GSP Resource Corp. Identifies Promising Open Pit Potential at Alwin Mine Copper Project

GSP Resource Corp. has announced that recent exploration target block modelling has revealed promising open pit potential at its Alwin Mine Copper-Silver-Gold Project in British Columbia. This development could significantly impact the project's viability and future operations. The exploration targeting modelling and conceptual open pit and stope optimization suggest that the Alwin Mine copper mineralization may be suitable for an open pit model. The conceptual pit extends to a depth of 180 meters with potentially mineable stope shapes continuing an additional 90 meters vertically over a strike extent of approximately 300 meters.

This modelling is based on an extensive database comprising over 45,000 meters of drilling from 581 holes, both from surface and underground. The database contains 3,164 sampled intervals representing 8,181 meters of sampled drill core, with the modelled mineralized intervals intersected by 372 drill holes. Notably, the current exploration target modelling focuses solely on copper mineralization. The company anticipates further evaluation of potentially economically significant gold values through additional drilling, following recent findings highlighted in their August 19, 2024 news release available at https://gspresource.com/news/2024/august-19-update.

APEX Geoscience Ltd., the resource modelling team working on the project, has made significant progress in resource estimation. They have completed block modelling, historic mine development depletion models, and conceptual exploration target open pit and stope optimizations. The team is currently finalizing kriging parameters and performing volume variance checks in preparation for resource reporting. The Alwin Mine Project spans approximately 575.72 hectares and is located in south-central British Columbia. The property's strategic location adjacent to Teck Corporation's Highland Valley Mine, the largest open-pit porphyry copper-molybdenum mine in western Canada, adds to its potential value.

Historical production at the Alwin Mine between 1916 and 1981 yielded 3,786 tonnes of copper, 2,729 kilograms of silver, and 46.2 kilograms of gold from 233,100 tonnes of ore, with an average diluted head grade of 1.5% copper. The implications of this open pit potential are significant for GSP Resource Corp. and the mining industry in the region. Open pit mining typically allows for larger-scale operations and can be more cost-effective than underground mining methods. If further studies confirm the viability of an open pit operation at the Alwin Mine, it could lead to increased resource extraction, potentially extending the life of the mine and boosting the project's economic value.

Moreover, the proximity to the Highland Valley Mine suggests the possibility of shared infrastructure or operational synergies, which could further enhance the project's attractiveness to investors and potential partners. As the company progresses with its resource estimation and further exploration, the mining community will be watching closely. The development of a new open pit copper mine in British Columbia could have broader implications for the local economy, job creation, and the global copper supply, especially given the increasing demand for copper in renewable energy technologies and electric vehicles. Investors and industry observers should note that while these results are promising, further studies and evaluations will be necessary to confirm the economic viability of an open pit operation at the Alwin Mine.