REG - Gunsynd PLC - Operational Update - Charger Metals NL

GunsyndAnnouncement

08/11/2022 07:01

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RNS Number : 5914F  Gunsynd PLC  08 November 2022

Gunsynd plc

 

("Gunsynd" or the "Company")

 

Operational update - Charger Metals NL

 

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce a positive
operational update from investee company Charger Metals NL ("Charger") (ASX:
CHR), an ASX listed Australian lithium and base metals exploration company.

 

The Board of Gunsynd has welcomed the update that Charger has received the
required Mine Management Plan (MMP) & Aboriginal Areas Protection
Authority (AAPA) certificate approvals to enable Charger to make final drill
preparations at its Bynoe Project in Northern Territory, Australia. The
provision of vehicle access tracks to drill sites is the immediate priority
and discussions have advanced with drilling contractors around rig start
dates. Charger aims to drill as many holes at the Bynoe Lithium Project this
quarter as weather permits.

 

The Bynoe Lithium project is one of the principal assets in Charger's
portfolio of exploration assets and was one of the main reasons for Gunsynd's
investment decision when it made its first investment in November 2020.

 

The Bynoe Project is located approximately 35 km southwest of Darwin, Northern
Territory, with excellent access via sealed roads and with nearby
infrastructure. It is enclosed by Core Lithium Limited's Finniss Lithium
Project, which has a mineral resource of 18.9Mt at 1.32% Li2O. Core Lithium,
which has an approximate A$2.6 billion market capitalisation, commenced
construction and mining activities at its Finniss Lithium Project and has
announced the sale of direct shipping spodumene ore will commence during the
December 2022 quarter. Core Lithium is constructing its lithium processing
plant just 7km north of Charger's Bynoe Lithium Project.

 

Gunsynd announced on 20 September 2022 that it had participated in the Charger
capital raise of AUD$5.5 million (consisting of 11 million shares at AUD 50
cents per share) which was supported by existing and new investors.

 

For more information regarding this operational update shareholders can access
the Charger Metals website https://chargermetals.com.au/asx-announcements/

 

Peter Ruse, Gunsynd PLC Director, commented: "Gunsynd is pleased to inform
shareholders of this operational update from Charger Metals. The Bynoe project
has the potential to unlock enormous value via the maiden drill programme that
has been until now held up via regulatory heritage approval process. Charger
has two large priority targets in Megabucks and 7-up zones that will be
explored via this drilling campaign over the current quarter."

 

The Directors of Gunsynd accept responsibility for this announcement.

 

 

For further information please contact:

 

 Gunsynd plc

 Hamish Harris/ Peter Ruse     +44 (0) 78 7958 4153

 Cairn Financial Advisers LLP

 James Caithie / Liam Murray   +44 (0) 20 7213 0880

 Peterhouse Capital Limited

 Lucy Williams                 +44 (0) 20 7469 0936

 

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