Gunsynd (GUN) has intercepted high grade lead, zinc, and silver mineralisation in sampling at its Bear Twit project in Canada.
The assays also included elevated concentrations of gallium, germanium, and copper.
Twelve samples assayed 10% zinc or higher, and five samples returned silver values greater than 60 grams per tonne. Importantly, the sampling program identified copper, gallium, and germanium, elements that were not analysed in previous drilling campaigns. The presence of these additional critical metals enhances the potential overall metal endowment of the system.
Among the highlights was a grab sample showing 11.3% lead, 5.38% zinc, 162 grams per tonne of silver, 0.15% of copper and 4.69 parts per million gallium.
The highest grades were returned from barite-calcite veins and breccias hosted within carbonate rocks of the Lower Palaeozoic. The mineralisation style and geochemical signature are consistent with a Mississippi Valley-Type system.
In total, 62 rock samples were collected from mineralised showings extending approximately 12 kilometres across the property.
During the field program, several historical drill collars were discovered in the field that do not appear in the company's records. In response, Gunsynd has engaged its consultant Critical Discoveries to compile, verify, and digitise all available historical exploration data across the Bear Twit project area. This work will integrate legacy data into a modern geospatial database to support upcoming drill target definition.
Based on these encouraging early results, Gunsynd plans to advance the Bear Twit project toward a drill-ready stage through a combination of detailed geological mapping, systematic channel sampling, and geophysics. Preparation of a land use permit application is underway to allow for future drilling once final targets are defined.
"These first assay results from Bear Twit are extremely encouraging and clearly confirm significant lead-zinc-silver mineralisation, with compelling upside for critical metals copper, gallium and germanium,” said Hamish Harris, executive chairman of Gunsynd.
“The field work completed by the Critical Discoveries team has reinforced the project's strong potential for a MVT system, consistent with other projects in the Selwyn Basin. We look forward to progressing Bear Twit toward drill-ready status, with a view to applying for a permit and executing a maiden drill campaign when fully justified."
View from Vox
A highly encouraging set of results from Gunsynd, especially given the additional elements that have now been identified at Bear Twit. With the mining market picking up, investors are likely to respond favourably to drilling news, when it comes. In the meantime, the share are trading well ahead of where they were this time last year.