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DLP Resources Announces Commencement of 2023 Drilling at Aurora and Exploration Update

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Cranbrook, British Columbia–(Newsfile Corp. – February 27, 2023) – DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (“DLP” or the “Company“) is pleased to announce that drilling of the fourth diamond drill hole, on the Aurora porphyry copper-molybdenum project in Peru, has commenced.

Exploration Update

DD-Moby Dick-NZOU (Sullivan-type Zn-Pb-Ag Targets)

DLP has terminated the option agreement to earn up to 75% of PJX Resources Incs’ (PJX) DD property as of February 24, 2023. DLP will now focus on the Sullivan-type Zn-Pb-Ag targets on the Moby Dick project and the NZOU project.

DLP and PJX each have a 50% interest in the Moby Dick property and DLP has an option to earn 100% of the NZOU property (see DLP news release dated August 20, 2020).

PJX also has the right to earn a 50% interest in the NZOU property.

Aurora Project (Porphyry Cu-Mo Target)

Aurora is a porphyry copper-molybdenum project in Southern Peru with the potential to host a significant copper-molybdenum mineralized system. (Figures 1, 2, 3 and 4). Drilling of three diamond drills was completed in 2022 and results have been released for A22-001, A22-002 and A22-003 (see DLP news releases dated December 05, 2022, and January 05, 2023). Significant copper and molybdenum mineralization was reported from the 2022 drilling with A22-003 reporting 664.30m at 0.33% Cu, 483.14ppm Mo and 3.23g/t Ag from 38m to 702.30m including 218m at 0.69% Cu, 161.77ppm Mo and 5.65ppm Ag from 132m to 350m (see DLP news release of January 05, 2023).

Continued drilling along extensions of known copper-molybdenum mineralization to the west will be done during the first half of 2023 (Figures 2, 3 and 4). Diamond drillhole A23-004 commenced on February 21 on an azimuth of 120 degrees and an inclination of -70 degrees. Planned depth for A23-004 is 700m.

Very encouraging quartz veining and visual copper and molybdenum mineralization was observed in and around the drill platform of A23-004 and we expect to be in mineralized rock within the upper 30m (Figure 5).

Figure 2. Historic drill holes, DLP-2022 drill holes and 2023 drill hole A23-004 on geology.

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Figure 4. Historic drill holes, DLP-2022 drill holes and 2023 drill hole A23-004 on geology.

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Figure 6. Location of Hungry Creek and Copper Creek Cu-Co Projects.

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Table 1: Summary of drill results for HC22-01, HC22-02 and HC22-06

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Table 2: Diamond drill location, depth, azimuth and inclination

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Figure 8. Hungry Creek 711 Target area with drill holes shown.

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Table 3. Summary of drill results for CC22-01

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Figure 10. Copper Creek Project – Historic grab rock sample results with 2022 drilling of CC22-01 shown in blue circle.

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Ian Gendall, CEO & President of DLP commented, “We are very excited with the start-up of the 2023 drilling on the Aurora porphyry copper-molybdenum project and we anticipate a continuous flow of drill results from April onwards. Both copper and molybdenum mineralization have been observed on the initial 2023 drill pad of A22-004 and it is expected mineralization will continue down to our planned depth of 700m as was observed in A22-003.

“In addition to the Peru drilling, we have encountered copper mineralized quartzites – Revett-type copper mineralization at the Hungry Creek and Copper Creek projects in southeastern BC. Further prospecting and additional sampling over the multiple copper targets extending over 12 to 20 km from the 711 target will now be completed in the summer of 2023. Drilling of 386.16m in CC22-01 on one anomalous copper target at Copper Creek was encouraging and we will now extend drilling to the core zone this summer.”

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 and rock samples were crushed down to 2 mm and a 250g split was pulverized to better than 85% passing 75µm. Samples were subjected to a 4-acid digestion and analyzed for silver and an additional 33 elements using inductively coupled plasma emission spectrometry (ICP-ES). 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 and rock samples to monitor sampling variances, laboratory precision and accuracy.

Qualified Person

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

About DLP Resources Inc.

DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia and Peru, exploring for Base Metals and Cobalt. DLP is listed on the TSX-V, trading symbol DLP and on the OTCQB, trading symbol DLPRF. Please refer to our web site www.dlpresourcesinc.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

DLP RESOURCES INC.
Ian Gendall, CEO & President
Jim Stypula, Executive Chairman
Robin Sudo, Chief Financial Officer and Corporate Secretary
Maxwell Reinhart, Investor Relations
Telephone: 250-426-7808
Email: [email protected]
Email: [email protected]
Email: [email protected]
Email: [email protected]

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 drilling on the Aurora 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 drill results expected from the Aurora 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 drill results outlined regarding the Hungry Creek project.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will obtain the required regulatory approvals for continued drilling on the Copper Creek project.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156200

Fintech

Central banks and the FinTech sector unite to change global payments space

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The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.

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TD Bank inks multi-year strategic partnership with Google Cloud

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TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.

Source: fintechfutures.com

The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.

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MAS launches transformative platform to combat money laundering

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The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.

According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).

Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.

Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.

Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.

Source: fintech.global

The post MAS launches transformative platform to combat money laundering appeared first on HIPTHER Alerts.

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