Initial Drill Results From Alwin Mine Project

VANCOUVER - GSP Resource Corp. reported initial diamond drill core results from the first stage shallow infill and confirmation drilling of the 2020 Alwin Mine project drill program located in the Highland Valley Copper Camp of British Columbia. High grade copper was intersected in all the 6 shallow drill holes reported to-date, highlighted by hole AM20-01 which returned 2.27% Copper over 12.1 meters starting at 5.4 meters, and including 3.22% Copper over 4.15 meters. Shallow bulk tonnage potential is highlighted in hole AM20-02 with 39.8 meters of 0.40% copper starting from 6.40 meters and including 7.30 meters of 1.39% copper.

Holes 1 to 8 of the Phase 1 2020 Alwin drilling program were shallow, less than 60 meter deep, and designed to intersect the unmined, less than 30 meter deep portions of the historic Alwin Mine # 4 Zone. The upper# 4 Zone lies at the near surface east end of the historic Alwin mine. The area tested covers a 225 meter strike of the Alwin structure. The initial results indicate the continued shallow bulk tonnage potential of the Alwin project with assay results from deeper exploration drill targets pending and expected to be received in early 2021.

President and CEO Simon Dyakowski, said, “Initial results from Phase 1 drilling have confirmed the presence of shallow, high-grade copper as well as the potential for larger, shallow, bulk tonnage mineralization at Alwin. The shallow bulk tonnage potential of the Alwin Mine project is especially compelling due to the project’s location adjacent to Teck Resource’s Highland Valley Copper Mine operations.”

The program was designed to infill between the surface, in between and under historic drill intersections. Several higher grader intersections had poor recoveries and the reported grades can only be considered approximate. Significant geological knowledge was gained regarding copper mineral zonation, timing, and similarities with relation to the Valley-Lornex hydrothermal system. The Alwin Mine Copper-Silver-Gold property is approximately 575.72 hectares and is located on the semi-arid, interior plateau in south-central British Columbia. The underground historic mine, which was developed over 500 meters long by 300 meters deep by 150 meters wide area produced from 1916 to 1981 from six major subvertical zones. Gold and silver content associated with bornite increase with depth within the individual mineralized zones.

The core was picked up by GSP contractors from the drill and delivered to the on site core processing facility or a secure facility in nearby Logan Lake. During the sample identification process the consultant placed two portions of a triplicate pre-numbered sample tag into the core box at the end of the appropriate sample. Two portions (one retained in the sample book) of the triplicate tag had the project name, drill hole #, from and to distance in metres, date of sample, initial of the logger on 2 of the portions. The third portion has only the client name and sample number on it. All core processing procedures described below were completed by independent to GSP consultants and technicians. All drill core samples were sawn in half or quartered with a rock saw, or ½ or ¼ split with a manual core splitter. A ½ or two ¼ portions of the sample were placed into a prelabelled bags and sealed along with the sample and client only prelabelled sample tag portion. The remaining ½ pieces were placed back into the core box into its proper location and orientation. The other tag portion with the, client name, from-to, core logger and sampler initials was stapled to the bottom end of the appropriate sample. The final third (book portion) with all the information is temporarily retained by the project consultant for future reference. The samples in the box were separated from each other by staples or screws. The ¼ samples had significantly different tag labels from the original label. The remaining drill core is subsequently securely stored on site, or in Logan Lake B.C. For chain of custody requirements all sealed sample bags were placed into sealed sacks or boxes and delivered to bonded couriers for delivery to the chosen analytical facilities. The consultant inserted quality control samples at irregular intervals in the sample stream, including blanks, reference materials to monitor laboratory performance. The ¼ cut duplicates were made by ½ cutting the to be sampled ½ of the original sample to determine mineralization homogeneity and to monitor laboratory performance. All core was imaged and density measurements made of most well mineralized and adjacent intersections.