DLP Resources Announces Commencement of Drilling on the Moby Dick Project - SE BC
Cranbrook, April 12, 2022 - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") is pleased to announce that drilling has commenced on the Moby Dick project in SE British Columbia, Canada.
Moby Dick and NZOU Projects (Sullivan-type Zn-Pb-Ag Targets)
Weather conditions have improved on the Moby Dick project and once again we have accessed the drill site which we had to evacuate late last year due to intense rains and heavy snow. Hole MD22-01 has commenced with a target depth of 1500m to 1700m.
A three-to-four-hole drill program of approximately 5400m is planned for the Sullivan-type Zn-Pb-Ag targets on the Moby Dick and NZOU projects (Figures 1 and 2). 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 indicate 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 sufficient "smoke" exists to suggest that a significant mineralized Sullivan-type Zn-Pb-Ag system may be encountered in this phase of drilling. 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).
Figure 1: DLP Project areas with Moby Dick, NZOU, Hungry Creek and Copper Creek properties shown.
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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.
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Figure 3: Titan MT resistivity section along Line 3N showing current drill hole MD22-01
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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: iangendall@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email: robinsudo@dlpresourcesinc.com
Email: maxreinhart@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.
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 Moby Dick and NZOU properties.
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 Moby Dick and NZOU properties.
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.
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