GSP Resource Jumps 47% After Hitting 2.42% Copper Over 12.8 Metres

GSP Resource Corp (TSXV: GSPR) is currently up 47% this morning following the release of drill results from a recently completed drill program at its Alwin Mine project in British Columbia.

Results come from a drill program that was completed in November, which consisted of five diamond drill holes that amounted to an aggregate of 640 metres drilled. The program saw drilling conducted from three separate drill locations along a 100 metre strike length, targeting 4 Zone at the historic Alwin Mine.

Results from the program include:

  • AM-23-01: 12.8 metres of 2.42% copper, 47 g/t silver, 0.57 g/t gold from 138 metres depth
    • Including 5.7 metres of 5.21% copper, 103.1 g/t silver, 1.22 g/t gold
  • AM-23-02: 3.5 metres of 2.40% copper, 9.7 g/t silver, 0.18 g/t gold from 135.1 metres depth
  • AM-23-03: 5.7 metres of 3.77% copper, 16.5 g/t silver, 0.05 g/t gold from 160.4 metres depth
  • AM-23-04: 0.8 metres of 0.84% copper, 4.5 g/t silver, 0.02 g/t gold from 33.0 metres depth
  • AM-23-05: 10.6 metres of 1.15% copper, 4.0 g/t silver, 0.04 g/t gold from 28.0 metres depth
    • Including 3.2 metres of 3.50% copper, 10.3 g/t silver, 0.07 g/t gold

“Our team is excited to announce the assay results of the recently completed 2023 drill program. The primary objective of the 2023 drill program was achieved by successfully testing the Alwin 3D copper mineralization vein model. The 3D model was developed for the high-grade past producing Alwin Copper-Silver-Gold Mine using historic underground and surface drilling assay results. The focus of the 2023 drill program was to evaluate the upper and lower extents of the unmined historic 4 Zone and identify possible parallel or zone extensions,” commented Simon Dyakowski, CEO of GSP.

The program, while small in size, is said to have confirmed multiple parallel intervals of sulphide mineralization that are adjacent to 4 Zone. Further infill and exploration drilling is required at the project, while drill testing of previously identified new copper mineralization zones to the northwest, south, and at depth is currently planned for 2024.

The Alwin Mine, found adjacent to the Highland Valley Mine operated by Teck Corp, saw production occur from 1916 through to 1981 from five subvertical copper mineralization zones. The mine reportedly boasted an average diluted head grade of 1.5%, while pulling 3,786 tonnes of copper, 2,729 kg of silver, and 46.2 kg of gold out of the ground.

GSP Resources last traded at $0.14 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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