SASKATOON, SASKATCHEWAN–(Marketwired – Feb. 14, 2018) – GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the “Company” or “Gespeg”) is pleased to provide the following update on the Company’s copper properties:
President’s Message – Copper Project Update
Over the last five years, the pace of exploration in the junior resource sector was significantly slowed, as capital for the rapid expansion of properties was simply not available. Gespeg was not immune from this challenge. However, during this period, Gespeg was successful in performing exploration programs that have kept its properties in good standing, as well as adding new projects to our portfolio which have strengthened our position. The Company remains confident that the Gaspé Peninsula is ideally suited for copper exploration in Canada. Once home to the largest copper mine in North America – the Gaspé Copper Mine – which operated for approximately 50 years, the region has been vastly unexplored and largely ignored by exploration companies since the closure of the mine approximately 30 years ago.
In June of 2012, Gespeg announced its first discovery on the Vortex project. Drill hole 11-V-04 intercepted 29 meters of 0.94% copper at a depth of 5.20 meters including 16 meters at 1,38% Cu at 14 meters depth (Interval represent core length, not true width) on Sullipek East, which is a subset of the Vortex property (see the Company’s news release dated June 13, 2012, a copy of which is available under the Company’s SEDAR profile at www.sedar.com).
In February 2017 an Inferred Mineral Resource Estimate for the 100% owned Copper-Molybdenum Porphyry Project Sullipek was announced. Sullipek hosts a copper mineral resource of 2.24 Million tonnes at 1.09% for in situ total copper of 24,400 tonnes (see the Company’s news release dated February 2, 2017, a copy of which is available under the Company’s SEDAR profile at www.sedar.com).
The Company remains excited for the potential of its copper properties in the Gaspé and is currently formulating its exploration plans on the properties.
About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus in grossly underexplored regions “Gaspé and Montauban, Québec”. With a dedicated management team, the Company’s goal is to create shareholder wealth through the discovery of new deposits.
Bernard-Olivier Martel, P. Geo, the Company’s Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Gespeg’s periodic reports including the annual report or in the filings made by Gespeg from time to time with securities regulatory authorities.
President and CEO