GSP Reports Initial Summer 2021 Drill Results for Alwin Mine Project, intersecting 3.50% Cu, 2.4gpt Au, 39.6 gpt Ag (4.66 CuEq) over 6.4 m Hole AM21-01: Bulk tonnage intersection of 0.28% CuEq over 158.5m, including 0.48% CuEq over 79.4m
GSP Reports Initial Summer 2021 Drill Results for Alwin Mine Project,
intersecting 3.50% Cu, 2.4gpt Au, 39.6 gpt Ag (4.66 CuEq) over 6.4 m
Hole AM21-01: Bulk tonnage intersection of 0.28% CuEq over 158.5m, including
0.48% CuEq over 79.4m
News Release - Vancouver, British Columbia – September 13, 2021: GSP Resource Corp. (TSX-
V: GSPR) (FRA: 0YD) (the “Company” or “GSP”) announces initial diamond drill results from
the Summer 2021 drilling program at the Alwin Mine project (the “Alwin Property”) located in the
Highland Valley Copper Camp of British Columbia.
Five holes totalling 1,439 meters were completed to test the bulk tonnage Copper potential of
unmined mineralization within and surrounding the historic Alwin mine. Complete analytical results
for holes AM21-1 and AM 21-3 have been received and analyzed, and results from holes AM21 -2,
AM21-4, and AM21-5 are expected to be received within the next four weeks.
Drill Highlights:
Hole AM21-01 – 0.28% CuEq (0.21% Cu) over 158.5 m, including:
o 0.48% CuEq (0.36% Cu, 0.2 gpt Au, 5.7 gpt Ag) over 79.4m
o 1.60% CuEq (1.19% Cu, 0.7gpt Au, 20.8 gpt Ag) over 21.1m
o 4.66 % CuEq (3.50% Cu, 2.4gpt Au, 39.6 gpt Ag) over 6.4m
o 6.15% CuEq (4.42% Cu, 3.5gpt Au, 92.8 gpt Ag) over 4.4 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)
Hole AM21-01 was targeted to intersect an unmined portion of the historic 4 South zone. The hole
was collared from the south of the Alwin deposit near its known eastern extent and successfully
intersected portions of several known and previously unrecognized copper mineral zones.
Highlight intersections include the targeted 4South zone grading 4.42% copper, 3.5 gpt gold, 92.8
gpt silver, and 0.14 ppm rhenium (6.15% CuEq) over a drilled width of 4.4m. Up hole from the
4South zone, drill hole AM21-01 intersected a post -Alwin Highland Valley style quartz vein
stockwork copper zone grading 0.133% copper and 0.204% copper equivalent over a 32.3m drilled
width from 102.7m to 134.0m. Similar mineralization was intersected in hole 20 -10D some 250 m
to the west (please see news release date March 2, 2021).
Extensions of the 4N orth zone were intersected at depth that graded 0.13% copper equivalent over
12.9 meters. The hole returned an overall bulk tonnage 158.5m width grading 0.284% CuEq from
both Alwin and Highland Valley style mineralization.
Link to section view of hole AM21-01A
Hole AM21-03 was collared 200m west southwest of hole AM21-01and drilled northeastward to a
deep unmined target of the historic #3 zone. The intersection is approximately 100 metres southwest
from the hole 1 target but 50 metres deeper. The hole steepened more than expected and the primary
target was undercut.
Link to section view of hole AM21-03
GSP President & CEO Simon Dyakowski, commented:
“Initial results of GSP’s Summer drilling program continue to support a shallow bulk
tonnage deposit model at Alwin. We are also encouraged by the presence of Gold and
Silver in the drill core, which represent some of the highest grades of precious metals
drilled in the Highland Valley Camp to date . The Alwin Mine project’s location
adjacent to Teck Resource’s Highland Valley Mine operations , including its
favourable elevation and hill-top topography, make the project a compelling open pit
target. The broad bulk tonnage grade copper intersections encountered in hole 1
compare favourably to the average grade of the mineral resources reported at the
adjacent Highland Valley Mine and provide GSP with the confidence to continue
pursuing Alwin for its potential as bulk tonnage deposit.”
GSP’s Summer 2021 drilling program focused on a 300m by 100m by 250m+ deep portion of the
Alwin “replacement-style” copper deposit. The style of m ineralization is observed as subvertical
individual, or multiple and closely spaced, subparallel in-situ muscovite-quartz-sericite wall rock
replacement zones. On a mine scale, the zones form a rough conjugate partially interlocking system
with subvertical WNW and WSW zones. Individual zones average 100 to 150 metres long by up to
250 metres vertical and zones can reach 10 metres thick grading over 4% copper.
Table 1: Assay intervals for holes AM21-01A & AM11-03
2021 DRILLING SUMMARY RESULTS
Hole FROM
(M) TO (M) DRILLED
LENGTH (M)
EST. TRUE
WIDTH (M)
%
Cu
Au
gpt
Ag
gpt % CuEq
AM21-01 102.7 261.2 158.5 111.0 0.21 0.28
AM21-01 INCL 102.7 134.0 32.3 20.9 0.13 0.20
AM21-01 INCL 181.9 261.2 79.4 55.6 0.36 0.2 5.7 0.48
AM21-01 INCL 181.9 202.9 21.1 14.7 1.19 0.7 20.8 1.60
AM21-01 INCL 187.1 193.5 6.4 4.4 3.50 2.4 39.6 4.66
AM21-01 INCL 187.1 191.5 4.4 3.1 4.42 3.5 92.8 6.15
AM21-01 INCL 249.3 262.2 12.9 8.0 0.13
AM21-03
AM21-03 8.5 72.9 64.4 39.3 0.07 0.09
AM21-03 INCL 40.4 44.2 3.8 2.3 0.53 0.65
AM21-03 208.5 212.1 3.6 2.1 0.44 0.48 0.81
AM21-03 265.4 271.4 6.0 3.8 0.16 0.23
Percent Copper equivalent grades are calculated from analyzed or assayed Copper results at $4.20/lb
($10.856/kg) X the Estimated True Width + sampled density divided by an average density of 2.655+
Gold result at $1750 oz ($51082.21/kg)+ Silver result at $23.5/oz ($685.96/ kg)+ Molybdenum result at
$19.5/lb ($50.7/kg)+ Rhenium result at $1300/kg). 1% is 10,000 ppm or 1,000,000 ppb. 1 oz/t = 34.2585
ppm (g/t).
Figure 2: GSP Alwin Project 2021 Drill Plan
Link to GSP Alwin Project 2021 Drill Plan
Table 2: 2021 Drill Collar Information
HOLE-ID UTM EAST UTM NORTH ELEV M LENGTH M BEARING DIP
AM21-01A 635483 5593476 1649 295 330 -45.6
AM21-03 635319 5593395 1643 306 29 -46.4
In addition to the main “replacement style” Alwin Mine target, the Alwin property hosts several
incompletely explored porphyry copper-molybdenum targets to the north and west of the mine. The
Alwin deposit’s known east end is less than 2.5 km west of and 270 metres higher than the Valley
pits west edge of Teck Corporation’s Highland Valley Mine, the largest open- pit porphyry copper-
molybdenum mine in Canada. The Highland Valley Mine had a reported 0.278% copper head grade
according to a 2019 presentation (https://www.teck.com/media/Teck-Highland-Valley-Copper-Site-
Visit-2019-HVC-Presentation.pdf) and Teck Resource’s 202 0 Annual Information Form (“AIF”)
filed on SEDAR reports mineral reserves at the Highland Valley mine using a 0.09% CuEq cutoff
grade.
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 volum e
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: Exploration activities at the Alwin mine project including QA -QC procedures
and protocols were designed by and supervised on site by the C ompany's exploration consultant
Leopold J. Lindinger, P.Geo. of Renaissance Geoscience Services Inc. In accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects, Leopold J. Lindinger, P.Geo. is the
qualified person for the project and has prepared, validated and approved the technical and scientific
content of this news release. The Company is attempting to adhere to CIM best practices guidelines
in conducting, documenting and reporting the exploration activities on its projec ts. Mr. Lindinger
verified the data disclosed which includes a review of the sampling, analytical and test 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.
Quality Assurance -- Quality Control (QA-QC) procedures: The QAQC program was designed
and overseen by Leopold J. Lindinger, P.Geo.. and is designed to adhere to exploration CIM best
practice guidelines.
The core was delivered to on site secure core processing facilities by the drillers. The core was then
washed, reassembled as best a possible, imaged, logged, and sampled. All personnel involved in the
core logging and sampling procedures were independent of GSP or directly supervised by
independent personnel. They included employees of Renaissance Geoscience services Inc., Waldo
Geological services and subcontractors supplies by GSP. Sampling was completed by sawing or
splitting the core in half. One half was replaced in its former position and orientation in the core box
and the other in a prelabelled poly bag. In addition to core, random blank or field standard material
were inserted into the sample stream. The blanks chosen were cement sand and massive homogenous
Tertiary basalt. The chosen standards were supplied by CDN Resource Minerals Ltd. of Langley
BC. Every run of 50 samples had at least one blank and standard placed into the sample stream.
Several samples were ¼ split with the samples associated with numerically significantly different
sample tags. Most samples and every well mineralized interval had at least one density measurement
taken. The material density measured was chosen by the core logger as representative of the material
in the sample.
Chain of Custody procedures.
The prepared bagged drill core samples were taken from the secure mine site by independent project
personnel to a truck loading point and delivered to Bureau Veritas Mineral Laboratories (BV)
analytical facility in Vancouver, B.C., for preparation and analysis by independent bonded trucking
company Overland West.
Laboratory qualifications and independence
The BV facility is accredited to the Bureau Veritas system certification to internationally recognized
standards, including ISO 9001, ISO 14001, and OHSAS 45001 and is independent of the Company
and the qualified person. All analytical methods include quality control materia ls at set frequencies
with established data acceptance criteria. The entire sample is crushed and 0.25 kilogram is
pulverized. Analysis for gold is by 30- gram fire assay fusion with atomic absorption finish with a
lower limit of 0.01 part per million and upper limit of 100 parts per million. Analysis for silver is by
30-gram fire assay fusion with gravimetric finish with a lower limit of five ppm and upper limit of
10,000 ppm. A 0.5 gm subsample for all samples was submitted for digestion using BV’s 46 element
multi-acid –ICP- ES/MS package. All samples are also analyzed using a 48 -multielement
geochemical package by a four-acid digestion. Copper reporting over 5000 ppm and silver reporting
over 1 ppm are analyzed using their MA -401 package producing % copper, and ppm silver results.
The Company detected no significant QA/QC issues during review of the data. Other than poor core
recovery of some high grade intersections , the Company is not aware of any drilling, sampling, or
other factors that could materially affect the accuracy or reliability of the data referred to herein.
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 & 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, receipt of assays, 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 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 other risks filed under the Company’s profile on SEDAR at
www.sedar.com. 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 and climate conditions, failure to maintain all necessary government permits, approvals and
authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, decrease in the
price of copper and other metals, failure to maintain community acceptance (including First Nations), 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.