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

GSP Resource Corp. (TSX-V: GSPR)(OTC: GSRCF) CEO Simon Dyakowski on Sampling 348 g/t Silver and 12% Copper at New, Near Mine, Expansion Targets

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of GSP Resource Corp. (TSX-V: GSPR)(OTC: GSRCF), Mr. Simon Dyakowski. Simon, how are you today?

Simon Dyakowski: Hey, doing very well. How about yourself?

Gerardo Del Real: I am well. I am well. Thank you for asking. We were joking a bit off-air that if $4,000 is the new gold consolidation price, and $47 is the new floor, right around that level, on the silver side of things, that we're probably in for a phenomenal close to the year and a phenomenal 2026. And look, when I look around, I see debt levels here in the US, we're at $38 trillion. I look unfunded liabilities, $130 trillion. I see that we're adding to that deficit. I see there's a 98% chance of a fed rate cut tomorrow, and so when I see a healthy pullback like the one we're experiencing, it actually puts a smile on my face. Because it's fun to me to see all of the doomsayers saying, "Well, precious metals bull market is over," knowing very clearly that all of the bullish reasons why we think this is going to be one for the books, and it has been, are still intact and truer than ever. I would love your thoughts on that.

Simon Dyakowski: Yeah. No, I mean it's really interesting to see how the sentiment has shifted over the past week, and I think it just goes to show that some of the fast money was leveraged and it's come in and come out really quickly. But none of the fundamentals, as you pointed out, the neutron debt bomb or the fed's course of action here have changed. So in my books, it's a normal, healthy correction after a big run in the metals. The fast money's come out, which is good. We don't want them anyway, and probably a good opportunity to reload on some names or to increase positions for the next leg in the bull market.

I just find the whole backdrop right now is fascinating. You have senior bankers in the US openly promoting gold. It's crazy. It's a great place to be. So, we're chatting here, late October, ahead of the fed meeting. Let's see what the rest of the year brings. And it's good for what we're doing at the micro or the project level at Alwin, and with some pretty decent precious metal values coming out of our recent sampling program.

Gerardo Del Real: No, let's get right into that. It's the perfect segue. I think quietly, while we've had this little mini consolidation in the precious metal space, copper has been a standout, right? It's pushing towards ... It wants to make new records. When you look at the supply deficits that are materializing, how structural they are, I'm convinced we're going to see some new copper highs. And you just sampled 348 grams per tonne silver and 12% copper, and so I wanted to have you on. You rushed those assay results from the fall 2025 reconnaissance targeting program. Can you talk to us a bit about what the approach and the intent of that program was, where you are now, and then of course, what comes next, right?

Simon Dyakowski: Yeah, so the program had a number of different goals, and as mentioned, the results that came out today were only the preliminary rushed assays, so most of the results are still pending. But we wanted to get these out because they were quite well-mineralized, and we sampled them and thought time is of the essence. So at the Alwin project, we have the historic Alwin mine, which was only partially mined, high-grade copper, silver, gold deposit, and we've put an open-pit resource on that late last year. It is, I think, artificially constrained by the property line with our behemoth next-door neighbor, Teck Resources, potentially Anglo Teck if their deal goes through. So, we have a really good starting point with a million and a half tonnes of over-percent copper inferred resource, but again, hemmed in by property lines. We think it can get bigger.

But what we wanted to do with this program was to go and touch on some other targets to see if we could expand the mineralization on the property, and so that's what drove the results today. So, about a kilometer away from our deposit at the Apex target now, we sampled 12% copper and 348 grams per tonne silver in an exposed trench that has recently been made re-accessible through some logging roads. So that's super high-grade, never been drilled by us, so it's a brand-new showing for us. We also, in that reconnaissance program, found other structures well away from our deposit, but really demonstrating that the area here can grow into something that might be much more commercially interesting to a larger company. So, that was the focus of the program at sort of the south end of the property, so at the Apex zone and at the Alwin zone.

But then we also have two what I would consider to be very blue-sky targets, and these are more in the realm of porphyry-style copper, so sort of the big bulk tonnage copper deposits that one might associate with the Highland Valley. One of these we generated in August with NSAMT, or Natural Source AMT conductors. We've identified a very large conductor at depth underneath the north end of the property, and so we have some samples pending from there to sort of ground truth that drill target. And then we have acquired last year 100% ownership in a new property called the Mer, and the Mer sits within the same structural corridor or alteration fluid pathway that encompasses some of the large Highland Valley copper deposits that are in production. And then our new Apex zone, our Al showing, our Alwin mine, and now at the northwest extent of it, we have the Mer zone, where we've sampled some very interesting copper grades, up to 0.5% copper at the surface.

And we do have access to a historic drill database there from the 1960s and '70s, where some shallow drilling uncovered some porphyry-style copper mineralization. However, those holes only were drilled to about 50 to 70 meters depth, so by modern standards, you would never drill a porphyry target to less than 100 meters. You would go for at least 200, 300, maybe 400 meters to test the extent of it. So we now have a drill permit application pending for that Mer zone.

And so to sum up the program, we've generated a number of new targets. We've supplemented our existing targets, including the Mer and the big porphyry target that we have to the north of Alwin, but we're waiting now for our drill permit for the Mer target so that when we do go in to drill, we can tackle all these targets at once. And unfortunately, the government in British Columbia was on strike. They basically had a general strike and they targeted the mining office. So, we expected to get our permit to drill, I think, six or eight weeks ago, but unfortunately, the inspector on the file was part of this strike action. Thankfully, that has now resolved itself as of this week, so we're hoping to get that permit very soon, and that will position us to put together a drill plan based off of these results as well as the results that we're still waiting for from the lab.

Gerardo Del Real: Yeah, there seems to be a lot of that government strike stuff going around there, Simon, whether it's north, south, and everywhere in between. No, listen, I've been really, really adamant to subscribers of the paid services that I manage through Digest Publishing and that I write about value right now in this part of the cycle, right? I think it was really easy in the beginning to see the rising tide lifting all boats. And a lot of companies got ahead of themselves valuation-wise, and now are having to prove that they're worth what the market thought they were worth, and some of them are, and some of them are not.

Getting ahead of the catalyst is going to be, I think, critical and key to maximizing this part of the profit cycle. And so, when I look at a GSP and you're waiting on the permit, yes, no one likes waiting, yes, we all want drill results yesterday, but that's actually the time to be doing due diligence. So, I encourage everybody to go to the website, look the historic numbers, look at what was there before. Imagine a scenario where you have a whole lot more access and a better interpretation of everything, and make a decision based on that, right? Anything to add to that, Simon?

Simon Dyakowski: Just to build on that, you hit the nail on the head with respect to getting ahead of the catalysts, and we have now positioned ourselves to execute now and to hit on these catalysts. So, if any investors are interested in having a chat about our drill plans or what the future news flow would look like, happy to have a call, but we're really ahead of the catalysts still. We're not out here telling a story of what we found. We're out here telling a story of what we think we might find, with a much stronger geologic understanding of our property now.

Gerardo Del Real: Looking forward to getting drills turning, seeing what you're able to find, what Mother Nature left behind, and seeing you all close the year out strong. Simon, thank you so much for your time. Looking forward to having you back on as well.

Simon Dyakowski: Thanks, Gerardo. Have a great day.

Gerardo Del Real: All right, chat soon, and cheers.

Click here to see more from GSP Resource