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Peru Mining 2024 Full Publication – August 30, 2024
Can you introduce our readers to DLP Resources (DLP)?
DLP is listed on the TSXV and the OTCQB in the US. We have a strong board with
members from Ascot Resources and Osisko Mining to name but a few. Fully diluted,
we have 124.8 million shares outstanding. Our flagship project is the Aurora
porphyry copper-molybdenum project located 60 km north of Cuzco in Southern
Peru. Aurora is an advanced stage exploration project. Our other project is Esperanza,
a greenfield project outside of Arequipa. We also have copper-silver-cobalt
and zinc projects in BC, but our focus is Peru.
Can you provide an overview of your flagship Aurora project?
Aurora was first drilled by Bear Creek Mining in 2001 and Vena in 2005. Approximately
3,900 m of drilling was performed. The potential of the project was underestimated
because most of the drilling was shallow, reaching depths of only 300-400 m.
We acquired the project in 2021 and have performed deep drilling down to
1,000 m. We commenced the current drill program in August 2022 with three drill
holes. In 2023 we completed 10 holes on the project. In total we have performed
9,910 m of drilling. We have a program in place for 2024 to drill 10 holes and
10,000 m. We are currently in a round of financing seeking to raise C$4-5 million
to complete the proposed drilling. The Aurora project is in an early stage of development,
and the goal is to advance it to the point where it has a defined mineral
resource by 2025. We also have an excellent relationship with the surrounding
Parobamba community.
What are the highlights from the current drill campaign?
All holes to date have intersected good copper and molybdenum mineralization
from the top to bottom of the holes. The Aurora deposit has some of the best
molybdenum grades in the world, and it is considered both a copper and molybdenum
project.
We intersected intervals of over 700 m at 0.5% CuEq, and 970 m at 0.3% CuEq.
The last hole returned 773 m at 0.82% CuEq.
In February 2024, we expanded the area by 500-600 m. We identified surface
outcrop rock samples with good copper, molybdenum, and silver values in the
northeast of the property. We will be expanding to the southeast and northeast
of Aurora during 2024.
Can you introduce your Esperanza project?
Esperanza is an early stage, 100% DLP owned porphyry copper project. This
year we started with a mapping and sampling program. We have also performed
airborne imagery and identified alteration patterns; this will be combined with
groundwork and, potentially, geophysics. The intention of the program is to bring
Esperanza to a point of being drill ready by the end of 2024.