DLP Resources Announces Results of Drilling DD21-02 on the DD Property

Extensive thickness (168m) of Sullivan Horizon fragmentals intersected with 7.6m of Sullivan muds containing disseminated zinc

Cranbrook, British Columbia–(Newsfile Corp. – June 28, 2021) – DLP Resources Inc. (TSXV: DLP) (“DLP”) is pleased to announce drilling of Hole DD21-02 on the DD property, 40km SW of Cranbrook, BC, has been completed to a depth of 1901.6m (Figures 1, 2, 3 and 4). Extensive thickness (168m) of fragmentals, part of the Sullivan Horizon, were intersected from 1705m with abundant pyrrhotite with hydrothermal alteration of secondary biotite and sericite + chlorite visible throughout. Finely laminated Sullivan horizon siltstone/argillite was intersected at the base of the fragmentals from 1861.24m to top of Lower Aldridge banded siltstones at 1873.31m. A 7.6m interval of the Sullivan siltstones/argillites with fine grained disseminated sphalerite (Zn,Fe)S and wispy bands of pyrrhotite was observed from 1861.24m to 1873.31m. Within this section there was a 2.92m interval with 0.16% Zn and 0.06% Pb from 1861.26m to 1864.18m. The highest values in this interval were 0.27% Zn, 0.11% Pb and 2.5ppm Ag (see Table below).

Summary Table of Results for DD21-02

It is important to highlight that the 168m thickness of fragmentals and Sullivan muds with zinc mineralization at the base confirms that the vector towards the vent and possibly massive zinc mineralization is further to the NE. DD18-01-Ext drilled 1.3km SW of this hole intersected 126m of Sullivan Horizon sediments with no fragmentals and only trace zinc mineralization. It appears that with:

• increased thickness of the Sullivan Horizon towards the NE in DD21-02,
• confirmed NE-SW structural controls,
• increasing amounts of zinc mineralization,
• support of the MT (magnetotelluric) geophysical data indicating pyrrhotite as a possible source of the conductor in the 5000m x 500m trend (Figures 2 and 3) plus,
• the fact the historic drill hole IR07-01 drilled 2300m to the east, intersected ~149m of moderately to highly hydrothermally altered Sullivan sediments at 1365m with up to 0.5% Zn and up to 0.3% Pb;

favours ongoing targeting of drill holes within the 5km x 0.5km trend previously highlighted in press release of December 03, 2020.

These highly conductive anomalies, seen in the MT data, are possibly related to pyrrhotite (iron sulphide) which we know is a key indicator for targeting Sullivan-type Zn-Pb-Ag mineralization. When we look at the footprint of the Sullivan deposit it is clear we have a sizeable target area to host a significant mineralized system on the DD-Moby Dick and NZOU properties (Figure 4)

As mentioned in News Release December 3, 2020, drilling of PAN18-01-EX and relogging of historic holes Irish 05-01 and IR 07-01 still strongly supports the idea that the main conductive body of possible Sullivan-type Zn-Pb-Ag mineralization is between Pan 18-01-Ex, IR 07-01 and the Irish05-01 drill holes (Figures 1, 3 and 4).

Drilling of the next three targets along this trend will commence once the drilling at Hungry Creek, copper-cobalt target, is completed in August.

Ian Gendall, President of DLP commented: “We did intersect an extensive package of Sullivan-type fragmentals and Sullivan muds in DD21-02 that host significant finely disseminated zinc mineralization. This is similar to zinc mineralization found in the Sullivan horizon distal to the Sullivan orebody. The hydrothermal system responsible for the strong alteration once again seen at the Sullivan Horizon in DD21-02, extends to the NE of the DD property. As we had previously noted the vectoring towards the main Sullivan Zn-Pb-Ag target is along the 5.1km x 0.5 km trend of strong MT geophysical conductors previously reported in Press Release of December 03, 2020. We continue to be excited to extend drilling further NE along this SW-NE trend of favourable geology, structures and geophysical anomalies extending onto the Moby Dick and Nzou properties.”

The 190km² Mobile MT (magnetotelluric) survey with Expert Geophysics over the Hungry Creek and Aldridge 1 Projects was completed on June 04. Preliminary results have been received and final data and interpretations are expected in early July. Drilling of two 400m holes on Hungry Creek is expected to begin in the latter part of July.

Advertisement

QA/QC

All core samples (NQ diameter) were cut with a diamond saw. One-half of the core was placed in numbered and sealed bags and sent via secure transport to MSA Laboratory in Langley, BC for sample preparation and analyses. Core samples were crushed down to 2 mm and a 250g split was pulverized to better than 85% passing 75µm. Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish. Other sample cuts were subjected to a 4-acid digestion and analyzed for silver and an additional 47 elements using inductively coupled plasma mass spectrometry (ICP-MS). MSALabs is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

DLP’s QA/QC program includes the insertion of standards and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

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.

Figure 2: Titan MT resistivity section along Line 2N showing drill hole DD21-02

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

Figure 4: Simplified plan showing MT anomalies at 0m elevation on the DD-Moby Dick and NZOU Properties and DD21-01 and DD21-02 drill holes

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6456/88835_34995153f4daf877_005full.jpg

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 listed on the TSX-V, trading symbol DLP. Please refer to our web site www.dlpresourcesinc.com for additional information.

Advertisement

FOR FURTHER INFORMATION PLEASE CONTACT: DLP Resources Inc.

Ian Gendall, President
Jim Stypula, Chief Executive Officer
Robin Sudo, Chief Financial Officer and Corporate Secretary
Telephone: 250-426-7808
Email: iangendall@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email: robinsudo@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.

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “appears to”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although DLP has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88835