Gunsynd (GUN ) has welcomed the listing of Talon Resources on the Aim market.
Talon holds a 90% interest in Wedgetail Mining, with the remaining 10% of Wedgetail held by Gunsynd.
Wedgetail is the registered holder of the mining claims comprising Talon’s Eagle Lake gold project.
The Eagle Lake project comprises 95 contiguous single-cell mining claims covering 1,985.88 hectares in the Kenora Mining Division, Ontario, Canada.
The project is located approximately 27 kilometres west-southwest of Dryden and is situated within the Wabigoon Subprovince, an Archean greenstone belt prospective for structurally controlled orogenic gold mineralisation.
The mineral claims are held through Wedgetail, which owns a 100% interest in the claims under the Ontario Mining Act.
The Dryden gold district has attracted increasing exploration activity in recent years.
The Wabigoon Subprovince hosts numerous gold occurrences and past-producing mines associated with shear-hosted quartz-carbonate vein systems, providing a well-established geological setting known to host mineralisation analogous to that observed at Eagle Lake.
Historical exploration at the project has identified several gold-bearing zones across the property, including sample results of up to 204 grams per tonne at surface.
Despite these results, only 26 historical discovery drill holes have been completed on the project, none of which exceeded 155 metres in depth, leaving significant portions of the property untested at depth.
"It is pleasing to see Talon Resources complete its admission to AIM which should allow Eagle Lake to progress, particularly given its drill ready status,” said Gunsynd’s Hamish Harris.
“We look forward to further updates in the coming weeks and months."
View from Vox
Talon looks like it will pick up significant momentum during the coming months, and that should redound to Gunsynd’s benefit too. There’s no denying the prospectivity of Eagle Lake, both on the strength of past results, and on the presence of significant mining and exploration activity in the wider area. Gunsynd’s portfolio is Canadian-focussed, but diverse. The Wedgetail stake but one part of the significant upside that the company is exposed to.