Gespeg Resources Ltd. (TSXV:GCR)

Gespeg Resources Ltd. (TSXV:GCR)

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Exploring the unexplored. Gespeg Resources Ltd.is an exploration company with a focus on grossly underexplored regions “Gaspé and Chibougamau Québec” The Gaspe region with projects in the Chandler Sector for strategic and energy metals, Lac Arsenault for polymetallic in the sector of Bonaventure and Murdochville sector for strategic and energy metals. Gespeg goal for these projects is to revive exploration and make new discoveries and participate in the development of the economy in the region.

An addition to our portfolio is in the Chibougamau region with a project in proximity of Chibougamau and Mistissini the project is adjacent to a past producing mine and is a mining friendly sector. All projects are accessible by road and close to municipalities which keeps low cost for exploration.

Projects:

Gaspé: The Gaspe Peninsula has had multiple producing mines historically, one of them being the Gaspe Copper Mine (“Gaspe Copper”) in Murdochville, which produced approximately 141 million tons @ 0.85% copper from 1954 to 1999 under Noranda.

Gespeg has a 100% undivided interest in 156 mining claims in the southern part of the Gaspé Peninsula, to the North-West of the municipality of Chandler and North-East of Port Daniel

The Gaspe Peninsula has had multiple producing mines historically, one of them being the Gaspe Copper Mine (“Gaspe Copper”) in Murdochville, which produced approximately 141 million tons @ 0.85% copper from 1954 to 1999 under Noranda. Over the last 14 years, Gaspe Copper changed hands multiple times, being owned periodically by The Falconbridge, Xstrata and now owned by Glencore\Xstrata. A resource of 180 million¹ tons is still present in the Murdochville camp. In 2012 Gespeg announced a discovery of 29m @ .94 % copper at 5.20m from surface 25km west of the Gaspe Copper mine, in a project known as Sullipek East. This property hosts a similar geologic environment as Gaspe Copper. In 2017 Gespeg issued a Ni-43-101 on the Sullipek property and acquired the Lac Arsenault project in 2018. the latest addition to the Gaspe portfolio of property is Native Copper project with multiple showings with high grade sampling.

Geology:

The Native Copper Project, situated west of the Municipality of Chandler, is composed of 156 claims divided in 4 sectors Native Copper South, North-West, North-East and Central and has five (5) known indicators: Ruisseau Bleu, T.Nelson 1 and 2, Riviere St-Jean South, Route 102 S-W and Jean-Baptiste Beaudin. The project is part of the Mont Alexandre syncline, associated to an important metallotect volcanic horizon part of the Lake McKay Member, which lies within the greenstone belt present in the Gaspe Peninsula. The Lake McKay Member is situated at the bottom of the West Point Formation and associated to an assemblage of volcaniclastic material, conglomerates and sandstones with some minor interbedded lavas. This type of volcanic horizon is known to generate multiple mineralized copper zone. The greenstone belt has already shown 9 indicators in the area, it appears that the obvious model for these types of mineralization is the Keweenaw Peninsula native copper model.

Geology:

Lac Arsenault Property:

Gasper has a 100% undivided interest in 24 mining claims in the southern part of the Gaspé Peninsula, to the North-West of the municipality of Port Daniel and North-East of Bonaventure. Situated along the Grand Pabos Fault known for high grade Au, Ag, Cu, Pb showings North of the Riviere Garin Fault.

Las Arsenault Features:

-5 major vein systems: the Baker vein, the Mersereau vein, the Line 4 W vein, the Marleau vein and the Greek veins as well as related breccias.
-The polymetalic mineralization found to date represents telescoping mineralized veins and breccias caused by an underlain intrusion.
-The sources of numerous mineralized boulders, geochemical Au and Ag anomalies and geophysical conductors remain undefined.
-Since 1946, work in the area comprised of prospecting, geophysical surveying, geochemical surveying, mapping, trenching, stripping, diamond drilling.
-5000 m of drilling historically
-Deepest hole 600m structural not fully analyse.
-Average depth 80m
-Exploration programs determined veins are open along strike and at depth.
-In the literature of historical works, two estimates of unclassified resources are mentioned. Calculations made for internal and mentioned in some GM ((GM 55619 page 1 and 2 G. Henriksen report 1998)) and some annual management report of companies.

In 2005-2006 exploration work (prospecting and drilling) were executed on the property but the data is not available in any government report (Sigeom)

Opening of new roads makes this project very accessible. ​Gespeg believes that the new approaches and technologies in the resources sector will increase the potential for new discoveries along the Grand Pabos fault.

Vortex Property:

Vortex is a copper, molybdenum and gold project, located 25 kilometers west of Murdochville with 130 claims and having an area of 68 square kilometers. This project is seperated in two blocks Sullipeck East where a discovery of 29m @ .94 % copper at 5.20m from surface was announced in 2012 and Sullipeck which a 43-101 resources calculation was done February 2017 Gespeg portion 2,240,000t@1.09% Cu for 24,000 tonnes Cu. The other portion of the resource is within Glencore/Soquem portfolio of properties.These properties hosts a similar geologic environment as Gaspe Copper Mine. Additionally, geophysics and soil surveys were completed in 2012 and 2013.

Geology:

The Vortex Property is located inside the tectonic province of the Appalachians in the Gaspé Peninsula, specifically in the south of the McGerrigle Moutains, and is part of the NTS 22A13. Comprising 37 mineral titles, it is subdivided into five adjacent blocks: the Sullipek block and the Sullipek-East block.

The property overlaps the sedimentation units of the Siluro-Devonian age that were affected by the Acadian orogeny. The latter is responsible for the regional structures, namely the open folds facing E-NE with an EW-trending general attitude of the sedimentation units, and a dip between 10 and 45 degrees toward the south. According to the nomenclature (Wares, 1988), the rocks in this region may be grouped into three separate units. From bottom to top, they are: Le Groupe de Chaleurs, Les Calacaire Supérieur de Gaspé and Les Grès de Gaspé. This association of rock types are unconformably deposited on Cambro-Ordovician rocks that belong to the Supergroupe de Québec.

Two faults of regional scope appear: a) the Chic-Chocs fault, EW-trending and b) the Madeleine River fault, facing NE-SW. South of these regional faults, an unidentified series of parallel faults, facing NE-SW, are interpreted. NS and NW-SE fracture networks, and a NE-SW network that is far less well defined, have had powerful control on the location of magmatic intrusions vein in the region.

Other than the plutons of McGerrigle Mountains, Vallières de Saint-Réal and the sill of Mont Hog’s Back, intrusions generally appear in the form of EW-trending sills or dykes facing NW to NE. All these intrusions are of the syn to post Acadian ages, namely Middle Devonian to Late Devonian and are part of the Lemieux intrusive suite.
Metasomatism would have been affected by large volumes of rocks inside the metamorphic aureole of the McGerrigle Mountains. Metamorphism has transformed limestone into marble and siltstone into lime silicate hornfels, whereas metasomatism has modified marbles and hornfels into skarns and porcelanites. These two types of transformations are quite different, as the vast majority of mineralized occurrences observed in the area seem connected to one or several metasomatic hydrothermal systems.

Sullipek East showing Data:

-Located at approximately 25 kilometres West of Murdochville
-Located within a hydrothermal system of roughly 1000 meters in diameter.
-The rock that is exposed appears in the form of porcelanite and is part of the “Formation Forillon” and the“Formation Indian Point”.

The copper mineralization is observed in two forms:

- Disseminated and inside certain centimetre and pluri-decimetre bands of calcarenite and related to the retrograde alteration with an association of carbonate chlorite and chalcopyrite minerals (C-C-C).
-A late system of quartz-chlorite-millimetric chalcopyrite to centimetre veins of poorly defined direction.

-Their perimeters have been subject to boring operation.
-21 historical exploratory drilling operations (1967 to 2001)
-12 recent drills holes.
-5 drills holes in 2009 (2149 m)
-7 drills holes in 2011 (2572 m)

The recent drilling analytical results indicate significant copper values for conclusive intervals with three stratigraphic levels that show good mineralization potential.

The lower contact of the “Formation Forillon”:
29.8 m at 0.94% Cu: DDH 11-V-04
21.0 m at 0.13% Cu: DDH 11-V-01
35.7 m at 0.18% Cu: DDH 11-V-05
1.9 m at 0.54% Cu: DDH 09-K-04
The upper contact of the carbonate-bearing “Formation Indian Point”.
-10.3 m at 0.57% Cu: DDH L89-1
-11.2 m at 0.24% Cu: DDH 11-V-04
-9.0 m at 0.15% Cu: DDH 11-V-06
-The IP1 Horizon
-17.0 m at 0.3% Cu: DDH 11-V-04
-7.0 m at 0.5% Cu: DDH 11-V-04

CHIBOUGAMAU Project:

The Chibougamau area has an extensive mining history. Nevertheless, it remains relatively unexplored. Copper and gold were discovered in the early 1900's and roads and railroad access were completed in the early 1950's. The town of Chibougamau was established in 1952 and numerous mines were developed along the shores of Lac Doré and Lac Chibougamau.

Davidson Project:

The Davidson Project is currently 100% owned by Gespeg and is comprised of 33 claims situated south of a past producing mine Icon Mine, which historically produced 1,616,567 tonnes grading of 3.07% copper. The property is adjacent to Route 167 North East of Chibougamau and has several copper showings, including Clero, Blondeau, and Bouzan-Cuivre.


Gespeg Resources Ltd. .is a publicly traded company listed on the TSXV under the ticker symbol GCR. If you are a U.S resident and would like to purchase Canadian securities traded on the TSXV or CSE please open an account at Interactive Brokers (Phone #1-877-442-2757 ) Interactive Brokers is an online discount brokerage that offers U.S residents access to trading Canadian securities. Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 135 markets in numerous countries and currencies from a single Integrated Investment Account to customers worldwide. This is not investment advice. Please view the disclaimer found on this website.
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  • Founded Year 2010

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  • Address 4710 rue. Saint-Ambroise, suite 308 Montréal (Québec) H4C 2C7

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