DLP Receives Drill Permits at Esperanza; First-Ever Drill Program to Commence September 18, 2026
DLP is set to drill a 3,000 m maiden program at the undrilled Esperanza project, targeting both near-surface copper oxides and a large porphyry system.
Rhea-AI Summary
DLP Resources (DLPRF) has received all required permits to begin its maiden diamond drill program at the 100%-owned Esperanza copper-gold-molybdenum project in southern Peru, with drilling expected to start on September 18, 2026.
The first-ever drill campaign at Esperanza will comprise approximately 3,000 metres in seven holes: four shallow holes (up to 150 m) testing a 300 m x 700 m near-surface copper oxide zone, and three deep holes (800 m each) targeting a large porphyry copper-gold-molybdenum system beneath a 5.0 km x 2.5 km magnetic anomaly. Surface trenching in the oxide zone has returned intervals such as 54 m at 1.53% Cu and 86 m at 0.73% Cu, while rock sampling over the broader system has yielded up to 550 g/t Ag with 4.548% Cu and 7.795 g/t Au with 0.780% Cu. Esperanza covers 22,500 hectares and lies about 35 km southwest of Freeport-McMoRan's Cerro Verde mine within the southern Peru copper belt.
Positive
- All permits secured to construct drill platforms and commence diamond drilling at Esperanza as of September 10, 2026.
- 3,000 m maiden program in seven holes testing both near-surface copper oxides and a deep porphyry target starting September 18, 2026.
- High-grade oxide trenching with intervals including 54 m at 1.53% Cu and 86 m at 0.73% Cu from surface.
- Strong porphyry surface geochemistry with rock chips up to 550 g/t Ag with 4.548% Cu and 7.795 g/t Au with 0.780% Cu.
- Large land package of 22,500 hectares in a major copper district ~35 km from the Cerro Verde mine.
- Aurora PEA economics show after-tax NPV8% of US$2,703 million and 18.5% IRR over a 17.5-year mine life.
Negative
- No metallurgical test work has been completed yet on the Esperanza copper oxide mineralisation.
- Esperanza has never been drilled before, so there is no subsurface resource or reserve estimate for the project.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights
All required permits received – DLP has received the necessary permits and authorizations to commence its maiden diamond drill program at the
100% -owned Esperanza copper-gold-molybdenum project in southern Peru.Drilling to commence September 18, 2026 – rig and supporting equipment will mobilize to site over the coming days, with the first hole expected to be collared on September 18, 2026.
First drill hole at Esperanza – District-scale, 22,500 Ha property has previously never been drilled. DLP will be the first company to drill test the project.
Approximately 3,000 metres in seven holes testing two distinct targets:
Near-surface copper oxide zone – four shallow holes to a maximum of 150 metres each, testing the 300 m x 700 m exotic copper oxide zone that returned trench results including 54 m of
1.53% Cu (including 10 m of2.29% Cu), 86 m of0.73% Cu (including 48 m of1.03% Cu) and 96 m of0.54% Cu (including 58 m of0.75% Cu) (see news releases dated March 9, 2026 and March 16, 2026).Main porphyry copper-gold-molybdenum target – three deep holes of 800 metres each, testing the interpreted porphyry core beneath the 5.0 km x 2.5 km magnetic anomaly, supported by surface results of up to 550 g/t Ag with
4.548% Cu, 7.795 g/t Au and4.558% Cu (see news releases dated June 25, 2026 and July 28, 2026).
Strategically positioned in a multi-billion-tonne copper district – Esperanza is located approximately 35 km southwest of Freeport-McMoRan's Cerro Verde mine, one of the largest copper deposits in the world, and immediately south of the Chapi copper mine, within the southern Peru copper belt that also hosts Quellaveco, Cuajone and Toquepala.
Cranbrook, British Columbia--(Newsfile Corp. - September 10, 2026) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (FSE: J8C) ("DLP" or the "Company") is pleased to announce that it has received all necessary permits to commence drilling at its
The maiden program comprises approximately 3,000 metres of diamond drilling in seven holes and is designed to test two distinct and complementary targets within the same system: the near-surface copper oxide zone defined by high-grade trenching, and the main porphyry copper-gold-molybdenum target interpreted at depth beneath the 5.0 km x 2.5 km magnetic anomaly.
Ian Gendall, President and CEO of DLP, commented: "Receiving these permits clears the final hurdle before we put the first drill hole into Esperanza. This is a 22,500-hectare project in one of the most productive copper belts on earth, with a five by two-and-a-half-kilometre magnetic anomaly, high-grade copper in trenches and 550 gram-per-tonne silver in veins at surface, and not a single metre of drilling done to date. We have designed this program to answer two questions at once: how far the near-surface copper oxide mineralisation extends below the trenches, and what sits in the porphyry core at depth. We expect to be drilling by September 18 and look forward to reporting results as the program advances."
Permitting Complete and Mobilization Underway
The permits received authorize the Company to construct drill platforms and access, and to conduct diamond drilling at Esperanza. With permits in hand, a drill rig, and supporting equipment will mobilize over the coming days. Site preparation is well advanced, and the Company expects the first hole to be collared on September 18, 2026. Esperanza benefits from established regional infrastructure, road access, power and a skilled labour pool across the Arequipa region, which supports efficient mobilization and continuous operation of the program.
Drill Program Design – Two Targets, One Program
The maiden program has been designed to test both the shallow, potentially near-term copper oxide mineralisation and the large-scale porphyry system interpreted at depth. All hole locations are directly informed by the coincident geophysical, geochemical and alteration datasets that converge on the Esperanza target area (Figure 1).
Target 1 – Near-Surface Copper Oxide Zone (Four Holes, Maximum 150 Metres Each)
Four shallow holes, each to a maximum depth of 150 metres, will test the near-surface copper oxide zone. This zone extends over an area of approximately 300 metres by 700 metres and has been defined by systematic trenching and channel sampling, which returned broad, continuous intervals of copper oxide mineralisation from surface, including:
54 m of
1.53% Cu, including 10 m of2.29% Cu (see news releases dated March 9, 2026 and March 16, 2026);86 m of
0.73% Cu, including 48 m of1.03% Cu;96 m of
0.54% Cu, including 58 m of0.75% Cu;66 m of
0.66% Cu, including 18 m of0.98% Cu; and82 m of
0.62% Cu, including 28 m of1.33% Cu.
These trench intervals begin at surface and remain open at depth. The four shallow holes are designed to confirm the vertical continuity, thickness and grade of the copper oxide mineralisation below the trenched exposures, and to provide the first material for metallurgical characterisation of the oxide zone. No metallurgical test work has been completed to date, and no assumption should be made regarding the metallurgical response or economic potential of the copper oxide mineralisation.
Target 2 – Main Porphyry Copper-Gold-Molybdenum Target (Three Holes, 800 Metres Each)
Three deep holes, each to a planned depth of 800 metres, will test the main porphyry copper-gold-molybdenum target along the flanks of, and at depth beneath, the 5.0 km x 2.5 km magnetic anomaly, an area of approximately 12.5 square kilometres and one of the largest untested copper-gold footprints in southern Peru.
The porphyry target is supported by an extensive surface geochemical dataset comprising 503 rock chip samples collected systematically across the Project, including:
550 g/t Ag with
4.548% Cu and 141.43 ppm Mo from a single polymetallic vein – the highest-grade silver result returned at Esperanza to date;7.795 g/t Au with 27.7 g/t Ag and
0.780% Cu from a vein sample, together with 2.353 g/t Au and 2.099 g/t Au;Copper values of up to
4.558% Cu, with 21 of 55 select samples exceeding1% Cu and 12 exceeding2% Cu; andMolybdenum values of up to 151.97 ppm Mo.
See news releases dated June 25, 2026 and July 28, 2026 for detailed results related to the above.
Figure 1) Drill Collar Locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/313757_0b21cadc44364944_001full.jpg
A Strategic Position in a Multi-Billion-Tonne Copper District
Esperanza is strategically located within one of the most productive copper belts in Southern Peru, an area that hosts several multi-billion-tonne copper deposits (Figure 2). The Project lies approximately 35 km southwest of Freeport-McMoRan's Cerro Verde mine, one of the largest copper deposits in the world, and immediately south of the Chapi copper mine. The broader southern Peru belt also hosts Anglo American's Quellaveco, Southern Copper's Cuajone and Toquepala mines and the Los Calatos project. Esperanza's proximity to these major copper mines and development projects, combined with its own coincident geochemical and geophysical anomalies, and surface veining and brecciation characteristic of porphyry copper and epithermal gold-silver systems, makes a compelling case for this maiden drill program.
Note: Mineral resources and reserves from nearby properties are not necessarily indicative of the mineralization on the Esperanza property.
Figure 2) Esperanza Property Location
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https://images.newsfilecorp.com/files/6456/313757_0b21cadc44364944_002full.jpg
Note: Mineral resources and reserves from nearby properties are not necessarily indicative of the mineralization on the Esperanza property. Sources: 1 2025 Annual Report (10K) – Freeport McMoRan; 2 ASX Announcement – September 24 2015 – Presentation – Los Calatos High Grade Development Option; 3 2025 Ore Reserve and Mineral Resources Report – Anglo American; 4 2025 Annual Report (10K) – Southern Copper; 5 2025 Annual Report (10K) - Southern Copper.
Next Steps
The Company will report progress as the program advances and will release assay results as they are received, verified and compiled. In parallel, DLP will continue to advance the Esperanza East Domain and the Northeast Vein Corridor – the two priority target areas announced on July 28, 2026 - through detailed mapping, additional geochemistry and geophysical interpretation, building a pipeline of drill targets for follow-up programs.
Esperanza Project
Esperanza comprises 22,500 hectares of claims
Qualified Person
Mr. Gendall, CEO & President of the Company is the qualified person as defined by National Instrument 43-101. Mr. Gendall has reviewed and approved the technical contents of this news release.
About DLP Resources Inc.
DLP Resources Inc. is a copper-focused development company advancing two
Aurora is a large-scale porphyry copper-molybdenum-silver deposit containing a combined open pit and underground indicated resource of 614.84 million tonnes at
Esperanza is an emerging district-scale copper-gold discovery located 35km from Cerro Verde, one of the world's largest copper mines. A 5.0km × 2.5km magnetic anomaly is supported by high-grade surface and trench sampling results, with a maiden drill program commencing on September 18, 2026.
DLP is listed on the TSX-V (DLP), on the OTCQB (DLPRF), and on the FSE (J8C).
FOR FURTHER INFORMATION, PLEASE CONTACT:
DLP RESOURCES INC.
Ian Gendall, President and Chief Executive Officer
iangendall@dlpresourcesinc.com
Gautam Iyer, VP Corporate Development & Investor Relations
gautamiyer@dlpresourcesinc.com
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.
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 the timing of mobilization and commencement of drilling, the planned number, depth and orientation of drill holes, the total metreage of the maiden drill program, the timing of receipt and disclosure of assay results, and the further advancement of the Esperanza Project in Peru.
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, delays in the mobilization of drill rigs and equipment, weather, ground conditions, drill and laboratory availability, delays in receipt of assay results, changes to the planned scope of the drill program, community and permitting matters, and drill results expected from the Esperanza Project in Peru.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the permits received remain in good standing; drill rigs, equipment and personnel will be available as scheduled; and the Company will maintain the community and regulatory support required to complete the maiden drill program at Esperanza.
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.
Non-IFRS Measures
This news release refers to certain financial performance measures that are not defined or recognized under International Financial Reporting Standards ("IFRS"), including: after-tax and pre-tax net present value ("NPV") at various discount rates; internal rate of return ("IRR"); payback period from first production; operating costs per tonne milled (including mining, processing, general and administrative, and off-site/refining costs); initial capital cost; sustaining and underground development capital; closure costs; total life-of-mine capital; and total life-of-mine gross revenue. These non-IFRS measures are presented because the Company and its management believe they provide useful information regarding the economic potential of the Aurora Project as contemplated in the PEA and are commonly used by the mining industry and investors to evaluate development-stage projects.
These measures do not have any standardized meaning prescribed under IFRS and may not be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As the Aurora Project is in the development stage, the Company does not currently have IFRS financial measures against which these non-IFRS measures can be reconciled.
For reference, the following definitions apply: NPV is calculated by discounting projected after-tax (or pre-tax, as applicable) free cash flows at the stated discount rate over the life of the mine plan. IRR is the discount rate at which the NPV of the project's after-tax free cash flows equals zero. Payback period is the estimated time to recover the initial capital investment from after-tax operating cash flows. Operating costs per tonne milled represent estimated total operating expenditures divided by total mineralized material tonnes milled over the applicable period or phase. Initial capital cost and sustaining and underground development capital represent the estimated capital expenditures required to construct and operate the project as contemplated in the PEA. Total life-of-mine gross revenue represents the estimated undiscounted gross value of payable metals produced over the Phase 1 mine life, calculated using the commodity price assumptions set out in the PEA, before deduction of smelting, refining, transportation, or royalty costs. All non-IFRS measures presented herein are based on the estimates, assumptions, and inputs described in the PEA and the NI 43-101 Technical Report to be filed on SEDAR+ within 45 days of this news release. Readers are cautioned not to place undue reliance on these measures. See also "Cautionary Note Regarding the PEA and Forward-Looking Information" above.
Additional information relating to the Company can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, and on the Company's website at www.dlpresourcesinc.com.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313757
FAQ
How is the Esperanza maiden drill program structured between the two targets?
The program totals approximately 3,000 metres in seven holes. Four shallow holes, each to a maximum depth of 150 metres, will test a 300 m x 700 m near-surface copper oxide zone defined by trenching and channel sampling. Three deep holes, each planned to 800 metres, will test the main porphyry copper-gold-molybdenum target along the flanks of, and beneath, a 5.0 km x 2.5 km magnetic anomaly covering about 12.5 square kilometres.
What trench results support the near-surface copper oxide target at Esperanza?
Systematic trenching in the oxide zone has returned broad intervals from surface, including: 54 m at 1.53% Cu (including 10 m at 2.29% Cu), 86 m at 0.73% Cu (including 48 m at 1.03% Cu), 96 m at 0.54% Cu (including 58 m at 0.75% Cu), 66 m at 0.66% Cu (including 18 m at 0.98% Cu), and 82 m at 0.62% Cu (including 28 m at 1.33% Cu). These intervals begin at surface and remain open at depth.
What surface sample results support the deeper porphyry target at Esperanza?
The porphyry target is underpinned by 503 rock chip samples collected across the project. Highlights include 550 g/t Ag with 4.548% Cu and 141.43 ppm Mo from a polymetallic vein (the highest-grade silver result to date), 7.795 g/t Au with 27.7 g/t Ag and 0.780% Cu from a vein sample, additional gold values of 2.353 g/t and 2.099 g/t Au, copper values up to 4.558% Cu with 21 of 55 select samples above 1% Cu (12 above 2% Cu), and molybdenum up to 151.97 ppm Mo.
Where is the Esperanza project located and what infrastructure is available?
Esperanza comprises 22,500 hectares of 100%-owned claims in southern Peru, approximately 35 km southwest of the Cerro Verde mine and immediately south of the Chapi copper mine. The project is within a productive copper belt and benefits from established regional infrastructure, road access, power, and a skilled labour pool in the Arequipa and Moquegua regions.
What are the key economic highlights of DLP's Aurora project mentioned in the release?
The Aurora porphyry copper-molybdenum-silver deposit has an indicated resource of 614.84 million tonnes at 0.19% Cu, 0.06% Mo and 2.09 g/t Ag, and an inferred resource of 1,118.80 million tonnes at 0.18% Cu, 0.07% Mo and 1.95 g/t Ag. An independent PEA completed in September 2026 outlines an after-tax NPV8% of US$2,703 million, an IRR of 18.5%, a 17.5-year mine life, and contemplated payable annual production of 90.5 million pounds of copper, 37.4 million pounds of molybdenum and 1.21 million ounces of silver.
How does DLP plan to advance other targets at Esperanza alongside this drill program?
While drilling progresses, DLP plans to continue advancing the Esperanza East Domain and the Northeast Vein Corridor through detailed mapping, additional geochemistry and geophysical interpretation, with the goal of building a pipeline of drill targets for follow-up programs.