GSP RESOURCE CORP. COMPLETES FIRST 8 HOLES AT ALWIN MINE PROJECT AND COMMENCES DEEP DRILLING 6 holes intersected “Alwin style” replacement copper sulphide mineralization GSP is now drilling to test deeper porphyry copper targets
GSP RESOURCE CORP. COMPLETES FIRST 8 HOLES AT ALWIN MINE PROJECT
AND COMMENCES DEEP DRILLING
6 holes intersected “Alwin style” replacement copper sulphide mineralization
GSP is now drilling to test deeper porphyry copper targets
News Release - Vancouver, British Columbia – September 24, 2020: GSP Resource Corp. (TSX-
V: GSPR) (FRA: 0YD) (the “Company” or “GSP”) is pleased to report that it has completed the
first eight holes of the Phase 1 drill program at its Alwin Mine Copper -Silver-Gold Project. The
initial eight holes of the program targeted shallow mineralization in the Alwin Mine #4 North east
and #4 North west zones. The initial eight holes of phase 1 shallow drilling consis ted of
approximately 400 meters and 6 holes intersected both “Alwin style” replacement copper sulphide
mineralization associated with structurally controlled sericite- quartz alteration zones and
overprinting quartz vein/stockwork hosted copper sulphide mineralization. The first batch of samples
from the phase 1 shallow program have been shipped to Bureau Veritas Mineral Laboratory for
geochemical analysis. Results are anticipated in the next 6 to 8 weeks.
The drill has now been mobilized to test a deeper ‘porphyry copper’ style target beneath 2008 holes
5 and 6 which intersected 0.28% copper over a core width of 21.1 meters and 0.44% copper over a
core width of 13.4 meters, respectively. Both 2008 holes also intersected smaller high -grade
intersections within and outboard of these. 1 The current deep drill hole is expected to total at least
600 meters, and GSP maintains the financial flexibility to expand this program by testing additional
deep targets if it decides to.
The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares and is located on the
semi-arid, interior plateau in south-central British Columbia. The underground historic mine, which
was developed over a 500 meters long by 300 meters deep by 150 meters wide area produced from
1916 to 1981 from six major subvertical zones 233,100 tonnes that milled 3,786 tonnes of copper,
2,729 kilograms of silver and 46.2 kilograms of gold. Gold and silver content associated with bornite
increase with depth within the individual mineralized zones.
The property also hosts several incompletely explored deep porphyry copper exploration targets to
the north and west of the mine. It is adjacent to the western boundary of Teck Corporation’s 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 onto the Alwin
property (see GSP’s news release dated January 30, 2020).
Qualified Person: The scientific and technical disclosure contained in this news release has been
reviewed and approved by Leopold J Lindinger , P. Geo, a consultant of the Company and a
“Qualified Person” as that term is defined in National Instrument 43 -101 – Standards of Disclosure
1 Please see San Marco Resource Inc. News Release Dated September 8, 2008 available on SEDAR (www.sedar.com)
for Mineral Projects. Mr. Lindinger verified the data disclosed which includes a review of the
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.
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, as well as an option to acquire 100% interest and title to 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, future exploration work on the Company’s projects, receipt of assays, additional
drilling on the Alwin property, 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 e xpectations 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 an d 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 ri sks, 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 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 c ontractual
obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information,
except as required by law.