GSP Commences Geophysical Survey at Alwin Mine Property
thenewswire.com
Vancouver, British Columbia – TheNewswire - June 24, 2025: GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD / OTC: GSRCF) (the “Company” or “GSP”) announces it has commenced an NSAMT (natural-source audio-frequency magneto-telluric) geophysical survey at the Alwin Mine Property. The survey is the first property-wide geophysical survey conducted at Alwin Mine Property in nearly 20 years.
The NSAMT survey is expected to explore the presence of deep seated conductive/resistive features beneath the Property and the shallow Copper-Gold-Silver open pit and underground resource. These bodies could indicate the presence of Porphyry style mineralization. The Alwin Project has significant exploration upside with the potential to grow open pit mineralization along strike and at depth as well as several underexplored porphyry style copper targets hosted.
Publicly available exploration data from Teck Resource’s Highland Valley Copper (“HVC”) adjacent claims shows that historic IP anomalies coincident with HVC operations and exploration drill targets extend westward onto the Alwin claims. Notably, 2015 diamond drilling of these IP anomalies by Teck Resources at the Bethsaida Zone located 700 meters east of Alwin yielded significant intercepts of porphyry style copper mineralization 1 (see Figure 1 below).
Figure 1: Plan Map of Alwin Project and HVC IP anomalies / Drilling
Click Image To View Full Size
2025 Exploration Plans:
GSP’s 2025 Alwin and Mer exploration strategy commences with the Alwin Property NSAMT survey. 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. Drill permitting for the Mer Property commenced in the first quarter of the year and is progressing.
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.
Additional 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 weeks.
Options Grant:
GSP also announces it has granted an aggregate of 2,050,000 stock options to consultants, management, and directors of the Company. The stock options are exercisable to acquire common shares at an exercise price of $0.10 per common share for a term of five years and vesting immediately, pursuant to the terms of the Company’s stock option plan.
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 3.
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 and Mer Projects, the potential presence of copper, gold, silver and polymetallic mineralization at the Alwin Project, further evaluation of copper, gold, silver, and polymetallic mineralization at the Alwin and Mer Projects, 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 Mineralization hosted on nearby properties is not necessarily indicative of mineralization that may be hosted on the Alwin Project.
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 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) |
