Categories: Mining Stocks
Topics: Copper Stocks

GSP Resource Corp. (TSX-V: GSPR)(OTC: GSRCF) CEO Simon Dyakowski on Receiving Drill Permit for Mer Porphyry Copper Property, Highland Valley, BC

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO, the very happy CEO of GSP Resource (TSX-V: GSPR)(OTC: GSRCF), Mr. Simon Dyakowski. Simon, it is great to have you back on. Congratulations are in order served. Your long awaited drill permit for the Mer porphyry copper property has been approved. How are you doing today?

Simon Dyakowski: Hey, great. Thanks for having me on. It's been a good couple days after a few months of waiting to get our drill permit on the Mer porphyry copper property. We received it. So just want to clarify, nothing really was problematic with the permit at all, really. There was just some internal shuffling going on at the ministry and the file just traded hands a couple of times with people leaving and coming and going. So nothing contentious or anything like that. But we have the permit now, which is great. It's a simple permit. It's good for five years. It provides for some drill sites in year one, which is this year, and then the ability to expand it going forward.

And our initial drill plan here is really to follow up on some historic work that was done at the Mer Property back in the 1960s. So sort of well before this area, which is the primary copper production area of British Columbia, was developed. There was some porphyry-style copper drilled at a time when they were only looking for high-grade copper. So the initial drilling, which was done with percussion drills, so it was sort of a rudimentary drilling method back 60 years ago, returned reportedly at 30 meters of .53% copper from surface, 15 meters of .5, 21 meters of .51. So these are pretty interesting copper grades in a bulk tonnage sense, but they were drilled right from surface and they were never followed up on with any sort of meaningful core drilling. So what we are proposing to do and what we're permitted to do now is to go and drill two or three deeper core holes to confirm and hopefully expand on this porphyry-style of mineralization that we believe to be on these claims.

And I'll also add to that, we've done quite a bit of work on the claims ourselves. Haven't drilled yet obviously, waiting for that permit, but we have found with TerraSpec mapping, so this is a hyperspectral technology, we have found that some of the rock samples there have yielded paragonitic muscovite and magnesium iron chloride. So this is very technical, but just to distill it down into investor's language, it suggests that there's a higher temperature rock there, which would be proximal, so closer, to a porphyry environment rather than distal, or away from or distant from.

So this is work that we did last year. We also did some just traditional assaying, which yielded strong copper grades up to over 1% copper from surface and averaging .4% copper over the 12 samples that we took. And these are sort of right over the areas that we want to drill. So it's a compelling target and we're finally able to drill it. And we are now busy working on getting things in order to do so, including getting a drill rig, which I believe there's one available to us, and working through the day-to-day nitty-gritty of getting a drill program underway. So exciting times and should mention that the upcoming drill program will also include some targets at the Alwin Property, which is about a kilometer away. So although they're not contiguous there, we treat them as the Alwin-Mer project now.

Gerardo Del Real: Well, listen, when you first came on, you had a market cap half of where you are today. And a large part of that was people wanted to get this permit in hand. And now, sure, you've had a little bit of a rut, but your market cap is still tiny now that you have de-risked this portion of it. Can you let the fine folks out there know where the market cap sits today?

Simon Dyakowski: Yeah, we're just under 7 million today and about double from when we started chatting, but it's still minuscule. And I want to point out that something has changed in the vicinity of us. So the Highland Valley has ... It's dominated by Teck Highland Valley Copper, and so that's obviously a big project.

But there's another couple of players around us too, and there's one that's been recapitalized recently. It's called Getty Copper, and they're a little bit to our north. And so their market cap last year was only about 10, $12 million before they got refinanced and a new group took it over. And now they're about 70 million. And so they went up seven times. Obviously, they issued some stock, but I think it goes to show that there's big rerating potential in the Highland Valley if you're exploring and actively drilling. And so we're now at that point where we're going to be doing that.

So I think potentially, it's a good time to have a look here. I think once the drill starts turning and as the whole area gets a little bit more like an area play and hotter, we're right there with one of the most advanced projects at the Alwin. It's got a bit of a starter resource on it, but we think that can grow, especially if we include gold and silver in the resource. So there's lots of ways this is going to go, but we obviously need to get the permits in place first, which we have now, and get into the exploration season.

And I'll also point out that previously, if anybody looks at our stock chart, they'll see that we usually did drilling in the fall, which created a little bit of kind of a lag in news flow because you drill late fall, results come out early in the new year, and then you really can't work again until the next year. So our intention this year is to start working right now and then have the ability to really ramp up as results come in into the fall. So spring into the fall. So a much more consistent pattern of news flow and potential to knock off these rerating catalysts.

Gerardo Del Real: The timing couldn't be better. I encourage everyone to take a look at the projects, the stock, the structure, again, tiny market cap and plenty of catalysts for 2026. Simon, always a pleasure. Thank you for your time.

Simon Dyakowski: Well, thanks very much for having me on. Appreciate it.

Gerardo Del Real: All right. Chat again soon. Cheers.

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