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

GunsyndAnnouncement

05/11/2024 12:45

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RNS Number : 0314L  Gunsynd PLC  05 November 2024

Gunsynd PLC

("Gunsynd" or the "Company")

Investee Company Update - Aberdeen Minerals Ltd

 

Gunsynd Plc (AIM: GUN) notes the recent announcement by its investee company
Aberdeen Minerals Ltd ("Aberdeen Minerals"), a private UK company exploring
for Nickel-Copper-Cobalt deposits in North East Scotland.

Aberdeen Minerals has successfully completed its summer drilling campaign at
the Arthrath Project in Aberdeenshire, Scotland, where it is exploring for
bedrock deposits of nickel, copper and cobalt. These metals are strategically
important raw materials critical to an energy transition in Scotland and the
UK.

• Drilling has revealed a sulphide "trap" feature, containing a build-up in
sulphide minerals in a floor zone of the mafic intrusion.

• This classic setting for nickel-copper rich massive sulphides is located
within a previously untested area of the Arthrath deposit at only 170-250
vertical metres.

• Extensive intersections of net-textured sulphides with localised massive
sulphide lenses form the basis for the next round of geophysics and drilling
at Arthrath. Between July and October 2024, 2,682 metres of core drilling were
completed across seven boreholes ranging in length from 243 metres to 510
metres.

The purpose of the drilling was to test the company's model for metal rich,
"conduit-related" massive sulphide bodies beneath the shallow levels of the
historically drilled Arthrath deposit. This involved drilling deeper into the
Arthrath geology than any previous work at the project, and using borehole
electromagnetic (BHEM) geophysical surveys to test the surrounding rocks for
electrically conductive sulphides.

Updated geological modelling is currently in progress by the company's
consultants, and assay results from sampling are due to be received later in
Q4 2024. Follow-up work is anticipated to comprise detailed geophysical
surveys to delineate the extents of the sulphide trap zone and other targets
emerging from the 2024 drilling, ahead of the next round of drilling due to
commence in February/March 2025.

Gunsynd holds 2,000,000 ordinary shares in Aberdeen Minerals which were
acquired for £150,000.

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 (0) 20 7213 0880

 James Caithie / Liam Murray

 Peterhouse Capital Limited    +44 (0) 20 7469 0936

 Lucy Williams

 

 

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