GSP Targets New High-Grade Gold Discovery Leveraging Existing Copper Resources at Alwin Mine Property
thenewswire.com
ancouver, British Columbia – February 24, 2025 – TheNewswire - GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD / OTC: GSRCF) (the “Company” or “GSP”) provides an overview of planned follow up to the recent High-Grade Gold Discovery made at the 100% owned Alwin Mine Project in Southwestern British Columbia (please see summary news release dated February 19th, 2025). The recently completed drilling marked a sea change for the Alwin Mine Project with the discovery of high-grade gold values in step-out hole AM-24-06 that yielded 5.04 grams-per-tonne (g/t) Gold (Au) and 1.01% Copper (Cu) Over 7.90 metres (m); including 22.93 g/t Au and 1.82% Cu Over 1.64 m 1. With analysis of the recent drill results now completed, GSP announces additional high-grade gold drill targets are planned for 2025.
The Alwin Project currently hosts an inferred mineral resource comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08% Cu, yielding 34.6 million pounds of Cu 2. Potentially significant silver and gold values have long been known at Alwin, however a lack of historic assays for these metals prior to drilling by GSP has precluded their inclusion in resource estimation. The new discovery within west-side step-out drill hole AM-24-06 at a depth 40 m below the current resource pit shell presents an opportunity to augment existing open pit and underground mineable copper resources with high-grade gold values.
Significantly, high-grade gold values in AM-24-06 occur in a 1.64 m core width interval, which includes an individual sample of 0.84 m assaying 35.1 g/t Au (1.02 oz/ton), within the interpreted hangingwall of a broader 7.9 m core width copper-gold-silver zone 3.
The occurrence of high-grade gold values, below the vertical projection of existing “3 Zone” modelled copper resources, affirms the Company’s belief that these two contrasting mineralization styles are structurally and genetically linked, and can be successfully targeted within the context of the current Alwin Mine geological model. Additionally, the Alwin high-grade gold mineralization is visually distinct from the broader copper zones and is marked by the presence of intense texturally destructive black chlorite-sericite alteration.
For the 2025 exploration season, GSP is planning an initial phase of drilling designed to infill and potentially expand the footprint of important high-grade gold mineralization with AM-24-06. The drilling is designed to test both laterally and vertically beyond AM-24-06 to provide additional intercepts to confirm the structural setting, as well to extend the depth of drill holes to test additional modelled copper lodes within the structural footwall to the north that are equally as prospective (Figure 1).
The 2025 exploration season is also expected to pursue additional targets adjacent to the Alwin Open Pit Resource area as well as near other mineral showings on the Property. The upcoming exploration work is subject to financing and market conditions and the Company’s board of directors’ discretion. GSP expects to announce further exploration plans to delineate additional precious metal and polymetallic exploration targets over the coming months approaching the Spring and Summer field season.
Simon Dyakowski, CEO of GSP commented, “The discovery of high-grade gold mineralization represents a unique opportunity to re-frame the Alwin Mine Project in the context of its potential to host broader copper plus gold-silver resources. The resource expansion potential represented by these high-grade gold zones in the context of potential copper equivalence, if we can establish geologic continuity, cannot be understated.”
Figure 1: Alwin Mine Planned High-Grade Gold Target 
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About the Alwin Mine Project
The Alwin Mine Copper-Silver-Gold property is approximately 344 hectares and is located on the semi-arid, interior plateau in south-central British Columbia. The historic underground mine was developed over 500 m long by 200 m wide by 300 m deep. Production took place between 1916 to 1981 from five major subvertical high-grade copper mineralization zones totaling 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.
The Alwin Project hosts a current inferred mineral resource comprising 1.46 million tonnes (Mt) tonnes, at an average grade of 1.08% Cu, yielding 34.6 million pounds of Cu 4.
The Alwin Project is adjacent with the western boundary of Teck Resources’ Highland Valley Mine, the largest open-pit porphyry copper-molybdenum mine in western Canada. Alteration and mineralization of the Highland Valley hydrothermal system extends westward from the Highland Valley mine onto the Alwin Project (see GSP’s news release dated January 30, 2020).
Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), principal and consultant of APEX Geoscience Ltd. of Edmonton, AB, a consultant to the Company and a “qualified person” as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin Project.
About GSP Resource Corp.
GSP Resource Corp. is a mineral exploration & development company focused on projects located in Southwestern British Columbia. The Company owns 100% interest and title to the Alwin Mine Copper-Gold-Silver Property, and the Mer Property, in the Kamloops Mining Division, as well as a 100% interest and title to the Olivine Mountain Property in the Similkameen Mining Division, of which it has granted an option to earn a 60% interest to a third party.
For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: +1 (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, completing planned work, advancing the Alwin Project, the potential presence of high-grade gold mineralization at the Alwin Project, further evaluation of gold mineralization at 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 filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. 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 or climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals, 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.
1 See GSP Resource Corp. news release dated January 16, 2025
2 Independent NI 43-101 Technical Report Alwin Copper-Silver Gold Project, with an effective date of September 16, 2024, and prepared by Apex Geoscience Ltd. is filed under the GSP Resource Corp. Issuer Profile SEDAR+ (www.sedarplus.com)
3 The estimated true width of mineralization is approximately 75% of the drilled width
4 See GSP Resource Corp. news release dated December 4, 2024 |
