Cranbrook, British Columbia, (Newsfile Corp. – September 29, 2022) DLP Resources Inc. (“DLP” or the “Company”) (TSXV:DLP) (OTCQB:DLPRF) announces receipt of drill results for the first 172.90m for the Aurora porphyry copper-molybdenum project in southern Peru (Figure 1). Hole A22-001 intersected 123.50m of 0.49% Cu, 36.49ppm Mo and 4.20ppm Ag from 22.45m to 145.80m (Table 1).
Aurora Cu-Mo Project – Summary of Initial Drill Results
Hole A22-001 was drilled to the NE of the mapped porphyry and hornfels contact at an angle of 70 degrees towards an azimuth of 170 degrees (Table 2, Figures 2,3 and 4). The hole to a depth of 172.90m intersected:
- Partially leached polymictic breccia from 0.5m to 22.45m.
- Mixed limonitic zone of partially leached sulphides consisting mainly of chalcopyrite and pyrite with copper oxides and secondary covellite and chalcocite on fractures in polymictic breccia with occasional quartz-eye-feldspar porphyry down to 61.60m.
- Mixed limonitic zone of partially leached sulphides (chalcopyrite and pyrite) in silicified siltstone, hornfels and brecciated hornfels with secondary covellite and chalcocite on sulphides and fractures down to 124.30m. Narrow 1-4m thick porphyry rock units cross-cut hornfels.
- Quartz-eye-feldspar porphyry from 124.30m to 135.33m with limonite after chalcopyrite and pyrite and chalcocite and native copper at base of oxidation zone around 128.80m.
- Silicified siltstone and hornfels with occasional porphyry intervals from 128.80m down to 172.90m with chalcopyrite and pyrite and secondary copper sulphides along fractures. A fault zone extends from approximately 145.80m to 172.90m.
Table 1. Summary of Initial Drill Results for Diamond Drill Hole A22-001. All grades are length-weighted averages of samples within the interval reported.
|145.80||172.90||21.10||# Fault zone/Mixed||0.23||68.79||1.16||0.27|
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% for the first 145.80m as the project is at an early stage of exploration and there is insufficient metallurgical data for estimation of metal recoveries.
# From 145.80m to 172.90m core recovery is estimated to be 78% of interval due to the fault zone and is “incomplete” and “not representative” of metal grades reported. Cueq value for this interval is “not representative”.
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.
1 Intervals are downhole drilled core lengths. Drilling data to date is insufficient to determine true width of mineralization. Assay values are uncut.
Table 2: A22-001 Diamond drill hole location, depth, orientation and dip.
Mr. Gendall President and CEO commented: “We are extremely encouraged with the initial results reported for the first 173m at Aurora and we look forward to receipt of results for the remainder of the hole. It is encouraging to see that we have encountered a well mineralized porphyry copper-molybdenum-silver system close to surface. Further drilling to 600m is planned for A22-002 to determine primary copper-molybdenum and silver grades at depth. We look forward to reporting the remainder of the results for A22-001 later in October”.
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 and NTW core. Logging and sampling are completed at a secured Company facility situated on the project site. Sample intervals are nominally 1.5 to 2m 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 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 to 145.80m. From 145,80m to 172.90m core recovery is estimated to be 78% of the total sampled interval and data maybe considered to be “incomplete” and “not representative” for this interval.
Aurora Project as 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 drill holes, 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 news release of May 18, 2021)
Salient historic drill hole 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 inDDA-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 64m @ 0.49% Cu and 0.087ppm 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.
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
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 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.