(via TheNewswire)
The Company also announces that it has acquired additional historical exploration data for the Alwin Mine including over 200 underground geological level plans, cross and longitudinal sections. The updated geological maps have recently been digitized in preparation for addition to 3D mine planning software and will be instrumental in the continued refinement of the Alwin Mine 3D models (geological and mineralization) that are expected to continue to drive new discoveries in 2024.
The 3D modeling work completed by the Company, including digital capture of over 50,000 meters of surface and underground diamond drilling, has already resulted in exploration success the with recent the fall 2023 diamond drill program that yielded some of the highest grades of copper and precious metals drilled at the Alwin Property in the project’s history. Significantly, drillholeAM23-01intersected2.42% Cu, 47 g/t Ag, and 0.57 g/t Au over 12.8 m (3.14% copper-equivalent, CuEq); including5.7 m averaging 5.21% Cu, 103 g/t Ag and 1.22 g/t Au (6.77 CuEq)(see
GSP’s President & CEO,
“With the Copper price recently surpassing
The recent surface assay results verify and confirm the presence of exceptionally high-grade copper values at surface, reaffirming the potential of the historic mineralized zones targeted during past underground development.
Ground surveys have delivered a modern orientation survey over the known historic mineralized area. The magnetic response successfully delineated subsurface structures that host copper and polymetallic mineralization. Future geophysical and geochemical surveys over a larger area of the Alwin Property are planned to expand on the results to identify additional structures with the potential to host mineralization.”
During the Fall 2023 exploration season, select grab samples were collected from the surface expression of the historic 3 Zone mineralized structure from previously unsampled trenches excavated in 1993 testing the surface expression of the historic 4 Zone. (Figures 1 and 2; Table 1).
In addition to grab samples, an orientation ground geophysical program totaling 6.6 line-kilometres was completed to provide a detailed magnetic dataset and assessing potential responses from very-low frequency electromagnetic (VLF-EM) at the Alwin Property.
Themagnetic survey (Vertical Derivative of magnetic dataset shown in Figure 1) provided an enhanced understanding of structures within the host Bethsaida granodiorite known to control mineralization at the Alwin Mine. Linear magnetic lows parallel to mineralized zones were observed. These magnetic anomalies appear to correlate with drill core magnetic susceptibility measurements, which showed fresh and less altered rocks yielded a higher magnetic response than that of structural shears and veins that host mineralization. An expanded program of ground geophysical surveys is being designed to expand the zone of mineralized structures beyond the limits of the Alwin Mine zone.
Click Image To View Full Size
Figure 2. Alwin Mine Mineralized
Click Image To View Full Size
Table 1. Alwin 2023 Rock Grab Sample Assay Results
Sample ID | Sample Description | Cu (%) | Au (g/t) | Ag (g/t) |
625451 | Historic 3 Zone, weathered, in-situ; soft clay-sericite-mica altered shear structure | 0.83 | 0.11 | 5 |
625452 | Historic 3 Zone, less weathered vs -01, in-situ; at the wall rock; soft clay-sericite-mica altered shear structure | 0.60 | 0.07 | 7 |
625453 | Historic 3 Zone, weathered, in-situ; from offset sheared vein structure; blue-green copper minerals (azurite and malachite) | 11.2 | 0.65 | 13 |
625454 | Historic 4 Zone trench; soft clay-sericite-mica altered shear | 0.26 | 0.08 | 10 |
About the
The Alwin Property is adjacent with the western boundary of Teck Corporation’s
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Global (“ALS”),
The ground geophysical survey grid comprised 14 lines, spaced 50 metres apart, oriented at 018-198° with lines averaging 450 metres in length.The ground magnetic and VLF-EM geophysical survey were conducted using a GEM GSM-19V Overhauser magnetometer with a VLF attachment, with diurnal correction provided by a second stationary base GEM GSM-19V magnetometer.
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,carrying out 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 withrespect 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 or climate conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain or 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.
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source