GSP Resource Corp. Reports Open Pit Potential at Alwin Mine Project
TL;DR
GSP Resource Corp. has indicated open pit potential at the Alwin Mine, providing a competitive advantage in the mining industry.
The Company has completed block modelling and exploration targeting, utilizing historical drilling data for resource estimation progress.
The Alwin Property's potential economic significance and adjacent location can contribute to local and regional economic development.
The Alwin Mine Project's historical significance and modern exploration methods make it an intriguing investment opportunity in British Columbia.
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GSP Resource Corp. (TSX-V: GSPR / FSE: 0YD) has revealed that recent exploration target block modelling suggests open pit potential at its Alwin Mine Copper-Silver-Gold Project in British Columbia. The modelling indicates a conceptual open pit extending to a depth of 180 meters, with potentially mineable stope shapes continuing an additional 90 meters vertically over a strike extent of approximately 300 meters.
This development could significantly impact the project's economic viability and scale. The modelling is based on an extensive historical and modern diamond drill hole database comprising over 45,000 meters of drilling from 581 holes. Notably, the current model only considers copper mineralization, with the company planning further evaluation of potentially economically significant gold values through additional drilling.
The Alwin Mine project, located adjacent to Teck Corporation's Highland Valley Mine, has a history of production between 1916 and 1981, yielding 3,786 tonnes of copper, 2,729 kilograms of silver, and 46.2 kilograms of gold from 233,100 tonnes of ore. The average diluted head grade was 1.5% copper.
APEX Geoscience Ltd. is progressing with resource estimation work for the project, having completed block modelling, historic mine development depletion models, and conceptual exploration target open pit and stope optimizations. The resource team is finalizing kriging parameters in preparation for eventual resource reporting.
This announcement is significant for the mining industry in British Columbia and investors interested in copper, silver, and gold projects. The potential for open pit mining at the Alwin Mine could lead to more cost-effective extraction methods and potentially increase the project's overall resource estimates. Additionally, the proximity to the Highland Valley Mine suggests the possibility of extended mineralization in the area.
As global demand for copper continues to rise, driven by renewable energy technologies and electric vehicles, projects like the Alwin Mine could play a crucial role in meeting future supply needs. However, investors should note that further drilling and evaluation are required to confirm the economic viability of the project and any potential resource estimates.
Curated from NewMediaWire
