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Gunsynd PLC - Aberdeen Minerals Ltd - Investee Company Update

Announcement provided by

Gunsynd Plc · GUN

09/06/2023 10:56

Gunsynd PLC - Aberdeen Minerals Ltd - Investee Company Update
RNS Number : 2731C
Gunsynd PLC
09 June 2023

Gunsynd PLC

("Gunsynd" or the "Company")


Aberdeen Minerals Ltd - Investee Company Update


Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has received an update from its investee company Aberdeen Minerals Ltd ("Aberdeen"; formerly known as Strategic Minerals Europe Ltd), a private UK company exploring for Nickel-Copper-Cobalt deposits in North East Scotland.

Aberdeen has completed its first phase of drilling and assaying at the Arthrath Project in Aberdeenshire, where it is exploring for deposits of nickel, copper and cobalt.


·  Aberdeen's maiden drilling programme involved the completion of seven angled diamond drill holes ranging in length from 130 to 400 metres for a total length of 1,715 metres.

·  High grade highlights in the longest hole ever drilled at Arthrath, AR007DD (400 metres), confirm the depth continuity of mineralisation 100 metres below the level of historical drilling and include:

1.7 metres grading 0.66% nickel (Ni), 0.47% copper (Cu), 0.06% cobalt (Co) (0.91% nickel equivalent, NiEq) from 249 metres

4.5 metres grading 0.70% Ni, 0.39% Cu. 0.06% Co (0.92% NiEq) from 258 metres

2.0 metres grading 0.73% Ni, 0.70% Cu. 0.07% Co (1.08% NiEq) from 270 metres

·  Validated the Aberdeenshire mafic-ultramafic intrusive system is dynamic and the application of modern nickel exploration technology and the latest 'conduit style' geological models could uncover higher grades than the shallow historical results.

·  Intervals of net-textured and massive sulphides were intersected within a broader zone of disseminated style mineralisation, with individual sample grades up to 2% nickel and 1.2% copper providing evidence for higher grade potential.

·  All holes intersected nickel-copper-cobalt sulphides within a wide and continuous zone of "magmatic sulphide" mineralisation which extends from near surface and is confirmed by drill intercepts including:

AR007DD: 90 metres grading 0.28% Ni, 0.18% Cu, 0.02% Co (0.38% NiEq) from 184 metres

AR001DD: 89 metres grading 0.22% Ni, 0.17% Cu, 0.02% Co (0.30% NiEq) from 95 metres

AR002DD: 44 metres grading 0.30% Ni, 0.29% Cu, 0.03% Co (0.44% NiEq) from 98 metres

§ Includes 12 metres grading 0.45% Ni, 0.44% Cu, 0.04% Co (0.67% NiEq)

AR003DD: 15 metres grading 0.42% Ni, 0.28% Cu, 0.05% Co (0.59% NiEq) from 39 metres.

·  These results validate data from Rio Tinto drilling in 1972 providing Aberdeen with confidence in the historical dataset across the Arthrath Project area.

·  Exploration potential for clusters of high priority targets in the broader 100km x 100km intrusive district generated from Aberdeen's proprietary geophysical dataset (SkyTEM survey conducted in September 2022).

Aberdeen has retained CSA Global (a division of ERM), an independent mining industry consultancy, to prepare a maiden Mineral Resource Estimate and / or Exploration Target in accordance with the JORC Code 2012 Edition (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). This will represent a key milestone  at the Arthrath Project for Aberdeen, and is an important step towards accelerated investment in exploration and development of its projects in North East Scotland.

Gunsynd subscribed for 2,000,000 shares at 7.5 pence per ordinary share for a total consideration of £150,000 as part of the fundraising announced on 16  January 2023.


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 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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