(TheNewswire)
News Release - Vancouver, BritishColumbia – TheNewswire- April 17, 2023: GSP Resource Corp. ( TSXV:GSPR ) (the “ Company ” or“ GSP ”) announces the results of initial 3D mineralizationmodelling for the Alwin Mine Copper-Silver-Gold Project (the “AlwinProperty”) located in the Highland Valley Copper Camp of BritishColumbia. The recently completed 3D copper mineralization model hasidentified multiple new high priority drill ready targets within theAlwin Mine area.
The copper mineralization model integrates over 4,000individual copper assays from more than 450 diamond drill holes forwhich results are available ( see the Company’s news release dated March 14, 2023 ). Based on these data points the copper grade shells weregenerated via implicit modelling, which were further constrained bythe incorporation of structural trend surfaces based on the geometryof historically mined high-grade copper zones ( Figure 1 ).
With the historic data compilation and mineralizationmodel already generating targets for potential follow-up drilling, theCompany looks forward to updating shareholders as it advances itsplans towards a 2023 diamond drill campaign.
Highlights of new 3D mineralizationmodel:
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Multiple new untested high prioritydrill ready targets occurwithin the Alwin Mine defined by themineralization model,
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Potential for previously unrecognized moderate west, and shallow east plungingcontinuity of high-grade copper zones,
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High grade copper zones defined bydrilling and underground mining remain open along corridors at mid-depths, and down plunge to the west and to theeast, beyond the extent of the historic underground workings,
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New drill targets are underscored bythe Company’s recent diamond drill results that yielded:
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3.4% copper (Cu), 2.3 grams-per-tonne(g/t) gold (Au), and 40 g/t silver (Ag) over 6.4 m within drill hole AM-21-01A ,
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3.0% Cu and 12 g/t Ag over 20m within AM-21-05 , which includes 7 m of unsampledunderground void space,
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10.4 g/t Au, 1.2% Cu, and 16 g/t Agover 1.6 m within AM-21-08B , inaddition to,
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6.3% Cu over 3.6 m in drill hole 08-04A completed by a previous operator thatterminated within historic workings 1
GSP’s President & CEO, Simon Dyakowski,commented: “With therelease of the first 3D mineralization model for the high-grade pastproducing Alwin Copper-Silver-Gold Mine we continue to demonstrate the significantexploration upside of our flagship asset. The combination of anexpansive historic drill hole and underground development dataset andmodern 3D data analysis has yielded multiple untested high prioritydrill targets and an enhanced understanding of the structural controlsand continuity of copper mineralized zones not previously recognized. The Company looks forward to further refining its Alwin Projectexploration model as we look to advance our 2023 diamond drillcampaign plans.”
Figure 1: AlwinMine 3D Compilation Showing >2% Copper Exploration Model andPotential Drill Targets (oblique view looking southwest)
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 forMineral Projects . Mr. Raffle has verified thedata disclosed, which include 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, completion of drilling plans on the Alwin property, futureexploration work on the Company’s projects, other statementsrelating to the technical, financial and business prospects of theCompany, 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.sedar.com . Factors that could cause actualresults to differ materially from those in forward looking statementsinclude, but are not limited to, continued availability of capital andfinancing and general economic, market or business conditions, adverseweather conditions, failure to maintain all necessary governmentpermits, approvals and authorizations, failure to maintain communityacceptance (including First Nations), decrease in the price of copper,gold, silver and other metals, increase in costs, litigation, andfailure of counterparties to perform their contractualobligations. The Company does not undertake toupdate forward?looking statements or forward?looking information,except as required by law.
1 The estimated true widthof mineralization is approximately 40-50% of the drilled width; seethe Company’s news release dated October 14, 2021, March 2, 2021,and May 18, 2022.
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