Results for the first twelve drillholes, 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 on
Highlights
Drillhole A23-013 was drilled approximately 515m northwest of drillhole A23-012 and intersected significant copper and molybdenum mineralization throughout the hole to a depth of 981.20m. A23-013 ended in molybdenum mineralization and the most significant mineralized intervals included: 0.82% CuEq over 773.20m (0.17% Cu, 0.1221% Mo and 1.91g/t Ag) from 208.00m to 981.20m. 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. 1.04% CuEq over 451.20m (0.05% Cu, 0.1883% Mo and 0.72g/t Ag) from 530.00m to 981.20m.
Drill hole A23-013 commenced on
105.50m to 361m: QEFBP (Quartz-eye-feldspar-biotite porphyry - Intermineral) with weak quartz veining, moderate quartz-sericite alteration, and moderate chalcopyrite and weak chalcocite-covellite mineralization and weak molybdenite.
361m to 397.4m: Polymictic breccia with moderate chalcopyrite and weak molybdenite mineralization.
397.4m to 423.75m: Hornfels with weak chalcopyrite and molybdenum quartz veinlets.
423.75m to 483.95m: Intrusive polymictic breccia with subangular hornfels clasts and QEFP matrix. Moderate chalcopyrite and weak molybdenite mineralization.
483.95m to 520.60m: Very fractured/faulted intermineral quartz-eye-feldspar porphyry (QEFP) with quartz-sericite alteration and weak chalcopyrite and molybdenite quartz veins.
520.60m to 528.90m: Intermineral QEFP with weak chalcopyrite-molybdenite mineralization.
528.90m to 588m: Early QEFP with FBP with moderate quartz-sericite+muscovite alteration and moderate quartz-molybdenite veining and weak copper mineralization.
588m to 660m: Intermineral QEFP with moderate sheeted quartz molybdenite veining and moderate secondary biotite alteration plus fluorite.
660m to 944.80m Early QEFBP with moderate K-feldspar + secondary biotite alteration, with quartz -sericite and muscovite overprint plus fluorite. Strong sheeted quartz-molybdenite veins and weak disseminated chalcopyrite.
944.80m to 981.20m - EOH: Intermineral QEFBP with K-feldspar alteration and muscovite-fluorite overprint. Moderate molybdenite and weak chalcopyrite mineralization.
Quality Control and Quality Assurance
DLP Resources Peru S.A.C, a subsidiary of
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.
Appointment of New Chief Financial Officer
We look forward to having
Security Based Compensation Grants
The Company also announces that a total of 191,860 stock options ('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 pursuant to the Company's long-term incentive plan.
The options are exercisable for a term of 5 years at an exercise price of
Salient historic drillhole data of the
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.
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Email: iangendall@dlpresourcesinc.com
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward-looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to drilling on the
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things drill results expected from the
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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