Prospectivity of Gunsynd’s new Canadian assets shines through in latest results

Gunsynd (GUN) Follow | GUN has released an update in relation to the Falcon Lake and Merlin projects in Canada, which it acquired earlier this year.

Prospecting has returned exceptional high-grade copper results at the Falcon Lake project and uranium results at the Merlin Project.

These results include up to 19.55% copper, with both Falcon Lake copper results exceeding 15%.

The exploration program included the collection of two rock chip samples from outcrops within the Falcon Lake Project. Representative samples of the mineralised outcrop were taken, given unique sample IDs and bagged for shipping to ALS Canada Ltd for analysis. 

One sample showed 11.65 grams per tonne gold and 19.55% copper, while the other showed 12.55 grams gold and 15.3% copper.

Meanwhile, it is now the company's belief that the source and feeder system of high grade uranium found in boulders within the Merlin project is within the same setting in the project area.

At Merlin four samples were taken, and included results of 1,370 parts per million uranium, 1,135 parts per million uranium, and 1,310 parts per million uranium, all associated with copper. 

The Merlin project covers a six kilometre east-west trending train of radioactive glacial boulders of quartz sandstones identified in the 1970s. Detailed work between 1977-1980 identified over 400 radioactive boulders which returned grades up to 3.3% U3O8. 

Measurements performed on 101 of these boulders indicate an average transport distance of 2.5 kilometres, with ice flow direction from west to east, placing the suspected source of the boulders firmly within the Merlin boundary. T

The Falcon zone is located within geology of both the Great Bear Batholith which is host to the historic Eldorado minesite, the largest uranium mine in Canada during the 1930s-40s, and the overlying basinal sedimentary rocks. 

Within the Falcon Lake project, copper is known to be concentrated within siltstone-dolostone members of the sequence and other metals within the mudstone-shale members. 

A series of regional north-east trending structures pass through the Falcon area, and may be important controls on mineralisation. Selected grab samples from a 1979 map show copper up to 8.9 % and 300 parts per million uranium. 

This suggests hydrothermal fluids, containing both copper and uranium entered the reactive sedimentary rocks and formed high-grade mineralisation, which remains unexplored.

"This marks an exceptional first pass exploration campaign on the two newly acquired projects that are delivering extremely high grade samples,” said Hamish Harris, executive chairman of Gunsynd. 

“We remain committed to carrying out more in-depth exploration to follow up these attractive sample results."

"Whilst a small sample, the board believe it’s statistically significant that 100% of assay results from the Falcon project were over 15% Cu and three of four uranium assay results at Merlin  were over 1,000ppm U. This level of grade and consistency gives the Company great encouragement for future exploration."

View from VOX

These results are highly encouraging, albeit early stage. The indications thus far are that significant mineralisation lies on Gunsynd’s ground, and furthermore that the grades might be good. What’s more, to the north of Gunsynd, White Cliffs has been exploring too, and recently returned what’s believed to be the highest grade copper sample ever taken anywhere in the world, grading over 64% copper, over 220 grams per tonne silver and over two grams per tonne gold. That points towards the prospectivity of the wider region, and shows that Gunsynd has certainly arrived at the right address.