Categories: Precious Metals
Topics: General Precious Metals / Gold Stocks

GSP Resource Corp. (TSX-V: GSPR)(OTC: GSRCF) CEO Simon Dyakowski on Large Conductive Anomaly at Alwin Mine Property

 

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. Good afternoon, Gerardo. I am great. Thank you so much for having me on the show today.

Gerardo Del Real: No. Listen, you had some news this morning that is being well received, and look, I got to say we chatted a bit off-air, and we have not had the summer doldrums that we've been accustomed to the past several years, and we talked about how that's going to be a huge positive here, coming into September, which of course kicks off conference season. Then, we have October, which typically, the last several years, anyhow, for a lot of people it's been tax loss selling time, and this year has been a lot of new money coming off the sidelines into the resource space, and it seems like the earlier stage companies with better assets and experienced teams are starting to catch a bid that's highly encouraging in August, and I thought that it was the perfect time for you to advance this AMT geophysical survey and what you uncovered there, so I'll let you provide the context there.

Simon Dyakowski: Yeah, no. Thanks for teeing it up like that. I mean, it is quite a remarkable year it's turning into here. GSP has been active on the Alwin project for a number of years now; however, this year, we're really starting to advance with some larger targets, and with the way the venture market is performing, it's funny. Releasing news in August is oftentimes the summer doldrums, sleepy, no reaction, et cetera, but this year it's almost like we had our summer doldrums back in February, March and April when the market had a little hiccup there and there was a bit of fear. So, it's a great setup, I think, to have a good fall. Nobody's losing money right now, so why crystallize a gain at the end of the year, just to pay more tax? So, it could be one of those years where the stars line up, and for the market and for junior investors in general and for GSP. I mean, it's a great opportunity here. We haven't really moved significantly yet this year.

We had some fantastic news at the start of the year. We made a high grade gold discovery. We expanded on our high grade copper discovery at the Alwin mine, but didn't really get a lot of love in the market. We had a brief moment in January, but then really got caught in that swoon in February, March, April. Then, we mobilized our deeper geophysical survey in June, just recently got the data from out of the preliminary data and put out the first peak of it today, and the market really liked it. We traded, basically, almost 750,000 shares up to 10 cents, and we had a good reception, and just to kind of touch on what the news was, we have identified a very large, potentially conductive target on a new part of our property, so this is away from our high-grade copper, gold, silver deposit at the Alwin Mine. It's about a kilometer and a half north, and it could be the porphyry source of the high-grade mineralization that we have already discovered and quantified into a maiden resource estimate. It's very exciting news for us.

Gerardo Del Real: Tell me what the rest of the year looks like. We're coming into that season where, for the few that haven't been paying attention, they're going to start to pay attention very closely here in the next several weeks. How's the rest of the year looking for you?

Simon Dyakowski: It's looking good. So, there is probably a second part to this geophysical survey. We're still getting a bit of data back on an experimental survey, so we hope that that's valid, and we'll get that out to the market as soon as we have it interpreted. We also plan to mobilize a ground program now that we have an area to hone in on, a kilometer and a half north of Alwin. We want to go and sort of ground truth it, so that'll mobilize over the coming weeks. We expect to have some quicker results from that. That won't be waiting for survey, but it will be your more typical mapping, sampling, get some rocks into the laboratory and get numbers out. Then, we're also waiting for our drill permit for our Mer property, which it's really part of the Alwin mine or the Alwin mine property, but it is about a kilometer away, so it's another little enclave property that's completely surrounded by our big neighbor, tech resources and the Highland Valley Copper operation.

We're waiting on that, so potentially within the next 60 to 90 days, we'll have an additional two porphyry style targets, one at Mer and now a brand new one at Alwin and the potential to drill those. So, we're building up those targets, getting them permitted. The one that we announced today is permitted, and of course we have a permit to drill at our open pit target, which needs some expansion drilling as well. So, it's all leading into that. I would expect more frequent news going forward, and now, with a more holistic focus on the entire property, rather than just our previous focus, which was a little bit narrowly focused on the Alwin deposit proper. So, it's just getting bigger, and Gerardo, I would be, I guess, remiss not to mention something very significant that happened in this area since our last conversation a few weeks ago. When we were chatting, I think on our GSP intro video, the Teck Highland Valley Copper had just received a very significant permit for a mine extension. As you know, Teck has transformed itself through a corporate transaction, from being a diversified miner, to now one that's focused more on base metals or entirely on base metals, and so without the coal business. If you look at the new Teck Resources website, teck.com, this is really significant. The first thing on their flash page is, "Teck announces construction of Highland Valley Copper mine life extension to proceed.” $2.4 billion to extend the mine life. That is huge for us, right? I mean, if you looked at Teck's website last year, Highland Valley Copper might've been buried at the bottom as a footnote. I mean, not as a footnote, but not the flagship, so it truly is the flagship now of new Teck, and they are spending, literally, billions of dollars on this project, which is on our doorstep, literally.

I took a couple of investors up to see the Alwin property last week, and you could hear the explosions and see the trucks moving in the operation below us, so it's huge that they're spending billions of dollars. I never expected it to take them seven, eight years to get the permit, but I mean, they have it now. So, really, nothing can stop them, and they're coming very close to our property, so I think if we can continue to expound on this porphyry target that we have and continue to investigate it, and we have independent advice from several geologists that are quite excited about what they're seeing with this potential new porphyry source of mineralization in this very, very prolific, porphyry district. It could be very, very big for our shareholders.

Gerardo Del Real: No. Look, the timing could be better. "Drill, baby. Drill," should be the mantra for companies that are looking to add significant value. There's eyes on the resource space. The juniors are getting love. Discoveries, whether they're green fields or advanced brown fields discoveries, are also getting love, so can't think of a better setup here for the rest of the year. Simon, anything to add to that?

Simon Dyakowski: I think we covered it all. Thanks a lot for having me on, and great questions and good discussion, as always.

Gerardo Del Real: No. Appreciate it, as always. Thank you for your time. Looking forward to having you back on. Take care. We'll chat soon.

Simon Dyakowski: Thanks. Bye-bye.

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