Bear Twit Update
Gunsynd Plc has significantly expanded its Bear Twit project in Canada by acquiring additional claims, increasing its land package nearly five-fold from 17,008 to 82,561 hectares, with previous exploration identifying copper mineralization. This expansion is particularly noteworthy as Rio Tinto has simultaneously pegged 323,053 hectares nearby, publicly targeting 85% of its exploration budget towards copper, suggesting a potentially favourable exploration environment. The expansion was achieved through nominal claim fees with no additional vendor payments.
Select text to share a quote on X · sign in to keep highlights & notes in your GUN notes
Gunsynd (AIM: GUN) is pleased to provide an update in relation to the Bear Twit project in Canada (the "Project"), in which the Company owns a 100% legal and beneficial interest.
The Company has acquired a 100 per cent. legal and beneficial interest in a number of claims surrounding the Project, as well as its related permits, the details of which are set out below and will form part of the Project.
The expansion was achieved through claim staking via an agent, requiring only nominal claim fees with no additional vendor payments or ongoing obligations to a vendor. The agent will hold the additional claims on trust for the benefit of the Company until the transfer of the claims to a special purpose vehicle for the Company.
| Permit no | Holder | NTS | Area (Ha) | Yrs |
|---|---|---|---|---|
| NP - 8513 | Aurora Geosciences Ltd | 105P14 | 17,084 | 3 |
| NP - 8514 | Aurora Geosciences Ltd | 105P14 | 14,528 | 3 |
| NP - 8515 | Aurora Geosciences Ltd | 106A03 | 16,932 | 3 |
| NP - 8516 | Aurora Geosciences Ltd | 106A03 | 17,008 | 3 |
Hamish Harris executive director commented: "Gunsynd has increased its land package nearly five-fold, from 17,008 to 82,561 hectares. Previous exploration has identified copper mineralisation in both rock samples and drill logs. Simultaneously, Rio Tinto has pegged 323,053 hectares on our doorstep, publicly targeting 85% of their exploration budget toward copper. Res ipsa loquitur."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.