MG Capital Corp and DLP Resources Announce Receipt of Drill Permits and Appointment of New Director

Cranbrook, British Columbia–(Newsfile Corp. – July 13, 2020) – DLP Resources Inc. (TSXV: DLP) the wholly owned subsidiary of MG Capital Corporation is pleased to announce that approvals to commence work, including drilling, on the Aldridge 1, 2 and Hungry Creek properties have been received from the BC Ministry of Energy, Mines and Petroleum Resources.

Ian Gendall, President of DLP commented “We are extremely excited to be able to start executing our plan of drilling the Sullivan-type Pb-Zn-Ag targets on the Aldridge 1 and 2 Properties approximately 50 km southwest of Cranbrook, this year. Targets identified from the MT geophysical survey (see news release of March 23, 2020 and Figures below) and mapping done by Dave Pighin will now be tested by drilling”.

Ian Gendall further commented “With the recently announced option agreement with PJX Resources (see news release of June 22, 2020) on the DD property adjacent to Aldridge 1 we have an exciting package of ground along a significant northeast structural trend and other north trending structures for exploring Sullivan-type targets at the Lower to Middle Aldridge contact”.

Additional follow-up mapping and soil sampling to locate the source of the massive to semi-massive sulphides, hosted by float boulders at Hungry Creek will commence before any drilling will be initiated. Sixteen mineralized float boulders taken from the Hungry Creek drainage were assayed for cobalt and copper. The 16 boulders sampled had an assay range of 0.008% to 5.0% for copper and 0.002% to 0.23% for cobalt (see news release of January 09, 2020).

Once the recently announced (see July 09, 2020 news release) non-brokered private placement for gross proceeds of $1,500,000 is completed the Company will mobilize crew and equipment for the summer drill program which is expected to commence the last week of July, 2020.

APPOINTMENT OF NEW DIRECTOR

DLP would also like to announce the appointment of Ms Carol Li to the Board of Directors of DLP. Ms. Li is a Canadian Chartered Professional Accountant with over 20 years of financial and executive management experience, of which 14 years in mining. Ms. Li was appointed as Chief Financial Officer of Ascot Resources Ltd. on November 2, 2017. Ms. Li was formerly Vice President, Finance for KGHM International Ltd. from 2012 to 2017 and Corporate Controller for Quadra/QuadraFNX Mining Ltd. from 2004 to 2012. Ms. Li became a director of Strikepoint Gold Inc. on June 3, 2019 as a representative for Ascot Resources as one of Strikepoint’s largest shareholders.

Covid-19 Update

DLP has taken proactive measures to ensure the health and safety of its employees, contractors and communities from COVID-19. All exploration activities in 2020 will be conducted with additional safety measures in place related to COVID-19. Guidance is taken from the BC Restart Plan, Workers Compensation Act and the BC Government Mineral Exploration and Mining Health and Safety, Guidance for Covid-19 site.

David L. Pighin, consulting geologist and co-founder of DLP Resources, is the qualified person (“QP”) of the Corporation as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical contents of this news release.

Advertisement

About DLP Resources Inc.

DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia, exploring for Base Metals and Cobalt. DLP is a wholly-owned subsidiary of MG Capital Corporation listed on the TSX-V, trading symbol DLP. Please refer to our web site
Figure 2

To view an enhanced version of Figure 2, please visit:

Figure 4

To view an enhanced version of Figure 4, please visit:

Figure 6

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/6456/59604_d472a01564b31860_006full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59604