DLP Resources Announces Commencement of Drilling on the NZOU Critical Metals Project – Sullivan-type Zn-Pb-Ag Target in SE British Columbia

Cranbrook, British Columbia–(Newsfile Corp. – June 20, 2023) – DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (“DLP” or the “Company“) announces commencement of drilling on the NZOU critical metals project in southeastern British Columbia, Canada (Figure 1).

NZOU Project (Sullivan-type Zn-Pb-Ag Target)

A one-hole drill program of approximately 1700m in NZ23-001 is planned for the Sullivan-type Zn-Pb-Ag target on the NZOU project (Figures 1, 2 and 3). As highlighted in the DLP press release of November 9, 2021 the extension of the well-developed MT (magnetotelluric) geophysical anomalies to the NE of hole DD21-02 indicated well developed conductive bodies extending over 5000m x 500m. These conductive zones are proposed to be associated with pyrrhotite (iron sulphide) associated with the extension of the Sullivan Horizon intersected in DD21-02 (Figure 2). Both geophysical and geological data support the fact that a significant mineralized Sullivan-type Zn-Pb-Ag system may be encountered in this phase of drilling approximately 3.7km northeast of DD21-02. A low resistivity (strong conductive) anomaly extending from approximately 700m to beyond the targeted depth of 1500m to 1700m is well developed on this drill section (Figure 3).

Ian Gendall, President and CEO of DLP commented, “We are very excited to be targeting a potential significant critical metals Sullivan-type zinc system on the NZOU property. Previous drilling in 2020, 2021 and 2022 has continued to vector us from the southwest to the northeastern end of this extensive 5000m MT geophysical trend.”

Summary of Vectoring towards a Sullivan-Type Zn-Pb-Ag Target along the 5km Magnetotelluric Geophysical Trend (Figure 2)

• In 2020, DLP extended the original PAN18-01 hole, renamed PAN18-01-Ex, drilled by Teck from 1425m to 1711m and intersected the Sullivan horizon with weak zinc mineralization and good chlorite and sericite alteration.
• In 2021, drill hole DD21-02 was drilled on the chargeability anomaly approximately 1.2 km to the NE of PAN18-01-EX. Hole DD21-02 like PAN18-01-EX, was drilled on the PJX’s DD property and intersected an extensive thickness (168m) of fragmentals, part of the Sullivan Horizon, 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 (zinc-iron sulphide) and wispy bands of pyrrhotite (iron-sulphide) 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 DLP Press Release of November 9, 2021).
• In 2022, DLP drilled MD22-01 on the Moby Dick property and hit a major fault at around 1200m. A re-drill off a downhole wedge placed at 1150m also had to be abandoned at 1305m due to poor drilling conditions. The hole ended in Middle Aldridge sediments with weak pyrrhotite mineralization and intense sericite alteration with trace tourmaline within the fault zone.

A review of the data obtained from the above three holes, historic drilling of IR07-01 and IRISH-07 and updated geological maps, DLP is now targeting the Sullivan-type Zn-Pb-Ag system at the end of the MT anomalous zone with a very well-developed chargeability zone at 1500m depth.

The historic Sullivan mine which was one of the largest sedimentary exhalative Zn-Pb-Ag deposits in the world is located approximately 52km to the north of our NZOU drilling. The Sullivan mine was in active production for 92 years with a reported 160 million tons of ore containing 8 million tons of lead, 7 million tons of zinc, and 285 million ounces of silver, worth approximately $40 billion at today’s metal prices.

Figure 2: Titan MT resistivity plan at 0m elevation with the main MT anomaly trending NE from DD21-02 onto the Moby Dick and NZOU properties.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6456/170635_e53aa6ca540bb8e4_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170635

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