(TheNewswire)
Vancouver, B C - TheNewswire - January 26, 2023 - GSP Resource Corp. ( TSXV:GSPR ) ( FRA:0YD ) (the“ Company ” or “ GSP ”) providesshareholders with the following outlook for 2023 and review of 2022activities. GSP’s core asset is an option to acquire a 100% interestin the past producing Alwin Copper Mine located in BC’s HighlandValley Copper Camp.
Simon Dyakowski CEO of GSP commented: “2022 was achallenging year for junior base metals exploration companies, withthe price of copper declining significantly through mid-year beforestaging a recovery into year-end. Amid the challenging marketbackdrop, GSP made the decision to curtail exploration activities atthe Alwin mine to best preserve the company’s capital structure. With a recovery in copper prices underway in the fourth quarter of2022, GSP retained the services of APEX Geosciences to re-model andreview data from Alwin mine exploration programs and historicdevelopment. This data review is now well underway, and we expect toannounce results and recommendations of the study over the firstquarter 2023, ahead of the Spring field season.”
2022 Year in ReviewHighlights:
Alwin Mine Project
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Engaged APEX Geoscience Ltd. ( APEX ”) of Edmonton,AB, as geological consultants to conduct a review of the Alwin MineCopper-Silver-Gold Project and recommend the next stage of explorationfor the project.
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The data review is currently underway and is expectedto reinterpret both historic drilling mining data, GSP’s 3Dmodelling of the historic mine workings, and GSP’s 2020-2022exploration programs on the Alwin project.
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Reported results of 2021 Fall drilling program with ahighlight intersection of 1.6 meters averaging 10.4 gpt Gold, 16 gptSilver and 1.24% Copper (6.13% CuEq) (see GSP’s news release datedMay 18, 2022).
Corporate
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Closed oversubscribed financing in December2022.
Outlook for 2023
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Alwin: Completion ofAPEX data review and recommendations to advance Alwin Project
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Alwin: Plan a substantial follow up exploration programto support a potential future resource estimate and test additionaltargets.
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Continually evaluate new opportunities to addshareholder value through the acquisition of projects in theAmericas.
About the Alwin Mine Project: The Alwin Mine Copper-Silver-Gold property isapproximately 575.72 hectares and is located on the semi-arid,interior plateau in south-central British Columbia. It is adjacentwith the western boundary of Teck Corporation’s Highland ValleyMine, the largest open-pit porphyry copper-molybdenum mine in westernCanada. Alteration and mineralization of the Highland Valleyhydrothermal system extends westward from the Highland Valley mineonto the Alwin property (see GSP’s news release dated January 30,2020).
Qualified Person: The scientific and technical disclosure contained in thisnews release has been reviewed and approved by Christopher I.Dyakowski, P. Geo., a director of the Company and a “QualifiedPerson” as that term is defined in National Instrument 43-101 – Standards of Disclosure forMineral Projects . Mineralization hosted on nearby properties is notnecessarily indicative of mineralization that may be hosted on theAlwin 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 the review by Apex and the recommended workprogram on the Alwin property, future exploration work on theCompany’s projects, potential resource estimate, potentialacquisition of other projects, other statements relating to thetechnical, financial and business prospects of the Company, itsprojects and other matters . All statements inthis news release, other than statements of historical facts, thataddress events or developments that the Company expects to occur, areforward-looking statements. Although the Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results may differ materially from those in theforward-looking statements. Such statements and information are basedon numerous assumptions regarding present and future businessstrategies and the environment in which the Company will operate inthe future, including the price of metals, the ability to achieve itsgoals, that general business and economic conditions will not changein a material adverse manner, that financing will be available if andwhen needed and on reasonable terms. Such forward-looking informationreflects the Company’s views with respect to future events and issubject to risks, uncertainties and assumptions, including the risks and uncertainties relating to theinterpretation of exploration results, risks related to the inherentuncertainty of exploration and cost estimates and the potential forunexpected costs and expenses, and those filedunder the Company’s profile on SEDAR at www.sedar.com . 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 conditions,failure to maintain all necessary government permits, approvals andauthorizations, failure to maintain community acceptance (includingFirst Nations), decrease in the price of copper, gold, silver andother metals, increase in costs, litigation, and failure ofcounterparties to perform their contractual obligations. The Company does not undertake to update forward?lookingstatements or forward?looking information, except as required bylaw.
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