DLP Resources drills 1.04% CuEq over 451.2 metres at Aurora, Peru

DLP Resources Inc. [TSXV-DLP; OTCQB-DLPRF] has received complete drill results for drill hole A23-013 on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first 12 drill holes, A22-001, A22-002, A22-003, A23-004, A23-005, A23-006, A23-007, A23-008, A23-009, A23-010, A23-011 and A23-012 were last released November 14, 2023.

Highlights: Drill hole A23-013 was drilled approximately 515 metres northwest of drill hole A23-012 and intersected significant copper and molybdenum mineralization throughout the hole to a depth of 981.20 metres.

A23-013 ended in molybdenum mineralization and the most significant mineralized intervals included 0.82% CuEq (copper equivalent) over 773.20 metres (0.17% Cu, 0.1221% Mo and 1.91 g/t Ag) from 208.00 metres to 981.20 metres; 0.44% CuEq over 152.00m (0.38% Cu, 0.0056% Mo and 4.13g/t Ag) from 208.00m to 360.00m; 0.57% CuEq over 170.00m (0.30% Cu, 0.0490% Mo and 2.78g/t Ag) from 360.00m to 530.00m; and 1.04% CuEq over 451.20m (0.05% Cu, 0.1883% Mo and 0.72g/t Ag) from 530.00m to 981.20m.

Mr. Gendall, President and CEO commented: “A23-013 was drilled on a step-out of 515 metres to the northwest of A23-012 to infill the area between the NW and SE side of the Aurora project. This hole was drilled at a higher elevation to intersect greater copper mineralization in the upper levels of the drill hole. As predicted, we encountered 152 metres of weakly enriched copper mineralization of 0.38% copper from 208 metres  to 360 metres. Beyond this depth we continued to encounter good copper equivalent mineralization to the end of the hole at 981.20 metres. We are very encouraged with the results from drill hole A23-013 and will continue to trace the copper enrichment to the northeast with continued drilling in 2024.”

New Breccia Zone and Copper Oxide Showings – East of Current Drilling: Results for samples taken across the 500m x 500m grid, 500m further to the southeast and northeast of the current planned drilling, are still awaited. This area also overlies a similar magnetic anomaly that underlies the main porphyry area. Grab samples collected in December across this NE area showed veined, brecciated and copper mineralization on surface.

DLP Resources appointed a new Chief Financial Officer – Scott Davis, CPA CGA, as of January 01, 2024.

The company also announces that a total of 191,860 stock options, 654,650 restricted share units (RSUs) and 1,162,795 deferred share units (DSUs) have been granted to certain directors and officers of the company under the company’s long-term incentive plan.

The options are exercisable for 5 years at an exercise price of $0.43. Each RSU and DSU entitles the holder to acquire one common share of the company on vesting. All RSUs will vest one year from the date of grant, and all DSUs will vest on the date the awardees cease to be eligible persons under the Company’s long term incentive plan.

Aurora Project is an advanced stage porphyry copper-molybdenum exploration project in the Province of Calca, SE Peru. The Aurora Project was previously permitted for drilling in 2015 but was never executed. Thirteen historical drill holes, drilled in 2001 and 2005 totaling 3,900 metres 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 13 holes tested the enriched copper zone and only one hole drilled deep enough to test the primary copper and molybdenum zone.

Salient historic drill hole data of the Aurora Project are 190m of 0.57% Cu, 0.008% Mo in DDA-1 with a high-grade intercept of 20m of 1.01% Cu related to a supergene enrichment zone of secondary chalcocite;142m of 0.5% Cu, 0.004% Mo in DDA-3;71.7m of 0.7% Cu, 0.007% Mo in DDA-3A; and one of the historical holes ABC-6 drilled on the edge of the system intersected 78m of 0.45% Cu and 0.107% Mo.

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 13 holes never fully tested the oxide and secondary enrichment zone and/or the primary copper zone at depth encountered in DDA-01.