September 14th, 2021 | 11:27 CEST
GSP Resource - Exciting Micro Cap
Historically and over more extended periods, precious metals such as gold and silver have provided good inflation protection and have thus established themselves as crisis currencies over several economic cycles. Those looking for other promising commodity categories should consider copper. The reddish shimmering industrial metal is experiencing high demand in the course of electromobility. If you also believe in the high return opportunities of small public companies, Canadian GSP Resource combines the facets of precious metals, copper and micro-cap. We keep you up to date with the latest developments, hot off the press.
time to read: 3 minutes
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Author:
Carsten Mainitz
ISIN:
GSP RESOURCE CORP. | CA36249G1090
Table of contents:
"[...] We knew the world was rapidly electrifying and urbanising and needing significant amounts of copper to do so. [...]" Nick Mather, CEO, SolGold PLC
Author
Carsten Mainitz
The native Rhineland-Palatinate has been a passionate market participant for more than 25 years. After studying business administration in Mannheim, he worked as a journalist, in equity sales and many years in equity research.
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GSP RESOURCE CORP - First results of 2021 drill program released
GSP Resource Corp. is an exploration company focused on projects located in southwestern British Columbia, Canada. The Company holds the option to acquire all of the ownership interests in the Alwin Mine copper-gold-silver concession in the Kamloops mining district. In addition, the Canadians own all mining rights to the Olivine Mountain concession area. Very advantageous is the fact that both projects are geographically close to already producing mines. In addition, the management has a good track record and has proven in the past that it has been able to achieve noticeable increases in value for shareholders.
Alwin mine as a value driver
A significant potential return for shareholders lies in the value development of the Alwin project. Here, the first results of the 2021 summer drilling program were recently published. The 575-hectare Alwin property features a historic underground mine developed over a length of 500m to a depth of 300m and a width of 200m. It produced around 233,100 tonnes of material between 1916 and 1981. From this, 3,786 tonnes of copper, 2,729 kilograms of silver and 46.2 kilograms of gold were produced. The Alwin mine is adjacent to the Highland Valley mine of industry giant Teck Resources to the west. The Highland Valley mine is considered the most effective copper mine in Canada at a grade of less than 0.5%.
The Olivine Mountain project also has great potential. The 3,020-hectare property is located just 25km from Copper Mountain's copper mine and just under 50km from Westhaven Ventures' Shovelnose project and Kodiak Copper's MPD project.
Results available from 2 of the 5 drill holes
Five drill holes totaling 1,439 meters were drilled on the Alwin property as part of the current drill program. The objective was to test the potential large tonnage of copper within and surrounding the historic Alwin Mine. Complete results from drill holes AM21-1 and AM 21-3 are now available. Results from holes AM21-2, AM21-4 and AM21-5 are expected within the next four weeks.
Highlights from the first hole include: a bulk tonnage intercept of 0.28% CuEq over 158.5 meters, including 0.48% CuEq over 79.4 meters, 1.60% CuEq over 21.1 meters, 4.66% CuEq over 6.4 meters, and 6.15% CuEq over 4.4 meters. These are good values. On the other hand, results from the second hole, AM 21-3, were disappointing - "the primary target was undercut," a company release said. Longer intercepts showed 0.07 to 0.16% CuEq. Two drill intercepts in the 2m range showed grades of 0.44 to 0.53% CuEq.
"Initial results from GSP's summer drill program continue to support the model of a near-surface bulk tonnage deposit at Alwin. The presence of gold and silver in the drill core, which returned some of the highest precious metals drill results to date in the Highland Valley camp, is very encouraging. The proximity of the Alwin Mine project to Teck Resource's Highland Valley mine and the good elevation and hilltop topography makes it a compelling open pit target. The thick intercepts of bulk tonnage copper encountered in drill hole 1 compare well to the mineral resources reported from the adjacent Highland Valley Mine. GSP is confidently advancing Alwin for its potential as a bulk tonnage deposit," summarized President and CEO Simon Dyakowski of the Company's current situation.
Look ahead
Looking at the big picture, GSP Resources has positioned itself correctly. The Company is exploring for precious metals and copper in one of the best jurisdictions in the world. For various reasons, both commodities are forecast by experts to reach significantly higher price levels in the medium term. Generally speaking, data from new drilling programs can be used to successively determine a project's potential in greater detail. The objective of the current drill program was to more accurately define the potential bulk tonnage of copper within and in the vicinity of the historic Alwin Mine.
Initial results from two of the five drill holes completed show a mixed picture. While the first well, AM21-1, produced good results, the second well, AM 21-3, fell short of expectations. Initially, this put pressure on the share price. The Company is currently valued at only around CAD 4 million. Shareholders should, however, relax and wait for the three missing drill data results. If the data turns out to be similar to the first well, the share price should soon recover significantly. It should not be forgotten that the concession area still hosts a number of incompletely explored targets with porphyry copper and molybdenum mineralization both north and west of the surveyed mining areas.
Conflict of interest
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