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GSP Resource Shows High-Grade Gold Potential with Nice CopperBob Moriarty As predicted in a piece I wrote about GSP Resource (GSPR-V) in December, the company just announced hitting a high grade gold interval in their drill campaign at their Alwin copper project next to Teck’s Highland Valley copper mine. Results came in at 5.04 grams gold over a large 7.90-meter intercept and also included a 1.01% copper assay over the same length. Within the intercept they reported 22.93 g/t Au with 1.82% copper over 1.64 meters. As the Tax Loss Silly Season ended in December, GSPR showed a dismal $.095 share price giving the company a market cap of just $3 million. For those smart enough to invest while it made a lot of cents, the stock shot up 50% in the next three weeks. On Monday of this week GSPR announced assays of 2.41% Cu with 35 g/t Ag and 0.68 g/t Au over 17.4 meters. Both gold and silver have gone higher in value over the past couple of weeks. GSPR hopes to dangle a carrot in front of Teck in the belief that if they can show sufficient ore grade material with the additional gold values Teck will unfasten the lock on their petty cash check book and buy Alwin while it is still absurdly cheap. Financial reports show that GSPR has about ten million warrants priced at an average of $.16. Should the rise in the price of gold/silver finally attract the attention of resource punters, the cash infusion from those warrants would prevent further dilution and fund another year’s drilling program. The gold numbers might turn out to be an ace in the hole for GSPR. Of the 10,000 or so historic assays, only around 30 were assayed for gold. Should gold be the icing on the cake it could easily spur Teck into taking action or at some point attract another company willing to take on a copper/gold prospect with a known 43-101 copper gold resource in a mining district. In my investment books I stress buying cheap and selling dear. GSPR is absurdly cheap and it is not going to stay cheap forever. I have added to my position during Tax Loss Silly Season and I’m happy. GSP Resource is an advertiser. I own shares and have participated in private placements in the past. I am biased so do your own due diligence. GSP Resource Corp ### Bob Moriarty 321gold Ltd |
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