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The initial 3D copper mineralization model integrated over 4,000 individual copper assays from more than 450 historic diamond drill holes for which results are available combined with more recent 2008, 2020 – 2021 drilling (see the Company’s news release dated
The updated interpretation incorporates recent diamond drilling, further refines the 3D geometry of the known historic zones and has resulted in the identification of additional mineralized zones not previously modelled (Figure 1).
Highlights of updated 3D copper mineralization vein model:
Updated 3D model constrained by downhole composited assays of copper mineralization vein intervals along structural trends based on the known 5 historic sub-vertical vein zones;
Potentially underground mineable high-grade copper focused 3D model utilizes minimum 1.5 m downhole assay composites and greater than 0.5% copper (Cu) cut-off to isolate high-grade copper zones demonstrating increased continuity;
Three (3) new copper mineralization vein zones identified that warrant follow up drill testing located to the south, northwest and at depth of known historic mineralization zones.
Historical diamond drill intercepts from three new copper zones include:
South zone
Intersected in holes 68-45, 81-26
68-45(drilled from surface):4.4% Cu over 2.0 m1from 45.1 m
81-26(drilled from underground):2.1% Cu over 4.3 mfrom 37.8 m
Possible eastern extension of South zone intersected by recent 2021 drilling2
AM-21-02(surface):3.2% Cu over 1.8 mfrom 52.5 m
Northwest zone
Intersected in holes 67-19, 75-17
67-19(surface):2.8% Cu over 2.0 mfrom 67.1 m
75-17(underground):1.3% Cu over 1.6 mfrom 31.6 m
Deep Zone Two zones intersected historically in holeSS-73-8(surface)
4.3% Cu over 0.9 mfrom 325.8 m
1.4% Cu over 2.1 mfrom 351.4 m
The updated 3D copper mineralization vein model will guide the prioritization of targets in the upcoming diamond drill program planned for Fall 2023. Historic drilling was primarily assayed for copper and had limited assay results for gold, and silver. Recent 2020 – 2021 drilling including 3.4% Cu, 40 grams-per-tonne (g/t) silver (Ag) over 6.4 m within dill hole AM-21-01A, and 10.4 g/t gold (Au), 1.2% Cu over 1.6 m within AM-21-08B highlights the polymetallic potential for zones to include gold and silver mineralization (see the Company’s news release dated
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Figure 1: Alwin Mine 3D Compilation Showing >1.5% Copper Mineralization Vein Model and Potential 2023 Drill Targets (oblique view looking southwest)
Link to Figure 1
GSP’s President & CEO,
About the
The Alwin Property is adjacent with the western boundary of Teck Corporation’s
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,prospective drill program (including the size of the planned drill program) 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 conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to 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.
1 The estimated true width of mineralization in historic drilling approximately 40-50% of the drilled length.
2 See the Company’s News Release dated
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