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GSP Resource Corp.
Summary
| Project: | Olivine Mountain | |
|---|---|---|
| Deposit: | Olivine Mountain | |
| Location: | Canada | |
| Commodities: | Copper-Silver-Gold-Palladium-Molybdenum | |
| Date: | 1/15/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-1-2020: GSP Resource Corp. announces an Exploration/Drilling Update report for its Olivine Mountain deposit at the Olivine Mountain project. Drilling results incl. 10.1m @ 0.233% Cu, 0.52g/t Ag, 0.040g/t Au, 0.046g/t Pd from 89.6m. Vancouver, British C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Ostler (Not stated) | |
| ABSTRACT: | Vancouver, British Columbia – January 15, 2020: GSP Resource Corp, (TSX-V: GSPR) the “Company” or GSP) is pleased to release the preliminary drilling results on the Olivine Mountain property, located in Similkameen Mining Division, British Columbia. The Olivine Mountain property covers part of the Tulameen Ultramafic Complex, a large slab of magnesium and iron-rich rock that ascended from near the base of the earth’s crust to its current position during continental collision and the emplacement of the Cache Creek terrane in southwestern British Columbia. Previous mapping and the 2018 GSP soil survey confirm that there is a northwest-southeasterly trending geological contact that separates mafic rocks in the northeastern part of the property from ultramafic rocks in the property’s southwestern part. The predominant economic metals present in the northeastern mafic rocks are copper, cobalt, nickel and gold. Those in the southwestern ultramafic rocks are nickel, chromium, and platinum-group metals, mostly palladium. Mineralization of interest to GSP was concentrated in the Olivine Mountain property area during at least four separate events resulting in a diverse group of exploration targets. Original copper mineralization was concentrated in parts of the mafic rocks in the northern part of the property near the ASP 14 showing while the Tulameen Ultramafic Complex was formed near the base of the earth’s crust. Platinum-group metals, mostly palladium, were concentrated in east-west trending structures in the ultramafic rocks in the southwestern part of the property area due to deformation during ascent from the base of the crust. Porphyry copper-molybdenum mineralization and alteration occurred during granitic intrusion in the southeastern part of the property area around the HOP showings and in the central part of the property. Gold-bearing shears and quartz veins developed throughout the northeastern part of the property area. Late shears further concentrated copper mineralization in the ASP 14 showings area in the property’s northern part. | |
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