Gunsynd PLC Exploration Update - Eagle Mountain Mining (2930M)
January 20 2021 - 3:00AM
UK Regulatory
TIDMGUN
RNS Number : 2930M
Gunsynd PLC
20 January 2021
Gunsynd plc
("Gunsynd" or the "Company")
Exploration Update - Eagle Mountain Mining
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce an
update on the current exploration programme from Eagle Mountain
Mining Limited ("Eagle Mountain"), one of Gunsynd's investee
companies, an ASX listed copper-gold exploration and development
company (ASX: EM2).
Eagle Mountain has announced drilling results from its 2020
drilling programme at its 80% owned Oracle Ridge Mine Project
("Oracle Ridge") in Arizona, USA. Assay results have been received
from holes WT-20-12, WT-20-13, WT-20-14 and WT-20-15.
Latest drilling results include:
-- 6.1m at 4.24% Cu, 36.16g/t Ag and 0.36g/t Au from 188.0m in drillhole WT-20-15
-- Other significant assay results include:
o 2.0m at 2.45% Cu, 14.9g/t Ag and 0.42g/t Au from 228.7m in
WT-20-12
o 2.0m at 2.35% Cu, 17.1g/t Ag and 0.29g/t Au from 262.0m in
WT-20-12
o 6.0m at 1.4% Cu, 12.26g/t Ag and 0.17g/t Au from 274.0m in
WT-20-12
o 7.3m at 1.45% Cu, 11.59g/t Ag and 0.18g/t Au from 250.6m in
WT-20-14
Eagle Mountain has recently commenced its 2021 drilling
programme having completed the first drill hole of 2021 with the
second drill hole underway. Eagle Mountain has informed the market
that zones of mineralisation continue to be logged in the 2021
drill core outside the existing Mineral Resource Estimate.
About Eagle Mountain Mining Limited
Eagle Mountain Mining Limited (ASX: EM2), established in 2017,
is a copper-gold explorer focused on the strategic exploration and
development of advanced and greenfield projects in Arizona.
Arizona is at the heart of America's mining industry and home to
some of the world's largest copper discoveries, now owned by major
mining companies including BHP, Rio Tinto, Freeport McMoRan and
Hudbay. Eagle Mountain's Oracle Ridge and Silver Mountain Projects
are within the Laramide Arc which hosts many of these significant
copper porphyry deposits.
Oracle Ridge is a high grade, advanced stage underground
copper/gold/silver project. The project includes an NI43-101
resource of 11.7mt at 1.57%Cu, 17.47g/t Ag and 0.18g/t Au. Eagle
Mountain believes there is significant potential to expand the
known resources through additional drilling, along with exploration
at depth to define the source of the mineralisation.
Peter Ruse, a Director of Gunsynd, commented: "These drill
results from the exploration program me completed in 2020 at Oracle
Ridge have demonstrated good grade and width; pleasingly these
results sit outside the current resource. We continue to be
encouraged by the potential at Oracle Ridge and look forward to
ongoing exploration following the commencement of the 2021 drilling
programme commenced earlier this month."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
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 / Mark Rogers +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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