Gunsynd PLC (GUN) has released initial assay results from a reconnaissance sampling programme that confirm the presence of high-grade gold at the Barb Project, in Manitoba Canada.
Gunsynd holds a 100% interest in Barb.
The reconnaissance program was undertaken by Critical Discoveries Ltd, and showed mineralisation present right across the property.
Thirteen samples assayed one gram per tonne gold or higher, with the highest reading at 13.12 grams. Among the other highlights were samples assayed at 8.24 grams per tonne, 7.76 grams, and 6.26 grams.
The Critical Discoveries team completed two field programs, each followed by a sample submission. Both submissions will generate two sets of results, the fire assay and the multielement. To date, Gunsynd has received the fire assay results for gold only from the first submission.
The multielement assays will help identify pathfinder elements within the system, as these narrow vein systems are known for their nuggety gold distribution. Gunsynd plans to use this geochemical data for comparison in future drill programs as well.
Based on these encouraging early results, Gunsynd plans to advance the Barb Project toward a drill-ready stage through a combination of detailed geological mapping, systematic channel sampling, and geophysics. Preparation for a work permit application is underway to allow for future drilling once the final targets are defined.
"These initial assay results from the Barb project are highly encouraging, highlighting the presence and distribution of high-grade gold mineralisation across the property,” said Hamish Harris, executive chairman of Gunsynd.
“Fieldwork conducted by the Critical Discoveries team has further strengthened confidence in the project's strong exploration potential. We look forward to advancing the Barb project toward a maiden drill campaign."
View from Vox
Gunsynd’s shares rose by more than 20% on a combination of news of these gold results and high-grade historic silver, lead and zinc grades at the Bear Twit project. Attractive grades combined with a proactive plan to get drilling are more than likely to whet investors’ appetites in the current buoyant conditions for junior mining companies. Drill results will obviously be crucial, but for the time being, progress looks good.