SASKATOON, SASKATCHEWAN–(Marketwire – Jan. 25, 2013) - GESPEG COPPER INC. (TSX VENTURE:GCR) (the “Company” or “GESPEG“) Gespeg is pleased to announce the completion of a heliborne magnetic (MAG) and spectrometric (SPEC) survey over its Vortex, In Between, and Murdochville projects in the Gaspé region of Québec (see http://file.marketwire.com/release/Gaspesie_Geol.pdf).
During July and August 2012, Prospectair Geosurveys of Gatineau, Québec; surveyed a total of 9,128 line-kilometres over 3 of Gespeg’s properties covering a total of 1070 claims over about 585 square kilometers (Table 1). Various computer techniques allowed the identification of a total of 436 magnetic anomalies, 141 of which were defined as priority target by geophysicists.
|Targets (numbers)||Type of
|Priority 1||Priority 2||Priority 3|
|In Between||5 702||50 954||908||74||115||105||MAG-SPEC|
The MAG survey conducted over the Company properties in the Gaspé region (Vortex, In Between and Murdochville projects), was designed to produce new high resolution data, with highly accurate depth prediction, in identifying anomalous magnetic structures which have potential for precious and base metals mineralization.
The SPEC survey identifies the concentration of potassium, a key factor in the identification of areas affected by hydrothermal systems favourable to the development of mineralization.
A study of mineral deposits and occurrences across the properties indicates that pyrrhotite and magnetite (both magnetic) are frequently present in association with mineralization observed. In fact, magnetic anomalies are observed for most of these deposits/occurrences and strong anomalies are present at the depth of the main deposits of Murdochville and at the Sullipek deposit. For these reasons, the magnetic data are used to identify exploration targets. Most of the deposits and occurrences also have anomalously high potassium (K) concentrations. It is also well documented that hydrothermal systems associated with intrusive stocks may be at the origin of porphyry copper deposits, altering the surrounding rocks by potassium enrichment and creating replacement-type Cu-skarn and Cu-Manto deposits in the surrounding carbonate rocks. Potassium-rich areas that are coincident with magnetic anomalies are considered to have higher potential for discoveries, and they establish an order of priority for the investigation of the magnetic anomalies identified. The management of the company is excited by the interpretations and are planning for a summer 2013 campaign of preliminary ground exploration in order to explain the anomalies defined as priorities. Geological and structural context will also be integrated with the geophysical data in exploring these targets.
Bernard-Olivier Martel, P. Geo, V.P. exploration to the Company, 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.
About Gespeg Copper: Gespeg Copper is an exploration company with a focus on copper, especially in a region vastly under-explored for the last 2 decades in one of the best jurisdiction in the world, “Gaspé, Québec”.
With a dedicated management team, their goal is to create shareholder wealth through the discovery of new deposits.
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gespeg Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Gespeg Copper management on the date the statements are made. Except as required by law, Gespeg Copper undertakes no obligation to update these forward- looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.