GSP Resource Corp.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
1610 – 777 Dunsmuir Street Vancouver, BC Canada V7Y 1K4 |
| Tel No.： | 604-619-7469 |
| Web Site： | www.gspresource.com |
| E-mail： | info@gspresource.com |
| Contact Person： | Simon Dyakowski |
| Position： | CEO & Director |
| Traded Market： | TSX-V |
| Traded Symbol： | GSPR |
| Outstanding Shares： | approx. 29.40 million |
| Public Float： | approx. 11,600,000 |
| 52 Week High： | $ 0.27 |
| 52 Week Low： | $ 0.07 |
| Present Price： | Click Here |
GSP Resource Corp. is a mineral exploration company focused on projects in Southwestern British Columbia.
The Company holds an option to acquire 100% of the Alwin Mine Copper-Gold-Silver Project, located in the Kamloops Mining Division, 18 km west of Logan Lake, British Columbia. The Alwin Mine Project includes the past-producing Alwin Copper Mine and is located immediately west of Teck Resources’ (TSX:TECK.B) Highland Valley porphyry copper-molybdenum-silver ore body.
The Company also owns 100% of the Olivine Mountain project located in The Tulameen ultramafic complex (currently optioned to Full Metal Minerals).
Investment Highlights
Past Producing Alwin Copper Mine
- The shallow high-grade potential of the Alwin Mine project is compelling due to the project’s location adjacent to Teck Resource’s Highland Valley Mine operations including its favourable elevation and hill-top topography
- Recently completed a drilling compilation that captured over 50,000m of historic surface & underground drilling
- Recent Drilling Targeting demonstrates the high-grade potential for the Alwin Property and reinforces the polymetallic upside with significant gold and silver values
Recent Drilling Highlights
- GSP’s recently completed drill program in late 2023 returned high-grade intersections including: Hole AM23-01: 12.8m of 2.42% copper, 0.57 g/t gold and 47 g/t silver (3.14% CuEq) including 5.7m of 5.21% Cu, 1.22 g/t Au and 103 g/t Ag (6.77% CuEq)
- Several relatively shallow intersections from the 2020 - 2023 drilling programs at Alwin have return high-grade results including: Hole AM21-01B: 6.4m of 3.50% Cu, 2.4 g/t Au, 39.6 g/t Ag (4.66% CuEq)
Compelling Capital Structure
- Tiny market capitalization of less than CAD$4 million
- Insiders own 30% of outstanding shares
- Tight capital structure provides investors maximum leverage for valuation re-rating
Social & Environmental Responsibility
- Creating jobs for British Columbia based crews
- Adding Value in BC’s Interior
Alwin Mine Project, British Columbia
The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares, located in mining friendly region of Southwestern British Columbia. Production took place between 1916 and 1981 from five major sub-vertical high-grade copper mineralization zones totalling 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 Property is adjacent with the western boundary of Teck Corporation’s 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 property (see news release dated January 30, 2020).
In preparation for potential follow up drilling, has recently completed a 3-dimensional modelling and data review to integrate the recently completed drilling data into the existing Alwin Mine model.
Alwin Mine New Drill Targets
- Potentially underground mineable high-grade copper focused 3D model utilizes minimum 1.5 m downhole assay composites and greater than 0.5% copper (Cu) cutoff to isolate high-grade copper zones demonstrating increased continuity;
- 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. (See news release dated August 24, 2023)
Recent Milestones
- Alwin: Incorporate new drilling data into geological model, and update Alwin mine 3D model
- Highland Valley: Acquired 100% of MER Porphyry Copper Property
- The MER claims host a copper exploration target zone located northwest of the Company's Alwin mine high-grade copper-silver-gold target zone. (See news release dated April 16, 2024)
- Given the presence of drill confirmed porphyry copper-molybdenum mineralization the MER Property is a high priority for follow up exploration.
- Recently Completed Fall 2023 Drilling Program
Upcoming Catalysts
- 2024 Follow up – The historic drill intervals were assayed for copper, with limited testing of gold, silver. Therefore, the full extent of polymetallic mineralization of historic drilling represents a significant exploration upside and requires follow up confirmation drilling of known zones and possible extensions to the west and east of the historic mine area.
- The high-grade mineralization zones remain open at depth and warrant further investigation.
- Modelling of Recent Drill Results + Historic Dataset
- Planned 2024 Drill Program subject to financing, 2023 drill results and market conditions
Management and Directors
Simon Dyakowski, CFA, MBA, President & CEO, Director
Mr. Dyakowski has over 16 years experience in capital markets and corporate development, with an expertise in strategic planning and execution, financing, and marketing of exploration companies. Mr. Dyakowski most recently acted as an adviser to TSX Venture Exchange listed mineral exploration companies on their corporate development strategies.
Christopher Dyakowski, BSc, P.Geo., Chairman, Director
Mr. Dyakowski has 40 years of mineral exploration experience. His background includes Board of Director and executive-level positions with numerous publicly traded junior mining companies.
Kenneth C. Phillippe, CA, CFO
Mr. Phillippe is a Chartered Professional Accountant and has over 35 years of public company experience.
Rodney Stevens, CFA, Director
Mr. Stevens has over a decade of experience in the capital markets, first as an investment analyst covering the silver mining and exploration sector with Salman Partners Inc. and subsequently as a merchant and investment banker.
Jordan P. Trimble, BSc, CFA, Director
Mr. Trimble is the President and Chief Executive Officer of Skyharbour Resources, and he serves as a director of the CFA Society Vancouver. He has an extensive network of institutional and retail investors as well as resource industry professionals.
Justin G. Kates, J.D., Director
Mr. Kates is a Lawyer and partner of DuMoulin Black LLP, practicing primarily in the areas of securities, corporate finance, mergers and acquisitions, and corporate and commercial law.
A. David V. Heyl, BSc, P.G., Senior Technical Advisor
Mr. Heyl has more than 40 years of experience in the mining industry. He is currently vice-president of exploration for Aztec Minerals Corp.
APEX Geoscience Ltd., Geological Consultant
Overseen by Kristopher Raffle, P.Geo., Principal and Consultant of APEX
On November 04, 2024, GSP Resources Corp, completed $2.1 million share private placement.
Financing type: non-brokered private placement
Gross proceeds: $294,000
Offering: 2.1 million flow-through shares with 1.05 million warrants attached
Offering price: 14 cents per flow-through share
Warrant exercise terms: 21 cents per listed share for a two-year period
Non-cash commissions: 96,000 finders' warrants
On November 01, 2024, Further to its Oct. 24, 2024, news release, GSP Resource Corp. has closed its oversubscribed non-brokered private placement of 2.1 million units at a price of 14 cents per unit for aggregate gross proceeds of $294,000. Each unit consists of one common share to be issued as a flow-through share, within the meaning of the Income Tax Act (Canada) (ITA), and one-half transferable common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of the company at a price of 21 cents until Nov. 1, 2026.
The company intends to use the proceeds from the sale of the FT shares toward exploration work on the Alwin copper-silver-gold project and intends that such expenses incurred will be eligible for the Critical Mineral Exploration Tax Credit (CMETC). Proceeds from the sale of FT shares will be used to incur Canadian exploration expenses, as defined in Subsection 66.1(6) of the ITA, and flow-through mining expenditures, as defined in Subsection 127(9) of the ITA, and will be targeted for critical minerals for eligibility under the CMETC. Such proceeds will be renounced to the subscribers with an effective date not later than Dec. 31, 2024, in the aggregate amount not less than the total amount of gross proceeds raised from the issue of FT shares.
On October 31, 2024, GSP Resource Corp. has commenced diamond drilling at the Alwin mine copper-silver-gold project. The drill program currently under way is expected to consist of six to eight diamond drill holes and is designed to expand the shallow, open-pit mineralization potential of the recently completed exploration target block modelling exercise.
The recently completed exploration targeting modelling and conceptual open-pit and stope optimization exercise (see GSP Resource's news releases dated Oct. 2, 2024, and Oct. 15, 2024) resulted in new high-priority drill targets proximal to the conceptual open-pit shell. The targets have the potential to expand existing zones of (previously) poorly delineated, high-grade copper mineralization.
The drill program is advancing the Alwin mine project utilizing the results of GSP's recently developed exploration model. The company has been able to prioritize expansion targets relative to their potential to be accretive to the modelled mineralization as constrained by the conceptual open-pit shell. It is important to note that historic mining at Alwin focused on high-grade copper shear zones having width and grade characteristics sufficient to support relatively higher-cost underground mining. The development of the conceptual open-pit shell has now provided for the identification of a broader range of near-mine mineralization targets that had not been fully evaluated, historically.
High-priority drill targets include more than 10 near-surface exploration targets along strike and within the hangingwall and footwall of the Alwin copper-silver-gold shear system.
On October 25, 2024, GSP Resource Corp. has arranged a non-brokered private placement of up to two million units at a price of 14 cents per unit for gross proceeds of up to $280,000. Each unit consists of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of the company at a price of 21 cents per share for a period of two years following the closing date of the private placement.
The company intends to use the proceeds from the sale of the FT shares toward exploration work on the Alwin mine copper-silver-gold project and intends that such expenses incurred will be eligible for the critical mineral exploration tax credit.
On October 15, 2024, GSP Resource Corp.'s recently completed exploration target block modelling exercise has yielded additional high-priority drill targets at the Alwin mine copper-silver-gold project.
The recently completed exploration targeting modelling and conceptual open-pit and stope optimization exercise has resulted in new high-priority drill targets proximal to the conceptual open-pit shell. The targets have the potential to expand existing zones of previously poorly delineated high-grade copper mineralization.
The new drill targets are the first advancement of the Alwin mine project with the results of GSP's recently developed exploration model now in hand. The company is now able to prioritize expansion targets relative to their potential to be accretive to the modelled mineralization as constrained by the conceptual open-pit shell. It is important to note that historic mining at Alwin focused on high-grade copper shear zones having width and grade characteristics sufficient to support relatively higher cost underground mining. The development of the conceptual open-pit shell has now provided for the identification of a broader range of near-mine mineralization targets that had not been fully evaluated, historically.
The targeting exercise, which is still ongoing, has to date yielded over a dozen near surface exploration targets along strike and within the hangingwall and footwall of the Alwin copper-silver-gold shear system.
On October 02, 2024, GSP Resource Corp. reported that the exploration target block modelling has indicated open-pit potential at Alwin mine copper-silver-gold project.
The recently completed exploration targeting modelling and conceptual open-pit and stope optimization indicates that the Alwin mine copper mineralization is potentially amenable to an open-pit model. Modelling has yielded a conceptual open pit that extends to a depth of 180 metres (600 feet) with potentially minable stope shapes continuing at depth a further 90 metres vertically and over a strike extent of approximately 300 metres (1,000 feet by 300 feet).
The exploration target open-pit and stope modelling considers copper mineralization only and the company looks forward to further evaluation, through additional drilling, of potentially significant gold values which have recently come to light (see GSP Resource's news release dated Aug. 19, 2024).
The recently completed modelling is based on the company's expansive historical and modern diamond drill hole database comprising over 45,000 metres of drilling in 581 holes drilled from surface and underground. The database contains a total of 3,164 sampled intervals representing 8,181 metres of sampled drill core. The modelled mineralized intervals are intersected by 372 drill holes containing a total of 1,434 sampled intervals representing 1,972 metres of drill core.
On September 23, 2024, GSP Resource Corp., further to news release on Sept. 11, 2024, has closed an oversubscribed non-brokered private placement of 6.5 million units at a price of 10 cents per unit for aggregate gross proceeds of $650,000. Each unit is composed of one common share and one-half of one transferable common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 15 cents per share at any time on or before Sept. 23, 2026.
The company intends to use the net proceeds of the private placement toward exploration and development work on the Alwin mine copper-silver-gold project and for general working capital purposes.
On September 11, 2024, GSP Resource Corp. intends to complete a non-brokered private placement of up to five million units at a price of 10 cents per unit for gross proceeds of up to $500,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of 15 cents per share for a period of two years following the date of issuance.
The company intends to use the net proceeds of the private placement toward exploration and development work on the Alwin mine copper-silver-gold project and for general working capital purposes.
On August 19, 2024, GSP Resource Corp. has provided an update related to continuing advancement of the Alwin mine copper-silver-gold project. Recently compiled historic and modern diamond drilling has highlighted the presence of high-grade gold mineralization at the Alwin property, which is not yet well understood, in addition to the well-established laterally and vertically extensive high-grade copper zones. New modelling has for the first time enabled 3-D (three-dimensional) visualization of the Alwin mine project shear vein system, enhancing the company's ability to target expansion and discovery of new zones of high-grade copper mineralization.
Drill database validation highlights significant gold values
Digital capture of historical surface and underground diamond drilling highlights the polymetallic nature of Alwin mine mineralization. While all prior drilling was assayed for copper, a small subset of core samples were also assayed for gold, silver and molybdenum.
Significantly, 1968 diamond drilling at Alwin yielded multiple high-grade gold intercepts including assays of 61 grams per tonne (g/t) gold (Au) and a total of five individual assays greater that 20 g/t Au within surface drill hole 68-67 over a 29.5-metre downhole interval. These assays yield composite grades of 3.05 metres averaging 14.4 g/t Au, including 1.52 metres grading 26.1 g/t Au; and 2.77 metres grading 8.6 g/t Au.
May 22, 2024, GSP Resource Advances Geological Modelling of Alwin Mine Copper-Silver-Gold Project in Preparation for 2024 Expansion Drilling.
April 16, 2024, GSP Resource Enters into Agreement to Acquire an Additional 185 Hectares of Claims Adjacent to the Highland Valley Copper Mine.
GSP Resource has entered into an arm's-length acquisition agreement with Dylan Adam to acquire a 100-per-cent interest in the MER claims in the Highland Valley copper camp of British Columbia. The two MER claims comprise 185 hectares in the Kamloops mining division. The claims are situated approximately 1.5 kilometres northwest of GSP's Alwin mine project and are surrounded by Teck Resource's Highland Valley copper claim group directly west and south of the Highland Valley copper mine's active operations.