GSP Resource Corp. (
TSX-V: GSPR) (
FRA:
0YD) (the “
Company” or
“
GSP”) announces the final diamond drill results
from the Phase 1 2020 drilling program at the Alwin Mine project
(the “
Alwin Property”) located in the Highland
Valley Copper Camp of British Columbia.
GSP President & CEO Simon Dyakowski,
commented:
“We are encouraged
with the early results of GSP’s first phase of drilling at Alwin.
Initial results have confirmed the presence of shallow, high-grade
copper as well as its potential for bulk tonnage mineralization.
The shallow bulk tonnage potential of the Alwin Mine project is
compelling due to the project’s location adjacent to Teck
Resource’s Highland Valley Mine operations including its favourable
elevation and hill-top topography. Several relatively shallow
intersections from the Phase 1 drilling program at Alwin met or
exceeded the average grade of the mineral resources reported at the
adjacent Highland Valley Mine and provide us with the confidence to
continue pursuing Alwin for its potential as bulk tonnage
deposit.”
A Media Snippet accompanying this announcement
is available by clicking on the image or link below:
Map of GSP Alwin Project and Highland Valley
Copper (Valley Pit)
Based on Phase 1 2020 drill results, the Company
intends to complete additional drilling on the Alwin Property with
its cash on hand. In preparation for follow up drilling, GSP
intends to complete further 3-dimensional modelling to integrate
the recently completed drilling data into the existing Alwin Mine
model. This is expected to be completed before the start of the
Spring and Summer exploration season.
Deep Drilling Highlights:
Hole AM20-10D was drilled from the south
(property boundary) to target the deep, unmined portion of the #6
zone, as well as the #1 zone, and to confirm historic
mineralization below the unmined portion of the #3 zone, 30 metres
north of the #6 zone. Hole 10D successfully intersected the #1 zone
at 131.85 m, however, the hole was terminated at 224.4 metres in an
unanticipated Alwin Mine exploration drift.
Hole AM20-10E was wedged from 10D at 133 metres
and successfully intersected the #1 zone and part of the unmined
portion of the #6 zone and lastly the #3 zone. The #6 zone
intersection returned 0.81% copper equivalent over 22.6
metres from 287.9 metres including 5.98% copper
equivalent, (4.6% copper, 0.6 g/t gold and 80 g/t silver) over 2.6
metres. This is a partial intersection as the hole
intersected the zone in the floor of #6 zone mine drift. The hole
also intersected the #1 zone which from 132.5 metres returned
0.21% copper equivalent over 13.3 metres.
Hole AM20-09 was collared about 75 metres north
of holes 1 and 7 and targeted the centre of a strong medium depth
chargeability anomaly and the down dip potential of a 2008 drill
intersection. The hole was collared beside an open historic trench
hosting copper mineralization. This hole from the surface
intersected “Alwin” style mineralization grading 0.195%
copper equivalent over 36.6 metres including 1.05
metres grading 3.39% copper equivalent (#7 zone) and from
104.3 metres 0.198% copper equivalent over 22.15 metres
including 0.86% copper equivalent over 4.55 metres (#8
zone). The hole had several more copper intersections including
from 221.7 metre 0.205% copper equivalent over 7.9 metres including
1.01% copper equivalent over 1.1 metre and from 808.6 metres 1.02%
copper equivalent 0.6 metre.
View: Alwin 2020 Phase 1
Drill Program Plan MapLink:
Section view hole AM20-09 and AM20-10D/E
As this hole was collared into mineralization
the at the surface intersection is only a partial one and the 60+
metre strike between AM20-01-07 and hole AM20-09 remains
untested.
The 2020 drilling indicates that many of the
higher-grade copper intercepts contain significant (over 0.02% to
0.13%) molybdenum with minor rhenium. GSP expects to continue
exploration to expand the unrecognized, at surface bulk tonnage,
potential of Alwin Mine portion of this property.
In addition to the main Alwin Mine target the
property hosts several incompletely explored porphyry
copper-molybdenum exploration targets to the north and west of the
mine. The Alwin deposit’s known east end is less than 2.5 km west
of and 270 metres higher than the Valley pits west edge of Teck
Corporation’s Highland Valley Mine, the largest open-pit porphyry
copper- molybdenum mine in Canada. The Highland Valley Mine had a
reported 0.278% copper head grade according to a 2019 presentation
(https://www.teck.com/media/Teck-Highland-Valley-Copper-Site-Visit-2019-HVC-Presentation.pdf)
and Teck Resource’s 2020 Annual Information Form (“AIF”) filed on
SEDAR reports mineral reserves at the Highland Valley mine using a
0.09% CuEq cutoff grade.
The Phase 1 program was designed to infill
between the surface, in between and under both shallow and deep
historic drill or mine intersections and to test for additional
mineralization north and south of the known deposit. Significant
geological knowledge was gained regarding copper and molybdenum
mineral zonation, timing, and similarities and differences with
relation to the Valley-Lornex hydrothermal system.
2020 ALWIN MINE DEEP DRILLING AM20-9 & AM20-10D/E,
SHALLOW DRILLING AM20-04 & AM20-08, COPPER EQUIVALENT DRILL
RESULTS |
HOLE ID |
TARGET |
FROM |
TO |
LENGTH |
EST. TRUE WIDTH |
% Cu Eq |
Cu % |
Au ppb |
Ag ppm |
Mo ppm |
AM20-04 |
4N EAST |
39.75 |
40.4 |
0.65 |
0.45 (70% core loss) |
0.363 |
0.281 |
48.3 |
1.2 |
112.6 |
AM20-08 |
4N EAST |
|
|
|
No significant intersections |
|
|
|
|
|
AM20-09 |
#7 ZONE |
3.2 |
40.8 |
36.6 |
8.52 |
0.195 |
0.142 |
16.9 |
2.9 |
9.4 |
includes |
#7 ZONE |
7 |
8.4 |
1.4 |
0.63 |
0.334 |
0.0317 |
0.8 |
0.3 |
44.2 |
includes |
#7 ZONE |
36.8 |
37.85 |
1.05 |
0.5 |
3.39 |
3.19 |
96.7 |
5 |
205.2 |
AM20-09 |
#8 ZONE |
104.30 |
126.45 |
22.15 |
10 |
0.198 |
0.179 |
22.2 |
0.69 |
1.53 |
includes |
#8 ZONE |
104.3 |
104.6 |
0.3 |
0.1 |
1.21 |
0.7 |
693 |
4.1 |
0.6 |
includes |
#8 ZONE |
121.9 |
126.45 |
4.55 |
2 |
0.86 |
0.813 |
9.4 |
2.84 |
6 |
includes |
#8 ZONE |
121.9 |
123.2 |
1.3 |
0.55 |
2.706 |
2.56 |
27.8 |
9.5 |
0.8 |
includes |
#8 ZONE |
126.15 |
126.25 |
0.3 |
0.12 |
1.247 |
1.2 |
8.3 |
1.3 |
84.5 |
AM20-09 |
|
221.7 |
232.1 |
7.9 |
Unknown |
0.205 |
0.183 |
3.4 |
1.5 |
0.8 |
includes |
|
225.5 |
231.6 |
6.1 |
Unknown |
0.257 |
0.23 |
2.8 |
1.84 |
0.9 |
includes |
|
230.5 |
231.6 |
1.1 |
Unknown |
1.01 |
0.91 |
12.6 |
7.1 |
3.4 |
AM20-09 |
|
335 |
349.6 |
14.6 |
3 |
0.179 |
0.166 |
5.2 |
0.71 |
2 |
includes |
|
335 |
345.2 |
10.15 |
2 |
0.229 |
0.226 |
5.9 |
0.93 |
1.1 |
includes |
|
336 |
337 |
1 |
0.2 |
1.11 |
1.05 |
5.9 |
4 |
0.7 |
includes |
|
344.6 |
345.2 |
0.55 |
0.1 |
1.13 |
1.04 |
30.2 |
5.8 |
0.7 |
AM20-09 |
|
654.8 |
658 |
3.2 |
0.8 |
0.18 |
0.158 |
1.1 |
1.24 |
14.7 |
includes |
|
657.45 |
658 |
0.55 |
0.2 |
0.75 |
0.67 |
2 |
8.5 |
2 |
AM20-09 |
|
808.1 |
809.7 |
1.6 |
0.7 |
0.389 |
0.259 |
11.6 |
1.5 |
355.57 |
includes |
|
808.6 |
809.2 |
0.6 |
0.25 |
1.02 |
0.68 |
30.5 |
4 |
947.8 |
AM20-09 |
|
838.4 |
839.7 |
1.3 |
0.6 |
0.17 |
0.149 |
5.6 |
0.9 |
14.6 |
AM20-10D |
|
46 |
52 |
6 |
5.475 |
0.15 |
0.13 |
14.3 |
0.8 |
15.5 |
includes |
|
48 |
50 |
2 |
1.5 |
0.32 |
0.286 |
16.6 |
1.3 |
7 |
AM20-10D |
|
60.5 |
63.5 |
3 |
2.1 |
0.16 |
0.114 |
24.8 |
0.84 |
73.3 |
includes |
|
60.5 |
62.5 |
2 |
1.4 |
0.2 |
0.38 |
7.4 |
1.9 |
136 |
AM20-10D |
#1 ZONE |
131.85 |
149.1 |
17.25 |
11.2125 |
0.11 |
0.089 |
13.7 |
0.56 |
19.5 |
includes |
#1 ZONE |
133.65 |
135.1 |
1.45 |
0.9425 |
0.25 |
0.22 |
16.9 |
1.11 |
2.17 |
includes |
#1 ZONE |
140.5 |
145 |
4.5 |
2.925 |
0.17 |
0.144 |
20.7 |
1.07 |
5.4 |
includes |
#1 ZONE |
140.5 |
143 |
2.5 |
1.625 |
0.24 |
0.211 |
6.1 |
1.53 |
4.87 |
AM20-10D |
|
167.6 |
171.5 |
3.9 |
2.535 |
0.11 |
0.156 |
25.6 |
3.2 |
57.9 |
AM20-10D |
|
195.45 |
199.3 |
3.45 |
2.2425 |
0.2 |
0.118 |
7 |
1.02 |
302.6 |
AM20-10D |
|
210.6 |
211.65 |
1.05 |
0.6825 |
0.175 |
0.123 |
11 |
0.89 |
111.6 |
AM20-10E begins at 113 M from HOLE AM20-10D at 113 M. |
AM20-10E |
#1 ZONE |
131 |
151.6 |
20.6 |
10.3 |
0.16 |
0.135 |
8.3 |
0.94 |
12.7 |
includes |
#1 ZONE |
132.5 |
145.8 |
13.3 |
6.7 |
0.21 |
0.181 |
8.3 |
1.22 |
13.9 |
includes |
#1 ZONE |
132.5 |
135.55 |
3.1 |
1.5 |
0.48 |
0.444 |
6.9 |
2.62 |
2.9 |
includes |
#1 ZONE |
142.8 |
145.8 |
3.0 |
1.5 |
0.28 |
0.25 |
5.1 |
1.9 |
32 |
AM20-10E |
|
170.3 |
173.9 |
3.6 |
2.3 |
0.16 |
0.117 |
18.2 |
0.88 |
68.8 |
includes |
|
171.5 |
172.5 |
1.0 |
0.7 |
0.28 |
0.265 |
2.3 |
1.2 |
21.4 |
AM20-10E |
|
216.8 |
222 |
5.2 |
3.4 |
0.16 |
0.132 |
15.4 |
0.88 |
23.4 |
includes |
|
217.1 |
217.5 |
1.1 |
0.7 |
0.56 |
0.552 |
45.9 |
7.6 |
169.9 |
AM20-10E |
|
287.9 |
349.61 |
61.7 |
40.1 |
0.313 |
0.243 |
18.9 |
4 |
12.1 |
includes |
|
287.9 |
326.7 |
38.8 |
25.2 |
0.48 |
0.371 |
28.8 |
6.26 |
16.9 |
includes |
#6 ZONE DEEP |
287.9 |
310.5 |
22.6 |
14.7 |
0.81 |
0.628 |
48.1 |
10.68 |
24.3 |
includes |
#6 ZONE DEEP |
287.9 |
302 |
14.1 |
9.2 |
1.29 |
0.999 |
76.2 |
17.1 |
38.5 |
includes |
#6 ZONE DEEP |
287.9 |
290.5 |
2.6 |
1.7 |
5.98 |
4.6 |
372 |
80.1 |
187.4 |
includes |
#6 ZONE DEEP |
291.7 |
294.74 |
3.3 |
2.1 |
0.36 |
0.3 |
15.4 |
5 |
4.5 |
includes |
#3 ZONE DEEP |
341.55 |
346.8 |
5.3 |
3.4 |
0.11 |
0.092 |
4.7 |
0.41 |
15.6 |
includes |
#3 ZONE DEEP |
345.8 |
346.8 |
1.0 |
0.7 |
0.31 |
0.254 |
5.7 |
0.6 |
58.8 |
CU Eq (1*Cu + 7100*Au + 135*Ag + 2.85*Mo) Unassayed
intervals within composites were given 30 ppm Cu, 1 ppb gold, 1 ppm
silver and molybdenum values. |
Shallow Drilling Summary:
The previously released shallow drilling results
were recalculated to produce copper equivalent results using
copper, gold, silver and molybdenum results. At the 225 m long
shallow unmined portion of the #4 zone at the east end of the Alwin
Mine high grade copper was intersected in 6 of 8 short drill holes
reported highlighted by hole AM20-02 which returned 3.00%
copper equivalent over 3.95 meters starting at 19.6
meters. In total 9 of 11 holes intersected shallow bulk tonnage
mineralization highlighted by hole AM20-02 with 47.35
meters grading 0.31% copper equivalent starting from 5.5 meters to
the end of the hole 52.85 metres. Several shallow
higher-grade intersections had poor recoveries and the reported
grades can only be considered approximate.
View: Alwin 2020 Phase 1
Drill Program Plan MapLink:
Section view holes AM20-01 to AM20-08
2020 ALWIN MINE AM20-01 to 03, 05, 06A, 07 Cu
EQUIVALENT DRILL RESULTS |
HOLE ID |
TARGET |
FROM |
TO |
LENGTH |
EST. TRUE WIDTH |
% Cu Eq |
Cu % |
Au ppb |
Ag ppm |
Mo ppm |
% recovery |
Comment |
AM-20-01 |
4N WEST |
4.5+ |
19.5+ |
15 |
5.25 |
0.685 |
0.646 |
30.5 |
1.2 |
4.2 |
|
|
AM-20-01 |
4N WEST |
5.4 |
17.5 |
12.1 |
4.24 |
0.843 |
0.795 |
37 |
1.5 |
5.1 |
~70 |
|
includes |
4N WEST |
13.35 |
17.5 |
4.15 |
2.1 |
2.240 |
2.110 |
96.7 |
3.9 |
11 |
44 |
ground core |
includes |
4N WEST |
5.4 |
7.7 |
2.3 |
1.1 |
0.366 |
0.346 |
23.5 |
0.8 |
5.2 |
|
|
includes |
4N WEST |
16 |
17.5 |
1.5 |
0.53 |
3.22* |
3.000 |
97 |
3.9 |
11 |
5 |
ground core |
AM-20-02 |
4N WEST |
5.5+ |
52.85+ |
47.35 |
33.15 |
0.312 |
0.240 |
15.43 |
4.2 |
16.7 |
|
|
AM-20-02 |
4N WEST |
6.4 |
46.2 |
39.8 |
27.9 |
0.366 |
0.283 |
17.2 |
4.9 |
19.6 |
|
|
includes |
4N WEST |
18 |
25.3 |
7.3 |
5.11 |
1.730 |
1.390 |
2 |
24.3 |
11.3 |
|
ground core |
includes |
4N WEST |
19.6 |
23.55 |
3.95 |
2.77 |
3.000 |
2.450 |
3.6 |
42.7 |
17.2 |
85 |
|
includes |
4N WEST |
19.6 |
20.15 |
0.55 |
0.39 |
7.200 |
5.680 |
7.9 |
113.1 |
21.3 |
100 |
|
includes |
4N WEST |
22.75 |
23.35 |
0.8 |
0.56 |
9.600 |
7.990 |
11.8 |
120.3 |
45.7 |
53 |
ground core |
AM-20-03 |
4N EAST |
19.15 |
21.45 |
2.3 |
1.13 |
0.126 |
0.120 |
3.6 |
0.22 |
0.46 |
60 |
ground core |
AM-20-03 |
4N EAST |
24.43 |
27.8 |
3.37 |
1.66 |
0.260 |
0.222 |
5.32 |
1.94 |
23.66 |
|
|
AM-20-03 |
4N EAST |
24.43 |
24.95 |
0.52 |
0.2548 |
1.220 |
1.030 |
25 |
10.6 |
100.2 |
22 |
ground core |
includes |
4N EAST |
27.2 |
27.8 |
0.6 |
0.294 |
0.350 |
0.310 |
7.6 |
1.5 |
41.1 |
100 |
|
AM-20-05 |
4N WEST |
8.3+ |
40.3+ |
32 |
18.45 |
0.153 |
0.141 |
8 |
0.32 |
7.8 |
|
|
includes |
4N WEST |
8.8 |
29 |
20.2 |
14.14 |
0.215 |
0.202 |
|
|
|
|
|
includes |
4N WEST |
8.3 |
19.75 |
11.45 |
8 |
0.366 |
0.348 |
9.1 |
0.63 |
13.2 |
~85 |
|
includes |
4N WEST |
8.3 |
9.6 |
1.3 |
0.91 |
1.580 |
1.510 |
24 |
2 |
38.7 |
45 |
ground core |
includes |
4N WEST |
18.75 |
19.75 |
1 |
0.7 |
1.830 |
1.740 |
48.6 |
2.8 |
22.8 |
49 |
ground core |
AM-20-06A |
4N EAST |
24.88+ |
60.05+ |
33.07 |
23.15 |
0.193 |
0.168 |
4.1 |
0.7 |
41.8 |
|
|
includes |
4N EAST |
24.88 |
56.05 |
29.07 |
30.35 |
0.218 |
0.192 |
4.6 |
0.76 |
47.4 |
|
|
includes |
4N EAST |
24.88 |
35.8 |
10.92 |
7.64 |
0.550 |
0.480 |
9.5 |
1.8 |
121.7 |
|
|
includes |
4N EAST |
26.6 |
27 |
0.4 |
0.28 |
1.510 |
1.020 |
23.3 |
6.3 |
1393 |
49 |
ground core |
includes |
4N EAST |
29.05 |
30 |
0.95 |
0.67 |
3.640 |
3.450 |
72.1 |
10.3 |
654.8 |
100 |
|
includes |
4N EAST |
31.9 |
32.9 |
1 |
0.7 |
1.440 |
1.180 |
|
|
|
70 |
ground core |
AM-20-07 |
4N WEST |
2.8+ |
21.35+ |
18.55 |
11.3 |
0.277 |
0.261 |
6.8 |
0.47 |
16.7 |
|
|
AM-20-07 |
4N WEST |
4.3 |
20.38 |
16.08 |
9.9 |
0.310 |
0.290 |
6.4 |
0.48 |
18.2 |
~85 |
ground core |
includes |
4N WEST |
4.3 |
10.7 |
6.4 |
3.58 |
0.520 |
0.500 |
6.4 |
0.63 |
18.7 |
73 |
ground core |
includes |
4N WEST |
4.3 |
5.7 |
1.4 |
0.78 |
1.000 |
0.970 |
11.5 |
0.6 |
13.3 |
72 |
ground core |
includes |
4N WEST |
20.25 |
20.38 |
0.13 |
0.07 |
11.300 |
10.600 |
204.3 |
18.3 |
1308 |
100 |
|
* cut from 6.2% due to quantity of core loss uncertainty. |
+ start , end of hole or limit of sampling |
|
|
CU Eq (1*Cu + 7100*Au + 135*Ag + 2.85*Mo) Unassayed
intervals within composites were given 30 ppm Cu, 1 ppb gold, 1 ppm
silver and molybdenum values. |
Retraction and Correction
GSP has retracted and corrected certain of the
previously presented drill results highlights (see news release
dated December 23, 2020) as disclosed in the table below:
December 23, 2020 News Release |
Updated/Corrected Results |
Hole AM20-01: 2.27% copper over 12.1 metres in and 3.22% copper
over 4.15 metres |
Hole: AM20-01: 0.795% copper over 12.1 metres including 2.11%
copper over 4.15 metres |
Hole AM20-02: 39.8 meters of 0.40% copper starting from 6.40 meters
and including 7.30 meters of 1.39% copper |
Hole AM20-02: 39.8 meters of 0.283% copper starting from 6.40
meters and including 7.30 meters of 1.39% copper |
*These errors were made by the companies
qualified person who accepts all responsibility for the release of
these results.
Collar locations are in UTM Zone 10N metric
co-ordinates, and depths and analytical results are presented in
the three tables below for holes AM-20-01 to 06A, 07 and 08 with a
separate table for holes 09, 10D and 10E.
Table 3 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9b4157e-f7e2-4b85-85f7-a957ca555f3d
The Alwin Mine Copper-Molybdenum-Silver-Gold
property covers approximately 575.72 hectares and is located on the
semi-arid, interior plateau in south-central British Columbia. The
historic underground mine, which was developed over a 500 meters
long by 300 meters deep by 150 meters wide volume produced from
1916 to 1981 from six major subvertical zones 233,100 tonnes that
recovered 3,786 tonnes of copper, 2,729 kilograms of silver and
46.2 kilograms of gold. The average diluted head grade was 1.5 %
copper. Gold, silver and often minor molybdenum content is most
commonly associated with bornite-chalcocite mineralization that
originates from the bottoms and forms the bulk of the individual
mineralized zones.
The alteration and mineralization of the
Highland Valley hydrothermal system is considered to extend
westward onto the Alwin property (see GSP’s news release dated
January 30, 2020). The Alwin mineral system outcrops as
a hilltop with steep west, north and east down slopes creating a
favourable potential open pit strip ratio. Its elevation, relative
to the HVC operation make it a potential lower than normal energy
consuming operation. The HVC operation as previously mentioned has
a current overall head grade of 0.278% copper and run of mine 0.09%
copper equivalent cut-off.
Qualified Person: Exploration
activities at the Alwin mine project including QA-QC procedures and
protocols were designed by and supervised on site by the Company's
exploration consultant Leopold J. Lindinger, P.Geo. of Renaissance
Geoscience Services Inc. In accordance with National Instrument
43-101 Standards of Disclosure for Mineral Projects, Leopold J.
Lindinger, P.Geo. is the qualified person for the project and has
prepared, validated and approved the technical and scientific
content of this news release. The Company is attempting to adhere
to CIM best practices guidelines in conducting, documenting and
reporting the exploration activities on its projects. Mr. Lindinger
verified the data disclosed which includes a review of the
sampling, analytical and test data underlying the information and
opinions contained therein. Mineralization hosted on nearby
properties is not necessarily indicative of mineralization that may
be hosted on the Alwin property.
Quality Assurance -- Quality Control
(QA-QC) procedures: The QAQC program was designed and
overseen by Leopold J. Lindinger, P.Geo.. and is designed to adhere
to exploration CIM best practice guidelines.
The core was picked up by GSP contractors from
the drill and delivered to the on site core processing facility or
a secure facility in nearby Logan Lake. During the sample
identification process the consultant placed two portions of a
triplicate pre-numbered sample tag into the core box at the end of
the appropriate sample. Two portions (one retained in the sample
book) of the triplicate tag had the project name, drill hole #,
from and to distance in metres, date of sample, initial of the
logger on 2 of the portions. The third portion has only the client
name and sample number on it. All core processing procedures
described below were completed by independent to GSP consultants
and technicians. All drill core samples were sawn in half or
quartered with a rock saw, or ½ or ¼ split with a manual core
splitter. A ½ or two ¼ portions of the sample were placed into a
prelabelled bags and sealed along with the sample and client only
prelabelled sample tag portion. The remaining ½ pieces were placed
back into the core box into its proper location and orientation.
The other tag portion with the client name, from-to, core logger
and sampler initials was stapled to the bottom end of the
appropriate sample. The final third (book portion) with all the
information is temporarily retained by the project consultant for
future reference. The samples in the box were separated from each
other by staples or screws. The ¼ samples had significantly
different tag labels from the original label. The remaining drill
core is subsequently securely stored on site, or in Logan Lake B.C.
For chain of custody requirements all sealed sample bags were
placed into sealed sacks or boxes and delivered to bonded couriers
for delivery to the chosen analytical facilities. The consultant
inserted quality control samples at irregular intervals in the
sample stream, including blanks, reference materials to monitor
laboratory performance. The ¼ cut duplicates were made by ½ cutting
the to be sampled ½ of the original sample to determine
mineralization homogeneity and to monitor laboratory performance.
All core was imaged and density measurements made of most well
mineralized and adjacent intersections.
The prepared bagged drill core samples were
delivered to Bureau Veritas Mineral Laboratories (BV) analytical
facility in Vancouver, B.C., for preparation and analysis by
independent bonded couriers. The BV facility is accredited to the
Bureau Veritas system certification to internationally recognized
standards, including ISO 9001, ISO 14001, and OHSAS 45001 and is
independent of the Company and the qualified person. All analytical
methods include quality control materials at set frequencies with
established data acceptance criteria. The entire sample is crushed
and 0.25 kilogram is pulverized. Analysis for gold is by 30-gram
fire assay fusion with atomic absorption finish with a lower limit
of 0.01 part per million and upper limit of 100 parts per million.
Analysis for silver is by 30-gram fire assay fusion with
gravimetric finish with a lower limit of five ppm and upper limit
of 10,000 ppm. A 0.5 gm subsample for all samples was submitted for
digestion using BV’s 46 element multi-acid –ICP- ES/MS package. All
samples are also analyzed using a 48-multielement geochemical
package by a four-acid digestion. Copper reporting over 5000 ppm
and silver reporting over 1 ppm are analyzed using their MA-401
package producing % copper, and ppm silver results. The Company
detected no significant QA/QC issues during review of the data.
Other than poor core recovery of some high grade intersections the
Company is not aware of any drilling, sampling, or other factors
that could materially affect the accuracy or reliability of the
data referred to herein.
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-Molybdenum 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.
Contact Information - For more information,
please contact: Simon Dyakowski, Chief Executive Officer &
DirectorTel: (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, future
exploration work on the Company’s projects including drilling on
the Alwin Property, bulk tonnage potential of the Alwin project,
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 other risks
filed under the Company’s profile on SEDAR at www.sedar.com.
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
conditions, failure to maintain all necessary government permits,
approvals and authorizations, the impact of Covid-19 or other
viruses and diseases on the Company’s ability to operate, decrease
in the price of copper and other metals, failure to maintain
community acceptance (including First Nations), 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.
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