News Release – Vancouver, British Columbia – December 9, 2021: GSP Resource Corp. (TSX-V: GSPR) (FRA: 0YD) (the “Company” or “GSP”) announces that it has completed its Fall 2021 drilling campaign at the Alwin Mine project (the “Alwin Property”) located in the Highland Valley Copper Camp of British Columbia.
The fall program consisted of 3 holes totalling 895.5 meters and was designed to further test the bulk grade of the Alwin deposit and surrounding lower grade rock with the drill holes collared from the north of the historic deposit. Assay results are expected to be received in the first quarter of 2022.
Most of the alteration and mineralization observed in the upper and lower portions in all deeper drill holes intersecting rock greater than 20 metres from the shell of the Alwin deposit have porphyry copper style characteristics similar to that seen nearby in the Highland Valley camp.
The fall drilling program followed up on a 5-hole summer program. Together with summer drilling, GSP’s 2021 program totalled 2,313 meters, testing the bulk tonnage copper potential of unmined mineralization within and surrounding the historic Alwin mine (please see news release dated October 14, 2021).
Alwin Summer 2021 Drilling Program Bulk Tonnage Grade Highlights:
- Hole AM21-05 – 0.61% CuEq over 164.6 m;
- Hole AM21-02 – 0.14% CuEq over 176.7 m;
- Hole AM21-01 – 0.21% CuEq over 229.7 m, including:
- 0.28% CuEq over 158.5 m
- 0.48% CuEq over 79.3 m
About the Alwin Mine Project: The 575.72 hectares Alwin Mine Copper-Silver-Gold property is located on the semi-arid, interior plateau in south-central British Columbia and is adjacent to Teck
Resources Limited’s Highland Valley Copper Mine. The historic underground mine, which was developed over 500 metres long by 300 metres deep by 200 metres wide volume produced from 1916 to 1981 from five major subvertical zones 233,100 tonnes that milled 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 and silver content associated with bornite increase with depth within the individual mineralized zones.
Qualified Person: The scientific and technical disclosure contained in this news release has been reviewed and approved by Leopold J Lindinger, P. Geo, a consultant of the Company and a “Qualified Person” as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Lindinger verified the 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.
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 Property in the Kamloops Mining Division. GSP also owns 100% of the Olivine Mountain Property in the Similkameen Mining Division of which Full Metal Minerals Ltd. has an option to earn a 60% interest.
Contact Information – For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: (604) 619-7469
Email: simon@gspresource.com
