Business
Shareholder Update: GSP Resource 2022 Review and 2023 Outlook
Vancouver, BC - TheNewswire - January 26, 2023 - GSP Resource Corp. (TSXV:GSPR) (FRA:0YD) (the “Company” or “GSP”) provides shareholders with the following outl
About this update from Gsp Resource Corp.
[{"type":"text","content":"Vancouver, BC - TheNewswire - January 26, 2023 - GSP Resource Corp. (TSXV:GSPR) (FRA:0YD) (the “Company” or “GSP”) provides shareholders with the following outlook for 2023 and review of 2022 activities. GSP’s core asset is an option to acquire a 100% interest in the past producing Alwin Copper Mine located in BC’s Highland Valley Copper Camp. Simon Dyakowski CEO of GSP commented: “2022 was a challenging year for junior base metals exploration companies, with the price of copper declining significantly through mid-year before staging a recovery into year-end. Amid the challenging market backdrop, GSP made the decision to curtail exploration activities at the Alwin mine to best preserve the company’s capital structure. With a recovery in copper prices underway in the fourth quarter of 2022, GSP retained the services of APEX Geosciences to re-model and review data from Alwin mine exploration programs and historic development. This data review is now well underway, and we expect to announce results and recommendations of the study over the first quarter 2023, ahead of the Spring field season.” 2022 Year in Review Highlights: Alwin Mine Project Engaged APEX Geoscience Ltd. (APEX”) of Edmonton, AB, as geological consultants to conduct a review of the Alwin Mine Copper-Silver-Gold Project and recommend the next stage of exploration for the project. The data review is currently underway and is expected to reinterpret both historic drilling mining data, GSP’s 3D modelling of the historic mine workings, and GSP’s 2020-2022 exploration programs on the Alwin project. Reported results of 2021 Fall drilling program with a highlight intersection of 1.6 meters averaging 10.4 gpt Gold, 16 gpt Silver and 1.24% Copper (6.13% CuEq) (see GSP’s news release dated May 18, 2022). Corporate Closed oversubscribed financing in December 2022. Outlook for 2023 Alwin: Completion of APEX data review and recommendations to advance Alwin Project Alwin: Plan a substantial follow up exploration program to support a potential future resource estimate and test additional targets. Continually evaluate new opportunities to add shareholder value through the acquisition of projects in the Americas. About the Alwin Mine Project The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares and is locat...