GSP Receives Results from ROCK Sampling Program and is IN Final Stages of Permitting FOR Diamond Drilling
GSP RECEIVES RESULTS FROM ROCK SAMPLING PROGRAM AND IS IN FINAL
STAGES OF PERMITTING FOR DIAMOND DRILLING
Vancouver, British Columbia – July 29, 2019: GSP Resource Corp. ( TSX-V: GSPR ) (the
“Company” or “GSP”) is pleased to announce that it is in the final stages of the permitting process
for the proposed drilling program on the Company’s Olivine Mountain property that is located in the
Similkameen Mining Division, 25 km northwest of Princeton, British Columbia.
Five drill targets have been established based on the C ompany’s exploration to date that includes a
VLF-EM airborne survey, a soil geochemical survey of the entire property, and mapping and
sampling.
Results from a recent rock-chip sampling of three of the proposed drill sites are as follows:
- Sample 1 1,031 ppb Au, 1.526% Cu and > 10,000 ppb Pd (Proposed Hole #5)
- Sample 2 1,415 ppb Au, 1.38% Cu and 337 ppb Pd (Proposed Hole #1)
- Sample 3 5.9% Cu (Proposed Hole # 4)
Proposed Holes #2 and #3 are covered by overburden, and therefore are not associated with known
showings. These two targets are coincidental soil and EM anomalies.
A fourth sample was collected from a showing that returned values of 125 ppb Au and 0.32 % Cu.
This showing will not be drilled in the upcoming drill program.
GSP President & CEO Simon Dyakowski stated: “We are encoura ged with these sampling results.
They confirm the strong presence of gold and palladium in a geological environment suited to host
massive sulphide (copper, nickel, gold, platinum, palladium) deposits in concentrically layered
mafic/ultramafic rocks of the Tulameen Batholith.”
Showings within the Tulameen Batholith are related to typical massive copper and nickel deposits in
mafic complexes such as at Voisey’s Bay (Labrador, Canada) and Norilsk (Russia).
The rock samples are considered “grab” samples from exposed and known showings on the Olivine
Mountain Property. Samples were submitted to the independent laboratory facility of Bureau Veritas
Commodities Canada in Vancouver, British Columbia. Analytical results were verified by the
insertion of certified reference materials, blanks and duplicates. Gold, platinum and palladium were
analyzed by FA330 methods and contents are reported in parts per billion (ppb). Copper and nickel
were analyzed by AQ370 methods and contents are reported as percentage (%). Alt hough platinum
and nickel are not detected as anomalous to economic levels in the rock samples, these metals are
detected as anomalous contents in previous soil geochemistry programs.
Qualified Person: The scientific and technical disclosure contained in this news release has been
reviewed and approved by John R. Kerr , P. Eng, a “Qualified Person” as that term is defined in
National Instrument 43-101 – Standards of Disclosure for Mineral.
About GSP Resource Corp.: GSP Resource Corp. is a mineral exploration company focused on
the acquisition, exploration and development of mineral resource properties. The Company has an
option to acquire a 100% interest and title to the Olivine Mountain Property.
Contact Information - For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: (604) 619-7469
Email: [email protected]
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, statements that address obtaining drill permits and the timing and content of
upcoming drill programs, and other statements relating to the business prospectus of the Company. 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 regarding present and future business strategies and the environment in which
the Company will operate in the future, including the price of metals, anticipated costs and 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 those filed under the
Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward‐ looking
statements or forward‐looking information, except as required by law. Investors are cautioned that any such statements
are not guarantees of future performance and actual results or developments may differ materi ally from those projected
in the forward-looking statements.