GSP Resource Corp. (GSPR.V) has announced it received a five year multi-year area based drill permit (‘MYAB’) for its Mer property in British Columbia’s Highland Valley Copper Camp. This permit will allow the company to move forward with its planned exploration program to drill-test a new porphyry target.
The Mer property is located approximately 1.5 kilometers northwest of the Alwin Mine project owned by GSP, and Is completely surrounded by Teck’s Highland Valley copper mine land package.
The company completed a soil and rock sampling program in the area where historical drilling took place, and this defined a copper anomaly of approximately 175 meters by 120 meters, with the anomaly remaining open to the northwest. Rock samples taken at the old Mer mine returned a dozen samples running between 0.14% copper and 1.02% copper (with an average grade of 0.4% copper). The historical percussion drill program encountered intervals such as 30 meters of 0.53% copper, 15 meters of 0.50% copper and 21 meters of 0.51% copper, with all mineralized intervals occurring close to surface. A single diamond drill program hit 24 meters of 0.29% copper, so it is clear why the company would like to follow up on its high-priority target at Mer.
Disclosure: The author has no position in GSP Resource Corp. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
