GSP Resource Aims at High-Grade Gold Potential

Bob Moriarty
Archives
Dec 23, 2024

The world faces an interesting month ahead in front of the planned inauguration of President Elect Trump. Israel, Ukraine and the insane Neocons running the Oval Office are doing their level best to ignite WW III prior to Trump taking office. There is a more than fair chance the idiots and fools will succeed.

Tax Loss Silly Season this year offered some incredible stocks being sold at the bargain bin. I wrote about GSP Resource in early October when the shares were $.12 apiece giving the company a less than $4 million market cap. Then the shares dropped another 42%.  They are cheap.

GSP Resource’s primary project is the Alwin copper mine located right next to the Highland Valley Copper mine owned and operated by Teck. The Highland Valley mine is creeping westward toward the Alwin property. The copper porphyry in Highland Valley runs directly onto the GSPR ground. Alwin is found deep in South West British Columbia. Alwin produced last in 1981 when owned by Dekalb Mining before closing down due to low copper projects. Production in 1980 and 1981 totaled 155,000 tonnes at a grade of 1.54% Cu. A historic non-43-101 resource done by Dekalb estimated 390,000 tonnes at an average of 2.5% copper.

On December 4th GSPR released a 43-101 open pit and underground resource of 1.46 million tonnes at an average grade of 1.08% Cu. Two batches of drill results should be released in early January based on a seven-hole 2024 drill program. An initial press release talking about multiple intercepts of visually high-grade copper mineralization came out last week. Those grade assays will be out shortly.

GSPR has an option to purchase 100% of Alwin based on cash payments of $200,000 and issuance of about 4.8 million shares subject to a 1.8% Gross Smelter Royalty. GSPR has a $50,000 payment due in early 2025. The company shows just over 10 million warrants at a price of about $.16.

Since the Alwin project is minerally similar to that of the Highland Valley mine the natural exit plan for the company is to be bought out by Teck. At today’s price for the shares, Teck could purchase GSPR for petty cash. The drilling plan at Highland Valley is moving closer and closer to the property line between the two companies. No one is going to come in and spend hundreds of millions of dollars to build a new mine and mill. Teck is pretty much the only alternative. GSPR does have an ace up their sleeve that everyone is missing.

The company talked about it four months ago in August. There is a gold structure that was drilled in 1968 that investors have skipped over showing as high as 61 g/t Au over a third of a meter along with 3.05 meters of 14.4 g/t gold. One of the holes from this year’s program was targeting that gold mineralization. The assays from that drill hole will be in the early January release. A nice high-grade similar intercept could ignite the shares.

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
GSPR-V $.095 (Dec 20, 2024)
GSRCF-OTCQB 35 million shares 
GSP Resource website

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Bob Moriarty
President: 321gold
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321gold Ltd