REG - Gunsynd PLC - Aberdeen Minerals Ltd - Investee Company Update

GunsyndAnnouncement

09/06/2023 11:00

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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 £150,000 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                   +44 (0) 78 7958 4153

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP  +44 (0) 20 7213 0880

 James Caithie / Liam Murray

 Peterhouse Capital Limited    +44 (0) 20 7469 0936

 Lucy Williams

 

 

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