DLP Resources inks LOI with SP II to acquire 100% interest in Aurora porphyry Cu-Mo deposit
2021-05-20 14:47:09 [Print]
Canadian-based DLP Resources Inc. announced that it has signed a letter of intent with SMRL Parobamba II ("SP II") whereby DLP can acquire a 100% interest (the "Option") in the Aurora porphyry copper-molybdenum deposit.
Upon DLP's exercise of the Option and acquisition of a 100% interest in the Aurora Project, SP II will retain a 1.5 % net smelter returns royalty.
The Aurora Project was previously permitted for 40 drill holes in 2015 but was never executed. Thirteen historical drill holes, drilled in 2001 and 2005 totaling 3,900m were drilled over an area of approximately 1,000m by 800m, cut significant intervals of copper and molybdenum mineralization.
The company said, "The project is drill ready and our goal is to acquire drill permits as soon as possible so we can delineate a large porphyry copper-molybdenum deposit."
Upon DLP's exercise of the Option and acquisition of a 100% interest in the Aurora Project, SP II will retain a 1.5 % net smelter returns royalty.
The Aurora Project was previously permitted for 40 drill holes in 2015 but was never executed. Thirteen historical drill holes, drilled in 2001 and 2005 totaling 3,900m were drilled over an area of approximately 1,000m by 800m, cut significant intervals of copper and molybdenum mineralization.
The company said, "The project is drill ready and our goal is to acquire drill permits as soon as possible so we can delineate a large porphyry copper-molybdenum deposit."
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