GSP Resource Corp. Mobilizes Field Crews to Alwin Copper Mine for Fall 2021 Drill Program
19 October 2021 - 11:00PM
GSP Resource Corp. (
TSX-V: GSPR) (
FRA:
0YD) (the “
Company” or
“
GSP”) announces that field crews have mobilized
to prepare for an approximate 1000m drilling campaign at the Alwin
Mine project (the “
Alwin Property”) located in the
Highland Valley Copper Camp of British Columbia.
The drilling program is expected to commence by
month-end and is designed to further test the bulk tonnage grade
potential north of Alwin deposit with 3 diamond drill holes
collared from the north of the historic deposit.
The upcoming drill program follows up on a 5
hole summer program that totalled 1,439 meter 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
Figure 1: Map of GSP Alwin Project and
Highland Valley Copper (Valley Pit)
Link to Map of GSP Alwin Project and
Highland Valley Copper (Valley Pit)
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. The historic underground mine, which was developed over
500 meters long by 300 meters deep by 200 meters 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 Christopher I. Dyakowski, P. Geo,
a director of the Company and a “Qualified Person” as that term is
defined in National Instrument 43-101 – Standards of Disclosure for
Mineral Projects.
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.
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, additional
drilling planned for the Alwin project in 2021, 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 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 and 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. 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, failure to secure personnel and equipment
for work programs, adverse weather and climate conditions, failure
to maintain all necessary government permits, approvals and
authorizations, decrease in the price of copper and other metals,
failure to maintain community acceptance (including First Nations),
increase in costs and litigation. The Company does not undertake to
update forward‐looking statements or forward‐looking information,
except as required by law.
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