Gunsynd PLC Investee Company update – Aberdeen Minerals Ltd

RNS Number : 3248A

Gunsynd PLC

14 August 2024

 

Gunsynd Plc

("Gunsynd" or the "Company")

Investee Company update - Aberdeen Minerals Ltd

 

 

 

Gunsynd Plc (AIM: GUN) is pleased to announce recent updates from its investee company Aberdeen Minerals Limited ("Aberdeen"), a UK based Nickel-Copper exploration company.

 

Drilling program is underway at Arthrath Central within the Arthrath Project. Following the completion of the equity fundraise, Aberdeen commenced its next round of drilling at Arthrath as part of its mineral exploration programmes for deposits of nickel, copper and cobalt in North East Scotland.

 

Two rigs were mobilised to the site on 10 July 2024. This current campaign will see 2,650 metres of core drilling over six holes between July and September 2024, as the first stage of an overall 6,300 metre program.

 

The aim of the current six hole program is to explore deeper within the large Arthrath conduit-related sulphide system and test the potential for massive sulphide deposits in a geological setting which appears to be comparable to several global nickel sulphide orebody analogues.

 

The new program includes two relatively shallow holes (220 and 300 metres in length) into untested parts of the deposit to provide geological control, and four deep, widely spaced, angled holes (500 to 550 metres in length) designed to test the deeper geology along the current strike extent of the sulphide system. Borehole EM geophysical surveys will be carried out on all holes. Borehole EM ("BHEM") is used routinely in nickel sulphide exploration to detect and model bodies of more conductive, higher grade sulphides which may occur away from the borehole being tested.

 

Drilling has been positive so far with good levels of sulphide and net sulphide textures intersected in the two shallower holes, which have tested the southern part of the deposit in areas where there was no / limited historical drilling.

 

The second stage of the overall program will comprise a further 3,650 metres of planned drilling, scheduled for late 2024 / early 2025 with objectives to be confirmed by the results of the current round.

 

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.

 

About Aberdeen Minerals Limited:

 

Aberdeen Minerals is a privately owned UK company focused on the exploration and development of battery metal deposits in North East Scotland. Active since 2018, the company has partnered with landowners through exclusive land access and exploration agreements over geologically prospective areas of Aberdeenshire. Demand is growing for battery metals, including those targeted by the company in North East Scotland, which are strategically important for long term, responsibly sourced and secure supplies of the raw materials critical to a just energy transition in Scotland and the UK.

More information can be found on Aberdeen's website: www.aberdeenminerals.com

 

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 Hamish Harris/ Peter Ruse	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

 

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