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Monday, 17 May 2021 04:40 GMT

DLP Resources Announces Exploration Update of Drilling on the DD Project - Strong Hydrothermal Alteration Intersected in the Sullivan Horizon in DD21-01


(MENAFN - Newsfile Corp) DLP Resources Announces Exploration Update of Drilling on the DD Project - Strong Hydrothermal Alteration Intersected in the Sullivan Horizon in DD21-01

Cranbrook, British Columbia--(Newsfile Corp. - April 1, 2021) - DLP Resources Inc. (TSXV: DLP) is pleased to announce drilling of Hole DD21-01 on the Gerry Vent has been completed to a depth of 1728m (Figure 1). Strongly hydrothermally altered and sheared Sullivan horizon siltstone/argillite was intersected in the hole from 1452.46m to 1550m. Weak pyrrhotite (FeS), chalcopyrite (CuFeS2) and trace pyrite (FeS2) occur through the alteration zone with a late gabbro sill from 1498m to 1503.57m. Both top and bottom contacts were sheard and faulted with the hole entering into a 119.68m thick late gabbro sill before intersecting lower Aldridge sediments at 1674.54m. The hole ended at 1728m in weakly altered lower Aldridge sediments with tourmalinite.

The MT (magnetotelluric) geophysical anomaly below the Gerry Vent and at a depth of 320m to 528m, 208m interval, corresponded to weak garnet alteration, fractures/faulting and shearing together with weak pyrrhotite (FeS) and trace sphalerite (ZnS). Initially we had planned to drill test this Gerry Vent anomaly to a depth of 800m with the second hole planned 700m to the north to drill the deeper Sullivan target. However, it was decided to continue through the MT anomaly to Sullivan time in DD21-01, hence the final depth of 1728m.

Strong sericite-silica alteration and yellow-brown phengite visible in the altered Sullivan horizon confirms hole DD21-01 is still distal from a mineralized source. We will now move 2.1km to the SE where the main NE-SW trend of MT anomalies corresponds with our vectoring to the main Sullivan Zn-Pb-Ag targets over approximately 5.1km. Drilling of the first of four targets along this trend will now commence in the first week of April (Figures 2 and 3).

Ian Gendall, President of DLP commented: "DD21-01 confirmed that the hydrothermal system responsible for the strong alteration once again seen at the Sullivan Horizon extends to the North of the DD property. However, as we had previously noted the vectoring towards the main Sullivan Zn-Pb-Ag target is towards 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 initiate drilling of DD21-02 which is the first of 4 holes planned along this NE-SW trend of favourable geology, structures and geophysical anomalies extending on the DD-Moby Dick and Nzou properties."

In addition to the continued drilling of the DD-Moby Dick and NZOU Properties the start-up of the 190km2 Mobile MT (magnetotelluric) survey with Expert Geophysics over the Hungry Creek and Aldridge 1 Projects is expected to commence in late April-May.

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 1: Titan MT resistivity section along Line 5N showing Drill Hole DD21-01

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Figure 2: Titan MT resistivity plan at 0m elevation with DD21-01 on the Gerry Vent and Planned DD21-02 on the main MT Anomaly trend

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Figure 3: Simplified plan showing MT anomalies at 0m elevation on the DD-Moby Dick and NZOU Properties and DD21-01 and DD21-02 Drill Holes

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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 for additional information.

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:
Email:
Email:

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.

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