Gunsynd reports launch of Aberdeen Minerals' Phase 2B drilling at Arthrath Ni-Cu-Co project
() , a holding company specialising in natural resources, highlighted a recent update from its investee Aberdeen Minerals on its nickel-copper-cobalt exploration activities in Scotland.
Aberdeen said it has started its "Phase 2B" mineral drilling works at the Arthrath project in northeast Scotland. The new drilling follows on from 2024's Phase 2A campaign, which produced some of the best mineralisation encountered over the history of the project.
Aberdeen has planned 5 new boreholes with a combined depth of 2,400m. Drilling has now commenced, and will be ongoing at the site until mid-August 2025. A small mineral rig operated under contract by Priority Drilling will drill angled boreholes to collect rock core samples to around 400m vertical depth.
The work programme is privately funded through a capital raising completed in May 2024, which included a £3m initial investment by UK mining company Central Asia Metals, alongside £0.5m from other investors.
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Nickel, copper, and cobalt are critical components in lithium-ion batteries and renewables technology, making them strategically vital raw materials for Scotland and the UK's energy transition. Despite this, the country currently lacks any primary production of these metals. Therefore, we see significant upside for Aberdeen and Gunsynd as the project advances toward production, having already garnered significant attention from local and large investors.
Gunsynd holds 2 million shares in Aberdeen, acquired for £150k. Aberdeen had £2.5m cash in bank as of December 31 2024, as the company continues to take a disciplined approach to expenditure and maximise "in the ground" investment.
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