Business
MG Capital and DLP Resources announces high grade Copper-Cobalt potential at Hungry Creek
Cranbrook, British Columbia--(Newsfile Corp. - January 9, 2020) - MG Capital Corporation (TS...
About this update from Dlp Resources, Inc.
[{"type":"text","content":"MG Capital and DLP Resources announces high grade Copper-Cobalt potential at Hungry CreekCranbrook, British Columbia--(Newsfile Corp. - January 9, 2020) - MG Capital Corporation (TSXV: DLP) (\"MG\" or the \"Corporation\") is pleased to report the discovery of numerous massive to semi-massive sulphide-rich boulders spread along a boulder \"float train\" of 2 kms determined from stream bed sampling on the Hungry Creek property.The Hungry Creek property, held by MG's wholly-owned subsidiary, DLP Resources Inc. (\"DLP\"), is comprised of 11 mineral claims totaling 42.62 sq. km in size, and is located 35 km west of Kimberley, B.C. Access to the property is via good loggings roads that come to within 1 km of the eastern edge of the property.Past and current prospecting in the stream bed of Hungry creek has discovered numerous large boulders of quartzite hosting, semi-massive to massive, sulphides. These boulders are commonly larger than 1 cubic meter and have been traced upstream from the mouth of Hungry creek.The massive to semi-massive sulphides, hosted by the float boulders, consists of cobaltiferous pyrite-pyrrhotite and copper sulphides such as Chalcopyrite, minor Bournonite and Chalcocite. Sixteen mineralized float boulders were assayed for Cobalt and Copper. The 16 boulders sampled had an assay range of 0.008% to 5.0% for Copper and 0.002% to 0.23% for Cobalt . Follow-up prospecting in 2019, located a large, anomalous, Copper-Cobalt gossan consisting of limonite and leached, vuggy, quartzite that is similar to the mineralized float boulders. A limited soil geochem survey upslope from the mineralized float located 2 copper-cobalt anomalies.To locate the source of the copper-cobalt rich float boulders, in 2020, DLP plans an aggressive geological mapping, geophysics and soil geochemistry program with follow up of diamond drilling campaign.Highlights from the assay result of the Hungry Creek Float Train are: HSK-02 is 50% orthoquarzite and 50% pyrrhotite, pyrite and chalcopyrite and assayed 0.16% cobalt; 0.47% copper and 1.85 g/t silverHSK-03 is 60% orthoquartzite and 40% pyrite-pyrrhotite and assayed 0.13% cobalt, 150.0 ppm copper and 0.16 g/t silver.HSK-04 is 70% orthoquartzite; 30% chalcopyrite with minor bournonite and chalcocite and assayed 21.8 ppm cobalt; 4.62% copper and 50.7 g/t silver.HSK-07 is 60% orthoquartzite; 40% pyr...