Company description

GSP Resource Corp. (GSPR.V) is a mineral exploration company focused on projects in Southwestern British Columbia. The company is earning into the Alwin Mine Copper-Gold-Silver Project, located close to Kamloops, a past producing copper mine and located within 3 kilometers of Teck Resources’ Highland Valley Copper open pit mine. GSP also fully owns the Olivine Mountain project in the Tulameen ultramafic complex, which is optioned out to Full Metal Minerals.

GSP Resource Corp. is led by President & CEO Simon Dyakowski (CFA, MBA), who has extensive experience in corporate development, capital markets, equity research and equity sales. He previously worked at the Bank of Tokyo-Mitsubishi UFJ and Royal Bank of Canada dealing with investment-grade and mid-market Canadian corporate clients. Mr. Dyakowski has also worked in the equity research and equity sales departments at Salman Partners and Leede Financial. Mr. Dyakowski is assisted by Chairman Chris Dyakowski (BSc, P.Geo), his father, who has over 35 years of mineral exploration experience. His background includes Board of Director and executive-level positions with numerous publicly traded junior mining companies. In these roles, Mr. Chris Dyakowski has secured venture capital from individual sources and public financings; reviewed and supervised exploration programs; worked with regulators, government departments, legal and financial teams, the media and investors; and, located and secured mining properties in Canada, the United States, Argentina and Bolivia.

They are both working closely together with Senior Technical Advisor Greg Dawson (MSc, P.Geo), who has has over 30 years of experience in the mineral exploration industry and is currently working as an independent consultant and sits on the board of Sitka Gold Corp. His work experience includes acting as Vice President Exploration for Colorado Resources, President and Vice President, Exploration of Copper Ridge Explorations and serving as District Manager and General Manager with Teck Exploration Ltd. in Central Asia and South America. He also spent several years earlier in his career working for the Hunter Dickinson Group and its associated companies. Mr. Dawson has over 30 years of experience in the mineral exploration industry and is currently working as an independent consultant and sits on the board of Sitka Gold Corp. His work experience includes acting as Vice President Exploration for Colorado Resources, President and Vice President, Exploration of Copper Ridge Explorations and serving as District Manager and General Manager with Teck Exploration Ltd. in Central Asia and South America. He also spent several years earlier in his career working for the Hunter Dickinson Group and its associated companies.

GSP Resource’s flagship Alwin Mine Project is a 575ha brownfield project adjacent to a large active open pit mining operation, the Highland Valley Copper Mine (owned by Teck Resources). The Alwin Mine itself is a small, past-producing copper mine (total production 155kt @ 1.54% Cu until 1981) with lots of underground development, and most importantly, considerable unmined mineral zones, left behind because of low metal prices, and exploration potential for more. A historical resource reported 390kt @ 2.5% Cu. The goal for GSP is to generate a bulk tonnage open pittable and/or block cave resource. A 2020 drill program returned results like 20m @ 3.0% Cu, 6.4m @ 4.66% CuEq, 14.1m @ 1.29% CuEq, 3.95m @ 3% CuEq, 22.6m @ 0.81% CuEq, 47.35m @ 0.31% CuEq and 61.7m @ 0.313% CuEq. Significant exploration upside potential with high-grade copper-silver-gold zones remaining open along strike of the Alwin Mine workings, with multiple zones open at depth. Highlights:

• Multiple new untested high priority drill ready targets occur within the Alwin Mine defined by the mineralization model
• Potential for previously unrecognized moderate west, and shallow east plunging continuity of high-grade copper zones
• High grade copper zones defined by drilling and underground mining remain open along corridors at mid-depths, and down plunge to the west and to the east, beyond the extent of the historic underground workings

GSP Resource just raised C$360k @ 12c to start up exploration and hopefully generate the first actionable news through a small drill program, commencing this summer. At a current, very tiny market cap of just C$3.05M and a very tight share structure of just 22.59M shares outstanding, management is careful not to dilute existing shareholders too much. The plan is to raise enough money to show the world the potential of the Alwin Mine project. If drilling indicates sufficient resource potential, and market sentiment cooperates, the idea is to raise more and provide continuous news flow. With copper shortages coming, and a copper price hovering close to US$4.00, combined with the gold price projected to rise over US$2,000/oz when the Fed would pivot to a more dovish stance, pausing rate hikes or even cutting rates in H2, 2023, GSP Resource seems to have timed its exploration plans well, and could be in for a significant re-rating.

Share price GSP Resource: