REG - Gunsynd PLC - Falcon, Greylark and Merlin Update

GunsyndAnnouncement

10/07/2025 07:00

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RNS Number : 4305Q  Gunsynd PLC  10 July 2025

Gunsynd Plc

("Gunsynd" or the "Company")

Falcon, Greylark and Merlin Update

Gunsynd (AIM: GUN) is pleased to provide an update in relation to the Falcon
Lake, Greylark and Merlin Projects in Canada (together the "Projects"), in
which the Company has acquired a 100% legal and beneficial interest in the
Projects.  Gunsynd has appointed Southern Geoscience Consultants (SGS), to
undertake a comprehensive review of all historical geophysical surveys
completed across the Company's land package in the Hornby Basin including its
Falcon, Greylark and Merlin licences.  The Board anticipates that the review
will be completed within four to six weeks.

Several local high-resolution geophysical surveys including airborne EM,
airborne gravity, ground gravity, and local air radiometrics have been
previously taken in the area.

·      The work will consist of systematically reprocessing all
available datasets, merging overlapping surveys where possible, and generating
a unified property-wide geophysical database. The GEOTEM interpretation work
will include interpreting conductors from each profile in a digital
environment

·      Classifying conductors in terms of quality, dip, etc.

·      Compile conductor picks from the profiles and then interpret
conductor axes, faults and dips and assign conductor names

·      Correlate conductors with geology, drilling, geochemistry,
magnetics, etc and classify them accordingly with priority ratings.

This approach should allow Gunsynd to prioritise drill targets and design
future exploration programs with a firm understanding of the basin's
geophysical characteristics.

Rock chip samples, as announced on 8 October 2024 and set out below, have
previously recorded high grade results for both copper and uranium.

Falcon Lake Project

 Sample ID  Year  Easting  Northing  Ag (g/t)  Cu (%)
 V749901    2024  457667   7475703   11.65     19.55
 V749902    2024  457669   7475702   12.55     15.30

 

Merlin Project

 Sample_ID  Easting  Northing  Cu (%)  U (ppm)
 V749903    466672   7487761   0.61    1370
 V749904    466700   7487827   0.01    4.1
 V749905    466593   7487702   0.07    1135
 V749906    466600   7487661   0.14    1310

 

 

Gunsynd would also like to draw attention to the following announcement
showing similar work done by another listed company on the Hornby Basin
showing priority targets: High Priority Conductive Em Anomalies Identified in
Hornby Basin; Marketing Update - Future Fuels
(https://futurefuelsinc.com/high-priority-conductive-em-anomalies-identified-in-hornby-basin-marketing-update/)

Hamish Harris, Executive Chairman of Gunsynd commented "It is pertinent to
note that SGS comes with excellent recent credentials with successful work
programs completed in the immediate region of the Hornby Basin for Future
Fuels Inc (TSXV:FTUR), a circa C$45m market cap.

"The Mountain Lake Uranium Deposit situated adjacent to Dismal Lakes (Falcon
Greylark/Merlin 100% owned by Gunsynd) is the one of the most prominent
uranium occurrence within the Hornby Project. Initially discovered in 1976,
this deposit within the Hornby Deposit has undergone extensive historical
exploration, including over 26,000 meters of drilling across 209 drill holes.
The deposit contains an estimated inferred historical resource of 3,700 tonnes
of U₃O₈, equivalent to approximately 8.16 million pounds of uranium, with
an average grade of 0.23% U₃O₈  with significant potential for expansion
based on historical and modern exploration data including drill hole 77Y-35
which returned 5.19% (U₃O₈) over 0.90m, part of a 3.90m intercept of
2.27%  (U₃O₈).

"Given recent data reprocessing, the Company anticipates that this work will
deliver exciting results that will advance this project."

Map of prior GEOTEM surveys.

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.

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

For further information, please contact:

 Gunsynd plc                   +44 (0) 78 7958 4153

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP  +44 20 7213 0880

 Liam Murray / James Western

 Peterhouse Capital Limited    +44 20 7469 0936

 Lucy Williams

 

 

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