REG - Gunsynd PLC - Investee Company Update – 1911 Gold Corporation

GunsyndAnnouncement

13/12/2024 07:00

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RNS Number : 9434P  Gunsynd PLC  13 December 2024

Gunsynd Plc

("Gunsynd" or the "Company")

Investee Company Update - 1911 Gold Corporation

Gunsynd Plc (AIM: GUN) notes the recent announcements made by its investee
company 1911 Gold Corporation (TSXV: AUMB) ("1911 Gold"), a junior gold
development and exploration company located in Manitoba, in the heart of the
Rice Lake gold district within the West Uchi greenstone belt in Canada.

 

Highlights

·      Strategic and lead investment from a high growth gold producer,
whose production base does not include any assets in Canada.

·      Upsized its previously announced non-brokered private placement
offering to raise aggregate gross proceeds of up to CAD$8,100,000.

·      Approximately 2,550 metres ("m") in 10 holes have been drilled to
completion on testing the new near surface drill targets, with drilling
underway at the San Antonio Southeast Target.

·      Two (2) of the three (3) initial new targets now drill tested
with follow up expected upon review of final assay results.

·      The MRE released on 20 November 2024 identified a number of drill
targets within areas of known mineralisation for potential resource extension
both down plunge and along strike outside of the veins modelled supporting the
MRE.

·      Assessment of the data and geological model supporting the
existing 43-101 Mineral Resource Estimate for Ogama Rockland Project is
underway, results of this will define the resource potential of this project
as well as identify opportunities as a potential satellite gold deposit.

·      Ongoing, comprehensive review of the geology and resource
potential of other past producers on the property, including the Central
Manitoba project is underway to generate additional exploration drill targets.

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:

 Gunsynd plc                   +44 (0) 78 7958 4153

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP  +44 20 7213 0880

 James Caithie / Liam Murray

 Peterhouse Capital Limited    +44 20 7469 0936

 Lucy Williams

 

 

 

 

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