Cranbrook, British Columbia, (Newsfile Corp.–Sep 11, 2020)– DLP Resources Inc. (TSXV:DLP) the wholly owned subsidiary of MG Capital Corporation is pleased to announce that a 33.7 line km Titan magnetotelluric (“MT”) ground geophysical survey by Quantec Geoscience has commenced over the DD, Moby Dick and NZOU properties.
Following on from the encouraging alteration noted in the intersection of the Sullivan Horizon in PAN-18-01-EX recently drilled by DLP on the DD property, see news release of August 06, 2020, additional follow-up MT geophysics will now be extended to the north and east of PAN-18-01 (see Figure 1 below). This 33.7 line km survey is planned to assist with identifying additional Sullivan-type zinc-lead-silver drill targets on the DD, Moby Dick and NZOU properties. Historic drilling of the Sullivan Horizon together with the intersection of distal indications to a Sullivan target in PAN-18-01 suggest further zinc-lead-silver targets exist on these properties. The additional MT data together with the interpretations based on recent geological sections will assist with the location of further drilling on the land package we own and have under option in a very favourable location, around and within the Panda Basin. The survey is expected to be completed by early October and final interpretations available mid to late October.
Drilling is also currently underway immediately to the SW of the above-mentioned properties on the Aldridge 1 property and to date drill hole AK20-01 has been completed to a depth of 1046m. The Sullivan Horizon was intersected at a depth of 893.4m and continued to 968m with trace sphalerite (zinc). From 968 to 988.7m the sediments are highly altered with quartz-sericite + albite and abundant pyrrhotite and trace sphalerite (zinc). Sampling has been completed across the Sullivan Horizon and the highly altered sediments and results are awaited. A small silicified, sphalerite rich zone of 20cm at 1031.8 to 1032m is included in the footwall sediments of the lower Aldridge Formation. The hole was stopped at 1048m.
Drilling of AK20-02 approximately 350m to the east of AK20-01 is currently in progress.
Ian Gendall, President of DLP commented: “Drilling of only two holes to date on the DD and Aldridge 1 properties has resulted in the intersection of the Sullivan Horizon with highly altered sediments, albeit with weak zinc mineralization at depths varying between 900 to 1500m. The Sullivan Horizon has never been intersected on the DD or Aldridge 1 properties previously and further drilling is warranted. Management believes that our recent drilling coupled with the additional 33.7 line km MT survey is very encouraging for further targeting Sullivan-type targets on the DD, NZOU and Moby Dick properties”
David L. Pighin, consulting geologist and co-founder of DLP Resources, is the qualified person (“QP”) of the Corporation 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, exploring for Base Metals and Cobalt. DLP is a wholly-owned subsidiary of MG Capital Corporation listed on the TSX-V, trading symbol DLP. Please refer to our web site www.dlpresourcesinc.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT: MG Capital Corporation & DLP Resources Inc.
Ian Gendall, President
Jim Stypula, Chief Executive Officer
Robin Sudo, Chief Financial Officer and Corporate Secretary
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.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “appears to”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although DLP has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.