GSP RESOURCE CORP. The results of surface rock grab sampling, which includes a sample from the historic 3 Zone that returned 11% Cu (copper) and 0.65 g/t (grams-per-tonne) Au (gold), and the identification of magnetic low structural lineaments hosting polymetallic mineralization, point the way to enhanced drill targeting for the 2024 exploration season.
The Company also announces that it has acquired additional historical exploration data for the Alwin Mine including over 200 underground geological level plans, cross and longitudinal sections. The updated geological maps have recently been digitized in preparation for addition to 3D mine planning software and will be instrumental in the continued refinement of the Alwin Mine 3D models (geological and mineralization) that are expected to continue to drive new discoveries in 2024.
The 3D modeling work completed by the Company, including digital capture of over 50,000 meters of surface and underground diamond drilling, has already resulted in exploration success the with recent the fall 2023 diamond drill program that yielded some of the highest grades of copper and precious metals drilled at the Alwin Property in the project's history. Significantly, drillhole AM23-01 intersected 2.42% Cu, 47 g/t Ag, and 0.57 g/t Au over 12.8 m (3.14% copper-equivalent, CuEq); including 5.7 m averaging 5.21% Cu, 103 g/t Ag and 1.22 g/t Au (6.77 CuEq) .
GSP's President & CEO,
The recent surface assay results verify and confirm the presence of exceptionally high-grade copper values at surface, reaffirming the potential of the historic mineralized zones targeted during past underground development.
Ground surveys have delivered a modern orientation survey over the known historic mineralized area. The magnetic response successfully delineated subsurface structures that host copper and polymetallic mineralization. Future geophysical and geochemical surveys over a larger area of the Alwin Property are planned to expand on the results to identify additional structures with the potential to host mineralization.'
During the Fall 2023 exploration season, select grab samples were collected from the surface expression of the historic 3 Zone mineralized structure from previously unsampled trenches excavated in 1993 testing the surface expression of the historic 4 Zone..
In addition to grab samples, an orientation ground geophysical program totaling 6.6 line-kilometres was completed to provide a detailed magnetic dataset and assessing potential responses from very-low frequency electromagnetic (VLF-EM) at the Alwin Property.
Linear magnetic lows parallel to mineralized zones were observed. These magnetic anomalies appear to correlate with drill core magnetic susceptibility measurements, which showed fresh and less altered rocks yielded a higher magnetic response than that of structural shears and veins that host mineralization. An expanded program of ground geophysical surveys is being designed to expand the zone of mineralized structures beyond the limits of the Alwin Mine zone.
About
Contact:
Chief Executive Officer & Director
Tel: (604) 619-7469
Email: simon@gspresource.com
Forward-Looking Information
This news release contains 'forward-looking information or statements' within the meaning of applicable securities laws, which may include, without limitation, carrying out 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 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 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 or climate conditions, failure to maintain 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.
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