commence in the next two weeks.
Hungry Creek – 711 Target Zone
The Hungry Creek property is comprised of 74 claims (Figure 1). The mineral claims cover just over 38,852.92 hectares. Geologically the property is hosted within the Mesoproterozoic Belt-Purcell basin and is being targeted for strata-bound Cu-Co-Ag analogous to other Belt-Purcell hosted deposits such as Sheep Creek, Spar Lake, Rock Creek, Montanore (Montana), and the Blackbird district (Idaho) – Figure 2.
The 711 Target zone at Hungry Creek will be the focus of the first six holes where very encouraging copper mineralization was reported from seven grab and two float samples (see DLP press release dated November 30, 2021). Copper up to 1.15% and anomalous silver of up to 3.51ppm together with anomalous cobalt (up to 117.6ppm) and barium (up to 4,274 ppm) were also reported (Figure 3).
Appointment of Allan Frame to Advisory Board
Al Frame has worked in the capital markets, in a variety of roles, including corporate finance, investment advisor and partner in Securities firms for 47 years. In addition, Al has been the lead underwriter for several junior resource companies IPO’s and subsequent financings. Al brings considerable knowledge and contacts through the capital markets and has sat on and chaired several committees for the Alberta Stock Exchange in the 1980’s and 1990’s.
Ian Gendall, President & CEO of DLP commented: “We are very pleased to have Al Frame accept the position on our Advisory Board. Al brings enormous value to the Company with his wealth of experience in raising millions of dollars for exploration companies over his 47 years in the Financial Services and Securities business”.
Figure 1: DLP Project areas with Hungry Creek and Copper Creek properties shown.
Figure 2. Hungry Creek and Copper Creek Claims Shown within Belt Purcell Supergroup Outcrops and Comparative Stratigraphy for Sediment Hosted Copper Deposits in NW Montana and N Idaho.
Figure 3: The 711 Target Zone at Hungry Creek
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, Chief Financial Officer and Corporate Secretary
Maxwell Reinhart, Investor Relations
Telephone: 250-426-7808
Email: iangendall@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email: robinsudo@dlpresourcesinc.com
Email: maxreinhart@dlpresourcesinc.com
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 Hungry Creek-Copper Creek properties in SW British Columbia.
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 Hungry Creek-Copper Creek properties in SW British Columbia.
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.