Northwire Canada EditionWednesday, October 21, 2026
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GOLD 4142.60 −0.4% SILVER 58.15 +1.5% COPPER 6.62 +0.6% OIL 97.82 −0.7% PALLADIUM 1104.00 −1.7% DSV 11.23 −1.1% PMET 3.23 +1.2% GAL 0.390 −1.9% EVI 0.480 −2.0% SF 0.365 −2.7% EPL 0.175 +0.0% TORQ 0.055 +0.0% LMG 0.390 −2.5% MMY 0.760 +0.0% MOX 0.205 +0.0% ADZ 0.150 +25.0% NXS 0.150 +0.0% ETG 2.69 −11.2% EMNT 0.355 +1.4% PPM 0.120 −20.0% CERT 2.35 −0.4% GOLD 4142.60 −0.4% SILVER 58.15 +1.5% COPPER 6.62 +0.6% OIL 97.82 −0.7% PALLADIUM 1104.00 −1.7% DSV 11.23 −1.1% PMET 3.23 +1.2% GAL 0.390 −1.9% EVI 0.480 −2.0% SF 0.365 −2.7% EPL 0.175 +0.0% TORQ 0.055 +0.0% LMG 0.390 −2.5% MMY 0.760 +0.0% MOX 0.205 +0.0% ADZ 0.150 +25.0% NXS 0.150 +0.0% ETG 2.69 −11.2% EMNT 0.355 +1.4% PPM 0.120 −20.0% CERT 2.35 −0.4%
M&A / Property Routine +

GSP Resource's Olivine optionee Full Metal drops option

Full Metal clears option encumbrance on the Olivine Mountain project despite critically constrained liquidity.

By The Northwire Desk — AI Analysis Aug 21, 2026 · 16:56 FMM · 0.05 Full Metal Minerals Ltd.
Executive Summary

GSP Resource Corp. has regained 100% ownership of the Olivine Mountain Copper-Gold-PGE Project in British Columbia after Full Metal Minerals Ltd. failed to meet cash, share, and exploration expenditure deadlines to earn a 60% interest. The option termination is unconditional, leaving GSP with a clean title to the ~3,022-hectare property.

The release highlights a 2020 NI 43-101 technical report recommending a two-phase follow-up exploration program, citing prior surface sampling, geophysics, and maiden drilling. GSP has engaged Hillside Consulting for $50,000 CAD for investor relations and marketing services.

Material Impact

The termination of the agreement removes a major encumbrance, allowing GSP to unilaterally advance its recommended exploration program. However, the asset remains in the pre-resource stage with no defined reserves or resources.

The benefit of regaining full control is heavily offset by the company's dire financial position. Full Metal Minerals Ltd. holds only $2,665 in cash, carries a negative equity of -$760,504, and faces a working capital deficiency of $761,792. The engagement of an investor relations firm for $50,000 represents a significant expense relative to the company's cash position, raising immediate questions about funding. The news serves as a procedural cleanup that enables future exploration but does not resolve the underlying liquidity crisis.

FMM · Price
Company Overview

GSP Resource Corp. is a pre-revenue junior exploration company focused on the Olivine Mountain property in the Similkameen mining division of British Columbia. The property covers approximately 3,022 hectares and sits within the Tulameen ultramafic-mafic complex, known for hosting copper, gold, and PGE deposits.

Historical exploration includes surface sampling showing high-grade copper and precious metals, a 2018 airborne geophysical survey outlining a magnetic and conductive anomaly, and a 2019 maiden drill program totaling 1,200m. Key drill intersections include:

  • 7.8m at 0.27% Cu, 1.12 g/t Ag, 0.17 g/t Au
  • 10.1m at 0.12% Cu

The asset is considered "drill-ready" pending capital for the recommended follow-up program.

Read the original news release →