Cranbrook, British Columbia, (Newsfile Corp.–Aug 06, 2020)– DLP Resources Inc. (TSXV:DLP) the wholly owned subsidiary of MG Capital Corporation is pleased to announce that drilling the extension of the original PAN-18-01 hole on the DD property, which was recently optioned from PJX Resources Inc., has been completed.
PAN-18-01-EX commenced at a depth of 1425.00m in a gabbro sill above the base of the Middle Aldridge Formation and ended at 1711.00m in the Lower Aldridge Formation. The Sullivan Horizon was intersected at the base of a faulted contact with the gabbro sill at 1529.00m and consisted of moderately to intensely altered siltstone/argillite. The alteration consisted of sericite, garnets, silicification, chlorite and minor albite to a depth of 1655.20m. Trace sphalerite was noted in a 24.80m interval from 1562.40m to 1589.42m.
Ian Gendall, President of DLP commented: “Although no significant zinc mineralization was observed in the moderately to intensely altered siltstones of the Sullivan Horizon there is a possibility that PAN-18-01-EX is in a distal part of a mineralized system. Further interpretation of historic drill hole data combined with doing a geophysical survey such as MT, electromagnetic geophysical method, will now be reviewed for assisting in identifying additional exploration targets on the DD property”.
The drill rig will now move to the 100% wholly owned Aldridge 1 property of DLP and drilling of the first proposed hole to a depth of 800-900m with a very intense MT target will commence shortly (see Figure 1 below). This hole is planned to drill a Sullivan-type Pb-Zn-Ag target at the Lower-Middle Aldridge Contact or “LMC” horizon.
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.
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 a wholly-owned subsidiary of MG Capital Corporation listed on the TSX-V, trading symbol DLP. Please refer to our web site www.dlpresourcesinc.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT: MG Capital Corporation & DLP Resources Inc.
Ian Gendall, President
Jim Stypula, Chief Executive Officer
Robin Sudo, Chief Financial Officer and Corporate Secretary
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.
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.