Gunsynd PLC
("Gunsynd" or the
"Company")
Investee Company Update -
Aberdeen Minerals Ltd
Gunsynd Plc (AIM: GUN) notes the
recent announcement by its investee company
Aberdeen Minerals Ltd ("Aberdeen Minerals"), a private UK company
exploring for Nickel-Copper-Cobalt deposits in North East
Scotland.
Aberdeen Minerals has successfully
completed its summer drilling campaign at the Arthrath Project in
Aberdeenshire, Scotland, where it is exploring for bedrock deposits
of nickel, copper and cobalt. These metals are strategically
important raw materials critical to an energy transition in
Scotland and the UK.
• Drilling has revealed a sulphide
"trap" feature, containing a build-up in sulphide minerals in a
floor zone of the mafic intrusion.
• This classic setting for
nickel-copper rich massive sulphides is located within a previously
untested area of the Arthrath deposit at only 170-250 vertical
metres.
• Extensive intersections of
net-textured sulphides with localised massive sulphide lenses form
the basis for the next round of geophysics and drilling at
Arthrath. Between July and October 2024, 2,682 metres of core
drilling were completed across seven boreholes ranging in length
from 243 metres to 510 metres.
The purpose of the drilling was to
test the company's model for metal rich, "conduit-related" massive
sulphide bodies beneath the shallow levels of the historically
drilled Arthrath deposit. This involved drilling deeper into the
Arthrath geology than any previous work at the project, and using
borehole electromagnetic (BHEM) geophysical surveys to test the
surrounding rocks for electrically conductive sulphides.
Updated geological modelling is
currently in progress by the company's consultants, and assay
results from sampling are due to be received later in Q4 2024.
Follow-up work is anticipated to comprise detailed geophysical
surveys to delineate the extents of the sulphide trap zone and
other targets emerging from the 2024 drilling, ahead of the next
round of drilling due to commence in February/March
2025.
Gunsynd holds 2,000,000 ordinary
shares in Aberdeen Minerals which were acquired for
£150,000.
Forward Looking Statements
This announcement contains
forward-looking statements relating to expected or anticipated
future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and
uncertainties, such as general economic, market and business
conditions, competition for qualified staff, the regulatory process
and actions, technical issues, new legislation, uncertainties
resulting from potential delays or changes in plans, uncertainties
resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties
regarding the timing and granting of prospecting rights,
uncertainties regarding the Company's ability to execute and
implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
The Directors of the Company are
responsible for the release of this announcement.
For further information, please
contact:
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Gunsynd plc
Hamish Harris/ Peter Ruse
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+44 (0) 78 7958 4153
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Cairn Financial Advisers LLP
James Caithie / Liam
Murray
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+44 (0) 20 7213 0880
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Peterhouse Capital Limited
Lucy Williams
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+44 (0) 20 7469 0936
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