Let A be an artin algebra of finite CM-type. In this paper, we show that if A is virtually Gorenstein, then the homotopy category of Gorenstein projective \documentclass[12pt]{minimal}
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\begin{document}$A\mbox{-}$\end{document}modules, denote \documentclass[12pt]{minimal}
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\begin{document}$K(A\mbox{-}{\mathcal {GP}})$\end{document}, is always compactly generated. Based on this result, it will be proved that the homotopy category of projective \documentclass[12pt]{minimal}
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\begin{document}$A\mbox{-}$\end{document}modules, denote \documentclass[12pt]{minimal}
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\begin{document}$K(A\mbox{-}{\mathcal P})$\end{document}, is a smashing subcategory of \documentclass[12pt]{minimal}
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\begin{document}$K(A\mbox{-}{\mathcal {GP}})$\end{document} and the corresponding Verdier quotient is also compactly generated. Furthermore, it turns out that the inclusion functor \documentclass[12pt]{minimal}
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\begin{document}$i: K(A\mbox{-}{\mathcal P})\to K(A\mbox{-}{\mathcal {GP}})$\end{document} induces a recollement of \documentclass[12pt]{minimal}
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\begin{document}$K(A\mbox{-}{\mathcal {GP}})$\end{document}.