Categories: Precious Metals / Mining Stocks
Topics: Gold Stocks / Copper Stocks

GSP Resource Corp. (TSX-V: GSPR)(OTC: GSRCF) CEO Simon Dyakowski on 4.46% CuEq Drill Results at Alwin

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of GSP Resource (TSX-V: GSPR)(OTC: GSRCF), Mr. Simon Dyakowski. Simon, great to have you back on. You're reporting the first four diamond drill holes from the 2026 drill campaign. Off to a great, great start. 4.46% copper equivalent over 3.02 meters. That included obviously 3% copper, 1.11 grams per tonne gold, and 61 grams per tonne silver. Good work. I know you wanted to come on and provide some context. We have assays still pending. How are you feeling about the results?

Simon Dyakowski: Yeah. Hey, thanks for having me on. We're pleased with the results. We're hitting high grade polymetallic mineralization outside of the existing pit shell that we have delineated. A couple of key things that I wanted to provide context on today are that the existing open pit resource is modeled only off of copper, and it excludes this area of gold and silver and high grade copper discovery that we've been working on the past couple of seasons. And so obviously, if you look at the cross section, you'll see that there's a new gold zone that's expanding and it's outside of the pit shell, which means that there's good growth opportunity for the open pit concept for the high grade Alwin polymetallic system, cognizant that we haven't included any gold and silver in the resource model yet. So that's one thing. And then another thing I wanted to just clarify or maybe point out to the listeners is that you might wonder why are we drilling in this sort of localized area on the western flank of the deposit?

And that's really because of our 2021 era drill permit. So we've been working off of what's called a five-year MYAB or multi-year area based permit, which was awarded to us in 2021 off of our initial proof of concept, which was limited at that point to only being able to drill on existing trail in quite a constrained area. So we've been able to drill this expansion, but really hemmed in by that road that's on the western flank, if you look at the plan map. And so this has been something we've just had to contend with. Permitting in BC has been very slow over the last few years, unfortunately. And now we have applied for a new permit. And when I say we have applied, I should say that we applied for it in February and we're almost at the final stages of getting it in place.

But for those that have been following me, the situation in Canada here on the West Coast, we have a new government coming in, which campaigned heavily on resource extraction and they're very aware of the permitting timelines for exploration, which is critical to us. A lot of politicians these days are very aware of the need for critical metals and getting mines into production, but sometimes they don't fully understand the whole picture of making the discoveries, which is the business that we're in. And so we're hopeful and I'm quite confident that the new group coming in on November 18th will be a lot faster for permitting. So when we go to drill next time, we will be able to drill hopefully off of our new permit, which encompasses the entire property and then give us the ability to build drill pads wherever we want. And we're not going to be constrained to this rectangle that we had traced out on the map in 2021.

Gerardo Del Real: Good stuff. Listen, you're waiting for, I believe it's four additional holes. Is that correct?

Simon Dyakowski: Yeah. We're waiting for four holes that were drilled later in the program. So don't have them yet, but I would expect over the next few weeks we'll have them ready. Those are from the Mer, which is about a kilometer and a half, two kilometers away from the main Alwin project. And that's more of a porphyry copper disseminated style of mineralization. This is the first drilling that that target has seen in 50 years.

Gerardo Del Real: Wow.

Simon Dyakowski: And what we were really looking to confirm with the drilling there is, was it a high grade structure that was perhaps smeared when they reported 50 meters of 0.3 or was it truly disseminated mineralization? And that's what we're hoping to see because the disseminated low grade is what makes these gigantic orebodies that are being mined right now by Teck Resources in the Highland Valley. So we will find that out as the results come in and as the geologists interpret them and we communicate those to the market.

So that's looking like something to look forward to in November. And in this part of BC, the exploration season isn't as weather constrained as it is in other parts of the Northwest. So we should be able to get back into the field relatively quickly once we have all the results and the model and the permit in place. So we'll have lots of news on all those things, drill results, the model and permitting over the next eight to 12 weeks. I would say we'd have at least three updates out to that effect.

Gerardo Del Real: Shaping up to be a busy, busy close to the year. The market clearly liked the results, you're up over 13% today on pretty decent volume. Market cap is still tiny given the potential here. Can you break down the market cap really quick for those that may be new to the story?

Simon Dyakowski: Yeah. Look, it's a micro cap in the truest sense. I mean, I think we're trading at like a five million market cap. And for those that are new to this story, I think it's a great time to have a look. I mean, if you look at the chart over the past three, four months, it's really sold off on no news. Really, I think just sold off with the market. Gold has had a bit of trouble this year and that drives a lot of the exploration sentiment. Now we're probably in late October into tax loss selling. So there's been nothing fundamentally disappointing in my view with the news flow. I mean, there hasn't been any until today and there's plenty of news to support the market over the next few months. And it's kind of a typical pattern in the junior space to have a bit of tax loss pressure.

And hopefully with some macro changes, we'll have an earlier end of tax loss. I'll point out that there's a few geopolitical things happening right now that we're all aware of, midterm elections. I mean, anything that creates uncertainty is usually bad for the markets. And once there's a result and a go forward path, then I think we'll be on solid footing for the gold and silver markets, which remain at least near all time highs. I mean, gold's maybe 25% off its high but it's still $4,000. Silver's hanging in there nicely around the support of $50, very, very multi-decade type support. And of course, copper has been a standout and is really looking like a top commodity heading into '27. And just a really quick note on that, there's all these supply concerns with copper. Well, one of them just emerged next door to us and that's a strike at Highland Valley Copper.

So copper, it's really in focus and we've just been hitting some high grade copper. And once we have the new permit in place, I think it won't be three, four holes at a time. It'll be many, many drill holes at the time and hopefully wider widths and really painting a much clearer picture of this project, which has had now well over 60,000 meters of historic drilling put into it.

Gerardo Del Real: Again, there's a whole heck of a lot of value there given where the market cap is right now and the potential upside. Simon, great chatting with you as always. Looking forward to having you back on as we get some of that other news coming through here in the next several weeks.

Simon Dyakowski: Thank you very much for the opportunity today, sir.

Gerardo Del Real: All right. Chat soon, Simon. Thank you.

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