Last checked at 4 Apr 2017 16:17
Gunsynd plc ("Gunsynd" or the "Company")
Sunshine Minerals Update
Gunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce an update in respect of Sunshine Minerals Ltd ("Sunshine"), a company in which it holds a 10% interest. Sunshine has now received a land user agreement for its Tausere bauxite deposit licence. The Tausere bauxite deposit is a non resource defined early stage exploration asset over a 510km² tenement area with 3 target areas. Historical assay results show average bauxite geochemistry of 42% and a possible total inferred resource (resource for which there is insufficient data to confirm its continuity) in the prospecting licence area of 288,228,000 tons.
Hamish Harris, the Company's Executive Chairman, commented:
"We are very pleased that Sunshine has been able to obtain a land user agreement that was required in conjunction with the prospecting licence it has already acquired. Sunshine is now in a position to commence validating the resource. We also expect to hear back shortly with respect to the Jejevo licence for which a land user agreement is already in place"
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of Gunsynd accept responsibility for this announcement.
For further information please contact:
Gunsynd plc
+44 (0) 20 7440 0640
Hamish Harris
Nominated Adviser/NEX Exchange Corporate Adviser
+44 (0) 20 7213 0880
Cairn Financial Advisers LLP
James Caithie / Liam Murray
Peterhouse Corporate Finance (Joint Broker)
+44 (0)20 7469 0930
Lucy Williams