Gunsynd Plc
("Gunsynd" or the "Company")
Investee Company update -
Aberdeen Minerals Ltd
Gunsynd Plc (AIM: GUN) is pleased to announce
recent updates from its investee company Aberdeen Minerals Limited
("Aberdeen"), a UK based Nickel-Copper exploration
company.
Drilling program is underway at Arthrath
Central within the Arthrath Project. Following the completion of
the equity fundraise, Aberdeen commenced its next round of drilling
at Arthrath as part of its mineral exploration programmes for
deposits of nickel, copper and cobalt in North East
Scotland.
Two rigs were mobilised to the site on 10 July
2024. This current campaign will see 2,650 metres of core drilling
over six holes between July and September 2024, as the first stage
of an overall 6,300 metre program.
The aim of the current six hole program is to
explore deeper within the large Arthrath conduit-related sulphide
system and test the potential for massive sulphide deposits in a
geological setting which appears to be comparable to several global
nickel sulphide orebody analogues.
The new program includes two relatively shallow
holes (220 and 300 metres in length) into untested parts of the
deposit to provide geological control, and four deep, widely
spaced, angled holes (500 to 550 metres in length) designed to test
the deeper geology along the current strike extent of the sulphide
system. Borehole EM geophysical surveys will be carried out on all
holes. Borehole EM ("BHEM") is used routinely in nickel sulphide
exploration to detect and model bodies of more conductive, higher
grade sulphides which may occur away from the borehole being
tested.
Drilling has been positive so far with good
levels of sulphide and net sulphide textures intersected in the two
shallower holes, which have tested the southern part of the deposit
in areas where there was no / limited historical
drilling.
The second stage of the overall program will
comprise a further 3,650 metres of planned drilling, scheduled for
late 2024 / early 2025 with objectives to be confirmed by the
results of the current round.
Gunsynd holds 2,000,000 ordinary shares in
Aberdeen which were acquired for £150,000.
Gunsynd looks forward to providing regular
updates on future results provided by Aberdeen in relation to the
current and future drilling programs.
About Aberdeen
Minerals Limited:
Aberdeen Minerals is a privately
owned UK company focused on the exploration and development of
battery metal deposits in North East Scotland. Active since 2018,
the company has partnered with landowners through exclusive land
access and exploration agreements over geologically prospective
areas of Aberdeenshire. Demand is growing for battery metals,
including those targeted by the company in North East Scotland,
which are strategically important for long term, responsibly
sourced and secure supplies of the raw materials critical to a just
energy transition in Scotland and the UK.
More information can be found on
Aberdeen's website: www.aberdeenminerals.com
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 20 7213 0880
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Peterhouse
Capital Limited
Lucy Williams
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+44 20 7469 0936
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