Nov 5, 2024

DLP Resources Intersects 339.35m of 0.76% CuEq at Aurora Project, Peru

Introduction:

DLP Resources Inc. (TSXV: DLP) has reported significant copper-molybdenum-silver mineralization from its Aurora porphyry project in southern Peru, highlighted by 339.35m at 0.76% CuEq from 722.00m.

Drill Results:

1058.35m @ 0.38% CuEq from 3.00m (entire hole mineralized) [A24-020]
874.35m @ 0.44% CuEq from 187.00m (higher grade zone) [A24-020]
339.35m @ 0.76% CuEq from 722.00m (best intercept) [A24-020]‍
284.00m @ 0.87% CuEq from 722.00m (highest grade zone) [A24-020]

Project Overview:

The Aurora Project is an advanced stage porphyry copper-molybdenum exploration project located in the Province of Calca, southeastern Peru. The property has seen limited historical drilling, with 13 holes totaling 3,900m drilled in 2001 and 2005 over an area of approximately 1000m by 800m.

Mineralization is hosted by quartz-feldspar porphyries intruded into slates-hornfels and pelitic sandstones of the Ordovician Sandia Formation. The project represents a significant copper-molybdenum-silver porphyry system with potential for both near-surface and deeper mineralization.

Program Details:

Drillhole A24-020 was collared approximately 135m southeast of previous hole A24-016, aiming to expand copper mineralization to the southeast. The hole intersected copper-silver and molybdenum mineralization from near-surface (3.00m) to the end of hole at 1061.35m. Mineralization styles include hornfels and porphyry-hosted mineralization, with the highest grades encountered in mineralized porphyry from 722.00m to the end of hole.

Understanding These Results:

The reported intersections represent significant mineralization over broad widths, with consistent grades throughout the entire 1058.35m hole length. The higher grade zone of 339.35m at 0.76% CuEq from 722.00m is particularly noteworthy, indicating growing potential for copper-molybdenum-silver mineralisation at depth.

These results expand the known mineralization footprint to the southeast and demonstrate the potential for a large-scale porphyry system at Aurora. The continuity of mineralization from near-surface to over 1km depth is encouraging for future resource delineation.

Management Commentary:

Ian Gendall, President and CEO of DLP Resources:

"Drillhole A24-020 has opened up the extension of the copper-molybdenum-silver mineralization to the southeast of Aurora and has yielded very good mineralization from surface to the end depth of 1061.35m. The drillhole was unfortunately stopped in molybdenum mineralization due to the maximum capacity of the drill rig. We have intersected very good copper-molybdenum-silver mineralization in all 20 drillholes drilled to date and we are very encouraged with advancing Aurora to an initial resource estimation by March 2025."

Next Steps & Catalysts:

DLP Resources plans to continue drilling at Aurora to further expand the mineralization footprint and define the extent of the porphyry system. The company is working towards an initial resource estimation, targeted for completion by March 2025. Additional drilling will likely focus on testing the depth extent of mineralization, as hole A24-020 ended in mineralization due to rig capacity limitations.

Commodity Outlook:

Copper remains a critical metal for the global energy transition, with demand expected to grow significantly in coming decades. Peru is a top global copper producer, and new discoveries like Aurora have the potential to follow neighbours in helping supply growing demand. The presence of molybdenum and silver as by-products enhances the project's potential.

Conclusion:

The latest results from Aurora demonstrate the potential for a significant copper-molybdenum-silver porphyry system. With consistent mineralization over broad widths and higher-grade zones at depth, the project shows interest. As DLP Resources advances towards an initial resource estimate, Aurora is emerging as a noteworthy copper exploration project in a premier mining jurisdiction.

Sources:

DLP Resources Drill Results Announcement

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Nov 6, 2024