This week, gold, copper, and silver metals explorer GSP Resource Corp. (GSPR:TSX.V; GSRCF:OTCBB) announced it received a five-year multi-year area-based (MYAB) drilling permit for the Mer property in the Highland Valley copper camp of British Columbia.

With the approval, the company can move forward with its planned diamond drilling.

Does it make the stock a buy on the charts?

I will investigate and report on this key matter today.

We begin with some technical analysis and an update with maps on the company’s current operations and news.

GSP Weekly Chart: Technical Analysis

1. The action of the weekly chart Stochastics (14,5,5 series) and MACD suggests GSP is poised to surge to resistance at CA$0.27-CA$0.29
2. A move above CA$0.27 appears likely, and that breakout would launch a rally at least as high as previous resistance at CA$0.44 and perhaps CA$0.56
3. The stock is currently pushing up against resistance at CA$0.13, and a breakout appears imminent.

CDNX Weekly Chart: Technical Analysis

1. GSP resources is a component of the resource-oriented CDNX index.
2. The CDNX index has a large bull wedge pattern, and within it is a significant inverse H&S pattern.
3. These patterns target a multi-decade bull run to at least the year 2006 highs.
4. Individual stocks like GSP tend to outperform the index during such bull runs.

The Mer Property, Kamloops

The Mer property comprises 185 hectares in the Kamloops mining division, located approximately 1.5 kilometers northwest (NW) of GSP’s Alwin mine project and is surrounded by Teck Resources’ Highland Valley copper claim group directly west, and south of the Highland Valley Copper Mine’s active operations.

The property hosts a copper exploration target zone located NW of the company’s Alwin mine high-grade copper-silver-gold target zone.

The permit provides for an initial year 1 diamond drilling program, followed by permitting sufficient surface disturbance to support anticipated expansion diamond drilling within the following four years of the permit.

The property is well-accessed via existing logging roads that traverse the proposed drilling area. 

It’s an area where prior logging activities and excavator trenching have exposed a zone of copper mineralization at surface.

Alwin-Mer Properties & Highland Copper Camp Update

Throughout 2024 and 2025, the company executed multi-phased exploration campaigns, including surface rock and soil sampling, shortwave infrared (VIS-SWIR) hyperspectral TerraSpec analysis, NSAMT (natural-source audio frequency magnetotelluric) geophysical surveys, and diamond drilling.

These exploration campaigns identified opportunities to expand existing mineral resources and resulted in the discovery of new potential porphyry and high-grade copper-gold-silver vein targets.

With the company targeting copper, it’s important to look at the copper price.

Weekly Copper Chart: Technical Analyst Opinion

1. An inverse H&S pattern is in play, targeting a US$8.00 copper price in the coming years.
2. A breakout from the pattern was followed up with a bull pennant and a breakout from that pattern.
3. From a technical standpoint, the bulls are in total control.

Highlights of the 2024 and 2025 Alwin mine project exploration include:

1. Discovery of new high-grade gold zone within drill hole AM-24-06 assaying 5.04 grams per tonne gold and 1.01% copper over 7.90 meters, including 22.93 g/t gold and 1.82% copper over 1.64 meters; the results point to the presence of a unique high-grade gold subset of mineralization at Alwin that is not yet well understood.
2. The results of the summer 2025 NSAMT survey identified an untested deep conductive anomaly within the northern portion of the Alwin property; the results could indicate a potential underlying porphyry source for the high-grade copper-gold-silver mineralization at Alwin.

GSP Soil Geochemical Results

In January of this year, GSP received final soil geochemical sample analysis from its fall 2025 Alwin mine and Mer property geologic reconnaissance exploration program.

The 2025 Alwin-Mer results released for 204 targeted grid soil geochemical samples form part of the larger 2025 Alwin-Mer geologic reconnaissance exploration program.

Surface rock grab sample results released previously highlight the high-grade Apex zone that yielded assays, including 1.85% copper, 348 grams per tonne silver and 2.6 g/t gold; in addition to the Mer zone returning widespread moderate copper values.

Alwin-Mer grid soils targeting the Mer, Alwin mine south, and Little OK Lake areas. Highlights of the soil geochemical surveys are as follows:

• Soil sampling at Mer targeted an area of historic trenching and about 1970s percussion drilling. Of the 157 soils collected at Mer, a total of 31 samples returned greater than 60 parts per million copper, including eight samples greater than 150 parts per million copper and up to 315 ppm Cu.
• The soil results define an approximately 175-by-120-meter apparently northwest-trending copper anomaly extending northwest of the focus of historic drilling and trenching.
• At the Alwin mine, soils targeted near-surface copper drill intercepts occurring at the edge of the Alwin mine pit shell, where 1968 drilling (hole 68-45) returned two meters averaging 4.4% copper, which was followed up by the company within drill hole AM-21-02 located 50 meters to the southeast that returned 1.8 m averaging 3.2% copper.
• At Alwin mine south, a total of nine samples returned greater than 60 ppm copper, including five samples returning greater than 100 ppm copper and up to 175 ppm copper.

Year 2025 Highlights

Alwin Mine – Mer Project:

• January 2025: Reported assay results of the surface diamond drill program at the Alwin Mine project completed in late 2024. Highlights include:

• The discovery of a new high-grade gold zone within drill hole AM-24-06 grading 5.04 grams-per-tonne (g/t) gold (Au) and 1.01% copper (Cu) over 7.90 m, including 22.93 g/t Au and 1.82% Cu over 1.64 m; in addition to an upper zone grading 1.22% Cu, 22.5 g/t Ag and 0.64 g/t Au over 2.5 m;
• Accelerated and completed 100% Acquisition of Alwin Mine property:

• The company opted to accelerate the balance of the payments to finalize the acquisition ahead of schedule. Upon fulfilling all necessary requirements, GSP exercised the option and completed the transfer of claims with the vendors to become the sole registered and beneficial holder of the Alwin Project.

• March 2025: Mer Property – commenced drill permitting of a 5-year multi-year area-based (MYAB) exploration permit.

• June – August 2025: Advanced AMT Geophysical Survey at Alwin Mine Property, identifying a large conductive anomaly.

• September – December 2025: Mobilized and completed geologic reconnaissance exploration program at the combined Alwin-Mer Properties:

• Results yielded several new targets, including the high-grade silver-copper Apex target within the Alwin Mine Zone.

• Demonstrated Potential New Porphyry Sources of Mineralization Across the Combined Alwin-Mer Properties, with the receipt of surface rock sample visible and short wave infra-red (VIS-SWIR) hyperspectral TerraSpec® analysis:

• The VIS-SWIR hyperspectral data returned reveal important spatial patterns that provide strong evidence of potential porphyry copper mineralization vectors.

Weekly Gold Chart: Technical Analyst Opinion

1. Gold is consolidating its two-year rally of 2024-2025 and is incredibly well supported in the US$4,400-US$3,500 zone. This makes companies producing and exploring for gold attractive to metals-oriented money managers.
2. The key 14,5,5 Stochastics oscillator is in a buy zone and hooking up sharply. This suggests a major rally could be imminent, which means a rally in most metals stocks would be imminent too.

GSP Resources Shares Outstanding

Significant Shareholders

Stock price at time of writing (April 25, 2026): Approx. CA$0.14

Short-Term Technical Price Target: CA$0.27

Medium-Term Technical Price Target: CA$0.44

Long-Term Technical Price Target: CA$0.56

Technical Rating: Strong Speculative Buy

Investors and analysts can access recent news releases here.