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DLP Resources Inc. reports exploration updates for copper, molybdenum, silver, base-metal and cobalt targets in Southern Peru and Southeastern British Columbia. Company news centers on the Esperanza porphyry copper-molybdenum project, including trench sampling, rock-chip geochemistry, alteration mapping, drone aeromagnetic surveys, and three-dimensional magnetic susceptibility modeling. Updates also cover drill results from the Aurora porphyry copper-molybdenum-silver project.
Recurring corporate disclosures include incentive awards under the long-term incentive plan, technical committee and advisory appointments, board matters, capital-structure updates, and operating and financial results tied to DLP Resources' mineral exploration business.
DLP Resources Inc. (DLPRF) has announced a significant maiden Mineral Resource at its Aurora Project in Peru, revealing an Inferred Resource exceeding 1 billion tonnes. The resource contains 4,650 million pounds of copper, 1,110 million pounds of molybdenum, and 80 million ounces of silver.
The pit-constrained Inferred Resource totals 1,050 Mt grading 0.20% copper, 0.05% molybdenum, and 2.4 g/t silver (0.44% CuEq). The mineral resource, divided into copper-rich and molybdenum-rich zones, shows consistent mineralization distribution and remains open for further expansion.
The resource estimate is based on 24 diamond drillholes totaling 18,400m across 400 hectares at the Parobamba site. The company plans to proceed with additional drilling to upgrade the resource and advance towards a preliminary economic assessment.
DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) has announced an investor relations agreement with Max Reinhart, effective December 1, 2023, for a 12-month term. The consultant will provide advertising, marketing, and investor relations services to increase market awareness and expand the company's investment community reach.
As compensation, subject to TSX Venture Exchange approval, DLP will grant the consultant 150,000 stock options at $0.19 per share, exercisable for 3 years, with quarterly vesting over 24 months. Additionally, the consultant will receive a monthly fee of $6,000 from the company's working capital.
The consultant currently holds 650,000 common shares, 500,000 warrants at $0.40 per share (expiring January 31, 2027), and 150,000 stock options at $0.40 per share (expiring January 10, 2027).
DLP Resources Inc. (DLPRF) has appointed Derek White as an independent director effective January 20, 2025. White brings over 35 years of international mining experience, including leadership roles at Ascot Resources, KGHM International, and other major mining companies.
The company provided an update on its Aurora porphyry copper-molybdenum project in Peru, where drilling has confirmed mineralization across an area of 1100m x 950m x 1000m. The 2024 drill program completed 10 holes totaling 8,394.53m, with all holes intersecting Cu-Mo-Ag mineralization. Metallurgical studies showed high recovery rates: 95.8% Cu, 86.4% Mo, and 89.3% Ag. A NI 43-101 Maiden Resource Estimate is expected in Q1-2025.
Additionally, at the Esperanza Copper-Molybdenum Project, detailed sampling confirmed potential for a large porphyry system extending over 4km x 2km, with rock samples returning up to 4.71% Cu. Geophysics planning is scheduled for early 2025.
DLP Resources (DLPRF) has announced significant drilling results from hole A24-022 at its Aurora porphyry copper-molybdenum-silver project in Peru. The hole intersected notable mineralization, including 0.68% CuEq over 256m within a broader interval of 0.37% CuEq over 1007.50m.
Metallurgical testing showed promising results with recoveries of 93.2% Ag, 97.4% Cu, and 95.1% Mo from concentrate. Open circuit flotation achieved a molybdenum concentrate of 49.7% Mo and a copper concentrate of 28.7% Cu, with no penalty elements found in either concentrate.
The company completed its 2024 drill program with nine successful holes and expects to release an initial resource estimate in Q1 2025. Additionally, DLP announced plans to extend the term of 5,168,814 warrants from February 6, 2025, to February 6, 2026, subject to TSX Venture Exchange approval.
DLP Resources announces significant drill results from hole A24-021 at its Aurora porphyry copper-molybdenum-silver project in Peru. The drillhole intersected substantial mineralization, including 0.32% CuEq over 1189.65m from 2.50m to 1192.15m, and notably 0.49% CuEq over 303.15m from 889.00m to 1192.15m. The hole was drilled 320m northwest of A24-020 and ended in mineralization due to drill rig capacity limitations. An initial resource estimate is expected in Q1 2025, with AMC Consultants having initiated due diligence.
DLP Resources has announced significant drill results from hole A24-020 at its Aurora copper-molybdenum-silver project in southern Peru. The drillhole, located 135m southeast of A24-016, intersected notable mineralization including 0.76% CuEq over 339.35m within a broader interval of 0.38% CuEq over 1058.35m. The hole was drilled from September to October 2024, reaching a depth of 1061.35m where it was stopped due to drill rig capacity limitations. The company plans to complete an initial resource estimation by March 2025.
DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) has announced drill results for hole A24-019A at its Aurora porphyry copper-molybdenum-silver project in southern Peru. Key highlights include:
- 0.21% Cu over 133.70m from 34.30m to 168.00m
- 0.40% Cu over 59.70m from 34.30m to 94.00m
The company has engaged AMC Consultants to complete a preliminary NI43-101 compliant resource estimation on Aurora, expected by March 2025. DLP also plans to extend the term of 4,358,800 common share purchase warrants issued in November and December 2022, subject to TSX Venture Exchange approval.
DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) announced results from drillholes A24-017 and A24-018 on the Aurora porphyry copper-molybdenum-silver project in southern Peru. Highlights include:
- A24-017: 0.81% Cu over 94.00m from 31m to 125.00m
- A24-018: 0.36% CuEq* (0.23% Cu, 0.02% Mo, 2.09g/t Ag) over 954m from 164.00m to 1118.00m
The drilling expanded copper mineralization to the northeast and southwest. A24-017 confirmed shallow copper mineralization in the northeast, while A24-018 expanded the footprint of copper-molybdenum and silver mineralization in the southwest.
The company also provided an update on the NZOU Project in SE British Columbia, where drilling ended at 1759m without significant zinc mineralization. No further drilling is planned for NZOU.
DLP Resources has released promising results from its initial metallurgical study on the Aurora Project in southern Peru. Conducted by Plenge in Lima, the study focused on three composite samples (M-1, M-2, M-3) representing different mineralized zones.
Key findings include:
- High recoveries of copper (95.8%), molybdenum (86.4%), and silver (89.3%) in rougher concentrate.
- Best conditions for recovery were achieved with a primary grind of P80-133 microns and specific reagents and pH levels.
- Successful copper-molybdenum separation for composites M-1 and M-3, achieving commercial-grade molybdenum concentrate.
- No deleterious elements found, suggesting favorable project economics.
The study's results bode well for the project's economic viability, particularly given current market prices for molybdenum ($30/lb), copper ($4.20/lb), and silver ($29/oz).
DLP Resources has announced results from drillhole A24-016 at the Aurora Project in southern Peru, revealing significant copper-molybdenum-silver mineralization. Highlights include:
- 0.32% CuEq over 1080.15m from 0.00m to 1080.15m
- 0.48% CuEq over 89.00m from 0.00m to 89.00m
- 0.24% CuEq over 535.00m from 329.00m to 864.00m
- 0.82% CuEq over 216.15m from 864.00m to 1080.15m
Drillhole A24-016, drilled to a depth of 1080.15m, intersected varying mineralization zones, with the highest copper equivalent concentration at 0.82% CuEq between 864m and 1080.15m. The ongoing exploration will further validate these findings. Drilling continues with holes A24-017 and A24-018, with results expected in late September and early October.