(via TheNewswire)
News Release -
Drillhole AM23-01 intersected 2.42% Cu, 47.0 gpt Ag, and 0.57 gpt Au over 12.8m including a 5.7m interval averaging 5.21% Cu, 103.1 gpt Ag and 1.22 gpt Au.
The result of this drilling demonstrates the high-grade potential for the Alwin project and reinforces the polymetallic upside with significant gold and silver values. GSP’s data compilation exercise completed in 2023 suggests that many of the historic drillholes in the pre-2008 exploration of the property did not include assays for gold and silver.
The drill program, completed in
Figure 1.
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GSP’s President & CEO,
“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
The 2023 drill program has provided confirmation of multiple parallel intervals of sulphide mineralization adjacent to the historic 4 Zone. These results provide us with an exciting exploration upside potential at the Alwin project which requires further infill and exploration drilling. In addition to the zones identified through the 2023 drilling, potential new copper mineralization zones previously identified from compiled historic drill holes to the northwest, south and at depth of the historic mine area remain untested and we intend to target these with additional drilling in 2024.”
All five 2023 drill holes intersected sulphide mineralization, with multiple intervals encountered in drill holes AM-23-01, -02 and -03 targeting the historic 4 Zone at depth. Drill holes AM-23-04 and -05 targeted the historic 4 Zone near surface (Table 1, Figures 2 and 3).
Mineralization appears structurally controlled comprising chalcopyrite, minor bornite and pyrite, and associated varying intensity of sericitic, potassic, and chloritic alteration.
Table 1. Alwin 2023 Diamond Drilling Significant Assay Results
DDH | From (m) | To (m) | Drilled Interval* (m) | Cu % | Ag g/t | Au g/t | CuEQ** % |
AM-23-01 | 138.0 | 150.8 | 12.8 | 2.42 | 47.0 | 0.57 | 2.64 |
including | 141.6 | 147.3 | 5.7 | 5.21 | 103.1 | 1.22 | 5.69 |
including | 141.9 | 143.8 | 1.9 | 7.84 | 198.3 | 2.75 | 8.85 |
and | 153.4 | 154.6 | 1.1 | 3.48 | 13.0 | 0.04 | 3.52 |
AM-23-02 | 118.2 | 118.8 | 0.6 | 8.01 | 30.0 | 0.05 | 8.09 |
and | 134.6 | 140.7 | 6.1 | 0.88 | 3.9 | 0.06 | 0.90 |
including | 135.1 | 138.6 | 3.5 | 2.40 | 9.7 | 0.18 | 2.46 |
AM-23-03 | 108.6 | 109.4 | 0.8 | 1.06 | 7.7 | 0.03 | 1.08 |
and | 160.4 | 166.1 | 5.7 | 3.77 | 16.5 | 0.05 | 3.82 |
and | 166.9 | 167.3 | 0.4 | 3.85 | 11.0 | 0.06 | 3.89 |
AM-23-04 | 33.0 | 33.8 | 0.8 | 0.84 | 4.5 | 0.02 | 0.85 |
AM-23-05 | 28.0 | 38.6 | 10.6 | 1.15 | 4.0 | 0.04 | 1.17 |
including | 33.8 | 37.0 | 3.2 | 3.50 | 10.3 | 0.07 | 3.54 |
*True width estimate is 60% of Drilled Interval presented here.
**CuEQ % = [Cu (%) x 1] + [Ag (g/t) x 0.002465] + [Au (g/t) x 0.1888]
(using
Figure 2. Drill Section showing AM-23-01, and -02
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Figure 3. Drill Section showing AM-23-03, -04 and -05
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About the
The Alwin Property is adjacent with the western boundary of Teck Corporation’s
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Global (“ALS”),
Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by
About
Contact Information -For more information, please contact:
Tel:(604) 619-7469
Email:simon@gspresource.com
Neither the
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation,potential further drilling at the Alwin Property and potential drill targets, future exploration work on the Company’s projects, 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 therisks 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, andthose filed under the Company’s profile on SEDAR+ at 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 and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain 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.TheCompany does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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