DLP RESOURCES INTERSECTS 301.65M OF 0.56 % CUEQ* WITHIN A 700.55M INTERVAL OF 0.40% CUEQ* ON THE AURORA PROJECT IN SOUTHERN PERU
DLP Resources Inc. has received complete drill results for drill holes A23-007 and A23-008 on the Aurora porphyry copper-molybdenum project in southern Peru.
Results for the first six drillholes, A22-001, A22-002, A22-003, A23-004, A23-005 and A23-006 were released on December 05, 2022, January 05, 2023, May 02, 2023, June 01, 2023 and June 12, 2023 (see DLP Resources Inc. news releases and Table 3 and 4 below).
Highlights
Drillhole A23-008 was drilled approximately 300m SE of drillhole A23-007. A23-007 intersected significant molybdenum-copper mineralization throughout the hole to a depth of 703.65m where it ended in very good molybdenum mineralization. The most significant mineralized intervals included:0.40% CuEq* over 700.55m (0.10% Cu, 0.0852% Mo and 1.18% Ag) from 3.1m to 703.65m.0.56% CuEq* over 301.65m (0.03% Cu, 0.1548% Mo and 0.26g/t Ag) from 402m to 703.65m.
The complete set of results for A23-008 are summarized in Table 1 below.
Drillhole A23-007 was drilled approximately 237m west of drillhole A23-006 on the contact of the hornfels with the intrusive porphyry. A23-007 intersected significant molybdenum-copper mineralization throughout the hole to a depth of 708.25m. This drillhole also ended in very good molybdenum mineralization and the most significant intervals included:0.33% CuEq* over 708.25m (0.25% Cu, 0.0137% Mo and 3.07g/t Ag) from 0m to 708.25m.0.61% CuEq* over 48.00m (0.57% Cu, 0.0020% Mo and 5.33g/t Ag) from 206m to 254m.
The complete set of results for A23-007 are summarized in Table 1 below.
Results from drillhole A23-007 confirms extensive copper-molybdenum mineralization across approximately 685m of the northwestern extent of the Aurora project.
Mr. Gendall, President and CEO commented: "A23-007 was drilled on a step out of 237m from A23-006 to define the western boundary of the porphyry Cu-Mo mineralization. This hole has now confirmed we have an east-west molybdenum-copper-silver mineralized zone of at least 685m. The eastern limit is still open. We continue to intersect very encouraging copper-molybdenum mineralization at Aurora and the downdip extension is open, as are the northern, southern and eastern extents. Drilling of A23-009 is now ongoing on a large step-out of approximately 868m m to the southeast of A23-007 and we have, as expected, cut a mineralized porphyry, in A23-009 at 12.90m. Assay results for A23-009 which ended at 790.55m are awaited and we are very encouraged with early mineralized porphyry intersections observed in A23-009."
Aurora Cu-Mo Project - Summary of Drill Results for A23-007 and A23-008
A23-007
Hole A23-007 was drilled at an angle of -70 degrees towards an azimuth of 140 degrees (Table 2, Figures 2, 3 and 4). The logged geology is summarized as follows:0m - 99.00m: Partially leached hornfels with minor amounts of chalcopyrite, pyrrhotite, pyrite and trace molybdenite.99.00m - 206.00m: Leached zone with trace chalcopyrite, molybdenite and minor amounts of pyrrhotite and pyrite.206.00m - 406.00m: Hornfels with a mixed zone of pyrrhotite, chalcopyrite, pyrite and trace molybdenite. 406.00m - 639.50m: Late intermineral quartz-eye-feldspar-biotite porphyry with moderate quartz-sericite and intermediate argillic alteration overprint. Mineralization includes chalcopyrite and trace molybdenite.639.50 - 708.25m: Hornfels with chalcopyrite, molybdenite, pyrrhotite and pyrite.
A23-008
Hole A23-008 was drilled at an angle of -70 degrees towards an azimuth of 120 degrees (Table 2, Figures 2, 3 and 4). The logged geology is summarized as follows:0m - 3.10m: No core recovered.3.10m - 188.55m: Slates and hornfels with chalcopyrite, molybdenite and moderate amounts of pyrrhotite and pyrite.188.55m - 404.00m: Intermineral quartz-eye-feldspar-biotite porphyry with moderate quartz-sericite alteration and weak intermediate argillic overprint. Mineralization includes moderate amounts of molybdenite and chalcopyrite. 404.00m - 703.65m: Intermineral quartz-eye-feldspar-biotite porphyry with moderate quartz-sericite, weak potassic and intermediate argillic alteration overprint plus fluorite in veins. Mineralization includes high amounts of molybdenite and moderate chalcopyrite.
Summary of Drill Results for Diamond Drillhole A23-007 and A23-008. All grades are length-weighted averages of samples within the interval reported.
Hole From To Interval1 Description Cu (total) Mo Ag Cueq* ID m m m % % g/t % A23-007 0 708.25 708.25 Partially Leached/Primary/Hornfels 0.25 0.0137 3.07 0.33 Includes 0 99 99 Partially leached/Hornfels 0.30 0.0004 4.91 0.34 99 206 107 Leached Hornfels 0.18 0.0004 3.54 0.21 206 406 200 Primary/Hornfels 0.37 0.0030 3.83 0.42 Includes 206 254 48 Primary/Hornfels 0.57 0.0020 5.33 0.61 254 272 18 Primary/Hornfels 0.24 0.0032 1.78 0.26 272 306 34 Primary/Hornfels 0.48 0.0030 6.33 0.53 306 356 50 Primary/Hornfels 0.23 0.0034 1.91 0.24 356 378 22 Primary/Hornfels 0.50 0.0030 5.65 0.55 406 639.5 233.50 Primary/Porphyry 0.17 0.0146 1.88 0.19 639.5 708.25 68.75 Primary/Hornfels 0.18 0.0814 1.51 0.19 A23-008 0 3.10 3.10 No core Recovered - - - - 3.1 703.65 700.55 Primary/Hornfels+Porphyry 0.10 0.0852 1.18 0.40 includes 3.1 39 35.90 Primary/Hornfels 0.21 0.0035 2.26 0.24 123 188.55 65.55 Primary/Hornfels 0.23 0.0086 5.41 0.30 402 703.65 301.65 Primary/Porphyry 0.03 0.1548 0.26 0.56
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo values are cut to 0.5% and Cu and Ag values are uncut and recovery is assumed to be 100% for the entire drilled length of A23-007 and A23-008. The project is at an early stage of exploration and conceptual recoveries of Cu 85%, Mo 82%, and Ag 75% are assigned to the CuEq calculations. Conversion of metals to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal are added to the copper grade. The formula for this is: CuEq % = Cu% + (Mo% * (Mo recovery / Cu recovery) * (Mo $ per lb / Cu $ per lb) + (Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623))
*Copper equivalent calculations use 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. Mo values are cut to 0.5% and Cu and Ag values are uncut.
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 from 0m to 708.25m in A23-007 and 3.1m to 703.65m in A23-008.
Aurora Project
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 drillholes, 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 Resources Inc. news release of May 18, 2021)
Salient historic drillhole 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 in DDA-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 78m @ 0.45% Cu and 0.107% 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.
Table 3: Aurora Drill Results for Holes A23-001 to A23-003 Hole From To Interval1 Description Cu (total) Mo Ag CuEq* ID m m m % ppm ppm % A22-001 0.5 22.45 0.5 Partially Leached 0.12 51.23 2.98 0.16 22.45 388 365.55 Oxidized/Mixed/Primary 0.33 114.16 3.64 0.33 Includes 22.45 145.8 123.35 Oxidized/Mixed 0.49 36.49 4.20 0.54 Includes 100.35 145.8 45.45 Enriched 0.64 17.41 3.40 0.67 Includes 100.35 124.3 23.95 Enriched 0.87 23.7 3.43 0.87 Includes 108.65 124.3 15.65 Enriched 1.09 32.75 3.00 1.10 145.8 172.9 21.1 #Fault zone/Mixed 0.23 68.79 1.16 0.27 172.9 388 215.1 Primary 0.24 167.96 3.47 0.33 Includes 298.85 326 27.15 Primary 0.48 31.15 7.01 0.55 Includes 366 388 22 Primary - Mo rich 0.21 573.45 1.43 0.42 Hole From To Interval1 Description Cu (total) Mo Ag CuEq* ID m m m % ppm ppm % A22-002 0.10 89.40 89.30 Leached 0.04 48.38 0.55 0.04 89.40 208.00 118.60 Partially Leached 0.22 67.24 2.53 0.24 208,00 422.40 214.40 Oxidized/Mixed/Primary 0.35 113.88 3.95 0.41 Includes 244.00 296.00 52.00 Primary 0.52 130.55 4.53 0.53 422.40 479.00 56.60 Primary (Late Porphyry) 0.09 72.09 1.29 0.10 479.00 561.60 82.60 Primary - Mo rich 0.19 349.49 1.34 0.20 Hole From To Interval1 Description Cu (total) Mo Ag CuEq* ID m m m % ppm ppm % A22-003 2.70 38.00 35.3 Partially leached 0.12 48.89 1.17 0.14 38.00 702.30 664.3 Partially leached /Mixed/Enriched/Primary 0.33 483.14 3.23 0.52 Includes 38.00 132.00 94.00 Partially leached with sulphides 0.21 103.24 3.78 0.28 Includes 132.00 350.00 218.00 Mixed sulphides/Enrichment 0.69 161.77 5.65 0.79 Includes 206.00 350.00 144.00 Enriched 0.75 96.52 5.87 0.83 Includes 258.00 350.00m 92.00 Enriched 0.83 71.07 6.81 0.91 Includes 350.00 522.00 172.00 Primary (intermineral) 0.22 258.80 2.47 0.33 Includes 522.00 702.30 180.30 Primary (Moly rich) 0.07 1283.78 0.73 0.51
Table 4: Aurora Drill Results for Holes A23-004 to A23-006
Hole From To Interval1 Description Cu (total) Mo Ag CuEq* ID m m m % % g/t % A23-004 0 700.9 700.9 Leached/Mixed/Enriched/Primary 0.18 0.142 2.47 0.70 Includes 0 34 34 Leached 0.04 0.064 1.07 0.27 34 110.9 76.9 Partially leached 0.19 0.066 2.83 0.46 110.9 333 222.1 Mixed/Enriched/Primary 0.46 0.056 5.88 0.72 Includes 110.9 264 153.1 Mixed/Enriched 0.53 0.058 7.07 0.86 333 421 88 Primary (Molybdenum rich) 0.05 0.149 0.78 0.56 421 502 81 Primary (Molybdenum rich) 0.12 0.152 0.84 0.64 502 700.9 198.9 Primary (Molybdenum rich) 0.02 0.273 0.17 1.07 Hole From To Interval1 Description Cu (total) Mo Ag CuEq* ID m m m % % g/t % A23-005 0 693.4 693.4 Leached/Mixed/Enriched/Primary 0.11 0.144 1.95 0.64 Includes 0 20 20 Leached 0.03 0.092 23.23 0.58 20 130 110 Partially leached 0.12 0.059 2.79 0.36 130 188 58 Mixed/Enriched 0.43 0.054 3.38 0.66 188 302 114 Primary 0.14 0.076 1.38 0.42 302 472 170 Primary (Molybdenum rich) 0.10 0.11 1.05 0.50 472 693.4 221.4 Primary (Molybdenum rich) 0.03 0.259 0.95 0.95 Hole From To Interval1 Description Cu (total) Mo Ag CuEq* ID m m m % % g/t % A23-006 0 14.7 14.7 No core recovered - - - - 14.7 91 76.3 Partially leached 0.10 0.061 3.00 0.33 91 708.5 617.5 Mixed/Enriched/Primary 0.17 0.148 1.82 0.69 Includes 91 127 36 Mixed/Enriched 0.62 0.031 9.10 0.80 321 708.55 387.55 Primary (Molybdenum rich) 0.07 0.205 0.74 0.78 500 708.55 208.55 Primary (Molybdenum rich) 0.08 0.260 0.86 0.98
Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo values are cut to 0.5% and Cu and Ag values are uncut and recovery is assumed to be 100% for the entire drilled length of A23-007 and A23-008. The project is at an early stage of exploration and conceptual recoveries of Cu 85%, Mo 82%, and Ag 75%. are assigned to the CuEq calculations. Conversion of metals to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal are added to the copper grade. The formula for this is: CuEq % = Cu% + (Mo% * (Mo recovery / Cu recovery) * (Mo $ per lb / Cu $ per lb) + (Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623))
*Copper equivalent calculations use 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. Mo values are cut to 0.5% and Cu and Ag values are uncut.Figure 1: DLP Project areas in Peru with Aurora Project Shown.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6456/174509_637bff11b4008a77_001full.jpgFigure 2: Aurora Project - Simplified geology showing historic drilling and drilling by DLP in 2022-2023 with A23-007, A23-008, A23-009 and A23-010 (in progress) highlighted in red numbering.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6456/174509_637bff11b4008a77_002full.jpgFigure 3: Aurora Project - WSW-ENE section showing positions of historic drilling and current DLP drillholes numbered in red. Downhole values for copper and molybdenum are shown as bar graphs for assigned intervals with Cu % on right and Mo ppm on left of drillhole.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6456/174509_637bff11b4008a77_003full.jpgFigure 4: Aurora Project - NW-SE section showing positions of historic drilling and current DLP drillholes numbered in red. Downhole values for copper and molybdenum are shown as bar graphs for assigned intervals with Cu % on right and Mo ppm on left of drillhole.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6456/174509_637bff11b4008a77_004full.jpg
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.
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