TIDMGUN
RNS Number : 2731C
Gunsynd PLC
09 June 2023
Gunsynd PLC
("Gunsynd" or the "Company")
Aberdeen Minerals Ltd - Investee Company Update
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it
has received an update from its investee company Aberdeen Minerals
Ltd ("Aberdeen"; formerly known as Strategic Minerals Europe Ltd),
a private UK company exploring for Nickel-Copper-Cobalt deposits in
North East Scotland.
Aberdeen has completed its first phase of drilling and assaying
at the Arthrath Project in Aberdeenshire, where it is exploring for
deposits of nickel, copper and cobalt.
Highlights
-- Aberdeen's maiden drilling programme involved the completion
of seven angled diamond drill holes ranging in length from 130 to
400 metres for a total length of 1,715 metres.
-- High grade highlights in the longest hole ever drilled at
Arthrath, AR007DD (400 metres), confirm the depth continuity of
mineralisation 100 metres below the level of historical drilling
and include:
o 1.7 metres grading 0.66% nickel (Ni), 0.47% copper (Cu), 0.06%
cobalt (Co) (0.91% nickel equivalent, NiEq) from 249 metres
o 4.5 metres grading 0.70% Ni, 0.39% Cu. 0.06% Co (0.92% NiEq)
from 258 metres
o 2.0 metres grading 0.73% Ni, 0.70% Cu. 0.07% Co (1.08% NiEq)
from 270 metres
-- Validated the Aberdeenshire mafic-ultramafic intrusive system
is dynamic and the application of modern nickel exploration
technology and the latest 'conduit style' geological models could
uncover higher grades than the shallow historical results.
-- Intervals of net-textured and massive sulphides were
intersected within a broader zone of disseminated style
mineralisation, with individual sample grades up to 2% nickel and
1.2% copper providing evidence for higher grade potential.
-- All holes intersected nickel-copper-cobalt sulphides within a
wide and continuous zone of "magmatic sulphide" mineralisation
which extends from near surface and is confirmed by drill
intercepts including:
o AR007DD: 90 metres grading 0.28% Ni, 0.18% Cu, 0.02% Co (0.38%
NiEq) from 184 metres
o AR001DD: 89 metres grading 0.22% Ni, 0.17% Cu, 0.02% Co (0.30%
NiEq) from 95 metres
o AR002DD: 44 metres grading 0.30% Ni, 0.29% Cu, 0.03% Co (0.44%
NiEq) from 98 metres
-- Includes 12 metres grading 0.45% Ni, 0.44% Cu, 0.04% Co
(0.67% NiEq)
o AR003DD: 15 metres grading 0.42% Ni, 0.28% Cu, 0.05% Co (0.59%
NiEq) from 39 metres.
-- These results validate data from Rio Tinto drilling in 1972
providing Aberdeen with confidence in the historical dataset across
the Arthrath Project area.
-- Exploration potential for clusters of high priority targets
in the broader 100km x 100km intrusive district generated from
Aberdeen's proprietary geophysical dataset (SkyTEM survey conducted
in September 2022).
Aberdeen has retained CSA Global (a division of ERM), an
independent mining industry consultancy, to prepare a maiden
Mineral Resource Estimate and / or Exploration Target in accordance
with the JORC Code 2012 Edition (Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves). This will
represent a key milestone at the Arthrath Project for Aberdeen, and
is an important step towards accelerated investment in exploration
and development of its projects in North East Scotland.
Gunsynd subscribed for 2,000,000 shares at 7.5 pence per
ordinary share for a total consideration of GBP150,000 as part of
the fundraising announced on 16 January 2023.
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 Gunsynd accept responsibility for this
announcement.
For further information, please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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END
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June 09, 2023 05:56 ET (09:56 GMT)