(TheNewswire)
News Release - Vancouver, BritishColumbia – TheNewswire - January 17, 2024: GSP Resource Corp. ( TSXV:GSPR ) ( FRA:0YD ) (the“ Company ” or “ GSP ”) providesshareholders with the following outlook for 2024 and review of 2023activities. GSP’s core asset is an option to acquire a 100%interest in the past producing Alwin Copper Mine located in BC’sHighland Valley Copper Camp.
Christopher I. Dyakowski, Chairman of GSP Stated:“GSP’s principal asset is an option to acquire 100% of one of themost strategically located high-grade copper and polymetallic projectsin British Columbia. The Company is advancing the project at anexciting time in the copper market with BloombergNEF reporting that‘ demand for copper is setto continue rising and is anticipated to exceed primary supply withinthe next four years. The mismatch in supply and demand is likely toresult in copper prices surging 20% by 2027’.”
Simon C. Dyakowski, CEO of GSP commented: “2023 was aturnaround year for GSP Resource Corp. as we successfully restartedexploration activities in the third quarter upon completion of datareview and modelling efforts earlier in the year. Our new databaseof over 60,000m of historical drilling data has resulted in thecreation of new digital tools, assisting us in geological modellingand targeting potential expansions of the Alwin mine mineralization. With the data compilation in hand, GSP was able to finance andmobilize a follow up exploration and drilling program in the Summerwhich was successfully completed in the Fall. We now eagerly awaitthe receipt of assays results from our recently completed drillingprogram.”
2023 Year in ReviewHighlights:
Alwin Mine Project
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Completed the Digital and 3D spatial capture of 646drill holes totaling 51,304 metres completed from surface andunderground between 1967-1981, in addition to 36 recent surfaceexploration diamond core holes totaling 5,600 metres drilled by theCompany and previous operators, representing over $20 million inpresent day exploration value assuming all-up drilling costs of$400/metre, not including underground development costs.
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Completed a mineralization model generating multiplenew untested high priority drill ready targets within the Alwin Minedefining the potential for previously unrecognized moderate west, andshallow east plunging continuity of high-grade copper zones.
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Planned and completed a detailed ground magnetic surveyand surface diamond drill program. The 2023 drill program consisted of5 drill holes and was designed to target potential extensions of knownhigh grade copper zones at the Alwin Property located in the HighlandValley Copper Camp of British Columbia.
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All five 2023 drill holes exhibitedvisual sulphide mineralization intervals interpreted to be part of oradjacent to the historic 4 Zone, assay results of the drilling arepending for release in early 2024.
Corporate
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Closed private placement financings totaling over$815,000.
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Appointed Mr. Rodney Stevens, CFA to the Board ofDirectors and Mr. Allen David V. Heyl, B.Sc., CPG., to the TechnicalAdvisory Board.
Outlook for 2024
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Alwin: Report assay results of recently completed fieldexploration and drilling program.
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Alwin: Plan a substantial follow up data interpretationand exploration program to support a potential future resourceestimate and test additional targets.
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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, the receipt of assay results, the potential future resourceestimate and completing additional work on the Alwin property, theevaluation of potential new projects, 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.sedarplus.ca. Factors that could cause actual results todiffer materially from those in forward looking statements include,but are not limited to, continued availability of capital andfinancing and general economic, market or business conditions, adverseweather and climate conditions, failure to maintain all necessarygovernment permits, approvals and authorizations, failure to maintaincommunity 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 contractual obligations. The Companydoes not undertake to update forward?looking statements orforward?looking information, except as required by law.
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