GSP Intersects Multiple Sulphide Mineralized Structures in Recently Completed Diamond Drilling Program at Alwin Project, British Columbia, Canada
Vancouver, December 18, 2024 - GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD) (the "Company" or "GSP") announces the successful completion of its surface diamond drill program at the Alwin Mine project (the "Alwin Property"). The 2024 drill program consisted of 7 drill holes totaling 812 metres designed to target potential extensions of known high grade copper and gold zones at the Alwin Property located in the Highland Valley Copper Camp of British Columbia (Figure 1, and Image 1). -
2024 Alwin Copper-Gold Project Drilling Highlights:
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All seven holes intersected visual signs of chalcopyrite-bornite copper sulphide mineralization. Three drill holes intersected significant width visible copper sulphide mineralization: including 35 metres (m) core length (AM24-01, see Image 2), 6.5 m (AM24-04, see Image 3), 5.5 m (AM24-05), and 6.5 m (AM24-06)1
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Drill hole AM24-06 is of particular significance given that the mineralized intercept occurs to the northwest along strike of the deposit and outside of the current Alwin Project mineral resource pit shell, which presents clear opportunities for resource expansion (see GSP Resource Corp. new release dated December 12, 2024)
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Significantly, the 2024 drill campaign was designed to test the potential for gold values present as both high-grade narrow veins and broader lower grade zones, which are not well understood due to a lack historic gold assays (see GSP Resouce Corp. news release dated August 19, 2024).
Simon Dyakowski, CEO of GSP commented, "We are excited that our 2024 diamond drill campaign was a success both technically and logistically, which again demonstrates the year-round exploration potential at Alwin. Drilling intersected multiple broad zones of bornite-chalcopyrite mineralization with the potential to expand the resource both within and outside of the pit shell. We look forward to receipt of assay results early in the new year."
Figure 1: Oblique View of Alwin Mine 2024 Drilling (green), Pit Shell (beige) and Copper Block Model (gradational colour bar), historic underground development (blue), and backfilled stopes (red)
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Image 1: Drill Setup on AM24-04, with Teck-Highland Valley Copper Operation in Background
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Image 2: AM24-01, Broad Zone of Quartz Veined Bornite-Chalcopyrite Mineralization, and Pervasive Black Sericite-Chlorite Alteration (112-119 m)
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Image 3: AM24-04, Chalcopyrite-Pyrite Mineralized Quartz Veined Fault Zone (45-51 m)
Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, a consultant to the Company and a "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin property.
About GSP Resource Corp.
GSP Resource Corp. is a mineral exploration & development company focused on projects located in Southwestern British Columbia. The Company has an option to acquire a 100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division, as well as an option to acquire 100% interest and title to the Olivine Mountain Property in the Similkameen Mining Division, of which it has granted an option to earn a 60% interest to a third party.
For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: +1 (604) 619-7469
Email: simon@gspresource.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.
Forward-Looking Information
This news release contains "forward?looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work, advancing the Alwin Project, completing and filing a technical report relating to the MRE, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
1 The estimated true width of mineralization is approximately 60-70% of the drilled width.
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