GSP Resource Corp. is pleased to announce that it has completed its geochemical sample program on the Olivine Mountain Property. Work completed in the fall of 2018 consisted of ground surveys to establish suitable drill targets over a 12 square kilometer area covering the diorite, gabbro and ultramafic phases of the Tulameen batholiths, which host three mineral showings and interpreted geophysical anomalies.
The initial phase of work consisted of a geochemical sampling program of approximately 1,760 samples completed over the entire grid area. Geochemical samples were collected at 50 meter intervals along all lines. The samples are currently being analyzed at MS Analytical located in Langley, BC, with batches of results expected to be completed over the first quarter of 2019. Samples are being analyzed for 36 element ICP, including gold and platinum and palladium. Data from the program will be interpreted alongside Aeromagnetic survey information and previous sampling to determine the viability of massive sulphides drill targets at the project. The Company is also reviewing opportunities to acquire or joint venture other precious and base metals projects in politically favorable mineral exploration jurisdictions in North America.
GSP Resource Corp.’s President and CEO, Simon Dyakowski, commented:
We are pleased that crews were able to expedite the geochemical sampling program ahead of the Winter season. The geochemical grid is expected to provide valuable information to potentially spot drill holes targeting massive sulphides when combined with data from the previously completed Aeromagnetic and surface sampling programs. The Olivine Mountain Project has several high grade showings including the Hop Showing where a selected sample of a high-grade chalcopyrite stringer assayed 23.0 grams per tonne gold, 89.5 grams per tonne silver and 7.49% copper. The ASP 14 showing returned a sample grade of 4.74% copper. The Company is pleased to continue to advance the Olivine Mountain Project with the goal of determining potential drill targets, as well as to continually assess opportunities to acquire or partner on additional mineral exploration projects across North America.