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GSP Resource Corp. Announces Drill Permitting Underway at Olivine Mountain
VANCOUVER, British Columbia, May 29, 2019 (GLOBE NEWSWIRE) -- GSP Resource Corp. (TSX-V: GSPR) (the “Company” or “GSP”) is pleased to announce that drill permit
About this update from Gsp Resource Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, May 29, 2019 (GLOBE NEWSWIRE) -- GSP Resource Corp. (TSX-V: GSPR) (the “Company” or “GSP”) is pleased to announce that drill permitting is currently underway on the Company’s Olivine Mountain project. The Olivine Mountain project is located 25 kilometers northwest of Princeton, B.C. and consists of claims over 3022 Hectares underlain by rocks of the Alaskan-type Tulameen Mafic/Ultramafic Complex. Upon receipt of the drill permits, summer drilling is expected to test several targets resulting from coincident interpreted geophysical anomalies identified in GSP’s 2018 airborne survey program and from the subsequent geochemical ground survey program. Of note, four drill target zones are considered of interest for the presence of related massive sulphide deposits. The project is targeting mafic and ultramafic rocks emplaced into metasedimentary and intermediate metavolcanics rocks belonging to the Upper Triassic Nicola Group during a late Triassic deformational event. This volcanic assemblage evolved during the Late Triassic arc magmatism and these rocks are considered to be co-magmatic with the rocks of the Tulameen mafic-ultramafic suite. The Olivine Mountain project has several high-grade massive sulphide showings including the Hop Showing where a selected sample of a high-grade chalcopyrite stringer assayed 23.0 grams per tonne gold, 89.5 grams per tonne silver and 7.49% copper. A chip sample from the ASP 14 Showing returned a sample grade of 4.74% copper over a width of 2 meters. Qualified Person: The scientific and technical disclosure contained in this news release has been reviewed and approved by John R. Kerr, P.Eng, a “Qualified Person” as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral. About GSP Resource Corp.: GSP Resource Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The Company has an option to acquire a 100% interest and title to the Olivine Mountain Property located in the Similkameen Mining Division, 25 km northwest of Princeton, British Columbia. Contact Information - For more information, please contact: Simon Dyakowski, Chief Executive Officer & DirectorTel: (604) 619-7469 Email: [email protected] Cautionary ...