(TheNewswire)
Vancouver, British Columbia – TheNewswire - October 26, 2023 - GSP Resource Corp. ( TSXV:GSPR ) (OTC:GSRCF) (the“ Company ” or “ GSP ”) reports that the Fall 2023 Drillingprogram has commenced at the Alwin Mine Project (the “ Alwin Property ”). The program of 5 to 6diamond drill holes is designed to target potential extensions ofknown high grade copper zones at the Alwin Property located in theHighland Valley Copper Camp of British Columbia. Crews mobilizedlast week and completed a detailed ground magnetic survey to definemineralization host structures which further refined the targets.
About the Alwin MineProject: The Alwin Mine Copper-Silver-Goldproperty is approximately 575.72 hectares and is located on thesemi-arid, interior plateau in south-central British Columbia. Thehistoric underground mine was developed over 500 m long by 200 m wideby 300 m deep. Production took place between 1916 to 1981 from fivemajor subvertical high-grade copper mineralization zones totaling233,100 tonnes that milled 3,786 tonnes of copper, 2,729 kilograms ofsilver and 46.2 kilograms of gold. The average diluted head grade was1.5% copper.
The Alwin Property is adjacent with the westernboundary of Teck Corporation’s Highland Valley Mine, the largestopen-pit porphyry copper-molybdenum mine in western Canada. Alteration and mineralization of the Highland Valley hydrothermalsystem extends westward from the Highland Valley mine onto the Alwinproperty (see GSP’s news release dated January 30, 2020).
Qualified Person: The scientific and technical information contained in thisnews release has been reviewed and approved by Kristopher J. Raffle,P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. ofEdmonton, AB, a consultant to the Company and a “qualified person”as defined in National Instrument 43-101 — Standards of Disclosure for MineralProjects . Mr. Raffle has verified the datadisclosed, which includes a review of the sampling, analytical andtest data underlying the information and opinions containedherein. Mineralization hosted on nearbyproperties is not necessarily indicative of mineralization that may behosted on the Alwin property.
About GSP Resource Corp. : GSP Resource Corp. is a mineral exploration &development company focused on projects located in SouthwesternBritish Columbia. The Company has an option to acquire a 100%interest and title to the Alwin Mine Copper-Gold-Silver Property inthe Kamloops Mining Division, as well as an option to acquire 100%interest and title to the Olivine Mountain Property in the SimilkameenMining Division, of which it has granted an option to earn a 60%interest to a third party .
Contact Information - For more information, please contact:
Simon Dyakowski, Chief Executive Officer &Director
Tel: (604) 619-7469
Email: simon@gspresource.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward-Looking Information
This news release contains “forward?lookinginformation or statements” within the meaning of applicablesecurities laws, which may include, without limitation, the current and ongoing drill program (including the size ofthe drill program), magnetic survey and resultsand interpretations therefrom, potential drill targets and theobjectives, future exploration work on the Company’s projects, otherstatements relating to the technical, financial and business prospectsof the Company, its projects and other matters . All statements in this news release, other thanstatements of historical facts, that address events or developmentsthat the Company expects to occur, are forward-looking statements.Although the Company believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsmay differ materially from those in the forward-looking statements.Such statements and information are based on numerous assumptionsregarding present and future business strategies and the environmentin which the Company will operate in the future, including the priceof metals, the ability to achieve its goals, that general business andeconomic conditions will not change in a material adverse manner, thatfinancing will be available if and when needed and on reasonableterms. Such forward-looking information reflectsthe Company’s views with respect to future events and is subject torisks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation ofexploration results, risks related to the inherent uncertainty ofexploration and cost estimates and the potential for unexpected costsand expenses, and those filed under theCompany’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materiallyfrom those in forward looking statements include, but are not limitedto, continued availability of capital and financing and generaleconomic, market or business conditions, adverse weather and climateconditions, failure to maintain or obtain all necessary governmentpermits, approvals and authorizations, failure to maintain or obtaincommunity acceptance (including First Nations), decrease in the priceof copper, gold, silver and other metals, increase in costs,litigation, and failure of counterparties to perform their contractualobligations. The Company does not undertake toupdate forward?looking statements or forward?looking information,except as required by law.
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