REG - Gunsynd PLC - Investee update – Aberdeen Minerals

GunsyndAnnouncement

24/02/2025 07:00

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RNS Number : 0878Y  Gunsynd PLC  24 February 2025

Gunsynd Plc

("Gunsynd" or the "Company")

Investee update - Aberdeen Minerals - Exploration results

 

 

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce an operational update
it has received from its investee company Aberdeen Minerals Limited
("Aberdeen"), a UK based Nickel-Copper exploration company. The update is in
relation to Aberdeen's Arthrath Project.

 

Arthrath Drilling Results

 

Assay results have been received from Aberdeen's seven-hole, 2024 exploration
drilling campaign at Arthrath Central which tested the deeper magmatic
conduit-related sulphide system.

 

Results delivered the combined thickest and highest-grade intersections seen
at Arthrath to date, with the addition of downhole geophysics providing strong
encouragement for what these higher resolution geophysical anomalies may
deliver at depth.

 

The next drill program will continue to vector in on grade and conductivity
signals which have been consistent indicators of higher sulphide saturation
(and higher metal content). Highlight results included:

 

As announced on 5 November 2024, Aberdeen drilling discovered a sulphide trap
feature containing a build-up of sulphide minerals as predicted by there
exploration model:

 

i)          Hole AR011DD intersected this feature with an intercept
of 33 metres grading 0.6% Ni and 0.3% Cu (or 0.8% NiEq2 / 1.4% CuEq3), from
199 metres downhole - the most continuous zone of net-textured sulphides
intersected to-date

ii)         This included multiple shorter intercepts of semi-massive
to massive sulphides at or around 1% nickel (including 2.6m at 1.5% NiEq /
2.5% CuEq), proving the right geological conditions occur for higher grade
sulphide bodies to form within the broader mineralising system

iii)        The trap is a "perched" floor zone, which occurs much
higher in the conduit system than expected giving confidence that more
intensive sulphides should be developed at deeper levels.

 

 Results from AR013DD, 140 metres north of 2023 deep hole AR007DD, conform to
a model of an open and strengthening sulphide conduit system at the north end
of the project, providing the deepest mineralisation discovered at the project
at 275 metres vertical depth:

i)          22 metres grading 0.5% Ni and 0.3% Cu (or 0.8% NiEq /
1.3% CuEq) from 315 metres downhole

ii)         No country rocks were intersected, meaning that the floor
zone of the intrusion, where massive sulphides are predicted to accumulate,
remains untested.

 

Based on these key results, combined with the other assays and borehole
geophysics data, Aberdeen's technical team has identified the depth extension
at the north end of the deposit as a high priority target for scalable
deposits of high grade, feeder zone sulphides.

Aberdeen have provided an update on its current financial position with £2.5m
cash in bank at 31 December 2024, and management continues to take a
disciplined approach to expenditure and maximise "in the ground" investment.

 

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.

 

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

 James Caithie / Liam Murray

 Peterhouse Capital Limited    +44 20 7469 0936

 Lucy Williams

 

 

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