GSP Targets New High-Grade Gold Discovery Leveraging Existing Copper Resources at Alwin Mine Property
GSP Targets New High-Grade Gold Discovery Leveraging Existing
Copper Resources at Alwin Mine Property
News Release - Vancouver, British Columbia – February 24, 2025: 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 m1. 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 zone3.
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).
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
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
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 Cu4.
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: [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, 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 goal s, 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 u nexpected costs and expenses, and those filed under the Company’s profile on SEDAR + at
4 See GSP Resource Corp. news release dated December 4, 2024
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.