Gunsynd (GUN) has entered into a legally binding term sheet with Ulvestone Ltd to farm into the Eagle Gold project consisting of 95 mining claims over 1,960 hectares in the Wabigoon Greenstone Belt in Ontario.
This area also includes numerous other gold deposits, and is located within 3 kilometres of a road.
During the 2025 field campaign of 21 grab samples were taken, three of which showed grades of more than 25 grams per tonne gold, with the largest returning 75.7 grams.
And historically, 26 shallow holes were drilled on the project between 1951 and 1985, offering multiple returns of over a gram per tonne, with one intercept running higher than seven grams over three metres.
The term sheet stipulates that Gunsynd will acquire a 10% legal and beneficial interest in the Eagle Gold project following payment to the vendor £170,000 in cash and just over 32 million Gunsynd shares.
View from Vox
It’s a good time to be building up the gold portfolio, and Eagle Gold certainly looks like it offers plenty of upside. The grades are enticing and the address is one of the best in the world. And Gunsynd’s portfolio is beginning to show significant strength in depth.